The Worldwide Diagnostic Imaging Industry is Expected to Reach $49.29 Billion by 2028

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Jan 25, 2023, 07:20 ET

DUBLIN, Jan. 25, 2023 /PRNewswire/ -- The "Diagnostic Imaging Market, Global Forecast 2023-2028, Industry Trends, Growth, Impact of Inflation, Opportunity Company Analysis" report has been added to ResearchAndMarkets.com's offering.

The global diagnostic imaging market is anticipated to reach US$ 49.29 Billion by 2028 growing with a CAGR of 5.82% from 2022 to 2028.

Diagnostic imaging includes a number of methods for evaluating the body to make a diagnosis and identify the cause of an illness or injury. It is also used by doctors to determine how well a patient's body responds to fracture or illness therapy. In addition, diagnostic imaging procedures like ultrasound, X-ray, MRI, etc., can visualize inside body organs so patients can access better care.

Worldwide Diagnostic Imaging Market was US$ 35.11 Billion in 2022

The demand for point-of-care imaging systems and the surge in enhanced optical image demand for more accurate disease and disorder detection are the main reasons driving the expansion of the global diagnostic imaging market. Additionally, the rise in chronic disease prevalence and technological developments in medical imaging are anticipated to expand the market. Furthermore, the increased R&D in imaging technologies, growth in approved products, and growth of hospitals and diagnostic facilities, as well as government and private organization initiatives to enhance the medical sector, influence market trends for global diagnostic imaging.

X-Ray is largely used in the Diagnostic Imaging Market

By product, the X-ray segment dominated the global diagnostic imaging market. The surge in the usage of interventional x-ray equipment, such as C-arms and others, for image-guided surgeries, is the main factor driving this segment's rise. Furthermore, the ultrasound segment will grow during the forecast period because of the surge in ultrasonic applications. Additionally, new applications for ultrasound devices in biomedical and cardiovascular imaging have been made possible by recent advancements in advanced ultrasound transducers.

By Application: Orthopedic Segment holds a Lion's Market Share

The demand for the orthopedics market is increasing due to the rise in ageing population and an increase in accidents. Additionally, the availability of various diagnostic tools is promoting market expansion. Furthermore, the cardiovascular and oncology segment also holds a significant share due to the increased prevalence of cardiovascular and oncology diseases, rise in technological advancement, and better reimbursement policy.

Hospital Segment Acquires the Majority of the Market Share

Based on end-user, the global diagnostic market is divided into hospitals, diagnostic centers, and others. The primary driver of the hospital segment's growth is the widespread adoption of public and private hospitals worldwide. In addition, rising investments in constructing technologically advanced hospitals equipped with modern diagnostic imaging technology will further contribute to the segment's growth. Furthermore, Diagnostic Centers will upsurge during the forecast period due to the expansion of private imaging centers and the rising demand for diagnostic imaging procedures.

North America dominates the Diagnostic Imaging Market

North American region leads the global diagnostic imaging market. The main drivers of regional market expansion are the rise in the prevalence of chronic disease, the presence of numerous industry players, and the frequent introduction of new products in the region. Furthermore, due to favorable reimbursement scenarios and funding from market players, the North American region shows strong adoption of advanced and high-end medical imaging equipment. Additionally, the Asia Pacific region will grow during the forecast period due to expansion in hospitals, a surge in demand for early diagnosis, an increase in the prevalence of cancer and heart disease, and an increase in the geriatric population.

Key Players Analysis:

FUJIFILM VisualSonics Inc., Canon Medical Systems Corporation, Bruker, PerkinElmer Inc., Hitachi, Hologic, Radnet, and Koninklijke Philips are the leading market players in the Global Diagnostic Imaging Market. The numerous development strategies, such as introducing new products with various characteristics, promote market expansion and present profitable expansion prospects to the market participants.

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Dynamics
4.1 Growth Drivers
4.2 Challenges

5. Global Diagnostic Imaging Market

6. Market Share - Global Diagnostic Imaging Market
6.1 By Product
6.2 By Application
6.3 By End User
6.4 By Region

7. Product - Global Diagnostic Imaging Market
7.1 X-Ray
7.2 CT
7.3 Ultrasound
7.4 Nuclear Imaging
7.5 Others

8. Application - Global Diagnostic Imaging Market
8.1 Orthopedics
8.2 Cardiovascular
8.3 Neurology
8.4 Pelvic & Abdomen
8.5 Oncology

9. End User - Global Diagnostic Imaging Market
9.1 Hospitals
9.2 Diagnostic Centers
9.3 Others

10. Region - Global Diagnostic Imaging Market
10.1 North America
10.2 Europe
10.3 Asia Pacific
10.4 South America
10.5 Middle East & Africa

11. Company Analysis
11.1 FUJIFILM VisualSonics Inc.
11.1.1 Overview
11.1.2 Recent Development
11.1.3 Financial Insight
11.2 Canon Medical Systems Corporation
11.2.1 Overview
11.2.2 Recent Development
11.2.3 Financial Insight
11.3 Bruker Corporation
11.3.1 Overview
11.3.2 Recent Development
11.3.3 Financial Insight
11.4 PerkinElmer Inc.
11.4.1 Overview
11.4.2 Recent Development
11.4.3 Financial Insight
11.5 Hitachi
11.5.1 Overview
11.5.2 Recent Development
11.5.3 Financial Insight
11.6 Hologic
11.6.1 Overview
11.6.2 Recent Development
11.6.3 Financial Insight
11.7 Radnet
11.7.1 Overview
11.7.2 Recent Development
11.7.3 Financial Insight
11.8 Koninklijke Philips
11.8.1 Overview
11.8.2 Recent Development
11.8.3 Financial Insight