Diagnostic Imaging Market Overview
An overview of conceptual frameworks, analytical approaches of the diagnostic imaging market is the main objective of the report, which further consists of the market opportunity and insights of the data involved in the making of the respective market. The diagnostic imaging market is expected to grow with a significant rate in the near future.
The diagnostic Imaging market 2020 is accounted for US$ 27.3 Bn and expected to reach at a value of US$ 41.1 Bn by 2028 with a significant CAGR of 5.3%.
Diagnostic Imaging Market Dynamics
Imaging or radiography is the first line diagnostic test recommended in majority of diseases. According to WHO, 70-80% of the clinically relevant questions can be solved through diagnostic imaging such as radiography and ultrasonography. Modern diagnostic imaging offers a vast spectrum of modalities and techniques, which enables the study the function and morphology of the human body in details that approaches science fiction.
Among all diagnostic imaging techniques, ultrasonography is the most economic as both equipment and infrastructure are inexpensive, and thus the technique spread very quickly. Well-regulated use of X-ray imaging techniques by national and international laws makes it the best diagnostic imaging technique.
Technological advancements in diagnostic imaging devices are the major factor driving the growth of global diagnostic imaging market. Introduction of magnetic resonance imaging and molecular imaging techniques have revolutionized the global diagnostic imaging market.
Growing prevalence of chronic diseases is further driving the growth of global diagnostic imaging market. However, requirement of highly developed infrastructure for modern imaging equipment is limiting the growth of global diagnostic imaging market. Thousands of hospitals and institutions worldwide do not have the possibilities to perform even these fundamental imaging procedures, for lack of equipment and/or diagnostic imaging skills.
The global diagnostic imaging market was valued at US$ xx Bn in 2018 and is expected to reach to the value of US$ XX Bn by 2027, expanding at an impressive CAGR of 6.4% over 2019 to 2027.
Diagnostic Imaging Market Competitive Landscape
Some of the key players identified in global diagnostic imaging market are GE Healthcare, Toshiba Medical Systems Corporation, Hitachi Ltd., Siemens Healthineers, Koninklijke Philips N.V., Hologic, Inc., Fujifilm Corporation, Shimadzu Corporation, Carestream Health, Inc., Varian Medical Systems etc. among others.
Diagnostic Imaging Market Segmentation
The global diagnostic imaging market is segmented on the basis of product type, application, end user and region.
By Product Type
X-ray Imaging Systems
X-ray Digital Imaging Systems
Direct Radiography (DR)
Computed Radiography (CR)
X-ray Analog Imaging Systems
Computed Tomography (CT) Scanners
Conventional CT systems
Cone Beam CT Systems (CBCT)
Conventional CT Systems Market, by Technology
High-slice CT Scanners
Mid-slice CT Scanners
Low-slice CT Scanners
3D and 4D Ultrasound
Trolley/Cart-based Ultrasound Systems
Compact/Portable Ultrasound Systems
Magnetic Resonance Imaging (MRI) Systems
By Field Strength
High- and Very-high-field MRI Systems
Low-to-mid-field MRI Systems
Ultra-high-field MRI Systems
Nuclear Imaging Systems
Standalone SPECT Systems
Hybrid SPECT Systems
Hybrid PET Systems
X-ray Imaging Systems
Brain & Neurological MRI
Spine & Musculoskeletal MRI
Pelvic & Abdominal MRI
Nuclear Imaging Systems
By End User
Diagnostic Imaging Market Regional Segmentation
On the basis of region, the global diagnostic imaging market is segmented into six regions namely North America, Latin America, Asia Pacific, Europe, Middle East, and Africa. North America diagnostic imaging market is expected to be the most dominating market throughout the forecast period due to growing number of hospitals and diagnostic centers. However, consolidation in healthcare industry in the European Union is expected to show slowdown in growth of diagnostic imaging market in the region.
MMC Overview on Diagnostic Imaging Market Report
The non-identical approach of Meridian Market Consultants stands with conceptual methods backed up with the data analysis. The novel market understanding approach makes up the standard of the assessment results that give better opportunity for the customers to put their effort.
A research report on the Diagnostic Imaging market by Meridian Market Consultants is an in-depth and extensive study of the market based on the necessary data crunching and statistical analysis. It provides a brief view of the dynamics flowing through the market, which includes the factors that supports market and the factors that are acting as impedance for the growth of the market.
Furthermore, the report includes the various trends and opportunities in the respective market in different regions for a better understanding of readers that helps to analyze the potential of the market. The report is titled as ‘Diagnostic Imaging Market: Opportunity Analysis and Future Assessment 2020-2028’.
Factors that are benchmarked while estimating the market
Various factors that are benchmarked while estimating the market growth includes (but not restricted to):
New product designs and launches
Current product compliance
Concerns for use of Diagnostic Imaging products
Advantages of Diagnostic Imaging
Actions taken by the manufacturer and respective regulatory authorities also impact the market growth of the segment. These factors are understood at regional level and in major countries globally for providing regional insights of the product segment in the report. This helps our clients to take informed decision.
A mix of top-down and bottom-up approach is followed to arrive and validate our market value estimations. For a product segment like wherein one/two manufacturer(s) dominates the market, it’s products sales, previous growth rates and market expansion plans are considered to generate market share in the global market.