Diagnostic Imaging Market was valued at US$ 29.67 Bn. in 2022 and is estimated to reach a value of US$ 44.03 Bn. in 2029. The Global Diagnostic Imaging Market size is estimated to grow at a CAGR of 5.8% over the forecast period.
Diagnostic Imaging Market Overview:Diagnostic imaging describes various techniques of viewing the inside of the body to help figure out the causes of an illness or injury and confirm a diagnosis. Doctors also use it to see how well a patient's body responds to treatment for a fracture or illness. Diagnostic health imaging technology is transformed healthcare and now allows for earlier diagnosis of medical conditions, reduces the need for needless invasive exploratory processes, and creates better patient outcomes. Health Images offers comprehensive diagnostic imaging services. Diagnostic imaging allows physicians to view the inside of the body to help them find any indications of a health condition. Some machines and methods can produce pictures of the activities and structures inside the body. Then the doctor will decide which medical imaging tests they'll need to use based on the body part they're evaluating and the symptoms. The report explores the Diagnostic Imaging Market’s segments (Product, Application, End-User, and Region). Data has been provided by market participants, and regions (North America, Asia Pacific, Europe, Middle East & Africa, and South America). This market report provides a thorough analysis of the rapid advances that are currently taking place across all industry sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2018 to 2022. The report investigates the Diagnostic Imaging Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Diagnostic Imaging Market’s contemporary competitive scenario. To know about the Research Methodology :- Request Free Sample Report 2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. The past five years' trends are considered while forecasting the market through 2029. 2020 is a year of exception and analysis, especially with the impact of lockdown by region.
Diagnostic Imaging Market Dynamics:Increasing Demand for Early Disease Diagnosis and Widening Scope of Clinical Applications is the Growth Factors- The increase in chronic diseases is on the trend globally, and diagnostic imaging procedures play an important role in the accurate diagnosis of chronic diseases. The increase in the aging population and changes in societal behavior are contributing to a steady increase in these common and costly long-term health problems. Most of the deaths by chronic diseases are attributable to cancer, cardiovascular diseases, obesity, and diabetes. According to GLOBOCAN, in 2020, about 19.25 million new cases of cancer were reported worldwide, and this number is expected to increase to 25.2 million in 2029. The most affected would be the emerging markets, as the population growth is anticipated to be most significant in developing areas. New models for therapy and diagnoses are being developed, which provide precise results, help in the early detection of diseases, and help minimize the cost of treating these diseases. With the increasing disposable income, people are becoming capable enough to have access to imaging procedures for the early detection of diseases. The risk of developing diseases increases proportionately with age. According to the Centers for Disease Control and Prevention (CDC), nearly 70% of the elderly suffer from at least one chronic condition across the globe. In addition, the American Medical Association (AMA) estimates that at least 50% of individuals aged 65 and above will be living with more than one chronic condition by 2029. This increase in the aging population will drive the demand for improved healthcare facilities and advanced treatment options and medication. Rapidly Growing Geriatric Population and Increase in the Prevalence of associated Diseases Propels the Market Growth- The ability of diagnostic imaging to diagnose a disease in its early stage and greatly improve patient outcomes has driven the diagnostic imaging market since it is painless and offers rapid diagnosis. Consequently, it is a popular recourse among doctors as well as patients. Rapid innovations and favorable reimbursement policies are also propelling the global diagnostic imaging market. Diagnostic imaging provides an opportunity to exclude expensive treatments, consequently causing substantial savings and the increase in the geriatric population across the globe requires quick diagnostic and treatment, an increase in the need for a point-of-care imaging system, and a surge in demand for enhanced optical images for better diagnosis of diseases and disorders. The rise in the incidence of geriatric diseases and advancement in technology in medical imaging is expected to fuel the medical imaging market growth. For instance, in 2020, as per the Global Cancer Observatory, an interactive web-based platform, it was reported that lung cancer is the second-ranked cancer in Europe with estimated 477,534 newly diagnosed patients. Innovation in Technological Advancements in Diagnostic Imaging Industry, and increasing investments are the Opportunities for Growth- The diagnostic imaging market had changed in recent years and increased its mission of saving millions of lives every year across the globe. It extensively helps healthcare specialties to diagnose a broad range of health ailments from heart disease to stroke and from appendicitis to cancer. Technological advancements are helping the market always to focus to deliver novel innovations to patients and physicians. Technological improvements in diagnostic imaging systems along with their higher demand to improve patient outcomes will positively impact the industry expansion. Eminent participants working in the market are shifting their focus towards value-based radiology and patient-centric imaging. Different innovations have been made in numerous imaging modalities including MRI, ultrasound, mammography, 3D imaging as well as nuclear imaging among others. However, higher costs associated with medical imaging devices may hinder the industry's growth.
Diagnostic Imaging Market Trends:Emerging Economies Improve the Market and considers as the Trend Factor for Market- Various economies are emerging such as India, China, Brazil, South Korea, Turkey, Russia, and South Africa, and trying to offer high growth opportunities for major players in the diagnostic imaging market. The economies are majorly focusing on the cost factor because it acts as a concern for these developing countries, their huge population base, especially in India and China is trying to make a sustainable market for diagnostic imaging devices. The higher incidence of chronic diseases such as cancer, stroke, and neurological and cardiovascular diseases and the higher death rates in these countries show the need for early detection. For example, Globocan 2021, data estimates that roughly over 60% of the global cancer population belongs to developing regions. The various key market players are adopting various growth strategies to strengthen their foothold in their region. Siemens Healthineers, for instance, reported that China is one of their biggest markets and major incremental growth drivers. Moreover, in 2020, as part of its India expansion plan, Siemens Healthineers opened its manufacturing facility in India with two production lines—one for its mobile C-arm for a surgery called Cios Fit and CT systems based on its go platform. Increasing demand for state-of-the-art imaging modalities by teaching hospitals and universities to provide training for advanced technology- The increase in the prevalence of cardiac disease drives the growth of the medical/diagnostic imaging market size and also encourages the hospitals because it only platform that facilities this technology for diagnostic market. The imaging system such as radionuclide imaging, ultrasound, optical imaging, and CT scan is used in the diagnosis of cardiac disorders to maximize diagnosis accuracy and enhance patient care by hospitals. For instance, according to World Health Organization (WHO), in 2021, it was observed that cardiovascular diseases (CVDs) are the leading cause of death globally. In addition, an upsurge in the number of hospitals and diagnostics centers, and initiatives taken by the government and private organizations to develop medical sectors drive the medical imaging market trends. Furthermore, the increased R&D activities in imaging technology and rise in the number of approval for products boost the medical/diagnostic imaging industry. For instance, in April 2021, Canon Medical Systems USA, Inc., a leading developer of medical devices, received U.S. FDA approval for One-Beat Spectral Cardiac CT, for cardiovascular imaging.
Diagnostic Imaging Market Segment Analysis:Based on Product, the Diagnostic Imaging Market is segmented into X-Ray Imaging Systems, Compound Tomography (CT) Scanners, Conventional CT Systems, Ultrasound Systems, Magnetic Resonance Imaging (MRI) Systems, Nuclear Imaging Systems, SPECT Systems, Hybrid SPECT Systems, and Mammography Systems. Compound Tomography (CT) Scanners hold the largest market share and provide a market growth of 12% over the forecasted period. The factor owing to the market growth is the current computed tomography (CT) technology allows for near isotropic, sub-millimeter resolution acquisition of the complete chest in a single breath-hold. These thin-slice chest scans have become indispensable in thoracic radiology, but have also substantially increased the data load for radiologists. Automating the analysis of such data is, therefore, a necessity and this has created a rapidly developing research area in medical imaging. These factors present a review of the literature on computer analysis of the lungs in CT scans and address segmentation of various pulmonary structures, registration of chest scans, and applications aimed at detection, classification, and quantification of chest abnormalities. Based on Application, the Diagnostic Imaging Market is segmented into Brain & Neurological MRI, Spine & Musculoskeletal MRI, Vascular MRI, Cardiac, Radiology, Obstetrics/ Gynaecology, Mammography, and Others. Brain & Neurological MRI is the most dominating the segment and holds the largest market share and the owing growth factors provide the facilities like MRI-based medical image helps to analyze the brain tumor studies is gaining attention in recent times because of an increased need for efficient and objective evaluation of large amounts of cases. While the pioneering approaches applying automated methods for the analysis of brain tumor images date back almost, the segment provides methods are becoming more mature and coming closer to routine clinical application. This aims to provide a comprehensive overview by giving a brief introduction to brain tumors and imaging of brain tumors first. Then, the state of the art in segmentation, registration, and modeling related to tumor-bearing brain images with a focus on gliomas. The objective of the segmentation is to outline the tumor including its sub-compartments and surrounding tissues, while the main challenge in registration and modeling is the handling of morphological changes caused by the tumor. The qualities of different approaches are discussed with a focus on methods that can be applied to standard clinical imaging protocols. Finally, a critical assessment of the current state is performed and future developments and trends are addressed, giving special attention to recent developments in radiological tumor assessment guidelines. Based on End-User, the Diagnostic Imaging Market is segmented into Hospitals, Diagnostics Imaging Centres, and Other End-Users. Diagnostic Imaging Centers holds the largest market share and influences the market by a CAGR of 5.2% over the forecasted period. The attributing factor for the growth of this segment is it helps to facilitate the MRI/A which avoids the risks of arterial puncture, iodinated contrast load, and radiation exposure while providing information on arterial wall anatomy and obtaining a generalized arterial survey in TAK. This center provides the facilities like Ultrasound which can help detect sub-millimeter changes in wall thickness of the carotid arteries and in differentiating TAK from atherosclerotic disease based on minimal plaque content, concentric and long segmental involvement, and location of the lesion. Like MRI, CT angiography can be used to detect areas of aortic wall thickening and obtain a generalized survey of the aorta and its proximal branches for areas of stenosis and without the risks associated with arterial puncture. CT centers provide more detailed resolution than ultrasound and reduce the risks of contrast administration. Finally, PET scanning is the other factor that provides valuable information about cellular activity within an inflamed arterial wall before morphologic changes in other imaging studies.
Regional Insights:Diagnostic Imaging Market region is expected to witness significant growth at a CAGR of 5.75% through the forecast period. Europe's diagnostic imaging market is estimated to attain more than a 5.5% growth rate by 2029. The presence of several market participants focusing on developing innovative medical imaging systems or products for better patient management will prove advantageous for the industry demand. The increasing geriatric population requiring medical imaging modalities and favorable government initiatives will further prove advantageous for the industry value. Furthermore, the surging incidence of chronic diseases including cancer and others escalates the demand for advanced medical imaging devices in hospitals and diagnostic centers. The other factors for growth in the European diagnostic imaging market are mainly the rising geriatric population and associated diseases, easy accessibility to diagnostic imaging modalities, and high adoption of technological advancements (owing to the significant per capita annual healthcare expenditure by the government). The objective of the report is to present a comprehensive analysis of the global Diagnostic Imaging Market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The reports also help in understanding the Diagnostic Imaging Market dynamic and structure by analyzing the market segments and projecting the Diagnostic Imaging Market size. Clear representation of competitive analysis of key players by Design, price, financial position, product portfolio, growth strategies, and regional presence in the Diagnostic Imaging Market make the report investor’s guide.
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Diagnostic Imaging Market Report Coverage Details Base Year: 2022 Forecast Period: 2023-2029 Historical Data: 2018 to 2022 Market Size in 2022: US $ 29.67 Bn. Forecast Period 2023 to 2029 CAGR: 5.8% Market Size in 2029: US $ 44.03 Bn. Segments Covered: by Product Product1 X-Ray Imaging Systems Compound Tomography (CT) Scanners Conventional CT Systems Ultrasound Systems Magnetic Resonance Imaging (MRI) Systems Nuclear Imaging Systems SPECT Systems Hybrid SPECT Systems Mammography Systems byApplication Brain & Neurological MRI Spine & Musculoskeletal MRI Vascular MRI Cardiac Radiology Obstetrics/Gynecology Mammography Others by End-Users Hospitals Diagnostics Imaging Centers Other End-Users
Diagnostic Imaging Market by RegionNorth America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (razil, Argentina Rest of South America)
Key Players:1. GE Healthcare 2. Siemens Healthineer 3. Koninklijke Philips NV. 4. Canon Medical System Corporation 5. FUJIFILM Holdings Corporation 6. Hitachi Ltd. 7. Carestream Health Inc. 8. Esaote S.p.A 9. Hologic Inc. 10. Agfa-Geveaert N.V 11. SAMSUNG Electronics 12. Mindray Medical International 13. Planmed OY 14. CurveBeam LLC 15. Shimadzu Corporation Frequently Asked Questions: 1] What is the expected addressable market value of diagnostic imaging over the forecasted period? Ans. The global diagnostic imaging market is valued at USD 29.67 billion in 2022 and is expected to reach USD 44.03 billion by 2029 during the forecast period. 2] Which product segment is expected to garner the highest traction within the diagnostic imaging market? Ans. The Compound Tomography (CT) Scanners segment held the major share of the market in 2022. Technological advancements, new product launches coupled with a rising patient population have fuelled the growth of the segment. 3] What are the strategies adopted by the top market players to penetrate emerging regions? Ans. The key growth strategies adopted by the top players in this market include product launches and approvals; agreements and partnerships; and expansions. 4] What are the major factors expected to limit the growth of the diagnostic imaging market? Ans. The high cost of the diagnostic imaging system, technological limitations with standalone systems, and with declining reimbursements are expected to challenge market growth over the forecasted period. 5] What is the adoption pattern for diagnostic imaging products across major healthcare markets? Ans. In Europe, some modalities such as Ultrasound Systems are witnessing significant growth owing to factors such as a large number of ongoing clinical research projects in the field of ultrasound.
1. Global Diagnostic Imaging Market Size: Research Methodology 2. Global Diagnostic Imaging Market Size: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Global Diagnostic Imaging Market Size 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Global Diagnostic Imaging Market Size: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Global Diagnostic Imaging Market Size Segmentation 4.1. Global Diagnostic Imaging Market Size, by Product(2022-2029) • X-Ray Imaging Systems • Compound Tomography (CT) Scanners • Conventional CT Systems • Ultrasound Systems • Magnetic Resonance Imaging (MRI) Systems • Nuclear Imaging Systems • SPECT Systems • Hybrid SPECT Systems • Mammography Systems 4.2. Global Diagnostic Imaging Market Size, by Application(2022-2029) • Brain & Neurological MRI • Spine & Musculoskeletal MRI • Vascular MRI • Cardiac • Radiology • Obstetrics/Gynecology • Mammography • Others 4.3. Global Diagnostic Imaging Market Size, by End-Users(2022-2029) • Hospitals • Diagnostics Imaging Centers • Other End-Users 5. North America Diagnostic Imaging Market (2022-2029) 5.1. North America Diagnostic Imaging Market Size, by Product(2022-2029) • X-Ray Imaging Systems • Compound Tomography (CT) Scanners • Conventional CT Systems • Ultrasound Systems • Magnetic Resonance Imaging (MRI) Systems • Nuclear Imaging Systems • SPECT Systems • Hybrid SPECT Systems • Mammography Systems 5.2. North America Diagnostic Imaging Market Size, by Application(2022-2029) • Brain & Neurological MRI • Spine & Musculoskeletal MRI • Vascular MRI • Cardiac • Radiology • Obstetrics/Gynecology • Mammography • Others 5.3. North America Diagnostic Imaging Market Size, by End-Users(2022-2029) • Hospitals • Diagnostics Imaging Centers • Other End-Users 5.4. North America Diagnostic Imaging Market, by Country (2022-2029) • United States • Canada • Mexico 6. European Diagnostic Imaging Market (2022-2029) 6.1. European Diagnostic Imaging Market, by Product(2022-2029) 6.2. European Diagnostic Imaging Market, by Application(2022-2029) 6.3. European Diagnostic Imaging Market, by End-Users(2022-2029) 6.4. European Diagnostic Imaging Market, by Country (2022-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Diagnostic Imaging Market (2022-2029) 7.1. Asia Pacific Diagnostic Imaging Market, by Product(2022-2029) 7.2. Asia Pacific Diagnostic Imaging Market, by Application(2022-2029) 7.3. Asia Pacific Diagnostic Imaging Market, by End-Users(2022-2029) 7.4. Asia Pacific Diagnostic Imaging Market, by Country (2022-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. The Middle East and Africa Diagnostic Imaging Market (2022-2029) 8.1. The Middle East and Africa Diagnostic Imaging Market, by Product(2022-2029) 8.2. The Middle East and Africa Diagnostic Imaging Market, by Application(2022-2029) 8.3. The Middle East and Africa Diagnostic Imaging Market, by End-Users(2022-2029) 8.4. The Middle East and Africa Diagnostic Imaging Market, by Country (2022-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Diagnostic Imaging Market (2022-2029) 9.1. South America Diagnostic Imaging Market, by Product(2022-2029) 9.2. South America Diagnostic Imaging Market, by Application(2022-2029) 9.3. South America Diagnostic Imaging Market, by End-Users (2022-2029) 9.4. South America Diagnostic Imaging Market, by Country (2022-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. GE Healthcare 10.1.1. Company Overview 10.1.2. Financial Overview 10.1.3. Global Presence 10.1.4. Capacity Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Siemens Healthineer 10.3. Koninklijke Philips NV. 10.4. Canon Medical System Corporation 10.5. FUJIFILM Holdings Corporation 10.6. Hitachi Ltd. 10.7. Carestream Health Inc. 10.8. Esaote S.p.A 10.9. Hologic Inc. 10.10. Agfa-Geveaert N.V 10.11. SAMSUNG Electronics 10.12. Mindray Medical International 10.13. Planmed OY 10.14. CurveBeam LLC 10.15. Shimadzu Corporation