PUBLISHER: The Business Research Company | PRODUCT CODE: 1387564
PUBLISHER: The Business Research Company | PRODUCT CODE: 1387564
“Diagnostic Imaging Equipment Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on diagnostic imaging equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for diagnostic imaging equipment? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The diagnostic imaging equipment market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Diagnostic imaging equipment plays a crucial role in enabling medical professionals to gain insight into the interior of the human body for the purpose of identifying potential health issues.
The primary categories of diagnostic imaging equipment encompass x-ray systems, ultrasound systems, computed tomography (CT) scanners, magnetic resonance imaging (MRI) systems, cardiovascular monitoring devices, and nuclear imaging equipment. Nuclear imaging devices employ specialized gamma cameras and single-photon emission-computed tomography (SPECT) imaging techniques. These gamma cameras capture the energy emissions produced by radiotracers within the body and transform them into visual representations. Funding for such equipment is derived from both public and private sources, while the products employed consist of instruments and equipment, as well as disposables. These imaging systems find application in various healthcare settings, including hospitals, clinics, diagnostic laboratories, and other medical facilities.
The diagnostic imaging equipment market research report is one of a series of new reports from The Business Research Company that provides diagnostic imaging equipment market statistics, including diagnostic imaging equipment industry global market size, regional shares, competitors with a diagnostic imaging equipment market share, detailed diagnostic imaging equipment market segments, market trends and opportunities, and any further data you may need to thrive in the diagnostic imaging equipment industry. This diagnostic imaging equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The diagnostic imaging equipment market size has grown strongly in recent years. It will grow from $54.69 billion in 2023 to $59.46 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth observed in the historical period can be attributed to factors such as an aging population, a rising disease burden, developments in healthcare reimbursement, and regulatory approvals.
The diagnostic imaging equipment market size is expected to see strong growth in the next few years. It will grow to $80.2 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The anticipated growth in the forecast period can be attributed to factors including the integration of artificial intelligence (AI), the expansion of remote imaging services, the advancement of personalized medicine, the growth of emerging markets, and the increased utilization of minimally invasive procedures. Notable trends during the forecast period comprise the adoption of 3D and 4D imaging techniques, the implementation of point-of-care imaging, efforts to reduce radiation doses, the use of hybrid imaging, and a focus on environmental sustainability.
The diagnostic imaging equipment market is anticipated to experience growth due to the global rise in chronic diseases. Chronic diseases, which last for a year or longer and require ongoing medical care, affect the daily lives of individuals and encompass conditions like cancer and diabetes. Diagnostic imaging, a field within radiology, is instrumental in identifying various diseases, including diabetes, cancer, and cardiovascular disorders. These imaging techniques can also detect chronic illnesses before any symptoms manifest. For instance, according to the International Diabetes Federation (IDF), a global network of 230 national diabetes associations in over 160 countries, in 2021, there were 537 million adults aged 20 to 79 living with diabetes, and this number is projected to increase to approximately 643 million by 2030 and 783 million by 2045. Consequently, the growing prevalence of chronic diseases worldwide is expected to be a driving factor for the diagnostic imaging equipment market.
The diagnostic imaging equipment market is anticipated to experience growth due to the rising prevalence of eye diseases. Eye diseases encompass a range of conditions and disorders that can adversely affect an individual's vision. Healthcare providers heavily rely on diagnostic imaging equipment to accurately diagnose and effectively manage various eye-related conditions. For instance, data from the International Agency for the Prevention of Blindness (IAPB), a global alliance headquartered in the UK that is dedicated to eliminating avoidable blindness and promoting eye health, indicates a projected 55% increase in vision loss by 2050. The number of people affected by vision loss is expected to grow from 1,106 million in 2020 to 1,758 million in 2050. As a result, the growing prevalence of eye diseases is expected to be a key driver of growth in the diagnostic imaging equipment market.
Key players in the diagnostic imaging equipment market are focusing on technological innovation to enhance their competitiveness and profitability. An example of such innovation is the development of Ultreon Software, which combines optical coherence tomography (OCT) with artificial intelligence (AI) technology. For instance, Abbott Laboratories, a US-based medical device company, introduced an AI-powered coronary imaging platform in Europe in August 2021. This platform utilizes optical coherence tomography (OCT) to offer physicians a comprehensive view of the interior of arteries or blood vessels with the assistance of artificial intelligence. Ultreon 1.0 Software is capable of evaluating the extent of calcium-based obstructions and determining vessel diameter, thereby improving the precision of decision-making for physicians during coronary stenting procedures.
The portable diagnostic equipment segment is expected to experience rapid growth, and industry competitors are placing a strong emphasis on developing novel and innovative portable equipment throughout the forecast period. These portable devices are gaining increasing adoption due to their ease of use and suitability for point-of-care applications, not only in hospital emergency and intensive care units but also within home care organizations. The demand for portable devices in emergency care units is also rising to facilitate easy and rapid use, expedite interventions during acute events, and improve monitoring capabilities. Prominent examples of such products include Samsung Electronics' 32-SLICE CT scanner, Brain Biosciences' CERPET portable PET scanner, Siemens Healthcare's Mobilett Mira Max portable X-ray systems, and Sonosite's MicroMaxx portable ultrasound system.
Major companies operating in the diagnostic imaging equipment market include Siemens AG, Koninklijke Philips NV, Fujifilm Holdings Corporation, General Electric Company, Elekta AB, Carestream Health Inc., Hologic Inc., Medtronic PLC, Mindray Medical International Limited, Canon Medical Systems Corporation, Esaote SpA, Shimadzu Medical Systems USA, Samsung Electronics Co. Ltd., Koning Corporation, Toshiba Medical Systems Corporation, Hitachi Medical Systems America Inc., Agfa-Gevaert NV, Analogic Corporation, Bracco Imaging SpA, Del Medical Inc., Esaote North America Inc., Imaging Dynamics Company Ltd., InfiMed Inc., Mediso Medical Imaging Systems Kft., NeuroLogica Corp., Planmed Oy, Shimadzu Corporation, SonoScape Medical Corp., SuperSonic Imagine SA, Terason, Toshiba America Medical Systems Inc., Ziehm Imaging GmbH, Zonare Medical Systems Inc.
Western Europe was the largest region in the global diagnostic imaging equipment market in 2023. North America was the second largest region in the global diagnostic imaging equipment market. Africa. was the smallest region in the global diagnostic imaging equipment market. The regions covered in the diagnostic imaging equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The countries covered in the diagnostic imaging equipment market report are: Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa
The diagnostic imaging equipment market consists of sales of breast imaging devices, brain, neuroimaging devices, 3D medical imaging devices, and other devices. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.