Diagnostic Imaging Market Size to Exceed USD 25.7 billion by 2031, with a Robust CAGR of 4.7%| Transparency Market Research, Inc.

Wilmington, Delaware, United States, Dec. 04, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global diagnostic imaging market was estimated to have acquired US$ 17.1 billion in 2022. It is anticipated to register a 4.7% CAGR from 2023 to 2031 and by 2031, the market is likely to gain US$ 25.7 billion.  

Diagnostic imaging plays a crucial role in personalized medicine by tailoring treatments based on individual patient characteristics, contributing to market growth.

Favorable regulatory frameworks and reimbursement policies for diagnostic imaging procedures encourage healthcare providers to invest in advanced imaging technologies.

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Advancements in low dose imaging technologies to minimize radiation exposure, especially in routine diagnostic procedures like CT scans are anticipated to stimulate the demand for diagnostic imaging.

Global Diagnostic Imaging Market: Key Players  

The following companies are well known participants in the global diagnostic imaging market: 

• GE Healthcare
• Koninklijke Philips N.V.
• Hologic, Inc.
• Siemens Healthcare GmbH
• Fujifilm Corporation
• Toshiba Medical Systems Corporation
• Shimadzu Corporation
• Carestream Health, Inc.
• Hitachi Ltd.
• Samsung Medison

Key Findings of Market Report  

• On the basis of product, the MRI segment is anticipated to lead the Diagnostic Imaging market, owing to high resolution images, especially for soft tissues, making it valuable for various medical conditions.
• In terms of application, the radiology segment is expected to dominate the market growth, attributed to general medical imaging, as well as cancer imaging.
• By end user, the hospitals segment is expected to accelerate the demand for diagnostic imaging, owing to comprehensive patient care, emergency services, and advanced imaging equipment.
• Factors including exploration of nanotechnology applications in diagnostic imaging, such as the use of nanoparticles for targeted imaging and drug delivery, are expected to boost the market growth.

Trends for Diagnostic Imaging Market 

• Increasing prevalence of chronic diseases, such as cardiovascular diseases and cancer, necessitates more sophisticated diagnostic imaging techniques for early detection and monitoring.
• Increased healthcare spending globally supports the adoption of advanced diagnostic imaging technologies and services.
• The trend towards point of care imaging, which allows for immediate diagnostics and faster decision making, is gaining traction.
• The rise of telemedicine and remote diagnostics has created opportunities for diagnostic imaging to be conducted and interpreted remotely, improving access to healthcare services.

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Global Market for Diagnostic Imaging: Regional Outlook 

Various reasons are propelling the growth of the diagnostic imaging market in different regions. The regions include,

North America

• North America tends to be an early adopter of advanced medical technologies. Continued advancements in diagnostic imaging technologies, such as MRI, CT scans, and PET scans, drive market growth.
• The high prevalence of chronic diseases, including cardiovascular diseases and cancer, increases the demand for diagnostic imaging for early detection, monitoring, and treatment planning.
• Robust research and development activities in the healthcare sector, leading to the introduction of innovative imaging technologies and modalities.

Asia Pacific

• Growing emphasis on preventive healthcare and early disease detection, is expected to accelerate the demand for diagnostic imaging in screening and wellness programs.
• The rise of telemedicine and remote healthcare services in Asia Pacific creates opportunities for diagnostic imaging to be conducted and interpreted remotely.

Global Diagnostic Imaging Market Segmentation

Product

• • X-Ray
  • MRI
  • Ultrasound
  • CT
  • Nuclear Imaging

Application

• • Cardiology
  • Gynecology/Obs
  • Orthopedics & Musculoskeletal
  • Radiology
  • Neurology & Spine
  • General Imaging
  • Others

End User

• • Hospitals
  • Diagnostic Centers
  • Others

Region

• • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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