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Diagnostic Imaging Market Global Industry Analysis by Growth, Trends, and Demand Forecast to 2022

2018-06-28 13:52:16 | Medical Devices News
The diagnostic imaging market is projected to reach $39.0 billion by 2022, growing at a CAGR of 4.9% between 2016-2022.
The growing geriatric population, increasing prevalence of chronic diseases, technological advancement and widening application of diagnostic imaging devices, increasing need for diagnostic imaging procedures, and increasing healthcare expenditure are driving the growth of the market.

In terms of type, the diagnostic imaging market is segmented into x-ray imaging, ultrasound imaging, MRI, CT, nuclear imaging and others. The x-ray imaging devices accounted for the major share in the global market in 2015, and ultrasound imaging is the segment to witness the highest growth during 2016-2022.

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The Asia-Pacific market for diagnostic imaging is set to reach $10.2 billion by 2022. The market is expected to witness the fastest growth in Asia-Pacific due to improving healthcare infrastructure, increasing prevalence of chronic diseases and growing geriatric population. Among the countries of the Asia-Pacific region, the Chinese market is expected to grow at a CAGR of 6.7% during the forecast period. In Japan is the largest market for diagnostic imaging in Asia-Pacific. The growth of diagnostic imaging market in the country is driven by increasing healthcare expenditure, increasing prevalence of chronic diseases and aging population. The geriatric population in Japan is increasing every year.

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Companies in the diagnostic imaging market are entering into partnerships with other firms to improve their position in the market. For instance, in February 2016, Carestream Health signed a strategic partnership agreement with Alibaba Health to create a medical image management cloud platform that supports reading and sharing of clinical images, including radiology, cardiology, oncology, endoscopy, dermatology, pathology and more. Using Alibaba Health’s online healthcare services platform alihealth.com, Carestream will supply enterprise image management capabilities using its clinical collaboration platform.

Some of the key companies operating in the diagnostic imaging market include Siemens AG, Koninklijke Philips N.V., General Electric Company, Hitachi Ltd., Toshiba Corporation, Shimadzu Corporation, FUJIFILM Holdings Corporation, SAMSUNG, and Esaote SpA.

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