Diagnostic Imaging Market Size, Share, Qualitative Analysis & Industry Growth Factors and is growing at a CAGR of 6.55% by 2029

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Luton, Bedfordshire, United Kingdom, Sept. 05, 2022 (GLOBE NEWSWIRE) — Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Diagnostic Imaging Market.

The global Diagnostic Imaging Market is projected to reach USD 43.74 Billion by 2029 from USD 25.29 billion in 2020, at a CAGR of 6.55% from 2022 to 2029. 

Diagnostic imaging also allows for great learning of anatomical structure and human diseases. Diagnostic imaging is expected to grow at a double-digit growth rate during the forecast period. Diagnostic imaging is seeing strong growth as a way to detect cancer at an early stage and follow tumor progression. Diagnostic imaging leads to significant time savings in the analysis of radiology reports. A large number of multinational radiology and diagnostic imaging companies such as Philips Healthcare, GE Healthcare and Siemens are developing their own artificial intelligence diagnostic imaging solution.

Medical diagnosis is the process of determining which disease or condition explains a person’s symptoms and signs. It is most commonly referred to as a diagnosis, with the medical context being implied.

Budget Cuts in the Hospitals is limiting the growth of Diagnostics Imaging Market.

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Regional Opportunities- The diagnostic imaging market in North America was the largest, followed by the Asia Pacific region. Developing economies such as India, China, Brazil, South Korea, Turkey, Russia, and South Africa offer major participants in the diagnostic imaging industry significant potential opportunities. Although cost is an issue in these emerging countries, their large populations—particularly in India and China—provide a long-term market for diagnostic imaging technologies. These countries’ higher prevalence of chronic diseases, such as cancer, stroke, and neurological and cardiovascular diseases, as well as their higher death rates, demonstrate the importance of early detection. GLOBOCAN 2020 statistics, for example, suggests that developing countries account for about half of the worldwide cancer population.

Recent Developments

  • In 2021, The Spectral Computed Tomography (CT) 7500 solution for precision diagnosis was launched by Koninklijke Philips N.V. (Netherlands).
  • In 2021, Venue Fit, a simplified and compact POCUS system, was launched by GE Healthcare (US), combined with an industry-first AI product for cardiology.

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Diagnostic Imaging Market Scope and Segmentation

Report Feature Details
Base Year: 2021
Projection Period: 2022-2029
Market Details: Total revenue and forecast, CAGR, Market value, share, and Y-o-Y growth by segment and region
Segment Covered: By Product, by End User, By Application.
Regional and Country Scope North America: includes the US, Canada, Mexico

Asia Pacific: includes China, Japan, South Korea, India, Australia, ASEAN and Rest of APAC

Europe: includes UK, Germany, France, Italy, Spain, Russia, and Rest of Europe

South America: includes Brazil, Argentina and Rest of South America

Middle East & Africa: includes Turkey, UAE, Saudi Arabia, South Africa, and Rest of MEA

Report Coverage: Market growth driving factors, challenges & pitfalls, opportunities, key trends, key players analysis, and region analysis
Market Players Covered GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Agfa-Gevaert N.V. (Belgium), Canon Medical Systems Corporation (Japan), Hitachi Ltd. (Japan), Carestream Health, Inc. (US), Esaote S.p.A (Italy), Hologic, Inc. (US), FUJIFILM Holdings Corporation (Japan), Samsung Electronics (South Korea), Mindray Medical International (China), Planmed Oy (Finland), CurveBeam LLC (US), Shimadzu Corporation (Japan)
Largest regional market North America (45%)
market growth Several healthcare providers have connected themselves with group buying organisations (GPOs), integrated health networks (IHNs), and integrated delivery networks in response to increased government pressure to reduce healthcare costs (IDNs). These groups pool their members’ purchasing power and negotiate with medical equipment suppliers and manufacturers for a lower price. For mass purchasing of diagnostic imaging devices, GPOs, IHNs, and IDNs engage in extensive negotiations.

Standalone systems have technological limitations.

Due to technological restrictions, researchers are hesitant to purchase independent imaging modalities, limiting their market growth. Large volumes or high-quality images require longer to scan using MRI, but PET has a lesser spatial resolution. Ultrasound systems rely significantly on the operator, necessitate direct touch with the body, and have limited tissue penetration depth. SPECT has a low detection sensitivity, while CT has poor soft-tissue contrast, offering less information on functional qualities and exposing clinicians and patients to radiation.

Key Market Segments: Diagnostic Imaging Market

Diagnostic Imaging market By Product, 2020-2029, (USD Millions)

  • MRI
  • Computed Tomography
  • Ultrasound
  • X-Ray
  • Nuclear Imaging

Diagnostic Imaging market by application, 2020-2029, (USD Millions)

  • Cardiology
  • Oncology
  • Neurology
  • Orthopaedics
  • Gastroenterology
  • Gynaecology
  • Other Applications

Diagnostic Imaging Market by End User, 2020-2029, (USD Millions)

  • Hospital
  • Diagnostic Imaging Centres
  • Others

 Detailed TOC of Global Diagnostic Imaging Market Research Report 2022

1 Report Introduction
2 Executive summary
3 Regulatory and Patent Analysis
4 Key Factors Analysis
5 Porter’s Five Forces Analysis
6 COVID-19 Impact Analysis on Diagnostic Imaging Market
7 Diagnostic Imaging Market Layout
8 Global Company Share Analysis – Key Companies
9 Diagnostic Imaging Market Company and Product Profiles
10 Project Approach
11 Report Coverage- Market Trends, Drivers, Restraints, Competitive Analysis, Player Profiling, Regulation Analysis

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Key inquiries addressed in the report:

The effects of the COVID 19 outbreak are being investigated

Our researchers give precise responses and suggest excellent market strategy avenues.

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