USD 26267 million
Diagnostic Imaging Market Size, Share, Growth Analysis, By Type(Magnetic Resonance Imaging (Closed MRI and Open MRI), X-Ray Imaging (X-ray Digital Imaging Systems and X-ray Analog Imaging Systems), Ultrasound Imaging (2D Ultrasound, 3D and 4D Ultrasound), By Application(General Imaging, Cardiology, Gynecology, Oncology), By End-User(Hospitals & Clinics and Diagnostic Imaging Centers), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG35A2164 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
96
|Figures:
76
Diagnostic Imaging Market Insights
Diagnostic Imaging Market size was valued at USD 26267 million in 2019 and is poised to grow from USD 27685.42 million in 2023 to USD 42167.31 million by 2031, growing at a CAGR of 5.4% in the forecast period (2024-2031).
Diagnostic imaging market is a key subdivision of the healthcare industry focused on solutions and technologies that create pictures of the human body’s interior for medical intervention and clinical analysis. The market is majorly driven by the growing incidences of chronic illnesses, aging population, and increasing investment in healthcare infrastructure. The rising number of advancements in imaging technologies and growing awareness for improved technologies is also fueling the market growth. Nonetheless, the market is restrained by high priced equipment like CT scanners and MRIs and the rising number of regulatory and compliance challenges. Yet, the market is expected to gain significant growth owing to opportunities like the growing integration of machine learning and AI and rising focus on early detection of diseases.
US Diagnostic Imaging Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals & Clinics
Fastest Growth
Hospitals & Clinics
Growth Rate
5.4% CAGR
Global Diagnostic Imaging Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Diagnostic Imaging Market Segmental Analysis
Global Diagnostic Imaging market is segmented based on Type, Application, End-User, and region. Based on the type, the Diagnostic Imaging market is segmented as Magnetic Resonance Imaging (Closed MRI and Open MRI), X-Ray Imaging (X-ray Digital Imaging Systems and X-ray Analog Imaging Systems), Ultrasound Imaging (2D Ultrasound, 3D and 4D Ultrasound, and Doppler Ultrasound), Computed Tomography, and Nuclear Imaging. Based on the Application, the Diagnostic Imaging market is segmented as General Imaging, Cardiology, Gynecology, Oncology, Neurology, Orthopedics, and Other Applications. Whereas, based on the End-User, the Diagnostic Imaging market is segmented as Hospitals & Clinics, and Diagnostic Imaging Centers. Based on the region it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Diagnostic Imaging Market Analysis by Type
Based on type, the diagnostic imaging market is categorized into magnetic resonance imaging (closed MRI and open MRI), X-RAY imaging (X-Ray digital imaging systems and X-Ray analog imaging systems), ultrasound imaging (2D ultrasound, 3D and 4D ultrasound, and doppler ultrasound), computed tomography, and nuclear imaging. The computed tomography segment held a notable share of the market in the previous years and is expected to lead over the forecast period as well owing to high accuracy, versatile applications, and rising demand for detection of chronic diseases. Computer tomography offers in-depth cross-sectional pictures that improve visuals. The technology is prominently used for cardiology and oncology, which are widely prevalent diseases across the globe. They are also constantly upgraded with technologies, including fast scanning capabilities, multi-slice CT that reduce scan times and enhance imaging quality.
On the other hand, the ultrasound imaging segment is projected to grow considerably over the forecast period owing to its safety and non-invasive nature, broad applications, cost-efficient, and portability. The technology uses sound waves that make it safe with no adverse-effects and preferred by healthcare physicians and patients. They are used in prominently cardiology, obstetrics, musculoskeletal imaging. They also offer quick results for real-time guiding procedures and are comparatively economical than other modalities. Portable technology used in ultrasound increases accessibility, mainly in the remote care and emergency settings, which impacts the growth of the segment.
Diagnostic Imaging Market Analysis by End User
Based on end user, the market is segmented into hospitals & clinics and diagnostic imaging centers. The hospitals & clinics segment held a notable market share in the previous years and is expected to continue dominance over the forecast period as well owing to the growing patient pool and access to advanced technology. Clinics and hospitals handle large numbers of patients that considerably demand advanced diagnostic imaging solutions. They offer a broader range of services like surgeries, emergency care, and outpatient procedures that demand different imaging modalities. Moreover, these settings are well-equipped with timely treatment and accurate diagnostics.
On the other hand, the diagnostic imaging centers segment will hold a notable market share in the forthcoming years owing to better accessibility and specialization offered. Diagnostic imaging centers emphasize majorly imaging facilities, providing numerous advanced modalities with specialization. They also offer convenience to diagnostics with comparatively less waiting time than hospitals. Also, diagnostic imaging centers, when operated anonymously enable competitive pricing, making imaging affordable for insurers and patients. These centers have flexible working handling patient requirements and growing use, thus impacting the segmental growth.
Global Diagnostic Imaging Market Size By End-User
To get detailed analysis on other segments, Request For Free Sample Report
Diagnostic Imaging Market Regional Insights
Geographically, North America dominated the market in the previous years and is expected to lead over the forecast period owing to improved healthcare infrastructure, growing healthcare expenditure, and supportive regulatory norms. North America holds a well-developed healthcare infrastructure with easy access to cutting-edge imaging technologies. Major investments are seen in healthcare technologies and services that positively impact the adoption of modernized imaging modalities. The region is also a leading center for research and development, that considerably boosts improvements in imaging practices and technologies. Furthermore, favorable reimbursement policies and regulations streamline the demand for diagnostic imaging. The prominent players profiled in the region are Siemens Healthineers, GE Healthcare, Philips Healthcare, Canon Medical Systems USA, Carestream Health, Hologic, and more.
Europe is the fastest-growing region in the global diagnostic imaging market due to the speedy adoption of advanced technologies and the presence of a strong regulatory framework. European nations are fast adopters of the latest technologies and solutions in healthcare. Strong regulations confirm high quality and safety standards in imaging facilities that nurture their use and trust among professionals. Regional growth is also impacted by emphasis on preventive care and growing healthcare investments. Rising focus on early detection of diseases and preventive measures is boosting the demand for diagnostic imaging in diverse healthcare domains. Major investments in private and public healthcare infrastructure are also aiding the expansion of imaging services in the region.
Global Diagnostic Imaging Market Size By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Diagnostic Imaging Market Dynamics
Diagnostic Imaging Market Driver
Growing Expenditures of Healthcare
- Rising investments in healthcare infrastructure and growing government initiatives are majorly driving the diagnostic imaging market. Several developed and developing nations are heavily investing in healthcare equipment improving diagnostic imaging services. Moreover, there are numerous policies that are aimed at enhancing healthcare quality and accessibility mostly comprise upgrading imaging facilities.
Growing Demand for Early Diagnosis
- Growing awareness among patients and increasing number of screening programs are also impacting the market growth. Rising awareness regarding the significance of early disease detection results in the demand for more imaging services. Also, national screening programs for diseases like lung disease and breast cancer actively demand regular imaging, thus affecting the growth of diagnostic imaging market.
Restraints
Lack of Skilled Experts
- The growing need for expertise and training and a number of workforce challenges are restraining market growth. In most developing regions, there is lack of professionals and well-trained technicians and radiologists that may restrict the use of improved imaging solutions, negatively affecting the market growth. Also, high turnover burnout and rates among medical professionals may worsen this factor.
Data Security Concerns
- Growing dependency on electronic health records and digital imaging exposes facilities to cyberattacks. This increases the risk to patient privacy and security, thus impeding the adoption of advanced imaging solutions. Facilities must also comply with data protection protocols, which could need multiple resources. This may impact the slow or no adoption of imaging facilities.
Request Free Customization of this report to help us to meet your business objectives.
Diagnostic Imaging Market Competitive Landscape
Regional firms such as Shimadzu and Mindray and Shimadzu are focussing on the development of specialized imaging technologies to level up their game in the market competition. On the other side, budding competitors such as Hologic and Fujifilm are making significant investments in quality improvement of their already existing products, thereby gaining a notable market share. The integration of artificial intelligence, portable imaging, telemedicine, and developments in 3D/4D imaging are key topics that have substantial growth potential in emerging countries. Leading companies in the diagnostic imaging industry worldwide provide a comprehensive variety of imaging services, including MRI, CT, and ultrasound.
Diagnostic Imaging Market Top Player’s Company Profiles
- Shimadzu Corporation
- Samsung
- GE Healthcare
- Siemens Healthineers
- Philips Healthcare
- Canon Medical Systems
- Hitachi Medical Systems
- Fujifilm Holdings Corporation
- Hologic Inc.
- Carestream Health
- Toshiba Medical Systems Corporation
- Esaote SpA
- Koninklijke Philips N.V.
- Analogic Corporation
- Bracco Imaging S.p.A.
- Agfa-Gevaert N.V.
- Varian Medical Systems, Inc.
- Terarecon, Inc.
- Ziehm Imaging GmbH
- Mindray Medical International Limited
Diagnostic Imaging Market Recent Developments
- In April 2024, Shimadzu Medical Systems USA acquired (CIS) California X-ray Imaging Services, Inc. for the expansion of healthcare (diagnostic) services in North America. This acquisition will help the growth in Nevada and Northern California with a focus on satisfying the growing consumer expectations.
- In November 2023, Samsung will present its modern innovation in superior mobile CT, comprising the improved OmniTom Elite with (PCD) Photon Counting Detector solution. The launch of OmniTom Elite Photon Counting CT mobile scanner is a single-source photon counting CT scanner that will use Samsung’s PCD technology.
- In May 2024, GE HealthCare and Medis Medical Imaging declared their alliance to support improved precision care in treating and diagnosing (CAD) coronary artery disease. The collaboration will further focus on producing and selling Medis QFR, a painless method to examine coronary physiology.
Diagnostic Imaging Key Market Trends
- Advanced Visualization and 3D Imaging: The growing use of 3D printing and improved reconstruction methods are notably trending in the diagnostic imaging market. 3D printing is majorly used to develop anatomical models or designs from imaging data. This helps in planning of pre-surgeries and educate patients for the same. Moreover, advanced reconstruction methods improve details and clarity of 3D images in computed tomography and magnetic resonance imaging.
- POC and Portable Imaging: Growing use of mobile devices and point-of-care testing are a few other trends seen in the diagnostic imaging market. The growth of handheld imaging devices and portable ultrasound devices is increasing the accessibility of diagnostics in diverse settings, comprising rural care and emergency. Quick testing technologies are also being implemented in emergency settings and clinics to offer faster diagnostics.
Diagnostic Imaging Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per SkyQuest analysis, the diagnostic imaging market is considerably progressing due to the expanding applications of diagnostic imaging, supportive reimbursement policies, and growing partnerships and alliances. However, the market is hampered by technological obsolescence, pricing and competition pressure, and concerns associated with radiation exposure. North America is anticipated to lead the market owing to the growing elderly population that demands advanced diagnostic imaging, focus on research and development, and technological improvements. Nonetheless, a few opportunities for the growth of the diagnostic imaging market include the growing number of value-based healthcare models, modernized imaging modalities, and sustainability initiatives.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 26267 million |
| Market size value in 2031 | USD 42167.31 million |
| Growth Rate | 5.4% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Diagnostic Imaging Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Diagnostic Imaging Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Diagnostic Imaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Diagnostic Imaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Diagnostic Imaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Diagnostic Imaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
USA (+1) 351-333-4748
