Cover Image
Market Research Report
Product code

Global Diagnostic Imaging Market, Size, Share, Opportunities and Forecast, 2020-2027

Published: | DataM Intelligence | 180 Pages | Delivery time: 2 business days


Back to Top
Global Diagnostic Imaging Market, Size, Share, Opportunities and Forecast, 2020-2027
Published: April 3, 2021
DataM Intelligence
Content info: 180 Pages
Delivery time: 2 business days
  • ALL
  • Description
  • Table of Contents

Global Diagnostic Imaging Market is segmented By Type (X-Ray, (By Portability (Mobile, Stationary), By Technology (Analog Imaging, Digital Imaging)), MRI (By Structure (Closed MRI, Open MRI), By Resolution (Low- Field MRI Scanners, High-Field MRI Scanners, Mid-Field MRI Scanners), Nuclear Medicine (Scintigraphy, PET Imaging, SPECT Imaging), Ultrasound (2D Ultrasound, 3D/4D Ultrasound, Doppler Imaging), Tomography (High End Slice CT Scanners, Mid End Slice CT Scanners, Low End Slice CT Scanners), Tactile Imaging, Functional near Infrared Spectroscopy), By Application (Orthopedic, Neurology, Oncology, Cardiology), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Share, Size, Outlook, and Opportunity Analysis, 2020-2027

Market Overview

The Global Diagnostic Imaging Market is expected to grow at a CAGR of 7.7% during the forecasting period (2020-2027).

Diagnostic imaging is a medical technique of non-invasive imaging tests for diagnosing and monitoring diseases or injuries by getting visual images of internal structures and organs of the patient's body. Diagnostic imaging technologies are used extensively by doctors to examine and diagnose exact medical conditions of patients. Diagnostic imaging is helpful in identifying cardiac abnormalities, broken bones, aneurysms, gastrointestinal issues, and various types of cancer. Diagnostic imaging is also used to monitor how the patient's body responds to the treatment being given. Diagnostic imaging diagnoses a disease in its early stage, and greatly improve patient's survival outcomes. It is a painless technique and offers rapid diagnosis. The medical imaging industry has been revolutionized from bed-side monitoring to high-end digital scanning.

According to World Health Organization (WHO), about 31% of the population were affected with cardiovascular diseases in 2015. Moreover, in 2016, there was 15.21 million death due to stroke and Ischemic heart disease which contributes to around 50% of death in the world. Moreover, there is a rapid increase in cases of aneurysm, according to Brain Aneurysm Foundation, around 40 million people in the world are suffering from cerebral aneurysm, this accounts for one in every 50 people.

Market Outlook

The major drivers fueling the growth of market are growing geriatric population, increasing prevalence of chronic diseases, technological advancement and increase in funds and grants by government bodies.

There is a wide range of applications of diagnostic imagining in operation planning, computer-based surgery, clinical applications, and medical diagnosis. Government expenditure over healthcare facilities is also increasing that aid the growth of market. According to The National Health Expenditure Accounts (NHEA), US spent around 20% of its GDP on healthcare in 2017 and US is the largest revenue generating region for the diagnostic imaging centers.

Moreover, many private and public organizations offer various grants and funding, for instance, National Health and Medical Research Council Australia announced $12 million project funding on December 2017, for use of molecular imaging to further understand the immune system and ultimately improve human health.

Shortage of trained radiologists and high cost of diagnostic imaging system are going to restrain the market in the forecast period. According to a study conducted by the Royal College of Radiologists, in the UK, approximately 97% of radiology departments in the United Kingdom were unable to meet diagnostic reporting requirements in 2016. The radiologist workforce grew by 5% between year 2012 to 2015, but the demand for number of MRI and CT scan devices rose by 26% and 29% respectively.

Market Segmentation

The global diagnostic imaging market can be segmented by type as X-Ray, MRI, Nuclear Medicine, Ultrasound, Tomography, Tactile Imaging and Functional near Infrared Spectroscopy. X-Ray is further segmented on the basis of portability as Mobile and Stationary and by technology as Analog Imaging and Digital Imaging. MRI is further segmented on the basis of structure as Closed MRI and Open MRI and by resolution as Low-Field MRI Scanners, High-Field MRI Scanners and Mid-Field MRI Scanners. Nuclear medicine is further segmented as Scintigraphy, PET Imaging and SPECT Imaging. Ultrasound is further segmented as 2D Ultrasound, 3D/4D Ultrasound and Doppler Imaging. Tomography is further segmented as High-End Slice CT scanners, Mid End Slice CT Scanners and Low-End Slice CT Scanners. The market is segmented on the basis of application as Orthopedic, Neurology, Oncology, Cardiology and Others.

An X-ray is a noninvasive medical test that helps physicians diagnose and treat medical conditions. X-ray segment holds the most significant share of diagnostic imaging market and is expected to grow at a CAGR of 7.7.% owing to the versatility of the system and convenience in use. Technological advancement like digital flat panel detector system and increasing incidents of cancer & orthopedic disease are the prime factors boosting the growth of this segment. Digital flat panel detector system has increased usage of X-ray in veterinary practice. In February 2016, Avante Health Solutions launched DRE Stationary DR X-ray System, which provides a complete interface for capturing robust images safely in any facility.

On the basis of application cardiology acquires around 20% of the market share. Cardiovascular diseases are a major cause of global deaths with predictions of coronary artery disease causing 11.1 million deaths globally in 2020 according to United Nations data. Thus, there is high demand for easy availability of cardiac imaging equipment in clinical hospitals for proper diagnosis. Philips Healthcare has recently announced to acquire Israel-based cardiac imaging firm EPD Solutions, which helps develop navigation systems that generate a 3D image of cardiac anatomy.

Geographical Analysis

Geographically, the global diagnostic imaging market is divided into North America, Europe, South America, Asia-Pacific and Middle East and Africa.

North America market accounts for more than 25% of the total share due to increase in geriatric population and adoption of advanced diagnostic imaging techniques for disease diagnosis. Moreover, most people opt for insurance coverage and take advantage of wellness programs and preventive cares such as workplace wellness initiative offered by employers, hence the spending capacity is enhanced. Coronary heart disease is one of the most common type of heart disease. According to the US Center for Disease Control and Prevention (CDC), around 610,000 people die of heart diseases annually in the United States. With rising prevalence of heart disease, the demand for diagnostic imaging centers with new and advanced devices is rising.

In Europe, Germany is expected to dominate the market and expected to grow at a CAGR of 6.3%, according to United Nations Commodity Trade Statistics Database, the import value of MRI equipment in Germany amounted to roughly 390 million dollars in 2017. Outbreak of liberal radiology and public-private initiatives in the medical imaging services market, is booming the market in France. According to Cour des Comptes, in 2014, by family of acts, the average cost of a scintigraphy was more than three hundred US $ in France.

Competitive Trends

Some of the major key players in the market are GE Healthcare, Siemens Healthcare, Carestream Health Inc., Hitachi Medical Corporation, Canon Toshiba Medical Systems Corporation, Hologic Corporation, Philips Healthcare, Fujifilm Holdings Corporation and Shimadzu Corporation.

The Diagnostic Imaging market is a concentrated market with dominance of five major companies. Siemens accounted for around 25% of the entire market in 2018. The market is competitive with the presence of big well-established firms and several new and small firms that have similar product offerings. Intense competition among the companies has resulted in an increase in price wars among the companies.

In June 2018, Canon Medical Corporation Ultra-High-Resolution research-enabled 3T MRI System, representing the latest addition to its Magnetic Resonance Imaging portfolio, at the ISMRM-ESMRMB 2018 Joint Annual Meeting in Paris, France.

In April 2018, Canon released Aplio i600 Ultrasound with enhanced ergonomics.

In March 2018, Koninklijke Philips N.V. and Hologic, Inc. announced a global partnership agreement to provide integrated imaging solutions for women's health

In January 2018, GE Healthcare introduced an easy-to-use ultrasound system 'Versana Essential' with efficient quality and affordability.

Why purchase the report?

Visualize the composition of the diagnostic imaging market across each indication, in terms of type and by type highlighting the key commercial assets and players.

Identify commercial opportunities in diagnostic imaging by analyzing trends and co-development deals.

Excel data sheets with thousands of data points of global diagnostic imaging market - level 4/5 segmentation.

PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.

Product mapping in excel for the key products of all major market players.

Target Audience:

Medical device companies

Hospitals and clinics

Research and consulting firms

Healthcare associations/institutes

Venture capitalists

Government agencies

Related Reports

Diagnostic Catheter Market

Diagnostic Electrophysiology Catheters Market

Table of Contents

Table of Contents

Table of Contents

1.Diagnostic Imaging Market - Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2.Diagnostic Imaging Market - Market Definition and Overview

3.Diagnostic Imaging Market - Executive Summary

  • 3.1. Market Snippet by Type
  • 3.2. Market Snippet by Application
  • 3.3. Market Snippet by Region
  • 3.4. DataM CLO Scenario

4.Diagnostic Imaging Market - Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers
      • The predominance of chronic diseases
      • Increasing investments, funds, and grants by government bodies.
    • 4.1.2. Restraints
      • Shortage of trained radiologists
      • High cost of Diagnostic Imaging System
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5.Diagnostic Imaging Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Regulatory Analysis
  • 5.4. Epidemiology

6.Diagnostic Imaging Market - By Type

  • 6.1. Introduction
    • 6.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type Segment
    • 6.1.2. Market Attractiveness Index, By Type Segment
  • 6.2. X-Ray
    • 6.2.1. Introduction
    • 6.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Portability
      • Mobile
      • Stationary
    • 6.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
      • Analog Imaging
      • Digital Imaging
  • 6.3. MRI
    • 6.3.1. By Structure
      • Closed MRI
      • Open MRI
    • 6.3.2. By Resolution
      • Low- Field MRI Scanners
      • High-Field MRI Scanners
      • Mid-Field MRI Scanners
  • 6.4. Nuclear Medicine
    • 6.4.1. Scintigraphy
    • 6.4.2. PET Imaging
    • 6.4.3. SPECT Imaging
  • 6.5. Ultrasound
    • 6.5.1. 2D Ultrasound
    • 6.5.2. 3D/4D Ultrasound
    • 6.5.3. Doppler Imaging
  • 6.6. Tomography
    • 6.6.1. High End Slice CT Scanners
    • 6.6.2. Mid End Slice CT Scanners
    • 6.6.3. Low End Slice CT Scanners
  • 6.7. Tactile Imaging
  • 6.8. Functional near Infrared Spectroscopy       

7.Diagnostic Imaging Market - By Application

  • 7.1. Introduction
    • 7.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 7.1.2. Market Attractiveness Index, By Application
  • 7.2. Orthopedic
    • 7.2.1. Introduction
    • 7.2.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026
  • 7.3. Neurology
  • 7.4. Oncology
  • 7.5. Cardiology
  • 7.6. Others

8.Diagnostic Imaging Market - By Region

  • 8.1. Introduction
    • 8.1.1. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
    • 8.1.2. Market Attractiveness Index, By Region
  • 8.2. North America
    • 8.2.1. Introduction
    • 8.2.2. Key Region-Specific Dynamics
    • 8.2.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.2.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.2.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • U.S.
      • Canada
      • Mexico
  • 8.3. Europe
    • 8.3.1. Introduction
    • 8.3.2. Key Region-Specific Dynamics
    • 8.3.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.3.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.3.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • Germany
      • U.K.
      • France
      • Italy
      • Spain
      • Rest of Europe
  • 8.4. South America
    • 8.4.1. Introduction
    • 8.4.2. Key Region-Specific Dynamics
    • 8.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • Brazil
      • Argentina
      • Rest of South America
  • 8.5. Asia Pacific
    • 8.5.1. Introduction
    • 8.5.2. Key Region-Specific Dynamics
    • 8.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 8.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • China
      • India
      • Japan
      • Australia
      • Rest of Asia Pacific
  • 8.6. Middle East and Africa
    • 8.6.1. Introduction
    • 8.6.2. Key Region-Specific Dynamics
    • 8.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Type
    • 8.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

9.Market - Competitive Landscape

  • 9.1. Competitive Scenario
  • 9.2. Competitor Diagnostic Imaging Strategy Analysis
  • 9.3. Comparative Product Portfolio Analysis
  • 9.4. Market Positioning/Share Analysis
  • 9.5. Mergers and Acquisitions Analysis

10. Company Profiles

  • 10.1. GE Healthcare *
    • 10.1.1. Company Overview
    • 10.1.2. Product Portfolio and Description
    • 10.1.3. Key Highlights
    • 10.1.4. Financial Overview
  • 10.2. Siemens Healthcare
  • 10.3. Carestream Health Inc.
  • 10.4. Hitachi Medical Corporation
  • 10.5. Canon Toshiba Medical Systems Corporation
  • 10.6. Hologic Corporation
  • 10.7. Philips Healthcare
  • 10.8. Fujifilm Holdings Corporation
  • 10.9. Shimadzu Corporation

11.Diagnostic Imaging Market - Premium Insights

12.Diagnostic Imaging Market - DataM

  • 12.1. Appendix
  • 12.2. About Us and Services
  • 12.3. Contact Us