Zion Market Research has published a new report titled “Diagnostic Imaging Market by Products (X-ray Imaging Systems, CT Scanners, MRI Systems, Ultrasound Imaging Systems and Nuclear Imaging Systems): Global Industry Perspective, Comprehensive Analysis And Forecast, 2015 – 2021”. According to the report, the global diagnostic imaging market was valued at approximately USD 23.50 billion in 2015 and is expected to reach approximately USD 33.50 billion by 2021, growing at a CAGR of around 6.0% between 2016 and 2021.
Imaging is the technique of generating visual representations of an object or body. Diagnostic imaging uses imaging technology in clinical trials for viewing the interior parts of the body. The images obtained from diagnostic imaging are used for diagnosing, examine and revealing the human body. Medical imaging also establishes a database of normal anatomy and physiology to make it possible to identify abnormalities. Screening imaging clinical trials, diagnostic imaging clinical trials, and image-guided interventional clinical trials are the key types include in diagnostic imaging. Diagnostic imaging provides quick, detail, accurate diagnosis.
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Increasing geriatric population and growing occurrences of chronic diseases are some of the major factors driving the global diagnostic imaging market. Growth in the pharmaceutical industry is another major factor that is expected to help the growth of the diagnostic imaging in the coming years. Government support and investments coupled with research and development activities especially in countries such as the U.S. and U.K. is anticipated to boost the market growth in the near future. However, the high cost of machinery and its installation is a major restraining factor for the market growth. In addition, the risk of high radiation exposure will limit the use of CT scanners coupled with a shortage of helium – a major concern for MRI manufacturers and healthcare facilities can restrict the growth of global diagnostic imaging market. Nonetheless, ongoing research and development in the medical diagnostic sector are likely to bring growth avenues in the market.
On the basis of product type, the global diagnostic imaging market is segmented into X-ray imaging systems, CT scanners, MRI systems, ultrasound imaging systems and nuclear imaging systems. The X-ray imaging systems dominated the market with over 31% share of the total market in 2015 followed by CT scanner which accounted for approximately 17% of total diagnostic imaging market. MRI and ultrasound also accounted for significant share owing to the increasing disabled and aging populations who are commonly diagnosed with the different disease and other complications.
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North America dominated the diagnostic imaging market and accounted for approximately 45% share of the global market in 2015. North America was followed by Europe in terms of revenue. However, the Asia-Pacific market is expected to grow at the highest CAGR of approximately 7.0% from 2015 to 2021. The diagnostic imaging market in Asia-Pacific region is likely to exhibit significant growth owing to rising government support and rapid growth in population. In addition, increasing government initiatives for the modernization of healthcare infrastructure are stimulating the growth of the diagnostic imaging market in this region. Latin America and the Middle East & Africa are also expected to experience significant growth in diagnostic imaging market in the coming years.
The report covers detailed competitive outlook including the market share and company profiles of the key participants operating in the global diagnostic imaging market include GE Healthcare, Siemens Healthcare GmBH, Koninklijke Philips N.V., Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Carestream Health, Inc., Esaote S.p.A, Hologic, Inc., Fujifilm Corporation, Samsung Medison, and Shimadzu Corporation.
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