Diagnostic Imaging Market Size By Application, Growth Potential, Price Trend & Forecast 2019–2024

(The Express Wire via Comtex)

ReportsnReports.com publish a new report titled Global Diagnostic Imaging Market represents the current scenario of the market, and based on in-depth analysis of all the major factors that are expected to influence the demand in the near future, it estimates the state of the Diagnostic Imaging market by the forecast period.

2019 Research Report on Global Diagnostic Imaging Market is a professional and comprehensive report on the Diagnostic Imaging industry.

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Key Players: GE Healthcare US, Siemens Healthineers Germany, Koninklijke Philips N.V. Netherlands, Agfa-Gevaert N.V. Belgium, Canon Medical Systems Corporation Japan, Hitachi Ltd. Japan, Carestream Health, Inc. US, Esaote S.p.A Italy, Hologic, Inc. US, FUJIFILM Holdings Corporation Japan, Samsung Electronics South Korea, Mindray Medical International China, Planmed Oy Finland, CurveBeam LLC US, Shimadzu Corporation Japan among others.

“The global diagnostic imaging market is projected to grow at a CAGR of 5.5% during the forecast period”

Diagnostic imaging is the use of electromagnetic radiation in combination with other technologies by employing diagnostic imaging devices, to produce images of internal human body structures in order to diagnose accurately. The global diagnostic imaging market is projected to reach USD 33.5 billion by 2024 from USD 25.7 billion in 2019, at a CAGR of 5.5% from 2019 to 2024. The growth of this market is primarily driven by the increasing demand for early disease diagnosis and widening scope of clinical applications, rapidly growing geriatric population and the subsequent increase in the prevalence of associated diseases, technological advancements in diagnostic imaging industry, and increasing investments, funds, and grants by public-private organizations. However, the high cost of diagnostic imaging systems, technological limitations associated with standalone systems, declining reimbursements and increasing regulatory burden in the US and the shortage of helium availability are expected to limit market growth to a certain extent.

“The magnetic resonance imaging MRI systems segment accounted for the largest share of the global diagnostic imaging market in 2018”

On the basis of product, the diagnostic imaging market is segmented into magnetic resonance imaging MRI systems, ultrasound systems, CT scanners, X-ray imaging systems, nuclear imaging systems, and mammography systems. In 2018, the magnetic resonance imaging MRI systems segment accounted for the largest share of this market majorly due to the growing demand for early and accurate diagnosis, high adoption of MRI systems by hospitals and diagnostic centers across the globe, and advances in technology.

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“The general radiography application of X-ray systems accounted to be fastest market during forecast period ”

Based on application, the diagnostic imaging market is segmented into the respective modalities viz., MRI systems, ultrasound systems, X-ray imaging systems, CT scanners, nuclear imaging devices, and mammography systems, and their respective applications. Among the applications, the highest CAGR was estimated for diagnostic breast imaging by mammography systems. The second highest CAGR was estimated for diagnostic vascular ultrasound application. The growing demand for early diagnosis and technological advancements in diagnostic imaging modalities are some of the important factors that contribute to the high growth of these segments.

“Asia Pacific region accounted for the second-largest share of the global market in 2018”

The diagnostic imaging market is segmented into four major regions, namely North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific region accounted for the second-largest share in 2018. The increasing incidence of chronic diseases, growing awareness about the benefits of early disease diagnosis, improvements in healthcare systems, the flourishing medical tourism market in APAC countries, increasing government initiatives for modernizing the healthcare infrastructure, and the growing number of ongoing research activities related to the development of advanced diagnostic imaging modalities are some of the major factors driving market growth in this region.

Breakdown of supply-side primary interviews:

  • By Company Type: Tier 1 -25%, Tier 2- 30%, and Tier 3 - 45%
  • By Designation: C-level- 26%, Director-level -30%, and Others - 44%
  • By Region: North America -34%, Europe- 26%, APAC -23%, and RoW -17%

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In the end, the Global Diagnostic Imaging Market report’s conclusion part notes the estimation of the industry veterans.

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