Diagnostic Imaging Market by Product

Diagnostic Imaging Market by Product

“The global diagnostic imaging market is estimated to grow at a CAGR of 6.2% from 2015 to 2020. Although the mature market such as North America and Europe hold larger share in diagnostic imaging market, the Asia-Pacific region is expected to grow at the highest CAGR of 7.2%. The growth of the diagnostic imaging market is primarily triggered by factors such as the increasing aging population, improving healthcare facilitates in emerging countries of Asia-Pacific and RoW region, geographic expansion of market players, and the government initiatives to fulfill healthcare needs. However, factors such as high cost of diagnostic imaging systems, growing preference of hospitals towards refurbished devices due to budget constraints, and reimbursement cuts in mature regions are restraining the growth of the diagnostic imaging market. Growing public-private investments by market players in the emerging regions of Asia-Pacific and RoW are creating opportunities for the growth of diagnostic imaging market in these regions.

Based on the type of modalities, the global diagnostic market is categorized into five segments, namely, X-ray Imaging Systems, Computed Tomography (CT) Systems, Ultrasound Systems, Magnetic Resonance Imaging (MRI) Systems, and Nuclear Imaging Systems. Each modality is further divided into subsegments. The X-ray and ultrasound systems market is divided on the basis of technology and portability; whereas, CT systems are divided on the type of slice. MRI systems are divided on the basis of type of architecture and field strength. The nuclear imaging systems market is categorized into SPECT and hybrid PET systems, which are further divided into standalone and hybrid modalities.

The X-ray imaging system is expected to hold the largest share of the global diagnostic imaging market in the forecast period. Factors such as the increasing number of new product launches by market players to strengthen their product portfolio and strategic collaborations to...

Similar Essays