Worldwide Diagnostic Imaging Market was US$ 35.11 Billion in 2022
Global Diagnostic Imaging Market Analysis
The diagnostic imaging market is expected to reach a figure of US$61.51 billion by 2032 from US$36.97 Billion, with a CAGR is 5.82% from 2024 and 2032. Currently the health care markets are expanding globally and there are opportunities to be found in such a market. The market is mainly fuelled by the rising number of geriatric people and likelihood of getting lifestyle diseases through lack of physical activity, diseases of the aging and many other similar diseases.
Diagnostic Imaging Outlooks
Diagnostic imaging encompasses several processes through which images of the body’s structures are made for diagnosis purposes. Diagnostic imaging includes several procedures for the generation of detailed pictures of internal structures of the human body for diagnostic purposes. These imaging techniques include X-ray, computed tomography popularly known as CAT scan, magnetic resonance imaging also known as MRI scan, ultrasound, and positron emission tomography commonly known as PET scan. Both methods use various techniques like X-ray and CT scan expose the body to ionizing radiation to capture images, MRI and some radio waves to create images, ultrasound uses sound waves, and PET scan uses some radioactive tracers to take pictures that can help health care practitioners to diagnose diseases, injuries, and other body abnormalities.Diagnostic imaging is important in today’s practice of medicine because it allows early identification, proper identification of diseases, as well as treatment planning in a multitude of medical disciplines. For instance, X-rays are powerful diagnosing in cases with fractures and dental diseases, while CT scans make it possible to observe bones, blood vessels and organs. MRI aid in diagnosing conditions that affect soft tissues such as the brain and spinal cord, and the musculoskeletal system while ultrasound is used in diagnosing the growth of the fetus and diseases affecting organs in the abdomen. PET scans are used in diagnosis of cancers and assessment of metabolic activities within the body. It can therefore be concluded that these imaging techniques help enhance the patient’s welfare and also help the medical profession make better decisions.
Driving Forces for the Diagnostic Imaging Market
Continuous innovations in diagnostic imaging technologies
Ongoing advancements in the diagnostic imaging equipment including MRI, CT, ultrasound, etc., are factors that boost the market growth because of better image resolution, short scan time, better software for image analysis. From the improvements in diagnosis, accessibility and efficiency of services, the impact goes to the quality of service delivery and the results achieved in the diagnosis and treatment of patients. These advancements are helpful to healthcare providers since they aim to deliver better and more efficient treatment; thus, the diagnostic imaging market experiences growth globally.Increasing incidence of chronic diseases
The rise in the incidence of chronic diseases like cardiovascular diseases, cancer, and neurological disorders boosts the requirement of diagnostic imaging systems. These modalities play significant roles in the diagnosis of diseases in their early stages, correct staging, as well as continuous surveillance of diseases in an individual hence promoting early medical intercession and better treatment results. Diagnostic imaging thus plays a critical role in establishing health care procedures of conditions that affect patients, thus can direct recognized approaches to successful treatment depending on the needs of the patient. As they offer rich information regarding the characteristics of the human body and disease states, these technologies assist the clinicians to make relevant decisions and enhance the general satisfaction offered by the health care facilities in |different branches of medicine. As chronic diseases remain major causes of morbidity and mortality globally, the value of imaging in enhancing diagnostic precision and optimising the outcomes of therapy cannot be overemphasised in the challenges of controlling the burden of this group of diseases to mankind.With a growing elderly population globally
The elderly population of the world is rising, and there is thus need to employ imaging in early diagnosis of such health conditions as arthritis, dementia, and cardiovascular diseases. Older patients often need imaging for tracking the diseases’ progression, evaluating the treatment outcomes, and signs of complications. MRI, CT, and ultrasound all offer clear outlines of the human body and disease processes in elders. Technological applications assist the care givers in planning the right line of action that would help to improve the health status and quality of life among the patients. Thus, the role of diagnostic imaging advances in addressing the population’s current and future healthcare challenges, particularly as the population continues to age, cannot be understated.Demand for Minimally Invasive Procedures
Diagnostic imaging helps in avoiding many invasive procedures which may require invasive surgeries since it provides clear visual images of the structures within the body. This capability decreases durations of staying in the hospital, patients’ turnarounds and total health costs. Thus, healthcare providers and healthcare facilities incorporate these technologies into their patient care processes to improve efficacy, reduce complications, and achieve better client results. This trend is a clear indication showing how diagnostic imaging plays a critical role of moving healthcare towards the progressive practice of minimally invasive and efficient practices in the different specialties.Asia Diagnostic Imaging Market
Asia diagnostic imaging Market is growing due to factors such as increasing investment in the overall healthcare facilities, rising concern for health expenditure, and increasing focus on early diagnostics of chronic diseases in countries like China, India, Japan and South Korea. Recent developments such as MRI, CT scan and ultrasound assist doctors in early diagnosis of diseases and hence and enhance patients’ experience. Strategic government programs aimed at IT adoption in healthcare centres and increased use of state-of-the-art technologies advance the market’s development. Moreover, increased life expectancy of the population depicted in the region empowers demand for enhanced diagnostic imaging services for elderly patients. Some of the hurdles faced by Asia diagnostic imaging market include high cost prices of equipment, uneven legal structures that either favours or hinders diagnostic imaging equipment business, and thus, it has continued to expand due to need for accurate and efficient diagnosis caused by change in Asia health care systems.Diagnostic Imaging Company Analysis
The top diagnostic imaging companies are FUJIFILM VisualSonics Inc., Canon Medical Systems Corporation, Bruker Corporation, PerkinElmer Inc., Hitachi, Hologic, Radnet, and Koninklijke Philips.Diagnostic Imaging Company News
In March 2024, using NVIDIA technology, GE Healthcare created SonoSAMTrack1, its most recent research model. SonoSAM1, a promotable fundamental model intended for object segmentation in ultrasound imaging, is the basis for this novel model.In January 2024, Canon revealed Aplio Me, a cutting-edge shared-service ultrasound system built to satisfy frequent users' needs in various medical contexts.
Koninklijke Philips N.V. introduced the high-end Philips CT 3500 system in May 2023, designed to meet the needs of high-volume screening programs and regular radiography.
In February 2023, GE Healthcare announced the acquisition of Caption Health, Inc., a privately held AI healthcare provider. Caption Health employs artificial intelligence (AI) to assist with ultrasound scans and creates clinical apps to identify early disease.
In May 2022, Samsung announced the GM85 Fit. This new mobile radiography equipment has been certified by the FDA, aiming to broaden its customer base and increase the amount of time its products are sold in the American market.
Product- Market breakup in 5 viewpoints:
1. X-Ray2. CT
3. Ultrasound
4. Nuclear Imaging
5. Others
Application- Market breakup in 4 viewpoints:
1. Orthopedics2. Cardiovascular
3. Neurology
4. Pelvic & Abdomen
5. Oncology
End User- Market breakup in 4 viewpoints:
1. Hospital2. Diagnostic Center
3. Others
Country - Market breakup of 25 Countries:
North America
- United States
- Canada
Europe
- France
- Germany
- Italy
- Spain
- United Kingdom
- Belgium
- Netherland
- Turkey
Asia Pacific
- China
- Japan
- India
- South Korea
- Thailand
- Malaysia
- Indonesia
- Australia
- New Zealand
Latin America
- Brazil
- Mexico
- Argentina
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
All the key players have been covered from 4 Viewpoints:
- Business Overview
- Product Portfolio
- Recent Development & Strategies
- Financial Insight
Key Players Analysis:
1. FUJIFILM VisualSonics Inc.2. Canon Medical Systems Corporation
3. Bruker Corporation
4. PerkinElmer Inc.
5. Hitachi
6. Hologic
7. Radnet
8. Koninklijke Philips
Table of Contents
1. Introduction2. Research Methodology3. Executive Summary5. Global Diagnostic Imaging Market
4. Market Dynamics
6. Market Share Analysis
7. Product
8. Application
9. End User
10. Countries
11. Porter’s Five Forces Analysis
12. SWOT Analysis
13. Key Players Analysis
Companies Mentioned
- FUJIFILM VisualSonics Inc.
- Canon Medical Systems Corporation
- Bruker Corporation
- PerkinElmer Inc.
- Hitachi
- Hologic
- Radnet
- Koninklijke Philips
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 210 |
| Published | July 2024 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value ( USD | $ 36.97 Billion |
| Forecasted Market Value ( USD | $ 61.51 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 8 |
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