Global Diagnostic Imaging Devices Market to Reach US$35.8 bn by 2020, Boosted by Rising Occurrence of Chronic Diseases

Diagnostic imaging devices are used for efficiently imaging the human body by using numerous imaging technologies. Diagnostic imaging devices market are primarily used to diagnose, monitor, screen, and test numerous medical conditions for medical intervention. These devices improve the ability of doctors to diagnose, detect, and treat diseases or injuries at their initial stage, thus avoiding further severe complications. Information associated with the specific area of the body that is to be treated can be provided to doctors by using diagnostic imaging devices. Improvements in diagnostic imaging devices and imaging technology have propelled the global diagnostic imaging devices market over the past few years.

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The increasing number of applications of diagnostic imaging devices such as single position emission computed tomography (SPECT), computed tomography angiography, imaging tests, magnetic resonance spectroscopy, and magnetic resonance angiography are predicted to propel the global diagnostic imaging devices market in the years to come. Factors such as the growing aging population, increasing occurrence of injuries and chronic diseases, technological advancements, and the increasing number of applications of diagnostic imaging devices are predicted to propel the global diagnostic imaging devices market in the years to come. Increasing funding from the governments of various nations and increasing awareness among people regarding the benefits of using diagnostic imaging devices are also expected to contribute towards the growth of the global diagnostic imaging devices market in the next few years.

Ultrasound Segment to Register Maximum Demand in Global Diagnostic Imaging Devices Market

The global diagnostic imaging devices market was valued at US$26.5 bn in 2014 and is expected to reach US$35.8 bn by 2020, expanding at a 5.20% CAGR during the period between 2014 and 2020.

The global diagnostic imaging devices market is segmented on the basis of geography and type of diagnostic imaging device. By type, the global diagnostic imaging devices market is divided into nuclear imaging, magnetic resonance imaging, computed tomography, ultrasound, and X-ray. The global ultrasound diagnostic imaging devices market is predicted to progress from US$6.1 bn in 2014 to US$8.3 bn by 2020, progressing at a 5.30% CAGR from 2014 to 2020.

Increasing Demand for Imaging Devices in North America to Propel Global Diagnostic Imaging Devices Market

By geography, the global diagnostic imaging devices market is divided into North America, Asia, Europe, and Rest of the World. Currently, North America dominates the global diagnostic imaging devices market and is expected to maintain its dominance in the years to come. The increasing prevalence of injuries and the rising aging population are expected to propel the North America diagnostic imaging devices market in the next few years. Asia Pacific is predicted to be the fastest growing market in the global diagnostic imaging devices market during the forecast period.

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Siemens Healthcare, Carestream Health, Inc., Toshiba Corporation, General Electric Company, Hitachi, Ltd., Samsung Electronics Co., Ltd., and Koninklijke Philips N.V. are some of the leading players in the global diagnostic imaging devices market. Going ahead, the global diagnostic imaging devices market is expected to be highly competitive in nature due to the entry of new companies.

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