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Diagnostic imaging market is estimated to grow at a steady CAGR of more than 5% from 2014 to 2020 to reach a market size of more than $35 billion by the end of 2020. Some of the major factors such as increasing applications of diagnostic procedures, growing awareness about early disease diagnosis among people in the emerging markets, high incidence/prevalence of diseases such as cancer, cardiovascular and neurological disorders, favorable investments in emerging markets, and the increasing research activities across the globe are boosting the market growth. However, the high cost of diagnostic imaging systems, risk of radiation exposure, and meager healthcare insurance coverage for diagnostic procedures, shortage of helium for MRI systems, and saturated markets are hindering the market growth.
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In this report the diagnostic imaging technologies market is segmented by various modalities such as Computed Tomography (CT) scanners, Nuclear Imaging (NI) equipment, Magnetic Resonance Imaging (MRI) systems, Ultrasound scanners and X-ray devices. X-ray devices segment commanded the largest share in 2013 and is expected to grow strong from 2014 to 2020. Among the diagnostic imaging techniques, X-ray is the most widely used modality with more than 100 million X-ray exams per year followed by MRI, PET, SPECT, CT and nuclear medicine. However the CT scan systems market is expected to register the highest CAGR during the forecast period. The growth is mainly attributed to rising geriatric global population base, increasing incidence rates of target diseases such as cardiovascular diseases, cancer, tuberculosis and oral diseases.
Depending on the applications the market is segmented into...