Overview

Diagnostic Imaging Market Introduction:

Diagnostic Imaging Market to value over US $ 36.68 billion and grow at a CAGR of over 5.5% during the forecast period of 2020 to 2027.

With rising consciousness about the benefits of early-stage diagnosis which has resulted in a surge for the demand for diagnostic services.This is regarded as an essential and primary growth inducer for the global medical imaging market. Factors such as rising geriatric population and access to cost-effective medical imaging systems are also making a positive impact on the market. Technological improvements are playing an important role, as it is central to the particular healthcare vertical. Hence, market players are consistently exploring and innovating to develop more efficient medical imaging devices.

With the rise in geriatric population, the prevalence of chronic diseases is also on the rise. This is due to the erratic sedentary lifestyle and poor dietary patterns. Cardiovascular and cancerous ailments cause major casualties and are proven to be fatal. Early diagnosis can greatly increase patient survival rate, which is why developing countries are taking initiatives to spread awareness about medical imaging and diagnostics.

Demand for diagnostic services is anticipated to grow during the forecast period due to a rise in the number of patients gaining access to medical facilities. Medical imaging will remain a pivotal area of focus for healthcare technology companies.The market is likely to witness new entrants who will explore and fund unique and novel imaging solutions.The emphasis that is being placed on the technical aspects of medical imaging has led to increased processing speed, integrating 3D and 4D imaging technology and automation among others. Such technological enhancements are favoring the adoption of medical imaging in hospitals and diagnostic centers.

Globally, North America and Europe will collectively account for major market share in the diagnostic imaging systems market. This can be mainly attributed to the presence of established players, increasing adoption of telemedicine, and the rise in the prevalence of chronic diseases in these regions.

The governments across the globe are running awareness programs to educate people regarding early diagnosis of chronic diseases. Such initiatives make patients aware of the early diagnosis among healthcare providers and consumers. Diagnostic imaging has helped doctors to detect diseases in the beginning, thereby improving patient survival rates. Diagnostic imaging systems improve healthcare quality and reduce healthcare costs by shortening recovery time and avoiding unnecessary invasive procedures. Such factors are playing a pivotal role in the growth of the diagnostic imaging systems market.

The market is characterized by developments and strategies by main firms. For instance, in 2019, the U.S. Food and Drug Administration (USFDA) approved Siemens Healthineers’ MAGNETOM Lumina 3 Tesla MRI scanner. The system features BioMatrix patient personalization technology, which significantly improves productivity while reducing scan time. Furthermore, in 2018, Carestream Health Inc. received the USFDA 510(k) clearance for its OnSight 3D Extremity System. This imaging system uses cone beam CT technology to capture weight-bearing and other types of extremity exams. These developments fuel the market and advance it globally, thus helping it grow extensively.

Major firms in the diagnostic imaging systems market are:

• GE Healthcare
• Siemens Healthineers
• Koninklijke Philips N.V.
• Canon Medical Systems Corporation
• FUJIFILM Holdings Corporation
• Hitachi Ltd.
• Carestream Health, Inc.
• Esaote S.p.A
• Hologic, Inc.
• Agfa-Gevaert N.V.
• Samsung Electronics
• Mindray Medical International
• Planmed Oy
• CurveBeam LLC
• Shimadzu Corporation
• Allengers Medical Systems
• Neusoft Medical Systems
• Konica Minolta, Inc.
• NP, JSC Amico
• Konica Minolta
• SternMed
• Allengers
• Neusoft Medical Systems
(Note: The list of the major players will be updated with the latest market scenario and trends)

Diagnostic Imaging Market

Diagnostic Imaging Market Segmentation:

By Product
• CT Scanners
o Conventional CT Scanners
• High-slice CT Scanners
• Mid-slice CT Scanners
• Low-slice CT Scanners
o Cone Beam CT Systems (CBCT)
• Ultrasound Systems
o By Technology
• 2D Ultrasound
• 3D and 4D Ultrasound
• Doppler Ultrasound
o By Portability
• Trolley/Cart-based Ultrasound Systems
• Compact/Portable Ultrasound Systems
• X-ray Imaging Systems
o By Type
• Digital X-ray Imaging Systems
o Direct Radiography (DR)
o Computed Radiography (CR)
• Analog X-ray Imaging Systems
o By Portability
• Stationary Systems
• Portable Systems
• Magnetic Resonance Imaging (MRI) Systems
o By Architecture
• Closed MRI
• Open MRI
o By Field Strength
• High and Very-high-field MRI Systems
• Low-to-mid-field MRI Systems
• Ultra-high-field MRI Systems
• Nuclear Imaging Systems
o SPECT Systems
• Hybrid SPECT Systems
• Standalone SPECT Systems
o Hybrid PET Systems
• Mammography Systems

By Application
• X-ray Imaging Systems
o General Radiography
o Dental
o Fluoroscopy
• MRI Systems
o Brain & Neurological MRI
o Spine & Musculoskeletal MRI
o Vascular MRI
o Pelvic & Abdominal MRI
o Breast MRI
o Cardiac MRI
• Ultrasound Systems
o Radiology/General Imaging
o Cardiology
o Obstetrics/Gynecology
o Urology
o Vascular
o Other Applications
• CT Scanners
o Cardiology
o Oncology
o Neurology
o Other Applications
• Nuclear Imaging Systems
o Cardiology
o Oncology
o Neurology
o Other Applications
• Mammography Systems

By End User
• Hospitals
• Diagnostic Imaging Centers
• Other End Users

By Region
• Europe
• North America
• APAC
• Latin America
• Rest of the World

Competitive Landscape:

● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants

FutureWise Takeaways:
● Growth prospects
● SWOT analysis
● Key trends
● Key data points affecting market growth

Objectives of the Study:
● To provide an exhaustive analysis on the global diagnostic imaging market by product, by application, by end-user and by region
● To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
● To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the rest of the world
● To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and core competencies

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