Diagnostic Imaging Equipment Market : Global Demand Analysis & Opportunity Outlook 2021

Medical imaging is the technique or process of creating visual illustrations of the inner body for clinical examination and medical interpolation, along with visual representation of the function of certain organs or tissues.

The global diagnostic imaging equipment market is anticipated to reach USD 37,925 Million by 2021 projecting a compound annual growth rate (CAGR) 6.7% during the forecast period 2015-2021.

Market Size and Forecast

Presently, North America has the largest share in the global diagnostic imaging equipment market owing to growing demand for innovative technologies like 3D, 4D & mobile scanner. In North America, the U.S. is estimated to rise 6.5% annually to reach USD 35.9 Billion in 2021.

Globally, the Asian and Latin American countries are projected to showcase the rapid growth in global diagnostic imaging equipment markets in coming years. On the back of rising government initiatives in the region like encourage health insurance, adding better technologies and related equipment in the government and private hospitals to allow the demand for diagnostic imaging devices to expand dramatically.

Market Segmentation

By Product

On the basis of product, the global diagnostic imaging equipment market is segmented as follows:

• Computed Tomography (CT) scanners
• Nuclear Imaging (NI) equipment
• Magnetic Resonance Imaging (MRI) systems
• Ultrasound scanners and
• X-ray Devices
• Others

By End User

On the basis of end user, the global diagnostic imaging equipment market can be segregated as mentioned below:

• Hospitals
• Private Diagnostic Laboratories
• Research Laboratories

By Region

On the basis of region, the global diagnostic imaging equipment market is segmented as follows:

• North America
• Latin America
• Western And Eastern Europe
• Asia-Pacific
• Middle East and Africa (MEA)
• Row (Rest Of World)

Growth Drivers and challenges

Increasing diseases epidemics across the globe, rising awareness about timely disease diagnosis and growing expenditure in healthcare sector, technological advancements coupled with expanded government initiatives across the globe and spending on healthcare services are some of the growth drivers for the global diagnostic imaging equipment market.

High cost involved in diagnostic procedures through imaging systems and hazards caused due to exposure to harmful rays etc. are posing a threat against the global diagnostic imaging equipment market.

Key Players

The key players of the global diagnostic imaging equipment market are as follows:

• Siemens
• GE
• Philips
• Toshiba
• Carestream
• Hitachi Medical Corporation
• Hologic Inc.
• Samsung Medison Co., Ltd. 
• Shimadzu Corporation
• Fonar Corporation