Diagnostic Imaging Market to Surpass USD49 Billion in the Next Five Years
Continuously growing
population, rising prevalence of diseases such as cardiac and thoracic,
musculoskeletal, neuro and spine, etc., and increasing health care expenditure in every region to drive the Global
Diagnostic Imaging Market during the forecast period.
According
to recently released TechSci Research report “Global Diagnostic
Imaging Market By Product Type ( Architecture (Open/Closed), By Field
Strength (High and Very-High Field MRI Systems), By Systems (Ultrasound
Systems, Nuclear Imaging Systems, X-Ray Imaging Systems, CT Scanner, MRI
System, Mammography System, Fluoroscopy), By Portability (Stationary,
Portability), By Application (OB/Gyn, Orthopaedic, Musculoskeletal, Neuro
&Spine, General Imaging, Cardio &Thoracic, Breast health, Others), By
End Users (Hospitals, Diagnostic Imaging Centers, Others), By Region, Forecast
& Opportunities, 2016-2026F”, Global Diagnostic Imaging Market is
forecast to grow at CAGR of 7.72% in value terms to reach USD49,296.43 million
by 2026. The market is expected to grow on the back of the rising
geriatric population in the world. In this era, the technology and medical
sciences sector have emerged to help people to provide better solutions with
the help of Diagnostic Imaging Devices such as X-Ray, MRI, Mammographs, etc.
Looking at the effectiveness of Diagnostic
Imaging Devices, governments of all regions have now begun to start funding for
such types of Medical Devices, which is also one of the driving factors for the
rising of the Diagnostic Imaging Devices Market. However, high cost and
maintenance can be a hurdle in the growth of the market. The progression of this market is predominantly
propelled by the escalating demand for early disease
diagnosis applications and technological advancements in medical sciences.
Browse 218 market Figures spread through 110 Pages
and an in-depth TOC on “Global
Diagnostic Imaging Market”
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Global Diagnostic Imaging
Market is segmented into Product Type,
Systems, Portability, Applications, End Users and Region. The system segment includes
Ultrasound Systems, Nuclear Imaging Systems, X-ray Imaging Systems, CT
Scanners, MRI Systems, Mammography Systems and Fluoroscopy. In 2020, X-ray
systems accounted for the largest share due to the rising cases of chronic
diseases which require analog or digital X-Ray for diagnosis.
Based on application, the application segment is
categorized into Cardio & Thoracic, Musculoskeletal, Orthopaedic, Neuro
& Spine, OB/Gyn, Breast Health, General Imaging and Others. In this segment,
the Cardio &
Thoracic sub-segment is dominating the market and is going to lead the market
in the forecast period as well. This can be accredited to the increasing rate of
disease prevalence such as cancer. The intervention of COVID-19 has affected the
respiratory system of human body, which led to an increase in diagnosis
treatments. The Neuro & Spine sub-segment is going to elevate significantly
due to the increase in the geriatric population.
Based on End-User segment, the market can be segmented
into Hospitals, Diagnostic Imaging Centers and Others. The Hospital segment is
dominating the market and is expected to lead the market in the forecast period
whereas the Diagnostic Imaging Centers are going to witness a significant
growth in the forecast period due to the emergence of more private diagnostic centers
across all the regions.
Major players operating in the
Global Diagnostic Imaging Market include Canon Medical Systems Corporation, GE
Healthcare, Inc., Hologic, Inc., Koninklijke Philips N.V., Fujifilm Holdings
Corporation, Varex Imaging Corporation, F. Hoffmann-La Roche AG , AGFA-Gevaert NV, Thermo Fisher Scientific Inc., Sysmex
Corporation, Bio-Rad Laboratories, Inc., Grifols, S.A., Danaher Corporation, Sectra
medical
systems AB, International Business
Machines Corporation, Abbott Laboratories
Inc., Siemens Healthineers AG, Samsung Medison Co Ltd, Inc., Bio-Rad Laboratories, Inc., DiaSorin SpA.
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In
terms of regional analysis, the Global Diagnostics Imaging Market is segregated
into Asia-Pacific, Europe, North America, South America, and Middle East &
Africa. North America is dominating the Diagnostic Imaging Market due to high
technological advancements and health expenditure.
“Asia-Pacific is forecast to witness
the highest growth rate in the forecast period due to the rising awareness
pertaining to the use of diagnostic imaging and owing to the increasing prevalence of chronic diseases and aging
population in budding economies like India and China. Additionally, change in lifestyle in major developing countries like
India and China is heightening the chances for the outburst of severe diseases,
thereby resulting in higher demand for Diagnostic Imaging Devices. The
technological advancements are also one of the vital factors which further
strengthen the Diagnostic Imaging Market and make diagnostic services
accessible to the general population at economical prices” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Diagnostic Imaging Market By Product Type
(Architecture (Open/Closed), By Field Strength (High and Very-High Field MRI
Systems), By Systems (Ultrasound Systems, Nuclear Imaging Systems, X-Ray
Imaging Systems, CT Scanner, MRI System, Mammography System, Fluoroscopy), By
Portability (Stationary, Portability), By Application (OB/Gyn, Orthopaedic,
Musculosekeletal, Neuro &Spine, General Imaging, Cardio &Thoracic,
Breast health, Others), By End Users (Hospitals, Diagnostic Imaging Centers,
Others), By Region, Forecast & Opportunities, 2016-2026F”,
has analysed the future growth
potential of the Global Diagnostic Imaging Market and provides statistics and
information on the market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in the Global Diagnostic Imaging Market.
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