Diagnostic Imaging Market Global Forecast Report By Product (X-Ray, CT, Ultrasound, Nuclear Imaging, Others), Application (Orthopedics, Cardiovascular, Neurology, Pelvic & Abdomen, Oncology), End User (Hospital, Diagnostic Center, Others), Countries and Company Analysis 2024-2032

Driving Forces for the Diagnostic Imaging Market

Growing Rate of Chronic Illnesses

The market is enlarging due to the rising worldwide burden of chronic diseases and the critical role that medical imaging methods play in providing an accurate diagnosis of these conditions. 2020 saw the reporting of 19.3 million new cancer cases worldwide. By 2040, this figure is predicted to rise to 30.2 million, according to GLOBOCAN. A rise in cancer cases of this magnitude is anticipated throughout the projected period to support market growth. According to data announced by the British Heart Foundation in January 2022, the most prevalent heart conditions worldwide were atrial fibrillation (60 million cases), peripheral arterial (vascular) disease (110 million cases), coronary (ischemic) heart disease (200 million cases), and stroke (100 million cases). The market is expanding because of the widespread occurrence of chronic diseases worldwide.

Incorporating modern technologies

Accuracy, scanning times, patient comfort, and visualization are all enhanced by integrating sophisticated imaging modalities. Furthermore, as technology advances, high-resolution imaging devices are being developed. These technologies provide extensive analysis and higher image quality. For example, high-field MRI systems are being developed as a result of advances in MRI technology; these systems offer sharper, more detailed images for precise diagnosis. Furthermore, 3D and 4D imaging development makes it possible for medical professionals to see intricate anatomical features more precisely. Another important technological innovation is merging imaging modalities, such as PET/CT and SPECT/CT. By combining the advantages of each distinct modality, these hybrid systems improve disease localization, detection, and characterization. For instance, Google Cloud unveiled the Medical Imaging Suite in October 2022 as a new technology to enhance the interoperability and accessibility of radiology and other imaging data.

The expansion of healthcare infrastructure

The market is growing more robust due to the growth of hospitals, clinics, and other healthcare facility construction activities. Diagnostic imaging services are also much more readily available and easily accessible due to the development and modernization of healthcare facilities around the globe. Furthermore, governmental bodies and businesses in the private sector are making significant investments in constructing and renovating clinics, hospitals, and diagnostic centers—all of which come equipped with cutting-edge imaging departments. In addition, the growing number of healthcare facilities drives the requirement for new diagnostic imaging system installation. Additionally, the growth of digital health platforms and telemedicine enables remote diagnostic services.

North America Diagnostic Imaging Market

North America was discovered to own a significant portion of the diagnostic imaging market, and it is anticipated that this tendency will hold throughout the projected period.  This is mostly because improved diagnostic imaging is in great demand, and chronic diseases are becoming more common.

Due to rising technical advancements, increased population affordability, and an increase in the number of diagnostic procedures performed annually, the United States accounts for the most significant portion of the diagnostic imaging industry. The existence of well-established healthcare facilities, the aging population's growing need for sophisticated healthcare systems, and other factors expected to propel market expansion over the forecast period include the prevalence of chronic disorders.

For instance, according to figures stated by the American Cancer Society in 2022, there were 1.9 million fresh instances of cancer diagnosed in the US in that year. Additionally, the rising prevalence of neurological conditions, including brain tumors, is anticipated to fuel market expansion. An estimated 83,750 people in the US were diagnosed with brain and other central nervous system cancers in 2021, according to a 2022 American Cancer Society Journal article.

The market is expected to develop further over the forecast period due to the growing number of product launches. For instance, Fujifilm Healthcare unveiled its innovative, high-field open MRI system, the Velocity MRI system, in December 2021 at the Radiological Society of North America meeting in Chicago

Diagnostic Imaging Company Analysis

The top diagnostic imaging companies are FUJIFILM VisualSonics Inc., Canon Medical Systems Corporation, Bruker Corporation, PerkinElmer Inc., Hitachi, Hologic, Radnet, and Koninklijke Philips.

Diagnostic Imaging Company News

In March 2024, GE Healthcare created SonoSAMTrack1, its most recent research model, with the aid of NVIDIA technology. SonoSAM1, a promotable fundamental model intended for object segmentation in ultrasound imaging, serves as the basis for this novel model.

In January 2024, Canon revealed Aplio Me, a cutting-edge shared-service ultrasound system built to satisfy frequent users' various needs in various medical contexts.

In May 2023, the high-end Philips CT 3500 system, designed to meet the needs of high-volume screening programs and regular radiography, was introduced by Koninklijke Philips N.V.

In February 2023, GE Healthcare announced the acquisition of Caption Health, Inc., a privately held AI healthcare provider. Caption Health employs artificial intelligence (AI) to assist with ultrasound scans and creates clinical apps to identify early disease.

In May 2022, Samsung announced GM85 Fit, a new mobile radiography equipment that has been certified by the FDA, Aiming to broaden its customer base and increase the amount of time its products are sold in the American market.

Product – Market breakup in 5 viewpoints:

1. X-Ray
2. CT
3. Ultrasound
4. Nuclear Imaging
5. Others

Application – Market breakup in 4 viewpoints:

1. Orthopedics
2. Cardiovascular
3. Neurology
4. Pelvic & Abdomen
5. Oncology

End User – Market breakup in 4 viewpoints:

1. Hospital
2. Diagnostic Center
3. Others

Country – Market breakup of 25 Countries:

North America

•    United States
•    Canada

Europe

•    France
•    Germany
•    Italy
•    Spain
•    United Kingdom
•    Belgium
•    Netherlands
•    Turkey

Asia Pacific

•    China
•    Japan
•    India
•    Australia
•    South Korea
•    Thailand
•    Malaysia
•    Indonesia
•    New Zealand
•    Latin America

Brazil

•    Mexico
•    Argentina

Middle East & Africa

•    South Africa
•    Saudi Arabia
•    United Arab Emirates

All the key players have been covered from 4 Viewpoints:

• Business Overview
• Product Portfolio
• Recent Development
• Financial Insight

Key Players Analysis:

1. FUJIFILM VisualSonics Inc.
2. Canon Medical Systems Corporation
3. Bruker Corporation
4. PerkinElmer Inc.
5. Hitachi
6. Hologic
7. Radnet
8. Koninklijke Philips

Report Details: