Diagnostic Imaging Market by Product, End-User

List of Tables

[191 Pages Report] The Diagnostic Imaging Market size was estimated at USD 26.65 billion in 2023 and expected to reach USD 28.07 billion in 2024, at a CAGR 5.46% to reach USD 38.68 billion by 2030.

Diagnostic imaging is related to non-invasive techniques that allow medical professionals to visualize structures within the human body for diagnostic and treatment purposes. These technologies enable healthcare providers to evaluate diseases and injuries and monitor the progress of treatments by providing high-quality images of internal organs, tissues, and bones. The geriatric population has an increased prevalence of chronic disorders requiring advanced diagnostics and growing demand for early diagnosis through less invasive procedures, rising the utilization of diagnostic imaging solutions. Additionally, increasing investments from both public and private sectors in healthcare infrastructure development and supportive government policies foster innovation in medical equipment manufacturing. Alongside factors including high equipment costs, which may limit accessibility for smaller healthcare facilities operating on constrained budgets. Stringent regulatory frameworks governing device approvals that lengthen product development timelines and increase research & development expenditures. Furthermore, innovative product development based on emerging technologies like artificial intelligence (AI) and machine learning algorithms that optimize image interpretation creates opportunities for market growth.

KEY MARKET STATISTICS
Base Year [2023]	USD 26.65 billion
Estimated Year [2024]	USD 28.07 billion
Forecast Year [2030]	USD 38.68 billion
CAGR (%)	5.46%

Regional Insights

Growing awareness about early diagnosis and prevention of diseases has been observed globally. In the Americas, early diagnosis led to increased demand for diagnostic imaging services such as MRI, CT scans, ultrasound, and X-rays. The region has also seen a rising number of patents filed in recent years, showcasing the interest of key industry players in developing innovative technologies. European countries have a well-established healthcare infrastructure that supports the widespread use of diagnostic imaging techniques. The European Union has been active in promoting research related to these technologies through programs such as Horizon 2020. Countries, including the United Kingdom, France, and Germany, lead in terms of adoption rates for advanced diagnostic imaging systems throughout Europe. Furthermore, companies within this region continue to focus on R&D activities aimed at improving existing systems and introducing new products with higher accuracy levels. The Asia Pacific region holds tremendous potential for the diagnostic imaging market, with countries such as China, Japan, and India being the major contributors. These countries exhibit a high rate of technological advancements in healthcare and a large patient population, which drives demand for effective diagnostic services.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Diagnostic Imaging Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers
- Increasing prevalence of chronic diseases across the world
- Expanding adoption of point-of-care diagnostics
- Growing preference towards minimally invasive surgery among patients and healthcare professionals

Market Restraints
- High cost associated with diagnostic imaging

Market Opportunities
- Ongoing advancements in diagnostic imaging devices
- Integration of diagnostic imaging devices with telemedicine practices

Market Challenges
- Lack of skilled professionals

Market Segmentation Analysis
- Product: Increasing integration of AI technology in ultrasound systems
- End-User: Rising investments in expansion of diagnostic imaging centers

Market Disruption Analysis
Porter's Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Diagnostic Imaging Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Diagnostic Imaging Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Fujifilm Launches New MRI System, ECHELON Synergy with Deep Learning Reconstruction Technology

Fujifilm Healthcare Americas Corporation has recently received FDA 510(k) clearance for its new 1.5 Tesla MRI system, known as the ECHELON Synergy. This advanced system utilizes Deep Learning Reconstruction (DLR) technology powered by AI to acquire scans at a faster rate, resulting in improved throughput and image quality. [Published On: 2023-08-23]

Siemens Healthineers and CommonSpirit Health Acquire Block Imaging

Siemens Healthineers and CommonSpirit Health have reached an agreement to acquire Block Imaging in the context of Diagnostic Imaging. This acquisition aims to address the increasing demand from U.S. hospitals for multi-vendor imaging parts and services, while also providing more sustainable options. [Published On: 2023-05-26]

Modular Devices Acquires Interim Diagnostic Imaging

Modular Devices Acquisition LLC recently acquired Interim Diagnostic Imaging (IDI), a US-based mobile imaging company, without disclosing the terms of the deal. This merger results in the creation of one of the industry's largest fleets of mobile medical imaging services. [Published On: 2023-04-25]

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Diagnostic Imaging Market. This critical assessment involves a thorough analysis of the organization's resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Diagnostic Imaging Market, highlighting leading vendors and their innovative profiles. These include Agfa-Gevaert Group, Allengers Medical Systems Ltd., Analogic Corporation, Aspect Imaging Ltd., Avonix Imaging, LLC by Nikon Corporation, Canon Medical Systems Corporation, Carestream Health, Inc., Clarius Mobile Health Corp., CMR Naviscan Corporation, ESAOTE S.P.A., FUJIFILM Corporation, GE HealthCare Technologies Inc., Hitachi, Ltd., Hologic, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., Neusoft Corporation, Planmed Oy, Shimadzu Corporation, Siemens Healthineers AG, SternMed GmbH., Time Medical Holding, and TRIVITRON Healthcare.

Market Segmentation & Coverage

This research report categorizes the Diagnostic Imaging Market to forecast the revenues and analyze trends in each of the following sub-markets:

Product
- CT Scanners
- Magnetic Resonance Imaging
- Mammography Systems
- Nuclear Imaging Systems
- Ultrasound Systems
- X-ray Imaging Systems

End-User
- Diagnostic Imaging Centers
- Hospitals

Region
- Americas
  - Argentina
  - Brazil
  - Canada
  - Mexico
  - United States
    - California
    - Florida
    - Illinois
    - New York
    - Ohio
    - Pennsylvania
    - Texas
- Asia-Pacific
  - Australia
  - China
  - India
  - Indonesia
  - Japan
  - Malaysia
  - Philippines
  - Singapore
  - South Korea
  - Taiwan
  - Thailand
  - Vietnam

Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom

Product Code: MRR-CF6C60CF95AA

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing prevalence of chronic diseases across the world
  - 5.1.1.2. Expanding adoption of point-of-care diagnostics
  - 5.1.1.3. Growing preference towards minimally invasive surgery among patients and healthcare professionals
- 5.1.2. Restraints
  - 5.1.2.1. High cost associated with diagnostic imaging
- 5.1.3. Opportunities
  - 5.1.3.1. Ongoing advancements in diagnostic imaging devices
  - 5.1.3.2. Integration of diagnostic imaging devices with telemedicine practices
- 5.1.4. Challenges
  - 5.1.4.1. Lack of skilled professionals
5.2. Market Segmentation Analysis
- 5.2.1. Product: Increasing integration of AI technology in ultrasound systems
- 5.2.2. End-User: Rising investments in expansion of diagnostic imaging centers
5.3. Market Disruption Analysis
5.4. Porter's Five Forces Analysis
- 5.4.1. Threat of New Entrants
- 5.4.2. Threat of Substitutes
- 5.4.3. Bargaining Power of Customers
- 5.4.4. Bargaining Power of Suppliers
- 5.4.5. Industry Rivalry
5.5. Value Chain & Critical Path Analysis
5.6. Pricing Analysis
5.7. Technology Analysis
5.8. Patent Analysis
5.9. Trade Analysis
5.10. Regulatory Framework Analysis

6. Diagnostic Imaging Market, by Product

6.1. Introduction
6.2. CT Scanners
6.3. Magnetic Resonance Imaging
6.4. Mammography Systems
6.5. Nuclear Imaging Systems
6.6. Ultrasound Systems
6.7. X-ray Imaging Systems

7. Diagnostic Imaging Market, by End-User

7.1. Introduction
7.2. Diagnostic Imaging Centers
7.3. Hospitals

8. Americas Diagnostic Imaging Market

8.1. Introduction
8.2. Argentina
8.3. Brazil
8.4. Canada
8.5. Mexico
8.6. United States

9. Asia-Pacific Diagnostic Imaging Market

9.1. Introduction
9.2. Australia
9.3. China
9.4. India
9.5. Indonesia
9.6. Japan
9.7. Malaysia
9.8. Philippines
9.9. Singapore
9.10. South Korea
9.11. Taiwan
9.12. Thailand
9.13. Vietnam

10. Europe, Middle East & Africa Diagnostic Imaging Market

10.1. Introduction
10.2. Denmark
10.3. Egypt
10.4. Finland
10.5. France
10.6. Germany
10.7. Israel
10.8. Italy
10.9. Netherlands
10.10. Nigeria
10.11. Norway
10.12. Poland
10.13. Qatar
10.14. Russia
10.15. Saudi Arabia
10.16. South Africa
10.17. Spain
10.18. Sweden
10.19. Switzerland
10.20. Turkey
10.21. United Arab Emirates
10.22. United Kingdom

11. Competitive Landscape

11.1. Market Share Analysis, 2023
11.2. FPNV Positioning Matrix, 2023
11.3. Competitive Scenario Analysis
- 11.3.1. Fujifilm Launches New MRI System, ECHELON Synergy with Deep Learning Reconstruction Technology
- 11.3.2. Siemens Healthineers and CommonSpirit Health Acquire Block Imaging
- 11.3.3. Modular Devices Acquires Interim Diagnostic Imaging
11.4. Strategy Analysis & Recommendation

12. Competitive Portfolio

12.1. Key Company Profiles
12.2. Key Product Portfolio