Diagnostic Imaging Market Outlook
The global diagnostic imaging market was valued at USD 47,132.7 Million in 2019 and is projected to reach USD 76,355.9 Million by 2027, expanding at a CAGR of 6.6% during the forecast period. Diagnostic imaging is the process of obtaining visual representations of the interior of a body for diagnostic and therapeutic reasons using various imaging modalities.
Diagnostic imaging has transformed from bedside monitoring to high-end digital scanning globally. Thus, the market is projected to expand at a rapid pace between the forecast period 2020 and 2027.
Diagnostic Imaging Market Dynamics
The growth of the diagnostic imaging market is expected to be boosted by technological advancements in diagnostic imaging devices, rising incidences of chronic diseases coupled with a rapidly aging population, increasing number of medical imaging procedures, and rising awareness for early diagnosis of clinical disorders.
Furthermore, market growth in developing regions such as Asia Pacific and Latin America is projected to propel at a rapid pace, owing to rising healthcare expenditure and increasing investments in healthcare infrastructure during the forecast period.
Large undiagnosed patient populations, fast urbanization, rising disposable income, enhanced government support for chronic conditions, and growing knowledge about early disease identification are other factors contributing to the unprecedented growth of the market.
Acceptance of these high-cost medical imaging systems in countries such as India and China hinder the market growth for leading innovators in the diagnostic imaging market. Lack of helium, high cost of imaging modalities, and negative reimbursement situation in emerging nations are expected to hamper the diagnostic imaging market expansion.
Diagnostic Imaging Market Segmental Outlook
By Products Segment
Based on products, the diagnostic imaging market is broadly segmented into six segments, namely, X-ray imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems, and mammography systems.
The X-ray imaging systems segment held a major share of the global diagnostic imaging market in 2019. Growing demand for early and reliable diagnosis, widespread use of X-ray equipment by hospitals and diagnostic centres around the world, and technological advancements are factors contributing to the significant share of this segment.
By Applications Segment
Based on applications, the diagnostic imaging market is segmented into MRI systems, ultrasound systems, X-ray imaging systems, CT scanners, nuclear imaging systems, and mammography systems. Among the applications, significant share in 2019 was accounted by brain & neurological MRI under MRI systems, radiology/general imaging under ultrasound systems, general radiography applications under X-ray imaging systems, cardiology under CT scanners, and oncology under nuclear imaging systems.
By End-users Segment
Based on end-users, the diagnostic imaging market is segmented into hospitals, diagnostic imaging centres, and other end-users. In 2019, the hospitals segment accounted for a major share of the diagnostic imaging market.
Rising number of diagnostic imaging procedures performed in hospitals, increasing inclination of hospitals toward automation and digitization of radiology patient workflow, growing adoption of minimally invasive procedures (including diagnostic imaging systems) by hospitals to improve the quality of patient care, and rising adoption of telemedicine are attributed to the significant share of this segment.

Diagnostic Imaging Market Region-wise Outlook
Based on regions, the global diagnostic imaging market is fragmented into North America, Europe, Latin America, and Middle East & Africa. North America is estimated to hold a considerable proportion of the diagnostic imaging market and is projected to follow a similar pattern during the forecast period with few variations.
The US holds a significant proportion of the diagnostic imaging market, owing to rising technical advancements, high population affordability, and an annual increase in the number of diagnostic operations. The field of MRI diagnostics is expanding, both in terms of the number of scanners installed and the number of scans performed. According to OECD data, the US is one of the key countries in terms of availability and utilisation of diagnostic imaging followed by Japan.
The market is projected to expand during the forecast period, owing to the presence of well-established healthcare facilities, rising demand for improved healthcare systems among the ageing population, and rising prevalence of chronic diseases.
Key Benefits for Industry Participants & Stakeholders
- In-depth Analysis of the Global Diagnostic Imaging Market
- Historical, Current and Projected Market Size in terms of Value
- Potential & Niche Segments and Regions Exhibiting Promising Growth Covered
- Industry Drivers, Restraints and Opportunities Covered in the Study
- Recent Industry Trends and Developments
- Competitive Landscape & Strategies of Key Players
- Neutral Perspective on Global Diagnostic Imaging Market Performance
Segments
By Products
- MRI Systems
- By Architecture
- Closed MRI Systems
- Open MRI Systems
- By Field Strength
- High and Very-High Field MRI Systems
- Low-To-Mid-Field Systems
- Ultra-High-Field Systems
- Ultrasound Imaging Systems
- By Technologies
- 2D Ultrasound
- 3D and 4D Ultrasound
- Doppler Ultrasound
- By Portability
- Trolley/Cart-Based Ultrasound Systems
- Compact/Portable Ultrasound Systems
- CT Scanners
- Conventional CT Scanners
- High-Slice CT Scanners
- Mid-Slice CT Scanners
- Low-Slice CT Scanners
- Cone Beam CT Scanners
- Nuclear Imaging Systems
- Spect Systems
- Hybrid Spect Systems
- Standalone Spect Systems
- Hybrid PET Systems
- X-Ray Imaging Systems
- By Types
- Digital X-Ray Imaging Systems
- Direct Radiography Systems
- Computed Radiography Systems
- Analog X-Ray Imaging Systems
- By Portability
- Stationary Systems
- Portable Systems
- Mammography Systems
By Applications
- X-Ray Imaging Systems
- General Radiography
- Dental
- Fluoroscopy
- MRI Systems
- Brain & Neurological MRI
- Spine & Musculoskeletal MRI
- Vascular MRI
- Pelvic & Abdominal MRI
- Breast MRI
- Cardiac MRI
- Ultrasound Systems
- Radiology/General Imaging
- Obstetrics/Gynaecology (OB/GYN)
- Cardiology
- Vascular
- Urology
- Other Applications
- CT Scanners
- Cardiology
- Oncology
- Neurology
- Other Applications
- Nuclear Imaging Systems
- Cardiology
- Oncology
- Neurology
- Other Applications
- Mammography Systems
By End-users
- Hospitals
- Diagnostic Imaging Centers
- Other End-users
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Key Players
- Bruker
- CANON MEDICAL SYSTEMS CORPORATION
- Carestream Health
- Cubresa Inc.
- ESAOTE SPA
- FUJIFILM Visualsonics, Inc.
- GENERAL ELECTRIC COMPANY
- Hitachi Healthcare Americas
- Koninklijke Philips N.V.
- Mediso Ltd.
- MILabs B.V.
- MR Solutions
- PerkinElmer Inc.
- Shimadzu Corporation
- Siemens Healthineers AG
Competitive Landscape
Key players in the market include Bruker, CANON MEDICAL SYSTEMS CORPORATION, Carestream Health, Cubresa Inc., ESAOTE SPA, FUJIFILM Visualsonics, Inc., GENERAL ELECTRIC COMPANY, Hitachi Healthcare Americas, Koninklijke Philips N.V., Mediso Ltd., MILabs B.V., MR Solutions, PerkinElmer Inc., Shimadzu Corporation, and Siemens Healthineers AG.
These players are considered as key manufacturers of the market based on different varieties of products, product availability, regional presence, efficient supply chain management system, and increasing demand for the products. Players are adopting key strategies such as product development, geographical expansion, mergers and acquisitions, and many other strategies to increase the demand for global diagnostic imaging market.
