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Diagnostic Imaging Equipment Market 2024-2033: Growth Trends and Size Analysis
Diagnostic Imaging Equipment Global Market Report 2024
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According to The Business Research Company's, The diagnostic imaging equipment market size has grown strongly in recent years. It will grow from $54.69 billion in 2023 to $59.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to aging population, increasing disease burden, healthcare reimbursement, regulatory approvals.
The diagnostic imaging equipment market size is expected to see strong growth in the next few years. It will grow to $80.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to artificial intelligence (AI) integration, remote imaging services, personalized medicine, emerging markets growth, minimally invasive procedures. Major trends in the forecast period include the adoption of 3D and 4D imaging techniques, point-of-care imaging, radiation dose reduction, hybrid imaging, environmental sustainability.
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Market Drivers and Trends:
The global increase in chronic diseases is expected to propel the growth of the diagnostic imaging equipment market. A chronic disease is a condition that lasts for a year or longer, necessitates continuous medical care, restricts daily activities, or both, and includes illnesses such as cancer, diabetes, and so on. Imaging techniques in radiology are used to identify a variety of diseases, including diabetes, cancer, and cardiovascular disease. Chronic illnesses that have not yet manifested any symptoms can be found using diagnostic imaging. For instance, according to the International Diabetes Federation (IDF), an umbrella association of 230 national diabetes associations in more than 160 countries, in 2021, 537 million adults aged between 20 and 79 are living with diabetes (1 in 10 are suffering from diabetes), and this number is expected to reach about 643 million by 2030 and 783 million by 2045. Therefore, a global increase in chronic diseases is expected to drive the diagnostic imaging equipment market going forward.
Major companies operating in the diagnostic imaging equipment market are innovating new technologies, such as Ultreon Software, to increase their profitability in the market. Ultreon Software represents a pioneering imaging solution that seamlessly integrates optical coherence tomography (OCT) with artificial intelligence (AI) technology. For instance, in August 2021, Abbott Laboratories, a US-based medical device company, launched an artificial intelligence-powered coronary imaging platform in Europe that uses optical coherence tomography (OCT) to provide physicians with a comprehensive view inside an artery or blood vessel using artificial intelligence. Ultreon 1.0 Software has the capacity to assess the degree of calcium-based obstructions and gauge vessel diameter, thereby enhancing the accuracy of physicians' decision-making when performing coronary stenting procedures.
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Major Key Players of the Market:
Siemens AG, Koninklijke Philips NV, Fujifilm Holdings Corporation, General Electric Company, Elekta AB, Carestream Health Inc., Hologic Inc., Medtronic plc, Mindray Medical International Limited, Canon Medical Systems Corporation, Esaote SpA, Shimadzu Medical Systems USA, Samsung Electronics Co. Ltd., Koning Corporation, Toshiba Medical Systems Corporation, Hitachi Medical Systems America Inc., Agfa-Gevaert NV, Analogic Corporation, Bracco Imaging SpA, Del Medical Inc., Esaote North America Inc., Imaging Dynamics Company Ltd., InfiMed Inc., Mediso Medical Imaging Systems Kft., NeuroLogica Corp., Planmed Oy, Shimadzu Corporation, SonoScape Medical Corp., SuperSonic Imagine SA, Terason, Toshiba America Medical Systems Inc., Ziehm Imaging GmbH, Zonare Medical Systems Inc.
Diagnostic Imaging Equipment Market 2024 Key Insights:
• The diagnostic imaging equipment market size is expected to see strong growth in the next few years. It will grow to $80.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%.
• Rising Global Incidence Of Chronic Diseases Fueling The Diagnostic Imaging Equipment Market
• Cutting-Edge Ultreon Software Revolutionizes Diagnostic Imaging Equipment Market
• Western Europe was the largest region in the global diagnostic imaging equipment market in 2023
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