Factors such as increasing incidence and prevalence of chronic diseases across the globe, technological advancements in the imaging systems, growing government investments for modernization of imaging facilities, and the rising number of diagnostic imaging centers are driving the growth of Diagnostic Imaging Market. However, the high cost of diagnostic imaging systems, technological limitations associated with standalone systems, unfavorable healthcare reforms in the U.S., and shortage of helium are the key factors limiting the growth of the market.
On the basis of products, the market is segmented into X-ray imaging systems, computed tomography (CT) scanners, ultrasound imaging systems, magnetic resonance imaging (MRI) systems, and nuclear imaging systems. Each modality is further divided into sub segments. The X-ray and ultrasound systems market is divided on the basis of technology and portability, whereas, CT systems are divided by the type of slice. MRI systems are divided based on architecture and field strength. The nuclear imaging systems market is categorized into SPECT and PET systems, which are further divided into standalone and hybrid modalities. Moreover, X-ray imaging systems is expected to grow at the highest CAGR owing to the growing demand for mobile X-ray systems, retrofit upgrade kits, growth in the number of hospitals and diagnostic centers, advances in digital technology, painless and non-invasive procedures, low prices as compared to other modalities, increase in aging population, and rising incidence of injuries and diseases.
The market is further sub segmented on the basis of application. The major applications of this market include obstetrics/gynecology (OB/GYN) health, orthopedics and musculoskeletal, neurology and spine, cardiovascular and thoracic, general imaging, breast health, and others.
Diagnostic Imaging Market by Region
This report covers the market across four major geographies, namely, North America, Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America commanded the largest share of the market, followed by Europe and Asia-Pacific. The Asia-Pacific market is poised to grow at the highest CAGR during the forecast period. This growth can be attributed to key factors such as improving healthcare infrastructure & healthcare spending, improving reimbursement and insurance coverage facilities, and a large number of ongoing research activities in the region.
As of 2015, prominent players involved in the diagnostic imaging market are GE Healthcare (U.S.), Siemens Healthcare GmBH (Germany), Koninklijke Philips N.V. (The Netherlands), Toshiba Medical Systems Corporation (Japan), Hitachi Ltd. (Japan), Carestream Health, Inc. (U.S.), Esaote S.p.A (Italy), Hologic, Inc. (U.S.), Fujifilm Corporation (Japan), Samsung Medison (South Korea), and Shimadzu Corporation (Japan).
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