Press release
The global diagnostic imaging market is expected to grow at a CAGR of 5.9% from 2020 to reach USD 36.0 billion by 2027.
The growth is primarily attributed to increasing demand for early diagnosis, growing geriatric population, technological advancements, increase in clinical applications, prevalence of related diseases and increasing investments & funding in diagnostic imaging market. However, cost factor in developing countries and hospital cuts on budget may pose a significant challenge.By Product: CT Scanners segment dominated diagnostics imaging market in 2020
Diagnostic imaging market is segmented into X-rays imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems and mammography systems on the basis of product. In this segmentation, CT scanners accounted for the largest share of diagnostics imaging market. The largest share of this segment is mainly due to growing demand for early and accurate diagnosis, high adoption of CT scanners by hospitals & other diagnostic centres and requirement of chest CT scans for the detection of COVID-19 during the pandemic.
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By Application: General radiography under X-ray accounted for largest market share
On the basis of application, general radiography under X-ray imaging system segment held largest share during the forecast period among all application segment. In 2020, largest share by application was accounted by cardiology under CT scanners, brain & neurological MRI under MRI systems, radiology/general imaging under ultrasound systems, general radiography under X-ray imaging systems and oncology under nuclear imaging systems. The growth of general radiography under X-ray is mainly attributed to increasing demand.
By End User: Diagnostics imaging market held largest market share in hospitals in end user segment
Based on end user segregation, hospitals accounted for largest market share in 2020. Factors such as increasing demand for advanced imaging facilities and integration of surgical suits with imaging technologies are responsible to drive the growth of this segment. Developing countries have also shown rise in number of new hospitals.
By Region: APAC is the fastest growing regional market
In 2020, North America accounted for the largest share of diagnostic imaging market. The largest share of this regional segment is mainly due to rising associated diseases & geriatric population, high adoption & easy accessibility to diagnostic imaging, and technological advancements. On the other hand, APAC regional segment is expected to grow at a highest rate. High growth of this market is primarily due to rising incidence of chronic illness and high demand for advanced imaging devices.
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Competitive Scenario
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)
Agfa-Gevaert N.V. (Belgium)
Samsung Electronics (South Korea)
Mindray Medical International (China)
Planmed Oy (Finland)
CurveBeam LLC (US)
Shimadzu Corporation (Japan)
Allengers Medical Systems (India)
Neusoft Medical Systems (China)
Konica Minolta Inc. (Japan)
NP JSC Amico (Russia)
Konica Minolta (Japan)
SternMed (Germany)
Allengers (India)
Neusoft Medical Systems (China)
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