Diagnostic Imaging Services Market with Worldwide Industry Analysis to 2026
Diagnostic imaging is a process of imaging human body with the help of various imaging services. These services includes several technologies, techniques, and equipments to monitor, diagnose, screen, and treat medical conditions for effective medical intervention. Diagnostic imaging has improved the ability of doctors to treat, diagnose, and detect an injury or disease precisely at an initial stage. In addition, diagnostic imaging services are used to provide information associated with a specific area of the body to be treated or studied. Various advancements in imaging techniques in the field of modern medicine have facilitated the acquisition of information related to the human body for clinical interventions. In addition, advancement in imaging provides physicians with new tools to improve care in innovative ways. Increasing prevalence of chronic diseases across globe and growing demand for its diagnosis has encouraged diagnostic imaging companies to develop new and improve the existing services.
Diagnostic Imaging Services Market: Drivers and Restraints
Increasing geriatric population and prevalence of chronic diseases, rising awareness for early diagnosis of diseases, technological advancement, widening application of diagnostic imaging devices, and increasing funding from government bodies are the factors to fuelling growth of diagnostic imaging services market. However, increased risk of cancer owing to exposure to radiation, high cost of diagnostic procedures, and shortage of helium for magnetic resonance imaging systems are major concerns for the global diagnostic imaging services market.
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Diagnostic Imaging Services Market: Segmentation
The global diagnostic imaging market is segmented based on type of diagnostic imaging and its end use.
Based on diagnostic imaging, the global diagnostic imaging market is segmented into the following:
- X-Ray
- Magnetic Resonance Imaging (MRI)
- Ultrasound
- Radionuclide
Based on end use, the global diagnostic imaging market is segmented into the following:
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Diagnostic Imaging Laboratories
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Diagnostic Imaging Services Market: Market Overview
Research study conducted by WHO indicates that diagnostic imaging, especially, X-ray based examinations is crucial in variety of medical settings. Thus, X-ray segment of the global diagnostic imaging market is expected to have highest market share over the forecasted period. Medical and clinical assessment can be done prior to prescribing the treatment, but diagnostic imaging services supports confirmation and correct assessment of disease in calculating responses to particular treatment. Effective and qualitative diagnostic imaging is important for making medical decisions. Thus, improved health care policy and increasing demand for global diagnostic imaging procedures will drive the global diagnostic imaging services market with significant CAGR over the forecasted period.
Diagnostic Imaging Services Market: Region-wise Outlook
Geographically, the global diagnostic imaging services market is classified into seven key regions namely, North America, Latin America, Western Europe, Eastern Europe, Asia-Pacific Excluding Japan (APEJ), Japan, and Middle East & Africa (MEA). In the geographical perspective, North America is leading market for global diagnostic imaging services owing to rising prevalence of chronic diseases and injuries, and increase in geriatric population in the region. In addition, APEJ is expected to show high growth rate in global diagnostic imaging services market owing to increasing familiarity among patients about several diagnostic procedures. The key driving forces fuelling growth of diagnostic imaging services market in developing countries like India and China are the large pool of patients, increasing awareness about the disease, improving healthcare infrastructure and rising government funding in the countries.
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Diagnostic Imaging Services Market: Key Players
Key companies operational in global diagnostic imaging services market include Siemens Healthcare GmbH, Hitachi, Ltd., Carestream Health, TOSHIBA CORPORATION, Koninklijke Philips N.V., GE Healthcare, Hitachi Medical Corporation, Shimadzu Corporation, Fujifilm Corporation, Esaote SpA, Hologic, Inc. among others.