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 industry and is expected to lead the it 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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