Global demand for diagnostic imaging services market was valued at approximately USD 516.7 billion in 2018, and is expected to generate revenue of around USD 730.6 billion by end of 2025, growing at a CAGR of around 5.2% between 2019 and 2025.
The report covers forecast and analysis for the diagnostic imaging services market on a global and regional level. The study provides historic data from 2016 along with a forecast from 2019 to 2025 based on revenue (USD Billion). The study includes drivers and restraints for the diagnostic imaging services market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the diagnostic imaging services market on a global as well as regional level.
In order to give the users of this report a comprehensive view on the diagnostic imaging services market we have included competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein Modality and services segment is benchmarked based on their market size, growth rate and general attractiveness.
The report provides company market share analysis in order to give a broader overview of the key players in the diagnostic imaging services market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new Modality launch, agreements, partnerships, collaborations & joint ventures, research & development, regional expansion of major participants involved in the diagnostic imaging services market on global and regional basis.
According to the report, global demand for diagnostic imaging services market was valued at approximately USD 516.7 billion in 2018, and is expected to generate revenue of around USD 730.6 billion by end of 2025, growing at a CAGR of around 5.2% between 2019 and 2025.
Medical imaging can be defined as process and technique used for the creation of visual representations of the inside of the body for diagnosis and subsequent treatment. Medical imaging is used to disclose internal assemblies concealed by skin and bones. Medical imaging also plays an important role in follow-up of the medical conditions that have already been diagnosed or treated.
Factors such as increasing prevalence of cancer, growing geriatric population, increasing awareness regarding early diagnosis of diseases, broadening scope of medical applications, growing demand for advanced diagnostic techniques, and increasing healthcare expenditure in developing regions will act as major driving factors in the growth of global diagnostic imaging services market. Technological improvements in the field of medical imaging and growing awareness will present an opportunity for the market players in the diagnostic imaging services market. Nonetheless, high cost of medical imaging systems, lack of skilled diagnosticians, and unfavorable reimbursement scenario in developing regions will restrict the growth of global diagnostic imaging services market.
The global diagnostic imaging services market has been split into modality, application, end user, and region. Based on modality, diagnostic imaging services market has been segmented into magnetic resonance imaging (MRI), ultrasound, x-ray imaging, mammography, computed tomography (CT), and nuclear imaging. The x-ray imaging segment accounted for the highest market share in 2018 owing to rapidly increasing geriatric population. The application segment has been divided into gynecology, cardiology, musculoskeletal & orthopedics, general imaging, neurology, and oncology. The oncology segment accounted for the highest market share in 2018 owing to high incidence of cancer. The end user segment has been divided into diagnostic centers, hospitals, academia & research, and ambulatory care centers. The hospitals segment accounted for the highest market share in 2018 due to presence of latest medical imaging infrastructure in hospitals.
North America will be the leading region during the forecast period. U.S. accounted for the highest share in the North America region due to presence of latest medical imaging infrastructure and increasing geriatric population. Europe is likely to be the succeeding key market. The crucial reasons are presence of skilled medical professionals and positive reimbursement scenario. Asia Pacific will develop at the highest growth rate owing to high incidence of cancer, technological improvements in the field of medical imaging, and initiatives taken by governments to create awareness regarding early diagnosis of diseases. Latin America region will propagate at a noteworthy rate through the assessment time. Middle East & Africa will show positive advancement in the projected time-frame.
The report also includes detailed profiles of key players such as Hitachi, Ltd., Siemens Healthcare GmbH, Fujifilm Corporation, Carestream Health, Koninklijke Philips N.V., Hologic, Inc., Carestream Health, TOSHIBA CORPORATION, GE Healthcare, Shimadzu Corporation, and Esaote SpA among others.
This report segments the Global Diagnostic Imaging Services Market as follows:
Global Diagnostic Imaging Services Market: By Modality
Global Diagnostic Imaging Services Market: By Application
Global Diagnostic Imaging Services Market: By End User
Global Diagnostic Imaging Services Market: By Region