What is the global market size of Diagnostic Imaging Market?

Global Diagnostic Imaging Market size was valued at USD 26267 million in 2021 and is poised to grow from USD 27685.42 million in 2022 to USD 42167.31 million by 2030, growing at a CAGR of 5.4% in the forecast period (2023-2030).

Who are the key vendors in the Global Diagnostic Imaging Market?

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. '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 '

What is the key driver of Global Diagnostic Imaging Market?

Factors such as the growing desire for early and cost-effective diagnosis of chronic diseases, as well as the world's ageing population, are expected to influence global demand for diagnostic imaging equipment. Some of the important factors driving market expansion are the introduction of technologically improved equipment and the increasing healthcare sector in Asian countries. For instance, in May 2020, Fujifilm Corporation will develop a new AI-based technology for lung nodule diagnosis. This method detects pulmonary nodules in chest CT scans to aid in the diagnosis of lung cancer. While, in November 2020, Canon Medical Systems Corporation will introduce One-Beat Spectral Cardiac CT, featuring quick kVp switching and deep learning spectral reconstruction, to gather whole-heart spectral pictures in one beat. The launch of several new products is expected to boost the demand hence propelling the growth of the market.

What is the key market trend for Global Diagnostic Imaging Market?

Introduction of technologically enhanced imaging equipment is the prime trend in the market. The primary reasons expected to contribute to expanding product demand throughout the projected period is the increased usage of modern AI-enabled diagnostic equipment for speedy diagnosis and predictive analysis in developed countries. Currently, just a few market participants are offering AI-enabled imaging solutions to the healthcare business. For example, in October 2019, Siemens Healthineers announced the Acuson Redwood ultrasound system, which provides an imaging solution for clinical departments like as radiology, cardiology, and obstetrics/gynecology. The system is portable and lightweight, with a variety of AI-based capabilities for smart workflows and cardiology features. Hologic, Inc. declared in December 2020 that Genius AI Identification technology had received U.S. Food and Drug Administration approval for the early detection of breast cancer. It is projected that the availability of equipment with AI capabilities will increase demand and propel the medical imaging industry forward.

Which region accounted for the largest share in Global Diagnostic Imaging Market?

In 2021, North America is expected to have the biggest share of the market. The growth of the diagnostic imaging market in this region is being driven by an increase in the number of patients receiving diagnostic imaging treatments in the nation. Due to the presence of established healthcare facilities and the rising need for cutting-edge healthcare systems among the ageing population, Europe is predicted to develop at a high CAGR. At around 44 MRI systems per 100,000 inhabitants, the United States comes in second place globally in terms of installed MRI systems per million residents, trailing only Japan, which has 55 systems per 100,000.

Diagnostic Imaging Companies

Diagnostic Imaging Market Competitive Landscape

Diagnostic Imaging Industry Top Player’s Company Profiles

GE Healthcare
Siemens Healthineers
Koninklijke Philips N.V.
Canon Medical Systems Corporation
Hitachi Medical Corporation
Fujifilm Holdings Corporation
Carestream Health
Hologic, Inc.
Samsung Medison
Shimadzu Corporation
Agfa-Gevaert Group
Mindray Medical International Limited
Esaote S.p.A.
Planmed Oy
Analogic Corporation
Neusoft Medical Systems Co., Ltd.
CurveBeam
Konica Minolta, Inc.
United Imaging Healthcare Co., Ltd.
Toshiba Medical Systems Corporation

Diagnostic Imaging Industry

FAQs

Global Diagnostic Imaging Market size was valued at USD 32.3 billion in 2022 and is poised to grow from USD 33.85 billion in 2023 to USD 49.26 billion by 2031, growing at a CAGR of 4.8% during the forecast period (2024-2031).

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. 'GE Healthcare ', 'Siemens Healthineers ', 'Koninklijke Philips N.V. ', 'Canon Medical Systems Corporation ', 'Hitachi Medical Corporation ', 'Fujifilm Holdings Corporation ', 'Carestream Health ', 'Hologic, Inc. ', 'Samsung Medison ', 'Shimadzu Corporation ', 'Agfa-Gevaert Group ', 'Mindray Medical International Limited ', 'Esaote S.p.A. ', 'Planmed Oy ', 'Analogic Corporation ', 'Neusoft Medical Systems Co., Ltd. ', 'CurveBeam ', 'Konica Minolta, Inc. ', 'United Imaging Healthcare Co., Ltd. ', 'Toshiba Medical Systems Corporation'

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.

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.

Geographically, North America dominated the market share 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.

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Diagnostic Imaging Market Size, Share, Growth Analysis, By Modality (X-Ray Imaging, Computed Tomography), By Application (Cardiology, Oncology), By End Users (Hospitals, Research Institutes), By Region - Industry Forecast 2024-2031

Diagnostic Imaging Market Competitive Landscape

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Diagnostic Imaging Market Size, Share, Growth Analysis, By Modality (X-Ray Imaging, Computed Tomography), By Application (Cardiology, Oncology), By End Users (Hospitals, Research Institutes), By Region - Industry Forecast 2024-2031

Diagnostic Imaging Market Competitive Landscape

Diagnostic Imaging Market Report Snapshots

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What is the global market size of Diagnostic Imaging Market?

Who are the key vendors in the Diagnostic Imaging Market?

What is the key driver of Diagnostic Imaging Market?

What is the key market trend for Diagnostic Imaging Market?

Which region accounted for the largest share in Diagnostic Imaging Market?

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