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Diagnostic imaging is a noninvasive diagnosis and treatment of some of the most life threatening diseases such as cancer and heart diseases and they have nearly eliminated the need for exploratory surgery. It is identified as one of the largest markets among the healthcare sector. Imaging techniques would allow diagnosing, treating and curing patients without causing any harmful side effects. The different diagnostic imaging modalities include Xray systems, Computed Tomography CT Scanners, Magnetic Resonance Imaging MRI systems, Ultrasound systems and Nuclear imaging systems. According to IQ4I estimates, the diagnostic imaging global market is expected to reach $38,315 million by 2022.
Globally Diagnostic imaging technologies market is segmented into product outlook, technology outlook, applications and endusers. Product outlook is further segmented into Computed Tomography CT scanners, Nuclear Imaging NI equipment, Magnetic Resonance Imaging MRI systems, Ultrasound scanners and Xray devices and others. Technology outlook is also alienated again into Computed Tomography CT, Nuclear Imaging NI, Magnetic Resonance Imaging MRI, Ultrasound, xray and others. Application outlook is classified into Cardiovascular Diseases CVD's, Cancer, Neurological disorders, abdominal related problems, Orthopedic related problems, gynecology related problems and others. Depending on the endusers, the market is segmented into hospitals, private diagnostic laboratories and research laboratories.
Globally among the diagnostic imaging techniques, ultrasound is the most frequently used imaging procedure with more than 900 million exams per year followed by Xray, CT, MRI, and nuclear medicine. This indicates that diagnostic imaging market contributes to its highest share among all imaging techniques.
This report studies the Diagnostic imaging technologies global market over the forecast period 20162022. The market is expected to grow at a mid single digit CAGR from 2015 to 2022. Increasing incidence of life threatening diseases with growth of aged cohort, growing awareness among people about early disease diagnosis and improving healthcare expenditure in emerging markets, high number of ongoing research activities across the globe are the factors driving the market growth. High cost of diagnostic imaging systems, imposition of excise tax on sale of medical devices and risk of radiation exposure limiting the usage of some diagnostic imaging systems are the factors hampering the market growth.
North America holds the largest share in the global diagnostic imaging market, followed by Europe. However, the AsiaPacific market is expected to grow at the highest CAGR of 5.8% from 2015 to 2022. The Asian and Latin American countries represent the fastest growing markets due to increasing government support for research and rising industry and academic partnerships for preclinical research. But still the factors such as economic slowdown, pricing pressures may compel the companies to focus on Asian markets.
The top key market players in the global diagnostic imaging market are Analogic Corporation U.S., GE Healthcare U.K, Philips Healthcare Netherland, Siemens Healthcare U.S., Toshiba Medical Systems Corporation Japan, Hitachi Medical Corporation Japan, Carestream Health, Inc. U.S., Hologic, Inc. U.S., Samsung Medison South Korea and Shimadzu Corporation Japan. Among them GE Healthcare U.K. holds the leadership position in the global market by launching many new products into the market.
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