In the year 2018 Global Diagnostic Imaging Market was valued at USD 31.61 billion. By the year 2023, it is predicted to reach USD 43.51 billion with pace of 6.60% CAGR.
Medical imaging is the process of making a visual representation of the internal organs in the human body for medical intervention. These devices help in creating a database so that any abnormality can be noticed immediately in normal anatomy and physiology of internal organs. Many chronic diseases and injuries are detected, diagnosed, and treated as the diagnostic imaging has revolutionized in creating pictures of a patient’s internal anatomy and convert them into film representation. Diagnostic Imaging Market has applications in various medical fields like cardiology, oncology, neurology, and orthopedics.
Factors affecting market growth:
- Increasing prevalence of chronic diseases like cancer, cardiac, neurological, and musculoskeletal disorders globally. (+)
- Technological advancements in diagnostic imaging devices. (+)
- Increasing number of medical imaging techniques. (+)
- Rising of aging population. (+)
- Introduction of new Diagnostic Imaging products. (+)
- High cost devices. (-)
- More side effects of emitting radiations. (-)
- Lack of skilled professionals. (-)
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The Global Diagnostic Imaging Market is geographically segmented into
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
North America dominates the Global Diagnostic Imaging Market share due to presence of a large number of industry players and introduction of new products. Asia Pacific is rapidly growing in Diagnostic Imaging market and is expected to witness the highest growth rate during the forecast period due to increasing number of hospitals, rising of aging patients, and technological advancements in imaging systems.
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Leading companies in the Global Diagnostic Imaging Market are Hitachi Medical Corporation, Hologic Inc., Fujifilm Corporation, Shimadzu Corporation, GE Healthcare, Siemens Healthcare, and Toshiba Medical Systems Corporation.