Diagnostic Imaging Market to grow up to USD 66.8 billion by 2031 at a CAGR of 5.9% during the forecast period

New York, The global diagnostic imaging market was valued at USD 37.8 billion in 2021 and it is anticipated to grow up to USD 66.8 billion by 2031 at a CAGR of 5.9% during the forecast period.

Global Diagnostic Imaging Market report from Global Insight Services is the single authoritative source of intelligence on Diagnostic Imaging Market. The report will provide you with analysis of impact of latest market disruptions such as Russia-Ukraine war and Covid-19 on the market. Report provides qualitative analysis of the market using various frameworks such as Porters' and PESTLE analysis. Report includes in-depth segmentation and market size data by categories, product types, applications, and geographies. Report also includes comprehensive analysis of key issues, trends and drivers, restraints and challenges, competitive landscape, as well as recent events such as M&A activities in the market.

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The diagnostic health imaging technology has transformed healthcare and now allows for earlier diagnosis of medical conditions, reduces the need for needleless invasive exploratory processes, and creates better patient outcomes. It describes the various technique of viewing the inside of the body to help figure out the causes of an illness or injury and confirm a diagnosis.

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Market Trends and Driver
The growing geriatric population and the increasing prevalence of associated diseases are boosting the growth of the market. The risk of developing diseases increases respectively with age. According to the Centers for Disease Control and Prevention (CDC), nearly 80% of the elderly in the US suffer from at least one chronic condition. Adding to these, the American Medical Association (AMA) estimates that at least 60% of individuals aged 65 and above will be living with more than one chronic condition by 2030.

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Global Diagnostic Imaging Market Segmental Overview
The report analyses the global diagnostic imaging market based on product, application, end user, and regions.

Global Diagnostic Imaging Market by Product

Based on product, it is segmented into X-ray imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems, and mammography systems. The CT scanners segment held the largest share of the global diagnostic imaging market. The key factors such as demand for early and accurate diagnosis, high adoption of CT scanners by hospitals and diagnostic centre across the globe. There has been a steady increase in the demand for CT scanners ever since the COVID-19 pandemic started. CT of the chest plays an essential role in the diagnosis of COVID-19; almost every patient needs a CT scan to monitor disease progression. Accordingly, the rising demand for disease treatment has favored the CT scanners market, even with the deferred procedures.

Global Diagnostic Imaging Market by Application

Based on application, it is segmented into MRI systems, ultrasound systems, X-ray imaging systems, CT scanners, nuclear imaging systems, and mammography systems. The CT scanner applications segment is likely to dominate the market during the forecast period. The key factors such as the growing geriatric population coupled with the rising prevalence of associated diseases are boosting the growth of the market.

Global Diagnostic Imaging Market by End User

Based on end user, it is segmented into hospitals, diagnostic imaging centers, and other end users. The hospital segment is likely to dominate the market during the forecast period. The key factors such as increasing demand for early diagnosis coupled with a widening scope of clinical application are boosting the growth of the market.

Geographical Analysis of Global Diagnostic Imaging Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America region is expected to dominate the market during the forecast period. The key factors such as rising geriatric population and associated diseases, easy accessibility to diagnostic imaging modalities, and high adoption of technological advancements are boosting the growth of the market.

Major Players in the Global Diagnostic Imaging Market
The key players studied in the global diagnostic imaging market are GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), FUJIFILM Holdings Corporation (Japan), Hitachi Ltd. (Japan), Carestream Health, Inc. (US), Esaote S.p.A (Italy), Hologic, Inc. (US), Agfa-Gevaert N.V. (Belgium), Samsung Electronics (South Korea), Mindray Medical International (China), Planmed Oy (Finland), CurveBeam LLC (US), Shimadzu Corporation (Japan), Allengers Medical Systems (India), Neusoft Medical Systems (China), Konica Minolta, Inc. (Japan), NP, JSC Amico (Russia), Konica Minolta (Japan), SternMed (Germany), Neusoft Medical Systems (China).

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