Diagnostic Imaging Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019 to 2026

Diagnostic Imaging Market Global Trends, Market Share, Industry Size, Growth,
Opportunities, and Market Forecast 2019 to 2026
Global Diagnostic Imaging Market to value over US $ 33 billion and grow at
a CAGR of over 5% during the forecast period of 2019 to 2026.
With rising consciousness about the benefits of early-stage diagnosis which has
resulted in a surge for the demand for diagnostic services.This is regarded as an
essential and primary growth inducer for the global medical imaging market. Factors
such as rising geriatric population and access to cost-effective medical imaging
systems are also making a positive impact on the market. Technological
improvements are playing an important role, as it is central to the particular
healthcare vertical. Hence, market players are consistently exploring and innovating
to develop more efficient medical imaging devices.
With the rise in geriatric population, the prevalence of chronic diseases is also on the
rise. This is due to the erratic sedentary lifestyle and poor dietary patterns.
Cardiovascular and cancerous ailments cause major casualties and are proven to be
fatal. Early diagnosis can greatly increase patient survival rate, which is why
developing countries are taking initiatives to spread awareness about medical
imaging and diagnostics.
Demand for diagnostic services is anticipated to grow during the forecast period due
to a rise in the number of patients gaining access to medical facilities. Medical
imaging will remain a pivotal area of focus for healthcare technology companies.The
market is likely to witness new entrants who will explore and fund unique and novel
imaging solutions.The emphasis that is being placed on the technical aspects of
medical imaging has led to increased processing speed, integrating 3D and 4D
imaging technology and automation among others. Such technological
enhancements are favoring the adoption of medical imaging in hospitals and
diagnostic centers.
Globally, North America and Europe will collectively account for major market share
in the diagnostic imaging systems market. This can be mainly attributed to the
presence of established players, increasing adoption of telemedicine, and the rise in
the prevalence of chronic diseases in these regions.
The governments across the globe are running awareness programs to educate
people regarding early diagnosis of chronic diseases. Such initiatives make patients
aware of the early diagnosis among healthcare providers and consumers. Diagnostic
imaging has helped doctors to detect diseases in the beginning, thereby improving
patient survival rates. Diagnostic imaging systems improve healthcare quality and
reduce healthcare costs by shortening recovery time and avoiding unnecessary
invasive procedures. Such factors are playing a pivotal role in the growth of the
diagnostic imaging systems market.
The market is characterized by developments and strategies by main firms. For
instance, in 2019, the U.S. Food and Drug Administration (USFDA) approved Siemens
Healthineers’ MAGNETOM Lumina 3 Tesla MRI scanner. The system features
BioMatrix patient personalization technology, which significantly improves
productivity while reducing scan time. Furthermore, in 2018, Carestream Health Inc.
received the USFDA 510(k) clearance for its OnSight 3D Extremity System. This
imaging system uses cone beam CT technology to capture weight-bearing and other
types of extremity exams. These developments fuel the market and advance it
globally, thus helping it grow extensively.
Major firms in the diagnostic imaging systems market are Konica Minolta Inc.,
Dornier MedTech GmbH, SternMed GmbH, MinFound Medical Systems Co. Ltd.,
DRGEM CO. LTD., SonoScape Medical Corporation, Analogic Corporation, and Fonar
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Market Segmentation:
By Product
● MRI Systems
o By Architecture
● Closed MRI Systems
● Open MRI Systems
o By Field Strength
● High and Very-High Field MRI Systems
● Low-To-Mid-Field Systems
● Ultra-High-Field Systems
● Ultrasound Imaging Systems
o By Technology
● 2D Ultrasound
● 3D and 4D Ultrasound
● Doppler Ultrasound
o By Portability
● Trolley/Cart-Based Ultrasound Systems
● Compact/Portable Ultrasound Systems
● 6.4 CT Scanners
o By Type
● Conventional CT Scanners
■ High-Slice CT Scanners
■ Mid-Slice CT Scanners
■ Low-Slice CT Scanners
■ Cone Beam CT Scanners
● Nuclear Imaging Systems
o Spect Systems
Hybrid Spect System
Standalone Spect Systems
o Hybrid PET Systems
● X-Ray Imaging Systems
o By Type
■ Digital X-Ray Imaging Systems
■ Direct Radiography Systems
■ Computed Radiography Systems
■ Analog X-Ray Imaging Systems
o By Portability
■ Stationary Systems
■ Portable Systems
■ Mammography Systems
By Application
● X-Ray Imaging Systems
o General Radiography
o Dental
o Fluoroscopy
● MRI Systems
o Brain & Neurological MRI
o Spine & Musculoskeletal MRI
o Vascular MRI
o Pelvic & Abdominal MRI
o Breast MRI
● Ultrasound Systems
o Radiology/General Imaging
o Obstetrics/Gynecology (OB/GYN)
o Cardiology
o Vascular
o Urology
o Other Applications
● CT Scanners
o Cardiology
o Oncology
o Neurology
o Other Applications
● Nuclear Imaging Systems
o Cardiology
o Oncology
o Neurology
o Other Applications
● Mammography Systems
By End-User
● Hospitals
● Diagnostic Imaging Centers
● Other End Users
By Region
● Europe
● North America
● Latin America
● Rest of the World
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Competitive Landscape:
● Tier 1 players- established companies in the market with a major market share
● Tier 2 players
● Emerging players which are growing rapidly
● New Entrants
FutureWise Takeaways:
● Growth prospects
● SWOT analysis
● Key trends
● Key data points affecting market growth
Objectives of the Study:
● To provide an exhaustive analysis on the global diagnostic imaging market by
product, by application, by end-user and by region
● To cater comprehensive information on factors impacting market growth (drivers,
restraints, opportunities, and industry-specific restraints)
● To evaluate and forecast micro-markets and the overall market
● To predict the market size, in key regions (along with countries)—North America,
Europe, Asia Pacific, Latin America, and the rest of the world
● To record evaluate and competitive landscape mapping- product launches,
technological advancements, mergers and expansions
● Profiling of companies to evaluate their market shares, strategies, financials and
core competencies
Table of Contents
1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Markets Scope
1.3.1 Markets Covered
1.3.2 Years Considered for the Study
1.4 Currency
1.5 Limitations
1.6 Stakeholders
2 Research Methodology
2.1 Research Methodology Steps
2.2 Secondary and Primary Research Methodology
2.2.1 Secondary Research Key Data From Secondary Sources
2.3 Regulatory Landscape
2.3.1 Primary Research Key Data From Primary Sources
2.4 Market Size Estimation
2.4.1 Product-Based Market Estimation
2.4.2 Primary Research Validation
2.5 Market Breakdown and Data Triangulation
2.6 Research Assumptions and Limitations
2.6.1 Assumptions for the Study
2.6.2 Limitations
3 Executive Summary
4 Premium Insights
4.1 Diagnostic Imaging: Market Overview
4.2 Diagnostic Imaging Market, By Product, 2019 vs 2024 (USD Million)
4.3 Geographic Analysis: APAC Diagnostic Imaging Market Share, By Product and
Country, 2019
4.4 End User Analysis: Market Share, 2019 vs 2024
4.5 Geographic Snapshot of the Diagnostic Imaging Market
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers Rapidly Growing Geriatric Population and the Subsequent Increase
in the Prevalence of Associated Diseases Increasing Demand for Early Diagnosis and Widening Scope of
Clinical Applications Technological Advancements in Diagnostic Imaging Modalities Increasing Investments, Funds, and Grants By Public-Private
5.2.2 Restraints High Cost of Diagnostic Imaging Systems Technological Limitations Associated With Standalone Systems Declining Reimbursements and Increasing Regulatory Burden in
the US Shortage of Helium
5.2.3 Opportunities High Growth Opportunities in Emerging Countries Adoption of Artificial Intelligence and Analytics in Diagnostic
Imaging Use of Blockchain in Diagnostic Imaging Increasing Adoption of Teleradiology Contract-Based Radiology Solutions and Mobile Solutions
5.2.4 Challenges Hospital Budget Cuts Increasing Adoption of Refurbished Diagnostic Imaging Systems Dearth of Trained Professionals
5.3 Trends & Burning Issues
5.3.1 Increasing Adoption of Hybrid Diagnostic Imaging Modalities
5.3.2 Overutilization of Diagnostic Imaging Services Around the World
5.4 Pricing Analysis
6 Diagnostic Imaging Market, By Product
6.1 Introduction
6.2 MRI Systems
6.2.1 MRI Systems Market, By Architecture Closed MRI Systems Closed MRI Systems are Widely Adopted Across the Globe Open MRI Systems Open MRI Can Reduce Anxiety in Claustrophobic
6.2.2 MRI Systems Market, By Field Strength High and Very-High Field MRI Systems High and Very-High Field MRI Systems Dominate the
Global MRI Systems Market Low-To-Mid-Field Systems Technological Limitations have Reduced the Adoption of
Low-To-Mid-Field MRI Systems Ultra-High-Field Systems Innovation and Advancements in Applications Have
Supported the Demand for Ultra-High-Field Systems
6.3 Ultrasound Imaging Systems
6.3.1 Ultrasound Systems Market, By Technology 2D Ultrasound 2D Ultrasound Dominates the Global Ultrasound Systems
Market 3D and 4D Ultrasound Technological Advancements and Potential are Driving the
Demand for 3D & 4D Ultrasound Doppler Ultrasound While Noninvasive, Doppler Imaging Can Heat Tissues
Being Scanned
6.3.2 Ultrasound Systems Market, By Portability Trolley/Cart-Based Ultrasound Systems Wide Applications and Technological Advancements in
Trolley/Cart-Based Systems are Driving Market Growth Compact/Portable Ultrasound Systems High Portability and Ease of Use is Contributing to the
Demand for Compact Systems
6.4 CT Scanners
6.4.1 CT Scanners Market, By Type Conventional CT Scanners Conventional CT Scanners Market, By Type High-Slice CT Scanners High Imaging Resolution and Wide
Applications of High-Slice Scanners have Made Them Popular Among End Users Mid-Slice CT Scanners Affordability of Mid-Slice CT has
Driven Its Adoption in Emerging Markets Low-Slice CT Scanners Low-Slice CT Scanners are Being
Replaced With Mid-Slice CT Systems Cone Beam CT Scanners Lower Radiation Exposure and Increasing Applications in
Dental and Limb Scanning have Driven CBCT Adoption
6.5 Nuclear Imaging Systems
6.5.1 Spect Systems Hybrid Spect Systems High Cost and Shortage of Technetium-99m Have
Hindered Market Growth Standalone Spect Systems Low Cost, Technological Advancements, and Long
Radiotracer Half-Life Have All Contributed to Market Growth
6.5.2 Hybrid PET Systems Hybrid PET Systems Hold Greater Prospects of Dominating the
Nuclear Imaging Systems Market in the Near Future
6.6 X-Ray Imaging Systems
6.6.1 X-Ray Imaging Systems Market, By Type Digital X-Ray Imaging Systems Direct Radiography Systems High Throughput Capabilities and Quick
Operations Have Propelled the Demand for DR Systems Computed Radiography Systems CR Technology is Rapidly Replacing Analog
Systems Acting in the Emerging Economies Analog X-Ray Imaging Systems Higher Risk of Radiation Exposure and Technological
Limitations Impede Market Growth of Analog Systems
6.6.2 X-Ray Imaging Systems Market, By Portability Stationary Systems Greater Integration of Configurations Makes Stationary XRay Systems Preferable in A Diagnostic Clinic Portable Systems Portable X-Ray Systems Show High Adoption in Trauma
Care and Emergency Departments
6.7 Mammography Systems
6.7.1 Mammography Systems Segment to Grow at the Highest CAGR
7 Diagnostic Imaging Market, By Application
7.1 Introduction
7.2 X-Ray Imaging Systems
7.2.1 General Radiography General Radiography Applications Account for the Largest Share of
the X-Ray Imaging Systems Market
7.2.2 Dental High Prevalence of Dental Disorders to Drive the Growth of This
Application Segment
7.2.3 Fluoroscopy Product Launches and Approvals of Fluoroscopy Systems to
Support the Growth of This Application Segment
7.3 MRI Systems
7.3.1 Brain & Neurological MRI Brain & Neurological MRI Segment Dominates the MRI Systems
Market Due to the Growing Incidence of Neurodegenerative Diseases and Brain
7.3.2 Spine & Musculoskeletal MRI MRI is the Most-Preferred Imaging Method for the Diagnosis and
Prognosis of MSK Disorders and Spinal Injuries
7.3.3 Vascular MRI Rising Incidence of Vascular Disorders to Drive the Market for This
Application Segment
7.3.4 Pelvic & Abdominal MRI Increasing Incidence of Pelvic & Abdominal Diseases to Support
Market Growth
7.3.5 Breast MRI Rising Prevalence of Breast Cancer and Increasing Awareness
About Early Breast Cancer Screening—Key Drivers for the Breast MRI Market
7.3.6 Cardiac MRI Rising Incidence of Cvd and Technological Advancements in
Cardiac MRI are the Key Factors Supporting the Growth of This Application Segment
7.4 Ultrasound Systems
7.4.1 Radiology/General Imaging Radiology/General Imaging is the Largest Application Segment of
the Ultrasound Market
7.4.2 Obstetrics/Gynecology (OB/GYN) Increasing Demand for Minimally Invasive Techniques in
Gynecological Diagnostic Procedures to Support Market Growth
7.4.3 Cardiology Cardiology is One of the Largest and Most-Widely Used Ultrasound
Application Segments
7.4.4 Vascular Vascular Ultrasound is One of the Fastest-Growing Application
Segments for Ultrasound Technologies Across Major Markets
7.4.5 Urology Rising Incidence of Prostate Disorders & Kidney Stones and
Technological Innovations in the Field of Urological Ultrasound to Drive the Market
for This Application Segment
7.4.6 Other Applications
7.5 CT Scanners
7.5.1 Cardiology Cardiac CT is One of the Largest and Most-Widely Used CT
Application Segments Across the Globe
7.5.2 Oncology Rising Incidence of Cancer and Technological Advancements in CT
Scanners to Support Market Growth
7.5.3 Neurology Increasing Adoption of CT Scanners for Diagnosing Various
Neurological Conditions to Drive Market Growth
7.5.4 Other Applications
7.6 Nuclear Imaging Systems
7.6.1 Cardiology High Prevalence of CVD is the Major Factor Driving the Growth of
This Segment
7.6.2 Oncology Nuclear Imaging Systems Can Distinguish Between Benign and
Malignant Tumors, Which Help Physicians in Precise Diagnosis and Decision Making
7.6.3 Neurology Increasing Demand of Nuclear Imaging Procedures for Diagnosing
Neurological Disorders is Supporting the Growth of This Segment
7.6.4 Other Applications
7.7 Mammography Systems
8 Diagnostic Imaging Market, By End User
8.1 Introduction
8.2 Hospitals
8.2.1 Large Hospitals Have Been Early Adopters of Diagnostic Imaging Systems
8.3 Diagnostic Imaging Centers
8.3.1 Increasing Number of Private Imaging Centers is Contributing to Market
8.4 Other End Users
9 Diagnostic Imaging Market, By Region
9.1 Introduction
9.2 North America
9.2.1 US US Dominated the North American Market in 2018
9.2.2 Canada Dearth of Radiologists and Long Wait Time for Scans are the Major
Challenges in the Canadian Market
9.3 Europe
9.3.1 Germany Germany Accounted for the Largest Share of the European Market
9.3.2 UK Government Initiatives to Support Market Growth in the UK
9.3.3 France Uncertainties With Regard to the Pricing Strategy of Diagnostic
Companies to Limit Market Growth in France to A Certain Extent
9.3.4 RoE
9.4 Asia Pacific
9.4.1 China Government Initiatives in the Form of Healthcare Reforms and
Investments and the Rapidly Growing Aging Population to Drive the Growth of the
Market in China
9.4.2 Japan Fast Adoption of Advanced Technologies as Well as Investments
and Innovations From Key Market Players are Key Growth Drivers
9.4.3 India Uncertainties in Healthcare Policies Might Restrict the Growth of
the Market in India in the Coming Years
9.4.4 RoAPAC
9.5 Rest of the World
9.5.1 Latin America
9.5.2 Middle East & Africa
10 Competitive Landscape
10.1 Introduction
10.2 Market Share Analysis, By Key Players
10.2.1 Diagnostic Imaging Market
10.2.2 X-Ray Imaging Systems Market
10.2.3 MRI Systems Market
10.2.4 CT Scanners Market
10.2.5 Ultrasound Imaging Systems Market
10.2.6 Nuclear Imaging Systems Market
10.2.7 Mammography Systems Market
10.3 Competitive Situation and Trends
10.4 Competitive Leadership Mapping
10.5 Vendor Inclusion Criteria
10.5.1 Vendor Dive
10.5.2 Innovators
10.5.3 Dynamic Differentiators
10.5.4 Emerging Players
10.5.5 Visionary Leaders
10.5.6 Progressive Companies
10.5.7 Starting Blocks
10.5.8 Responsive Companies
10.5.9 Dynamic Companies
11 Company Profiles
(Business Overview, Products Offered, Recent Developments, and FutureWise View)*
11.1 GE Healthcare (General Electric Company)
11.2 Koninklijke Philips N.V.
11.3 Siemens Healthineers (Subsidiary of Siemens Group)
11.4 Canon Inc.
11.5 Hitachi, Ltd.
11.6 Shimadzu Corporation
11.7 Carestream Health
11.8 Esaote SPA
11.9 FUJIFILM Holdings Corporation
11.10 Samsung Electronics Co., Ltd.
11.11 Agfa–Gevaert N.V.
11.12 Hologic, Inc.
11.13 CurveBeam LLC
11.14 Planmed Oy
11.15 Mindray Medical International Limited (A Subsidiary of Excelsior Union, Ltd.)
*Details on Business Overview, Products Offered, Recent Developments, and
FutureWise View Might Not Be Captured in Case of Unlisted Companies.
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Global Diagnostic Imaging Market to value over US $ 33 billion and grow at a CAGR of over 5% during the forecast period of 2019 to 2026. With rising consciousness about the benefits of early-stage diagnosis which has resulted in a surge for the demand for diagnostic services.This is regarded as an essential and primary growth inducer for the global medical imaging market.