Diagnostic Imaging Market Global Forecast Report By Product, Application, End User, Countries and Company Analysis 2024-2032

Global Diagnostic Imaging Market Analysis

The diagnostic imaging market is expected to reach a figure of US$61.51 billion by 2032 from US$36.97 Billion, with a CAGR is 5.82% from 2024 and 2032. Currently the health care markets are expanding globally and there are opportunities to be found in such a market. The market is mainly fuelled by the rising number of geriatric people and likelihood of getting lifestyle diseases through lack of physical activity, diseases of the aging and many other similar diseases.

Diagnostic Imaging Outlooks

Diagnostic imaging encompasses several processes through which images of the body's structures are made for diagnosis purposes. Diagnostic imaging includes several procedures for the generation of detailed pictures of internal structures of the human body for diagnostic purposes. These imaging techniques include X-ray, computed tomography popularly known as CAT scan, magnetic resonance imaging also known as MRI scan, ultrasound, and positron emission tomography commonly known as PET scan. Both methods use various techniques like X-ray and CT scan expose the body to ionizing radiation to capture images, MRI and some radio waves to create images, ultrasound uses sound waves, and PET scan uses some radioactive tracers to take pictures that can help health care practitioners to diagnose diseases, injuries, and other body abnormalities.

Diagnostic imaging is important in today's practice of medicine because it allows early identification, proper identification of diseases, as well as treatment planning in a multitude of medical disciplines. For instance, X-rays are powerful diagnosing in cases with fractures and dental diseases, while CT scans make it possible to observe bones, blood vessels and organs. MRI aid in diagnosing conditions that affect soft tissues such as the brain and spinal cord, and the musculoskeletal system while ultrasound is used in diagnosing the growth of the fetus and diseases affecting organs in the abdomen. PET scans are used in diagnosis of cancers and assessment of metabolic activities within the body. It can therefore be concluded that these imaging techniques help enhance the patient's welfare and also help the medical profession make better decisions.

Driving Forces for the Diagnostic Imaging Market

Continuous innovations in diagnostic imaging technologies

Ongoing advancements in the diagnostic imaging equipment including MRI, CT, ultrasound, etc., are factors that boost the market growth because of better image resolution, short scan time, better software for image analysis. From the improvements in diagnosis, accessibility and efficiency of services, the impact goes to the quality of service delivery and the results achieved in the diagnosis and treatment of patients. These advancements are helpful to healthcare providers since they aim to deliver better and more efficient treatment; thus, the diagnostic imaging market experiences growth globally.

Increasing incidence of chronic diseases

The rise in the incidence of chronic diseases like cardiovascular diseases, cancer, and neurological disorders boosts the requirement of diagnostic imaging systems. These modalities play significant roles in the diagnosis of diseases in their early stages, correct staging, as well as continuous surveillance of diseases in an individual hence promoting early medical intercession and better treatment results. Diagnostic imaging thus plays a critical role in establishing health care procedures of conditions that affect patients, thus can direct recognized approaches to successful treatment depending on the needs of the patient. As they offer rich information regarding the characteristics of the human body and disease states, these technologies assist the clinicians to make relevant decisions and enhance the general satisfaction offered by the health care facilities in |different branches of medicine. As chronic diseases remain major causes of morbidity and mortality globally, the value of imaging in enhancing diagnostic precision and optimising the outcomes of therapy cannot be overemphasised in the challenges of controlling the burden of this group of diseases to mankind.

With a growing elderly population globally

The elderly population of the world is rising, and there is thus need to employ imaging in early diagnosis of such health conditions as arthritis, dementia, and cardiovascular diseases. Older patients often need imaging for tracking the diseases' progression, evaluating the treatment outcomes, and signs of complications. MRI, CT, and ultrasound all offer clear outlines of the human body and disease processes in elders. Technological applications assist the care givers in planning the right line of action that would help to improve the health status and quality of life among the patients. Thus, the role of diagnostic imaging advances in addressing the population's current and future healthcare challenges, particularly as the population continues to age, cannot be understated.

Demand for Minimally Invasive Procedures

Diagnostic imaging helps in avoiding many invasive procedures which may require invasive surgeries since it provides clear visual images of the structures within the body. This capability decreases durations of staying in the hospital, patients' turnarounds and total health costs. Thus, healthcare providers and healthcare facilities incorporate these technologies into their patient care processes to improve efficacy, reduce complications, and achieve better client results. This trend is a clear indication showing how diagnostic imaging plays a critical role of moving healthcare towards the progressive practice of minimally invasive and efficient practices in the different specialties.

Asia Diagnostic Imaging Market

Asia diagnostic imaging Market is growing due to factors such as increasing investment in the overall healthcare facilities, rising concern for health expenditure, and increasing focus on early diagnostics of chronic diseases in countries like China, India, Japan and South Korea. Recent developments such as MRI, CT scan and ultrasound assist doctors in early diagnosis of diseases and hence and enhance patients' experience. Strategic government programs aimed at IT adoption in healthcare centres and increased use of state-of-the-art technologies advance the market's development. Moreover, increased life expectancy of the population depicted in the region empowers demand for enhanced diagnostic imaging services for elderly patients. Some of the hurdles faced by Asia diagnostic imaging market include high cost prices of equipment, uneven legal structures that either favours or hinders diagnostic imaging equipment business, and thus, it has continued to expand due to need for accurate and efficient diagnosis caused by change in Asia health care systems.

Diagnostic Imaging Company Analysis

The top diagnostic imaging companies are FUJIFILM VisualSonics Inc., Canon Medical Systems Corporation, Bruker Corporation, PerkinElmer Inc., Hitachi, Hologic, Radnet, and Koninklijke Philips.

Diagnostic Imaging Company News

In March 2024, using NVIDIA technology, GE Healthcare created SonoSAMTrack1, its most recent research model. SonoSAM1, a promotable fundamental model intended for object segmentation in ultrasound imaging, is the basis for this novel model.

In January 2024, Canon revealed Aplio Me, a cutting-edge shared-service ultrasound system built to satisfy frequent users' needs in various medical contexts.

Koninklijke Philips N.V. introduced the high-end Philips CT 3500 system in May 2023, designed to meet the needs of high-volume screening programs and regular radiography.

In February 2023, GE Healthcare announced the acquisition of Caption Health, Inc., a privately held AI healthcare provider. Caption Health employs artificial intelligence (AI) to assist with ultrasound scans and creates clinical apps to identify early disease.

In May 2022, Samsung announced the GM85 Fit. This new mobile radiography equipment has been certified by the FDA, aiming to broaden its customer base and increase the amount of time its products are sold in the American market.

Product- Market breakup in 5 viewpoints:

1. X-Ray

2. CT

3. Ultrasound

4. Nuclear Imaging

5. Others

Application- Market breakup in 4 viewpoints:

1. Orthopedics

2. Cardiovascular

3. Neurology

4. Pelvic & Abdomen

5. Oncology

End User- Market breakup in 4 viewpoints:

1. Hospital

2. Diagnostic Center

3. Others

Country - Market breakup of 25 Countries:

North America

• United States
• Canada

Europe

• France
• Germany
• Italy
• Spain
• United Kingdom
• Belgium
• Netherland
• Turkey

Asia Pacific

• China
• Japan
• India
• South Korea
• Thailand
• Malaysia
• Indonesia
• Australia
• New Zealand

Latin America

• Brazil
• Mexico
• Argentina

Middle East & Africa

• Saudi Arabia
• UAE
• South Africa

All the key players have been covered from 4 Viewpoints:

• Business Overview
• Product Portfolio
• Recent Development & Strategies
• Financial Insight

Key Players Analysis:

1. FUJIFILM VisualSonics Inc.

2. Canon Medical Systems Corporation

3. Bruker Corporation

4. PerkinElmer Inc.

5. Hitachi

6. Hologic

7. Radnet

8. Koninklijke Philips