Global Diagnostic Imaging Market – Snapshot
Diagnostic imaging is a technique used to conduct a wide range of non-invasive imaging tests for diagnosing and monitoring diseases or injuries by the way of generating images that represent internal structures and organs in the patient’s body. Healthcare practitioners are extensively using diagnostic imaging technologies to examine patients and diagnose their exact medical conditions. Diagnostic imaging is utilized to identify a wide range of issues including, but not limited to, cardiac abnormalities, broken bones, aneurysms, gastrointestinal issues, and various types of cancer. Apart from identifying issues and diagnosing them, diagnostic Imaging is also employed to monitor how the patient’s body responds to the treatment being dispensed.
The global diagnostic imaging market was valued at around US$ 28.0 Bn
in 2017. It is estimated to reach a value of more than US$ 47 Bn by
2026, expanding at a CAGR of 6.0% during the forecast period. Rise in
prevalence of chronic diseases, such as cancer and cardiovascular
events, increase in the geriatric population, and advancements in
technologies to develop various diagnostic imaging devices to be used in
different surgical procedures are key factors that are estimated to
propel the market during the forecast period.
The ability of diagnostic imaging to diagnose a disease in its early stage and greatly improve patient outcomes has driven the diagnostic imaging market due to the fact that it is painless and offers rapid diagnosis. Consequently, it is a popular recourse among doctors as well as patients. Rapid innovations and favorable reimbursement policies are also propelling the global diagnostic imaging market. Diagnostic imaging provides an opportunity to exclude expensive therapeutic treatments, consequently causing substantial saving.
The global diagnostic imaging market has been segmented based on
product, application, end-user, and region. In terms of product, the
market has been classified into X-ray, MRI, ultrasound, CT, and nuclear
imaging. The X-ray segment is expected to lead the market during the
forecast period, due to the ability of X-ray to produce accurate images
that provide a clear idea of the musculoskeletal system. Moreover, it is
also a low-cost technique. The ultrasound imaging segment is projected
to follow the X-ray segment, in terms of market share, during the
forecast period. In terms of application, the global diagnostic imaging
market has been divided into cardiology, gynecology/obs, orthopedics
& musculoskeletal, radiology, neurology & spine, general
imaging, and others. Among these, the gynecology/obs segment dominates
the market due to the high demand for performing ultrasound imaging
technique in this application segment. Furthermore, the cost associated
with the ultrasound technique is higher as compared to X-ray technique.
In terms of end-user, the global diagnostic imaging market has been
classified into hospitals, diagnostic centers, and others. The
diagnostic centers segment is expected to lead the global market during
the forecast period, as diagnostic imaging is highly preferred in these
centers since these centers are facilitated with all the latest
technologies for quick and accurate diagnosis. In terms of region, the
global diagnostic imaging market can be segregated into North America,
Europe, Asia Pacific, Latin America, and Middle East & Africa. North
America is expected to lead the global market from 2018 to 2026, due to
rapid technological advancements and rising prevalence of cancer and
cardiac diseases in the region. Asia Pacific is expected to follow North
America, in terms of share of the global market, during the forecast
period.
Majority of the diagnostic imaging devices are being manufactured by key players covered in this report, and these include GE Healthcare, Koninklijke Philips N.V., Hologic, Inc., Siemens Healthcare GmBH, Fujifilm Corporation, Toshiba Medical Systems Corporation, Shimadzu Corporation, Carestream Health, Inc., Hitachi Ltd., and Samsung Medison.
Diagnostic imaging is a technique used to conduct a wide range of non-invasive imaging tests for diagnosing and monitoring diseases or injuries by the way of generating images that represent internal structures and organs in the patient’s body. Healthcare practitioners are extensively using diagnostic imaging technologies to examine patients and diagnose their exact medical conditions. Diagnostic imaging is utilized to identify a wide range of issues including, but not limited to, cardiac abnormalities, broken bones, aneurysms, gastrointestinal issues, and various types of cancer. Apart from identifying issues and diagnosing them, diagnostic Imaging is also employed to monitor how the patient’s body responds to the treatment being dispensed.
The ability of diagnostic imaging to diagnose a disease in its early stage and greatly improve patient outcomes has driven the diagnostic imaging market due to the fact that it is painless and offers rapid diagnosis. Consequently, it is a popular recourse among doctors as well as patients. Rapid innovations and favorable reimbursement policies are also propelling the global diagnostic imaging market. Diagnostic imaging provides an opportunity to exclude expensive therapeutic treatments, consequently causing substantial saving.
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Majority of the diagnostic imaging devices are being manufactured by key players covered in this report, and these include GE Healthcare, Koninklijke Philips N.V., Hologic, Inc., Siemens Healthcare GmBH, Fujifilm Corporation, Toshiba Medical Systems Corporation, Shimadzu Corporation, Carestream Health, Inc., Hitachi Ltd., and Samsung Medison.
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