Persistence Market Research has released a report on current and expected growth in the diagnostics imaging market.
Currently the global market is growing at a moderate rate due to an aging population and increasing instances of chronic diseases and injuries. Government imaging initiatives are also on the increase, for example to increase awareness of the effects, and complications of cardiovascular diseases, tuberculosis, and cancer.
Growth is being inhibited by factors such as strict regulatory requirements, and the awareness of an increased risk of cancer from radiation exposure.
According to the report entitled “Global Market Study on Diagnostic Imaging Devices: Asia-Pacific to Witness Highest Growth by 2020,” the global market is expected to grow at a Compound Annual Growth Rate (CAGR) of 5.2% from 2014–2020, and is expected to reach USD 35,793.4 million in 2020, compared to a value of USD 26,477.1 in 2014.
In North America, the diagnostics imaging market is also driven by an aging population, and by increasing awareness of health issues. Other factors include the increase prevalence of chronic diseases, and injuries, research activities, and increased adoption of advanced imaging.
The diagnostic imaging devices market in Europe is being driven by rising diagnostic requirements, also from an increase in chronic diseases and injuries, and an aging population.
In the Asia-Pacific region growth is much higher than in Europe and America in part due to increasing awareness about the importance of early diagnosis, the need for up-to-date healthcare systems, and increasing incidence of chronic diseases.
Persistence Market Research