At a compound annual growth rate of 6.6%, the size of the worldwide Diagnostic Imaging market is projected to reach US$ 34.04 billion in 2030.
Diagnostic imaging market is experiencing the significant growth in the last years because of rise in the adoption of the less doses of ionizing radiation, multi-modality systems, rise in the demand for services of healthcare, increase in the occurrence of the chronic diseases, support by government, hybrid technology. In the healthcare, diagnostic imaging is the important industry that accept changes and continues to grow steadily.
Increasing elderly population, developments in technology and the diagnostic imaging devices application, growth in the expenditure of healthcare, rise in the requirement for the procedures of diagnostic imaging and increase in the occurrence of the chronic diseases are the factors fueling the global diagnostic imaging market growth. Global diagnostic imaging market trends are increase in the product launches. Companies of diagnostic imaging devices are positively included in the new products launch to provide the advance and innovative devices. Industry of diagnostic imaging is concentrating on the cost-effective products of diagnostic imaging and advancement of technology as per the requirement of consumer and is increasing the diagnostic imaging market growth.
Growth in the penetration and demand for the diagnostic imaging devices in the developing economies are offering various opportunities for the manufacturers in generating the revenue. Moreover, the business of diagnostic imaging is increasing at a substantial rate in the evolving economies, specifically in Latin America and Asia Pacific. Regions like India and China are having the wide potential for diagnostic imaging market. Increase in the economic growth and initiatives by government in Asia, as manufacturers of the diagnostic imaging systems are increasing the diagnostic imaging market growth.
Factors that are responsible for the growth of global diagnostic imaging market are increase in the patients of chronic diseases related to geriatric population, growth in the awareness for the initial diagnosis of clinical disorders, rise in the procedures of medical imaging, developments in technology of diagnostic imaging devices. In addition, diagnostic imaging market in Latin America and Asia Pacific regions is anticipated to supplement the diagnostic imaging market in the coming years. Expensive imaging modalities, scenario of reimbursement and scarcity of helium in the developing regions are restraining the diagnostic imaging market. Growth in the spending on healthcare in the evolving regions will fuel the demand for the diagnostic imaging market.
Diagnostic imaging market is segmented into application, type and region. On considering the application, diagnostic imaging market is divided into nuclear imaging systems, ultrasound imaging systems, MRI systems, CT Scanners and X-ray imaging systems. Based on type, market is divided into breast health, general imaging, thoracic and cardiovascular, spine and neuro, musculoskeletal and orthopedics, gynecology or obstetrics health and more.
Geographically, regions involved in the development of global diagnostic imaging market are Europe, North America, Asia Pacific and Middle East and Africa. US diagnostic imaging market is dominated by Asia Pacific. Europe holds the largest diagnostic imaging market share.
Key players involved in diagnostic imaging market are GE Healthcare, Toshiba Medical Systems, Siemens Healthcare, Fujifilm Holdings Corp and Hitachi Medical.
Key Segments in the “Global Diagnostic Imaging Market” are-
By Application, market is segmented into:
- Nuclear imaging systems
- Ultrasound imaging systems
- MRI systems
- CT Scanners
- X-ray imaging systems
By Type, market is segmented into:
- Breast health
- General imaging
- Thoracic and Cardiovascular
- Spine and Neuro
- Musculoskeletal and Orthopedics
- Gynecology or Obstetrics health
By Regions market is segmented into:
- North America
- Asia Pacific
- Middle East and Africa