Innovations in Medical Imaging: A Comprehensive Sector Analysis
Diagnostic Imaging Industry | Forecast 2030
Diagnostic Imaging Industry Data Book - Computed Tomography, Magnetic Resonance Imaging, Nuclear Imaging, Ultrasound Device and X-ray Systems Market
The global Diagnostic Imaging Industry size was valued at USD 29.47 billion in 2022 and is projected to expand at a compound annual growth rate (CAGR) of 4.83% from 2023 to 2030.
Grand View Research’s diagnostic imaging industry data book is a collection of market sizing information & forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.
Computed Tomography Market Insights
The global computed tomography market size was valued at USD 4,045.6 million in 2021 and is projected to expand at a compound annual growth rate (CAGR) of 7.3% from 2022 to 2030. Technological advancements in CT technology, coupled with the growing prevalence of chronic disorders such as cancer, orthopedics, and cardiovascular and neurological conditions are expected to accelerate the market growth. As per the WHO, in 2020 cancer accounted for about 10 million deaths globally. Since the onset of the COVID-19 pandemic, there has been a boost in the usage of CT scan equipment, therefore demand for advanced imaging solutions is projected to drive market expansion. As per OECD, in 2020 the number of CT units installed in the U.S. was 42 per million population.
The global computed tomography market based on technology, application, end-use, and region: The high-end slice (more than 64 slices) segment dominated the market and accounted for the largest revenue share of 34.8% in 2021. Increasing incidence of cardiovascular disorders and demand for accurate diagnostic imaging solutions are the factors expected to drive the segment. High-end slice technology has comparatively 80% less radiation exposure than mid-end slice technology (64 slices) with a 16 cm imaging area helping in accurate technique. High-end slice devices deliver detailed images of obese patients, the only factor expected to restrain the growth of this segment is the high cost of the high-end slice technology. However, improving healthcare infrastructure and improving financing ability would help in overcoming the restrain.
Order your copy of the Free Sample of “Diagnostic Imaging Industry Data Book - Computed Tomography, Magnetic Resonance Imaging, Nuclear Imaging, Ultrasound Device and X-ray Systems Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Magnetic Resonance Imaging (MRI) Market Insights
The global magnetic resonance imaging (MRI) market size was valued at USD 5.26 billion in 2022 and is anticipated to grow at a CAGR of 6.8% over the forecast period. MRI is an efficient diagnostic machine for identifying diseases related to spine lesions, tumors, and stroke impacting the area of blood vessels and brain. The increasing prevalence of these diseases is expected to play an important role in the market growth. For instance, as per the International Agency for Research on Cancer, in 2020, 19,292,789 new cancer cases were recorded globally. In addition to this the growing demand for quick and effective diagnostic procedures is expected to contribute towards the adoption of MRI machines. Various countries are installing these MRI machines.
The global magnetic resonance imaging market based on architecture, field strength, application, end-use, and region: The closed MRI system segment held the largest market share of more than 75% in 2022. The closed MRI system uses powerful magnetic fields and high-frequency radio waves to obtain detailed images. Closed structure enables getting detailed slice selection and error free analysis. Patients in the closed MRI may feel claustrophobic and disturbed due to its loud noise. These problems may result in inaccurate results. Some of the market players are focusing on developing wide bore and open MRI systems which are suited for claustrophobic and oversized patients. Some of the manufacturers of pediatric MRI machines even add drawings and cartoons on MRI machines to calm children going inside the scanner.
Ultrasound Device Market Insights
The global ultrasound device market size was valued at USD 10.2 billion in 2022 and is anticipated to grow at a compound annual growth rate (CAGR) of 4.3% from 2023 to 2030. The rise in the adoption of ultrasound devices for diagnostic imaging and treatment, coupled with the increasing incidences of chronic and lifestyle-related disorders, is expected to boost market growth. In addition, the rising demand for minimally invasive surgery and technological advancements in ultrasound imaging technology are some of the key factors driving the market. Ultrasound is considered one of the most valuable diagnostic tools in medical imaging because it is fast and less expensive. In addition, it is safer than other imaging technologies as it does not utilize ionizing radiation and magnetic field.
the global ultrasound device market on the basis of product, portability, application, end-use, and region: The diagnostic imaging ultrasound devices segment accounted for the largest revenue share of more than 72.0% in 2022. This is owing to the wide range of applications in obstetrics, cardiology, and oncology. In addition, the increasing prevalence of various lifestyle-related disorders and technological advancements are expected to boost the demand for diagnostic ultrasound devices. Furthermore, the worldwide market for diagnostic ultrasound devices is likely to be driven by rising demand for improved diagnostic devices such as miniaturized 2D and 3D/4D. The segment is further sub-segmented into 2D, 3D/4D, and Doppler.
Go through the table of content of Diagnostic Imaging Industry Data Book to get a better understanding of the Coverage & Scope of the study
X-ray Systems Market Insights
The global x-ray systems market size was valued at USD 6.7 billion in 2021 and is anticipated to expand at a compound annual growth rate (CAGR) of 2.3% from 2022 to 2030. Major factor driving the market is increase in the demand for early-stage diagnosis of chronic diseases. In addition, continuous technological advancements, rise in product development, improved fundings, and investments by the government, especially in developing countries, such as India and China, are also expected to contribute to the market growth. For instance, in June 2021 the government of India launched X-Ray Setu, a free Artificial Intelligence (AI) based platform to aid doctors for early Covid interventions.
The global x-ray systems market report on the basis of modality, technology, mobility, end use, region: The radiography segment dominated the market and accounted for the largest revenue share of more than 49.0% in 2021. The segment is further expected to continue its dominance over the forecast period. For the majority of the patients, radiography is the initial diagnostic imaging step recommended by doctors on their way to a definitive diagnosis. As this system has a wide range of applications and is less expensive and time-consuming than other systems. Furthermore, the increasing technological advancements is expected to boost market growth for this segment. For instance, in June 2020, Siemens Healthineers introduced Ysio X.pree1, an X-ray system with integrated AI, to help automate x-ray image acquisition and interpretation.
Diagnostic Imaging Industry Market – Global Industry Segmentation
Computed Tomography Market
- Technology Outlook
- High-end slice
- Mid-end slice
- Low-end slice
- Cone beam
- Application Outlook
- Oncology
- Neurology
- Cardiology
- Vascular
- Musculoskeletal
- Others
- End-use Outlook
- Hospital
- Diagnostics imaging center
- Ambulatory imaging center
Magnetic Resonance Imaging Market
- Architecture Outlook
- Closed System
- Open System
- Field Strength Outlook
- Low Field Strength
- Mid Field Strength
- High Field Strength
- Application Outlook
- Obstructive Sleep Apnea
- Brain and neurological
- Spine and musculoskeletal
- Vascular
- Abdomen
- Cardiac
- Breast
- Other
- End-Use Outlook
- Hospitals
- Imaging Centers
- Ambulatory Surgical Centers
- Others
Nuclear Imaging Market
- Technology Outlook
- SPECT
- PET
- End-Use Outlook
- Hospitals
- Outpatient facilities
- Research and Manufacturing
Ultrasound Device Market
- Product Outlook
- 2D
- 3D/4D
- Doppler
- Portability Outlook
- Handheld
- Cart/Trolley
- Application Outlook
- Cardiology
- Obstetrics/gynecology
- Vascular
- Orthopedics
- General imaging
- End-use Outlook
- Hospitals
- Imaging centers
- Research centers
X-ray Systems Market
- Modality Outlook
- Radiography
- Fluoroscopy
- Mammography
- Technology Outlook
- Digital radiography
- Computed radiography
- Mobility Outlook
- Stationary
- Mobile
- End-use Outlook
- Hospitals
- Diagnostic imaging centers
Diagnostic Imaging Industry Regional Outlook
- North America
- S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Denmark
- Sweden
- Norway
- Asia Pacific
- Japan
- China
- India
- Australia
- Thailand
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- Kuwait
- UAE
Key players operating in the Diagnostic Imaging industry are –
Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers AG, Canon Medical Systems, Mindray Medical International Limited, Samsung Medison Co., Ltd., FUJIFILM SonoSite, Inc., Konica Minolta Inc., Esaote
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