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Diagnostic Imaging Market Analysis, Market Size, Application Analysis, Regional Outlook, Competitive Strategies And Forecasts, 2019 To 2025

  1. Published: March, 2019
  2. Format: Electronic (PDF)
  3. Number of pages: 70
  4. Industry: Medical Imaging

The global diagnostic imaging market is projected to witness substantial growth in the coming years owing to rising demand for minimally invasive treatment. Diagnostic imaging is an advanced medical technique to capture clear images of organs and internal structures of the patient’s body. These images are used by healthcare professionals to diagnose and monitor diseases and injuries in patients. Diagnostic imaging enables early diagnosis of chronic diseases, which can increase the chances of successful treatment.

Growing need for advanced diagnostic techniques to study medical conditions in the best possible manner can augment market growth. Medical problems like broken bones, cardiac abnormalities, gastrointestinal issues, and cancer are likely to impel demand for advanced imaging technologies for effective diagnosis and treatment. Clear and detailed images can help healthcare professionals to make accurate and effective medical decisions. This, in turn, can propel demand for technologically advanced medical devices in healthcare facilities. Moreover, supportive government initiatives to develop healthcare infrastructure across the globe can stimulate growth of the market. Rising demand for portable imaging devices in remote areas to improve healthcare facilities and provide better medical treatment can augment market expansion in the coming years.

High cost of machinery and its installation can hamper growth of the market. However, R&D activities by manufacturing companies to develop technologically advanced medical devices can create lucrative opportunities for the market. For instance, OmniVision Technologies, Inc. in collaboration with Lighthouse Imaging, introduced a new platform that allows medical device manufacturers to integrate stereoscopic 3D imaging into endoscopes. The platform incorporates an image signal processor and two CMOS image sensors from OmniVision, and camera control unit and a light control board for LED illumination from Lighthouse.

The market can be segmented on the basis of product type and application. Based on product type, the market can be categorized into X-ray, computed tomography (CT) scanners, and magnetic resonance imaging (MRI) systems. In terms of application, the market can be classified into cardiovascular and thoracic, neuro and spine, orthopedics and musculoskeletal, obstetrics, and breast health.

North America is likely to witness significant growth in the coming years owing to growing elderly population. The United States is expected to hold the largest share in the market than other developed countries. Rising demand for advanced diagnostic services owing to increasing cases of chronic diseases among elderly population can impel regional market growth. Supportive reimbursement policies and technological developments in imaging modalities by manufacturing companies can drive the market in the coming years. For instance, GE Healthcare launched its new ultrasound system named Versana Essential. The system offers high image quality and help healthcare professionals during diagnosis. Doctors can use it to view kidney vessels, thyroid vasculature, and assess blood flow through the carotid, aorta, and other vessels.

Europe is estimated to witness remarkable market growth owing to significant advancements in in the brain imaging sector and stroke services. Increasing use of teleconsulting and teleradiology in the healthcare sector can impel regional market expansion. Advent of telemedicine in Germany can propel demand for advanced machines to view, access, and share radiographic images or diagnostic reports. Countries like France, United Kingdom, and Russia are also likely to contribute significantly to regional growth. Launch of innovative products by manufacturers can gain traction among healthcare providers. For instance, Philips introduced its new mobile C-arm imaging platform named Zenition. The platform can provide live image guidance to healthcare professionals during surgeries. Advanced features like position memory and BodySmart software can allow the device to capture the images fast and consistently. In addition, MetalSmart software can automatically improve image quality in terms of brightness and contrast.

Asia Pacific is likely to bode well in the coming years owing to growing ageing population and increasing incidence of chronic diseases. Growth of the medical tourism in developing countries like India, Japan, and China owing to advanced healthcare infrastructure can augment regional growth. Supportive government policies and medical grants to execute R&D activities in the healthcare sector can drive the market in the coming years.

Some of the leading companies operating in the diagnostic imaging market are Siemens Healthcare, GE Healthcare, Hitachi Medical Corporation, Philips Healthcare, and Toshiba Medical Systems Corporation.

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