Diagnostic Imaging Market Global Industry Analysis by Growth, Trends, and Demand Forecast to 2022

The diagnostic imaging market is projected to reach $39.0 billion by 2022, growing at a CAGR of 4.9% between 2016-2022.
The growing geriatric population, increasing prevalence of chronic diseases, technological advancement and widening application of diagnostic imaging devices, increasing need for diagnostic imaging procedures, and increasing healthcare expenditure are driving the growth of the market.

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In terms of type, the diagnostic imaging market is segmented into x-ray imaging, ultrasound imaging, MRI, CT, nuclear imaging and others. The x-ray imaging devices accounted for the major share in the global market in 2015, and ultrasound imaging is the segment to witness the highest growth during 2016-2022.

In terms of end user, the diagnostic imaging market is segmented into hospital, diagnostic center and others. The hospital segment accounted for the major share in the global market in 2015, and the diagnostic center segment is expected to witness the highest growth during 2016-2022.

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Diagnostic centers are the key end-users of diagnostic imaging systems. An increase in the number of diagnostic centers leads to the increase in demand for diagnostic imaging systems. Different diagnostic imaging tools such as MRI, ultrasound, CT, nuclear imaging and X-ray are used for the diagnosis of several disorders or abnormalities in human body. Diagnostic centers utilize the best features of these techniques. Improving healthcare infrastructure, increasing healthcare expenditure, and increasing healthcare awareness across the globe are leading to the increase in the number of diagnostic centers and thereby have resulted in the demand of the diagnostic imaging market.

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The Asia-Pacific market for diagnostic imaging is set to reach $10.2 billion by 2022. The market is expected to witness the fastest growth in Asia-Pacific due to improving healthcare infrastructure, increasing prevalence of chronic diseases and growing geriatric population. Among the countries of the Asia-Pacific region, the Chinese market is expected to grow at a CAGR of 6.7% during the forecast period. In Japan is the largest market for diagnostic imaging in Asia-Pacific. The growth of diagnostic imaging market in the country is driven by increasing healthcare expenditure, increasing prevalence of chronic diseases and aging population. The geriatric population in Japan is increasing every year.

Some of the key companies operating in the diagnostic imaging market include Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Toshiba Corporation, Shimadzu Corporation, FUJIFILM Holdings Corporation, SAMSUNG, and Esaote SpA.

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