Diagnostic Imaging Equipment Market

The global diagnostic imaging equipment market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing technological advancements, growing focus on medical imaging equipment, and rising geriatric population with a relatively weaker immune system.

Diagnostic imaging equipment refers to the range of devices using variety of procedures for looking into the body to determine the source of a disease or damage and confirm a diagnosis. It is also used by doctors to assess how well a patient's body responds to fracture or sickness therapy.

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Moreover, diagnostic imaging equipment allows doctors to see inside the human body to see if there are any signs of a health problem. Some devices and procedures can generate images of human body's activities and structures. Based on the body part being examined and symptoms, doctor decides which type of medical imaging tests are required for the treatment.

Market Trends, Drivers, Restraints, and Opportunities

• Rising government funding relating to diagnostic imaging studies and growing patient awareness levels concerning early-stage diagnosis are expected to boost the market growth.
• High demand for efficient & effective imaging technologies for diagnosis and rapidly changing urban lifestyle are some of the key factors fueling the market expansion.
• Growing cases of chronic diseases such as cardiovascular disorder, cancer, gastrointestinal ailments, and various genetic mutations are required of advanced imaging equipment. This is estimated to propel the market growth in the coming years.
• High costs involved in manufacturing imaging devices and side effects of releasing radiations are major challenging factors of the market. This is expected to hamper the market growth.
• Technological advancements in the area of radiology is anticipated to offer enormous opportunities for the market expansion in the coming years.

Scope of Diagnostic Imaging Equipment Market Report

The report on the global diagnostic imaging equipment market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Diagnostic Imaging Equipment Market Segment Insights

MRI system segment is projected to expand at a considerable CAGR

On the basis of modalities, the global diagnostic imaging equipment market is segregated mammography systems, x-ray imaging system, magnetic resonance imaging (MRI) systems, nuclear imaging systems, and computed tomography (CT) scanners. The mammography systems segment is further bifurcated into analog and digital systems.  The ultrasound systems consists of technology, types, and portability.

Furthermore, the technology segment is further segregated into 2D, 3D & 4D ultrasound, doppler imaging, high-intensity focused ultrasound, and extracorporeal shockwave lithotripsy. The types segment is sub-divided into black ultrasound and white ultrasound while the portability segment is sub-divided into cart/ trolley devices and handheld/ compact devices.

Moreover, the X- ray imaging systems segment is bifurcated into technology and portability. On the basis of technology, the X- ray imaging systems are divided into analog X-ray imaging systems and digital X-ray imaging systems. Furthermore, the X- ray imaging systems segment is bifurcated by stationary X-ray imaging systems and portable X-ray imaging systems.

The MRI systems segment is bifurcated into architecture technique and field strength technique. Furthermore, on the basis of architecture technology, the MRI systems are divided into closed MRI system and open MRI systems. Based on field strength, the MRI systems are segregated as low-to-mid-field MRI, very-high-filed MRI, high-field MRI, and ultra-high-filed MRI.

However, the nuclear imaging systems segment is sub-segregated into SPECT Scanners, PET Scanners, and Computed Tomography (CT) Scanners are segregated on the basis of slice type, mid-end slice, low-end slice, and high-end slice scanners.

The MRI system segment is projected to expand at a considerable CAGR during the forecast period due to the increasing awareness pertaining to the benefits of early diagnosis, technological advancements of low-field MRI systems with high-field MRI systems, and finding of new helium deposits.

Moreover, the growth of the segment is attributed to the growing geriatric population, accumulative foreign direct investment (FDI) enabling local and foreign MRI manufacturers to invest in MRI development projects, well-established healthcare infrastructure, rising disposable incomes, and expanding demand for high-field MRI equipment in several countries.

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North America is anticipated to constitute a key market share

In terms of regions, the market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is anticipated to constitute a key market share during the forecast period owing to the well-established healthcare infrastructure, increasing investments in diagnostic imaging, and existing favorable reimbursement policies in the region.

Moreover, increasing demand for technologically advanced equipment such as 3D, 4D & mobile scanner and growing need for early-stage detection of several types of cardiovascular & cancer diseases are expected to fuel the market growth in the region.

However, the market of Asia Pacific is anticipated to expand at a fast growth rate in the coming years attributed to the growing demand for advanced diagnostic procedures and rising awareness of the importance of early-stage diagnosis.

Furthermore, rising elderly population with lower immunity levels and continuously improving reimbursement policies relating to the diagnostic imaging market along with growing public & private hospital funding are some of the factors propelling the market growth in Asia Pacific.

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Segments

The global diagnostic imaging equipment market has been segmented on the basis of

Modalities

• Mammography Systems
  • Analog
  • Digital
• Ultrasound Systems
  • Technology
    • 2D, 3D & 4D Ultrasound
    • Doppler Imaging
    • High- intensity Focused Ultrasound
    • Extracorporeal Shockwave Lithotripsy
  • Types
    • Black Ultrasound
    • White Ultrasound
  • Portability
    • Cart/ Trolley Devices
    • Handheld/ Compact Devices
• X-Ray Imaging System
  • Technology
    • Analog X-Ray Imaging Systems
    • Digital X-Ray Imaging Systems
  • Portability
    • Stationary X-Ray Imaging Systems
    • Portable X-Ray Imaging Systems
• Magnetic Resonance Imaging (MRI) Systems
  • Architecture
    • Closed MRI System
    • Open MRI Systems
  • Field Strength
    • Low-To-Mid-Field MRI
    • Very-High-Filed MRI
    • High-Field MRI
    • Ultra-High-Filed MRI
• Nuclear Imaging Systems
  • SPECT Scanners
  • PET Scanners
• Computed Tomography (CT) Scanners
• • Mid-End Slice
  • Low-End Slice
  • High-End Slice Scanners

Regions

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East & Africa

Key Players

• Hitachi Medical Corp.
• Samsung Medison Co. Ltd.
• Hologic, Inc.
• Philips Healthcare
• Siemens Healthcare GmBH
• Carestream Health
• Shimadzu Corp.
• Toshiba Medical Systems Corp.
• Hologic, Inc.
• Esaote S.p.A
• GE Healthcare

Competitive Landscape

Some of the major players competing in the global diagnostic imaging equipment market are Hitachi Medical Corp.; Samsung Medison Co. Ltd.; Hologic, Inc.; Philips Healthcare; Siemens Healthcare GmBH; Carestream Health; Shimadzu Corp.; Toshiba Medical Systems Corp.; Hologic, Inc.; Esaote S.p.A; and GE Healthcare.

Major market players have employed a variety of growth strategies such as new product launches, upgrades & enhancements, partnerships & collaborations, geographical expansions, and acquisitions to expand their product portfolios and maintain a competitive position in the market.

For instance, the ‘Vector CT Scan' was launched in China by GE Healthcare in 2019. At the European Society of Radiology (ECR) in Russia in 2019, Hitachi, Ltd. unveiled three innovative systems, ARIETTA 65, ARIETTA 50, and ARIETTA 50 LE. In 2018, Koninklijke Philips N.V. dominated the diagnostic imaging equipment market due to its advancement in diagnostic imaging, patient monitoring, image-guided therapy, and health informatics. Philips has a strong global presence with 93 manufacturing locations in 25 countries and sales support operations in over 100 countries.