Global Diagnostic Imaging Market size to grow at an estimated 6.2% CAGR from 2023-2030.

Global Diagnostic Imaging Market Analysis (2023 - 2030)

The Global Diagnostic Imaging Market size was valued at $29.4 Billion in 2022 and is estimated to reach a value of $47.8 Billion by 2030, growing at a CAGR of 6.2% in the forecast (2023-2030).

With the disruption of supply chains and the increasing number of people getting affected by the virus, the COVID-19 pandemic has had a significant impact on the Global Diagnostic Imaging Market. However, for COVID-19 patients, CT scanners are one of the most important diagnostic tools. The segment is being driven by increased demand for point-of-care CT devices and the development of a high-precision CT scanner through the integration of artificial intelligence and enhanced visualization systems. As expected, we anticipate a positive recovery post-COVID

Diagnostic imaging comprises a variety of techniques for seeing the human body to diagnose, monitor, or treat medical disorders. Each type of technology provides various information on the body part being investigated or treated, such as sickness, injury, or the efficacy of medical treatment. Besides, these imaging devices have allowed direct internal organ visualization bypassing the need for surgical operations. This further helps in early disease diagnosis and treatment of abnormalities which cut down the cost with precise results.

The prevalence of age-associated diseases such as Alzheimer’s, Parkinson, and Arthritis, along with CVDs and cancer is expected to rise which is set to rise the demand for improved healthcare facilities and advanced treatment options and medications and also the increasing demand for technologically improved equipment and advanced diagnostic imaging is further set to widen the size of the Global Diagnostic Imaging Market.

However, decreased imaging volumes and economic hardships are resulting in less adoption of advanced imaging technology. The market expansion is constrained by the high cost of medical diagnostic/imaging devices and the unfavorable reimbursement environment of advanced imaging equipment. Hospitals avoid routine checkups and follow-ups to reduce the risk of disease transmission and only deal with severe cases. As a result, orthopedic patients are used in imaging procedures less frequently. The rising risk of patients scanned using the same imaging equipment as the other infected patients has severely restricted the market's growth.

KEY MARKET INSIGHTS:

• Based on the Imaging Systems, The MRI market is the largest segment in the market and is expected to show the same performance in the forecast period (2020-2026) due to advanced technologies for early disease detection and high adoption by the hospital and diagnostic centers. Ultrasound devices are the 2nd largest contributor to the imaging industry.

• Based on the Application, Oncology is the study of the diagnosis and treatment of cancer and tumors. As stated by Globcan, lung cancer alone contributes more than 13% of the total diagnostic cases and hence is the largest application contributor for the diagnostic imaging market. Also, considering the increasing prevalence of cases of cancer around the globe, oncology will be the fastest-growing segment during the forecast period.

• Based on the End-User, The hospital segment is responsible for the highest market shareholder due to the increased number of imaging procedures, the growing shift of hospitals to fully automotive and digitalized technology, increase acceptance of non-invasive procedures, and improved workflow efficiency increased adoption of advanced imaging modalities are the key factors responsible for such massive market growth in hospital.

• Based on the Region, North America dominates the market with the highest expenditure on healthcare in 2019, however, the Asia Pacific market is expected to be the fastest-growing due to increased investment in the healthcare domain, improving healthcare infrastructure, enhanced awareness of the advanced imaging techniques, and raising insurance coverage are the boosters responsible for the growth. Asia Pacific is estimated to have the second-fastest CAGR throughout the projection period. Growing public awareness of the related benefits of these systems is likely to drive market expansion. Furthermore, rising healthcare spending and disposable income levels in nations like China and India are boosting regional market growth.

• Companies playing a leading role in the Global Diagnostic Imaging Market profiled in this report are Toshiba Medical Systems Corp., Bruker Corp., Xinapse Systems Ltd., Esaote, Inc., ClaroNAv, Inc., Merge Healthcare Inc., Aquilab GmbH, Spacelabs Healthcare, Inc., MIM Software Inc., Carestream Health, Inc.

MARKET SEGMENTATION:

By Imaging Systems:

• MRI

• Less than 1 Ton

• 1.5 – 3 Ton

• More than 3 Ton

• Ultrasound

• 2D Ultrasound

• 3D Ultrasound

• Others

• CT Scanners

• Low-End Scanners

• Mid-Range Scanners

• High-End Scanners

• Nuclear Imaging Systems

• Positron Emission Tomography (PET)

• Single Photon Emitted Computed Tomography (SPECT)

• X-Rays

• Analog Systems

• Digital Systems

• Mammography Systems

By Application

• General Radiology

• Vascular Imaging

• Dental Care

• Fluoroscopy

• Cardiology

• Oncology

• Neurology

• Other Applications

By End-User

• Hospitals/Clinics

• Home Care Settings

• Other End Users

By Region 

• North America 

• Europe 

• Asia-Pacific 

• South America 

• Middle East & Africa 

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