The size of the Diagnostic Imaging Market at a global level was worth USD 33.7 billion in 2019 and estimated to be growing at a CAGR of 6.67%, to reach USD 46.5 billion by 2024.
Diagnostic imaging is also called medical imaging. In diagnostic imaging, electromagnetic radiation and other techniques of radiology are used to produce images of the interior of the body for clinical analysis and medical intervention. In most diagnostic laboratories and hospitals, new imaging techniques that reveal more anatomical details are available. The goal is to improve access and reliability, reduce costs, and reduce the impact of radiation.
COVID-19 impact on the global diagnostic imaging market
During this COVID-19 pandemic, the diagnostic imaging has been used to monitor the patients affected with Coronavirus. Ultrasound is used for tracking the symptom of pneumonia in COVID 19 patients, whereas MRI is for the monitoring of brain abnormality in COVID 19 patients. The factor mentioned above is expected to drive the market exponentially.
MARKET DRIVERS
Chronic illness liability is rising globally, and procedures for diagnostic imaging play a vital role in the accurate diagnosis of chronic conditions. The rise of the ageing population and shifts in social behaviour leads to steady growth for the global diagnostic imaging market in these widespread and costly long-term health issues.
The field of medical imaging is advancing at a high pace, stimulated by advances in digital technology and communication. Additionally, increased healthcare spending, favourable reimbursement policies, a large number of players in the market, increased awareness of early disease detection by the use of advanced diagnostic imaging technologies are some of the other crucial factors driving growth to the global diagnostic imaging market.
Furthermore, support from the government, Technological advancements in the field, increasing the use of digital imaging in healthcare centres, and growing support from IT sectors are also excelling the market growth.
MARKET RESTRAINTS
However, the high cost for treatment procedure is slowly restraining the demand of the market. Rise in the complications due to exposure of high radiations is another factor hindering the growth rate of the market.
REPORT COVERAGE
|
REPORT METRIC |
DETAILS |
|
Market Size Available |
2018 to 2024 |
|
Base Year |
2018 |
|
Forecast Period |
2019 to 2024 |
|
Segments Covered |
By Type, Application and Region |
|
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
|
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
This market research report on Global Diagnostic Imaging Market has been segmented and sub-segmented based on the type, application and region.
Diagnostic Imaging Market - By Type
Based on type, the ultrasound system has the largest market share in this segment. An increasing number of cancer patients across the world is enhancing the demand of the market. 3D imaging is anticipated to grow in all markets during the forecast period.
The CT scan has the second largest market share in the product segment. The use of AI in the CT scan has improved the image quality. The CT scan has contributed notably in the field of oncology, neurology and cardiology. The CT scan segment is a widely used method as it increases the chances of cancer discovery and decreases the cases of the patient being called for further tests.
Diagnostic Imaging Market - By Application
Regional Analysis
North America accounted for the largest share in the global Diagnostic Imaging market, with nearly 20% of the GDP spent on healthcare by the USA. An increasing number of patients with chronic diseases is fueling the growth rate of the market in this region. Technological advancement is driving the market in this region.
However, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as rapidly ageing populace and surge in the chronic disease population. Japan is the biggest diagnostic market in the Asia Pacific region. The emergence of advanced technology and the launch of innovative products are bolstering the demand of the market.
Diagnostic Imaging Market Share Insights
The major companies dominating the global diagnostic imaging market are GE Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Hologic Inc., Fujifilm Corporation, and Shimadzu Corporation.
Companies are showing a keen interest in enhancing image quality by developing new technologies and creating new devices or novel techniques to achieve images with higher spatial resolution. Imaging will continue to progress and provide an essential set of tools for clinical study, drug development, and disease diagnosis.
RECENT MARKET DEVELOPMENTS
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 New Developments
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 By Type
5.1.1 X-Rays
5.1.1.1 Portable X-Rays
5.1.1.2 Handheld X-Rays
5.1.2 Nuclear Medicine
5.1.2.1 Scintigraphy
5.1.2.2 PET Imaging
5.1.2.3 SPECT Imaging
5.1.3 Ultrasound
5.1.3.1 2D
5.1.3.2 3D
5.1.3.3 4D
5.1.3.4 Doppler Imaging
5.1.4 MRI
5.1.5 Tomography
5.1.6 Photoacoustic Imaging
5.1.7 Thermography
5.1.8 Tactile Imaging
5.1.9 Elastography
5.1.10 Functional near infrared spectroscopy
5.1.11 Echocardiography
5.2 By Application
5.2.1 Cardiology
5.2.2 Oncology
5.2.3 Neurology
5.2.4 Orthopedics
5.2.5 Gastroenterology
5.2.6 Gynecology
5.2.7 Others
6. Geographical Analysis
6.1 North America
6.1.1 Introduction
6.1.2 United States
6.1.3 Canada
6.2 Europe
6.2.1 Introduction
6.2.2 U.K
6.2.3 Spain
6.2.4 Germany
6.2.5 Italy
6.2.6 France
6.3 Asia-Pacific
6.3.1 Introduction
6.3.2 China
6.3.3 India
6.3.4 Japan
6.3.5 South Korea
6.3.6 Australia
6.4 Latin America
6.4.1 Introduction
6.4.2 Brazil
6.4.3 Argentina
6.4.4 Mexico
6.4.5 Rest of Latin America
6.5 Middle East & Africa
6.5.1 Introduction
6.5.2 Middle-East
6.5.3 Africa
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 GE Healthcare
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Strategic Evaluation and Operations
8.1.4 Financial analysis
8.1.5 Legal issues
8.1.6 Recent Developments
8.1.7 SWOT analysis
8.1.8 Analyst View
8.2 Siemens Healthcare
8.3 Toshiba Medical Systems Corporation
8.4 Hitachi Medical Corporation
8.5 Hologic Inc.
8.6 Fujifilm Corporation
8.7 Shimadzu Corporation
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Expert Opinions
10.1 Market Outlook
10.2 Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
Related Reports
Aug 2019
Download Sample
Aug 2019
Download Sample
Aug 2019
Download Sample
Aug 2019
Download Sample
