According to the new market research report "Diagnostic Imaging Market by Product (MRI (Open, Closed), Ultrasound (2D, 4D, Doppler), CT, X-Ray (Digital, Analog), SPECT, Hybrid PET, Mammography), Application (OB/Gyn, Cardiology, Oncology), Enduser (Hospitals, Imaging Centers) - Global Forecast to 2026", the global diagnostic imaging market is projected to reach USD 35.0 billion by 2026 from USD 26.6 billion in 2021, at a CAGR of 5.7% from 2021 to 2026.
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The growth of this market is primarily driven by the increasing demand for early disease diagnosis, widening the scope of clinical applications, and technological advancements in diagnostic imaging industry
Based on product, the diagnostic imaging market is segmented into magnetic resonance imaging (MRI) systems, ultrasound systems, CT scanners, X-ray imaging systems, nuclear imaging systems, and mammography systems. The mammography systems segment is expected to grow at the highest CAGR during the forecast period (2021–2026). The key factors driving the growth of the mammography systems market include the rising demand for minimally invasive diagnostic imaging procedures and early disease detection, particularly in the case of breast cancer.
Based on application, the diagnostic imaging market is segmented into the respective modalities viz., MRI systems, ultrasound systems, X-ray imaging systems, CT scanners, nuclear imaging systems, and mammography systems, and their respective applications. Among the applications, the largest share in 2020 was accounted by cardiology under CT scanners, and brain & neurological MRI under MRI systems; radiology/general imaging under ultrasound systems; General radiography applications under X-ray imaging systems; and oncology under nuclear imaging systems. General radiography applications under X-ray imaging systems application accounted for the largest market share among all application segments of the diagnostic imaging market in 2020.
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Geographical Growth Scenario:
North America is estimated to be the largest market for diagnostic imaging during the forecast period. Growth in the North American diagnostic imaging market is mainly due to the rising geriatric population and associated diseases, easy accessibility to diagnostic imaging modalities, and high adoption of technological advancements (owing to the significant per capita annual healthcare expenditure by the US government).
Key Players:
The major players in the 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), Samsung Electronics (South Korea), Mindray Medical International (China), Agfa-Gevaert N.V. (Belgium), Planmed Oy (Finland), CurveBeam LLC (US), and Shimadzu Corporation (Japan), among others.
These players are adopting various strategies to increase their share in the diagnostic imaging market. Collaborations & agreements, new product launches, and expansions have been a widely adopted strategies by the major players in diagnostic imaging industry.
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