Diagnostic Imaging Market Size, Share, Company Covered, Segments, Analysis and Forecast Research Report by 2027

According to the latest market research by VynZ Research, the global diagnostic imaging market is proposed to outstretch from USD 25.6 billion in 2020 to USD 36.8 billion by 2027, registering a CAGR of 5.8% during 2021-2027.

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Diagnostic Imaging assists in the early diagnosis of neurological diseases, cardiological disorders, orthopaedical syndromes, and oncological complaints. It provides visual illustrations of internal and external parts of a body that are being utilized for clinical purposes. It facilitates overall healthcare as early diagnosis helps in the treatment of diseases. The frequent incidences of chronic diseases and rise in the number of diagnostic centers have become a reason for the growth of the global diagnostic imaging market.

Market Segments:

· By Product
· By Application
· By End User

Insight by Product:

Based on product, the global diagnostic imaging market is segregated into computed tomography (CT) scanners, x-ray imaging systems, ultrasound imaging systems, nuclear imaging systems, and magnetic resonance imaging (MRI). Among these, the X-Ray imaging system has the greatest share in the market as it is a painless and non-invasive procedure which less costly compared to other modalities.

However, there has been a growing demand for CT scanners during the pandemic as it corresponds to early and accurate diagnosis of the disease. CT scan is required to monitor the progression of Covid -19. Hence most of the patients had to go through it as a result of which there was a rise in demand of CT scan in 2020.

· Insight by Application:

Based on application the global diagnostic imaging market is subdivided into oncology, cardiology, orthopedics, gynecology, neurology, and others. Among these Orthopaedics, the segment has the largest demand in the market. However, the growing number of cancer cases in the world has resulted in an increase in the demand for oncology imaging for the early detection of cancer.

· Insight by End User:

Based on end-users the market is segmented into diagnostic imaging centers, hospitals, specialty clinics, and others. Rising demand for diagnostic centers and escalating number of diagnostic imaging procedures have become a reason for the expected growth of the diagnostic imaging market. However, the Hospital segment is also growing rapidly and is expected to rise in the forecast period.

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Growth Drivers:

Early diagnosis and cost-effective diagnostic procedures are factors that influence the demand of the global diagnostic market. However, the funds, grants, and investments by private and government bodies for the modernization of imaging facilities will also escalate the market. Technologically advanced devices and developing healthcare centers are the growth drivers in the forecast period.

Geographic Overview:

North America has observed a continuous increase in the number of chronic diseases. As per the announcement made by GLOBOCAN in the U.S. an estimated number of deaths in the US during the year 2012 was 0.6 million while new cancer cases were reported to be 1.6 million.

The Asia Pacific has also shown a prominent rise in chronic diseases. Hence there is an expansion in the diagnostic centers resulting in the Asia Pacific as a growing marketplace for Diagnostic Imaging Market.

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Key Players Covered in the Report:

• GE Healthcare
• Hitachi Ltd.
• Siemens AG
• Samsung Medison
• Carestream Health
• Koninklijke Philips N.V.
• Esaote S.P.A
• Shimadzu Corporation
• Toshiba Corporation
• Fujifilm Holdings Corporation

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This release was published on openPR.