Diagnostic Imaging Market By Type (X-Rays-(Portable, Handheld), Nuclear Medicine-( Scintigraphy, PET Imaging, SPECT Imaging), Ultrasound-(2D,3D,4D, Doppler Imaging), MRI, Tomography, Photoacoustic Imaging, Thermography, Tactile Imaging, Elastography, Functional Near Infrared Spectroscopy, Echocardiography), By Application (Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology, Gynaecology, Others) And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecasts (2016–2021)
The Global Diagnostic Imaging Market was worth $27.82 billion in 2016 and estimated to be growing at a CAGR of 6.60%, to reach $38.30 billion by 2021. Medical imaging is the method of making a visual image of the inside of the body for medical intervention.
These devices aid in creating a databank of normal anatomy and physiology of internal organs so that any irregularity can be observed immediately.
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The capability to generate pictures of a patient’s internal anatomy and alter them to film through diagnostic imaging has transformed the way many diseases and injuries are spotted, diagnosed, and treated.
This market has applications in several medical arenas like cardiology, neurology, and orthopaedics. Internationally, most of the industrialized nations are spending a huge part of their GDP on healthcare necessities.
The US is set to devote almost 20% of its GDP on healthcare by 2017, a higher proportion than any other developed country.
The growth of the Global Diagnostic Imaging Market is mainly driven by factors such as an increasing prevalence of cancer and cardiac, neurological, and musculoskeletal disorders, rise in cognizance for prompt diagnosis, rising number of diagnostic imaging techniques, and improving healthcare infrastructure in developing markets. However, factors such as costly procedures & equipment, side effects of diagnostic imaging procedures and saturation in the industrialized countries are hindering the growth of the market.
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The Global Diagnostic Imaging market is segmented based on Type and Application. The market for Diagnostic Imaging, on the basis of type is segmented into X-Rays, Nuclear Medicine, Ultrasound, MRI, Tomography, Photoacoustic Imaging, Thermography, Tactile Imaging, Elastography, Functional near infrared spectroscopy, Echocardiography.
Each modality is further separated into sub segments. The X-ray and ultrasound systems market is segmented on the basis of technology and portability respectively.
The nuclear imaging systems market is characterised into Scintigraphy, PET Imaging, and SPECT Imaging. On the basis of Application, the global Diagnostic Imaging market is segmented into Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology, Gynaecology, and Others.
Tomography is a widely used method as it increases the chances of cancer discovery and decreases the cases of the patient being called for further tests. 3D imaging is anticipated to grow in all markets during the forecast period.
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Global Diagnostic Imaging Market Geographical Analysis
- North America
- Latin America
- Middle East & Africa
North America accounted for the largest share in the global Diagnostic Imaging market with nearly 20% of the GDP spent on healthcare by the USA. However, The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period due to reasons such as rapidly aging populace and surge in the chronic disease population.
Global Diagnostic Imaging Market Leaders' Analysis
- GE Healthcare
- Siemens Healthcare
- Toshiba Medical Systems Corporation
- Hitachi Medical Corporation
- Hologic Inc.
- Fujifilm Corporation
- Shimadzu Corporation
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