Diagnostic Imaging Market is expected to rise at a remarkable CAGR By 2023

Recently MRFR, a leading market research firm collated a novel report on “Global Diagnostic Imaging Market Research Study” that gives comprehensive market overview about the current market dynamics with a focus on the worldwide market.

The Global Diagnostic Imaging Market is expected to grow during the forecast period (2018–2023) at a CAGR ~6.2%. Global Diagnostic Imaging Market: Information by Product Type (X-Ray Equipment, Ultrasound Imaging Systems, and Others), Application (Gynecology, Oncology, Orthopedics, and Others ), End-User (Hospitals and clinics, and Others)—Global Forecast till 2023

Also Read : https://www.medgadget.com/2019/04/diagnostic-imaging-market-demand-insights-by-recent-trends-size-share-estimation-by-top-players-growth-analysis-key-developments-and-forecast-by-2023.html 

Key Players :

Market Research Future (MRFR) recognizes the following companies as the key players in Diagnostic Imaging Market: There are plenty of large and small market players which operate in this market all over the globe.Some of the key players in the global diagnostic imaging market are Siemens Healthcare Private Limited, Koninklijke Philips N.V.,CANON MEDICAL SYSTEMS CORPORATION, Shimadzu Corporation, Carestream Health,Esoate SpA, GE Healthcare, Toshiba Medical Systems Corporation,FUJIFILM Holdings Corporation, Hitachi Medical Systems, and Hologic Inc.

Market Drivers :

Diagnostic imaging helps to understand the functioning of body parts and create visual representation of interior of the body and provides support in detection of medical disorder. The continues increase in geriatric population, increasing prevalence of chronic diseases, and technological advancements are the major factors driving the growth of the global diagnostic imaging market. Additionally, increasing investment in R&D and aggressive strategies adopted by the major players, such as new product launches along with merger and acquisitions, are contributing to the growth of the market. For instance, in March 2017, General Electric Company announced the acquisition of Monica healthcare  for undisclosed amount, with this transaction the company will gain control over 1000 sites of Monica healthcare across Europe, Asia and north America .

The high costs associated with diagnostic imaging devices, unfavorable reimbursement policies and scarcity of technicians are likely to hinder market growth during the forecast period.

Segments :

The global diagnostic imaging market has been segmented on the basis of product, source, and application.

Based on  product type, the market has been divided into x-ray equipment, ultrasound imaging systems, nuclear imaging systems, magnetic resonance imaging (MRI), computed tomography (CT) scanners, and other products

The market, by application, has been segmented into gynecology, oncology, orthopedics, cardiology, gastroenterology, neurology, and other applications

The end-user segment has been further divided into hospitals and clinics, diagnostic centers, research institutes, and others.

Regional Analysis :

The Americas are likely to dominate the global diagnostic imaging market owing to the rising prevalence of chronic diseases in the aging population, increase in the number of cancer patients, the presence of a well-established healthcare system, and adoption of highly advanced technology. According to National cancer institute, in 2016, 15.5 million cancer cases were registered in united states, and it is expected to reach 20.3 million by the end of 2016. Also, the expenditure on cancer care in 2017 was 147.3 billion.

The European market is expected to be the second-largest diagnostic imaging market. The market growth in this region can be attributed to the favorable regulatory policies, increasing number of hospitals and diagnostic centers, and increasing healthcare expenditure. Moreover, increasing cases of chronic disorders is contributing to the growth of the market in this region. According to the Organization for Economic Co-operation and Development, in 2016 chronic diseases such as heart attacks, strokes, diabetes and cancer were responsible for 550,000 premature deaths in Europe and it cost around USD 130 billion to the economy.

Asia-Pacific is expected to be the fastest-growing diagnostic imaging market during the forecast period owing to the rising prevalence of chronic diseases, increasing  investments in healthcare and expansions by market players in the region, and increase in disposable income.

The market in the Middle East & Africa is expected to account for the smallest share of the global diagnostic imaging market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

FOR MORE DETAILS – https://www.marketresearchfuture.com/reports/diagnostic-imaging-market-6765 

Leave a Reply

Your email address will not be published. Required fields are marked *