Diagnostic imaging helps to understand the functioning of body parts and create visual representation of interior of the body and provides support in detection of medical disorder. The continues increase in geriatric population, increasing prevalence of chronic diseases, and technological advancements are the major factors driving the growth of the global diagnostic imaging market. Additionally, increasing investment in RD and aggressive strategies adopted by the major players, such as new product launches along with merger and acquisitions, are contributing to the growth of the market. For instance, in March 2017, General Electric Company announced the acquisition of Monica healthcare for undisclosed amount, with this transaction the company will gain control over 1000 sites of Monica healthcare across Europe, Asia and north America.
The diagnostic imaging market is expected to grow at a CAGR 5.6% with USD 34.5 billion during the forecast period.
The high costs associated with diagnostic imaging devices, unfavourable reimbursement policies and scarcity of technicians are likely to hinder market growth during the forecast period.
The market in the Americas is expected to dominate the global diagnostic imaging market during the forecast period due to the increasing number of patients suffering from chronic diseases, surge in geriatric population, rising prevalence of cancer, and well-established healthcare system
The European market is expected to hold the second position in the global diagnostic imaging market owing to the government support and favorable regulatory policies, increasing medical and diagnostic centers, and increasing healthcare expenditure. Moreover, the market in Asia-Pacific is anticipated to be the fastest-growing during the forecast period owing to the increasing population and subsequently increasing chronic diseases, rising investment in healthcare and increase in disposable income. The market in the Middle East Africa is likely to hold the smallest share of the global diagnostic imaging market.
The global diagnostic imaging market has been segmented on the basis of product, source, and application.
Based on product type, the market has been divided into x-ray equipment, ultrasound imaging systems, nuclear imaging systems, magnetic resonance imaging (MRI), computed tomography (CT) scanners, and other products
The market, by application, has been segmented into gynecology, oncology, orthopedics, cardiology, gastroenterology, neurology, and other applications
The end-user segment has been further divided into hospitals and clinics, diagnostic centers, research institutes, and others.
Some of the key players in the global diagnostic imaging market are Siemens Healthcare Private Limited, Koninklijke Philips N.V.,CANON MEDICAL SYSTEMS CORPORATION, Shimadzu Corporation, Carestream Health,Esoate SpA, GE Healthcare, Toshiba Medical Systems Corporation,FUJIFILM Holdings Corporation, Hitachi Medical Systems, and Hologic Inc.
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