Market Definition:
The global Diagnostic Imaging Market size was over USD 33.2 billion in 2022 and is anticipated to grow at a rate of approximately 4.5% during the study period.
The diagnostic health imaging technology has transformed healthcare and now allows for earlier diagnosis of medical conditions, reduces the need for needleless invasive exploratory processes, and creates better patient outcomes. It describes the various techniques of viewing the inside of the body to help figure out the causes of an illness or injury and confirm a diagnosis.
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Market Outlook:
The growing geriatric population and the increasing prevalence of associated diseases are boosting the growth of the market. The risk of developing diseases increases respectively with age. According to the Centers for Disease Control and Prevention (CDC), nearly 80% of the elderly in the US suffer from at least one chronic condition. Adding to these, the American Medical Association (AMA) estimates that at least 60% of individuals aged 65 and above will be living with more than one chronic condition by 2030. This growth in the aging population will drive the demand for improved healthcare facilities and advanced treatment options and medication. With the rising growth in the geriatric population across the globe, the prevalence of age-associated diseases like Alzheimer’s disease, Parkinson’s disease, arthritis, and dementia, along with CVDs and cancer, is expected to rise.
The key factor hindering the growth of the market is the technological limitations associated with standalone systems. Technological limitations related to standalone imaging modalities deter researchers from purchasing them, negatively affecting their market growth. For example, MRI takes longer to scan large volumes or high-resolution images, whereas PET has a lower spatial resolution. Ultrasound systems are heavily operator-dependent, require direct contact with the body, and have limited tissue depth penetration. SPECT has low detection sensitivity, and CT has poor soft-tissue contrast, providing minimal information about functional characteristics, and carries the risk of radiation exposure for both physicians and patients.
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Research Objectives:
• Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
• Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
• Identify factors influencing market growth and challenges, opportunities, drivers and restraints
• Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
• Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
• Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
• To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
• Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
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Segmental Overview:
The report analyses the global diagnostic imaging market based on Product, Application, End User, Technology, and Region.
Key Players:
- GE Healthcare (US)
- Siemens Healthineers (Germany)
- Koninklijke Philips N.V. (Netherlands)
- Canon Medical Systems Corporation (Japan)
- FUJIFILM Holdings Corporation (Japan)
- Hitachi Ltd. (Japan)
- Carestream Health, Inc. (US)
- Esaote S.p.A (Italy)
- Hologic, Inc. (US)
- Agfa-Gevaert N.V. (Belgium)
- Samsung Electronics (South Korea)
- Mindray Medical International (China)
- Planmed Oy (Finland)
- CurveBeam LLC (US)
- Shimadzu Corporation (Japan)
- Allengers Medical Systems (India)
- Neusoft Medical Systems (China)
- Konica Minolta, Inc. (Japan)
- NP, JSC Amico (Russia)
- Konica Minolta (Japan)
- SternMed (Germany)
- Neusoft Medical Systems (China)
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Research Scope:
• Scope – Highlights, Trends, Insights. Attractiveness, Forecast
• Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
• Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
• Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
• Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
• Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
• Market Size in 2021 – $33.2 Billion
• Market Size in 2031 – $66.8 Billion
• CAGR % – 5.9%
• Historic Period – 2016-2021
• Forecast Period – 2023-2032
• Base Year – 2022
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