Global Market for Diagnostic Imaging with COVID-19 Analysis is Anticipated to grow at a Significant Pace i.e., USD 36.8 Billion during the Forecast Period 2021-2027

The global diagnostic imaging market is expected to witness a 6.8% CAGR over the projected period 2021-2027.during the forecast period. Factors attributing to the growth of the diagnostic imaging market include the rising demand for early disease diagnosis and increased scope of clinical applications, increasing geriatric population and the consequent increase in the prominence of associated diseases, technological development in the diagnostic imaging industry, and increased investment, funds, and grants by public-private organizations. Nevertheless, the favorable regulatory scenario in the medical imaging modalities to provide excellent patient management, development of multi-modality imaging systems, and rising adoption of diagnostic imaging in digital health are promising prospects for growth in the diagnostic imaging market.

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In March 2021, Siemens Healthineers has got FDA clearance for Biograph Vision Quadra, a novel PET/CT scanner with a large 106-cm axial field of view that performs whole-body imaging.

The COVID-19 pandemic has positively and negatively impacted the diagnostic imaging market as the demand for MRI and molecular imaging equipment has reduced during the pandemic but the digital X-ray and CT scan’s demand has increased exceptionally owing to the clinical efficiency of X-rays in the diagnosis of COVID-19 patients via chest scans.

By product, CT scanners dominate the global diagnostic imaging market in 2020.

Based upon the product, the diagnostic imaging market is divided into computed tomography (CT) scanners, x-ray imaging systems, ultrasound imaging systems, nuclear imaging systems, and magnetic resonance imaging (MRI). The CT scanner dominates the diagnostic imaging market as it is one of the key diagnostic tools for COVID-19 patients. Moreover, the increased demand for point-of-care CT device and the advancement of high-precision CT scanner that integrates AI and advanced visualization systems will drive the growth of the CT scanner segment in the diagnostic imaging market.

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“Asia-Pacific is anticipated to be the fastest-growing region during 2021-2027.”

Asia-Pacific is anticipated to be the fastest-growing region in the diagnostic imaging market due to the increased prevalence of chronic diseases and the high demand for advanced imaging devices. The increased presence of Japan and South Korea- based market giants will play a significant role in the growth of the diagnostic imaging market. Furthermore, the rising number of local manufacturing units will help in providing moderately priced diagnostic units, thus helping in the growth of the price-sensitive and underpenetrated market space in Asia-Pacific.

Some of the major players in the global diagnostic imaging market include GE Healthcare, Hitachi Ltd., Siemens AG, Samsung Medison, Carestream Health, Koninklijke Philips N.V., Esaote S.P.A, Shimadzu Corporation, Toshiba Corporation, and Fujifilm Holdings Corporation.

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