We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies. Cookie Policy.

Features Partner Sites Information LinkXpress
Sign In
Advertise with Us

Download Mobile App




Events

ATTENTION: Due to the COVID-19 PANDEMIC, many events are being rescheduled for a later date, converted into virtual venues, or altogether cancelled. Please check with the event organizer or website prior to planning for any forthcoming event.

Global Diagnostic Imaging Market to Surpass USD 33 Billion by 2026

By MedImaging International staff writers
Posted on 22 Apr 2022
Print article
Image: Global diagnostic imaging market is driven by technological advancements (Photo courtesy of Pexels)
Image: Global diagnostic imaging market is driven by technological advancements (Photo courtesy of Pexels)

The global diagnostic imaging market is one of the most critical segments of the healthcare sector. Medical imaging helps in early detection and diagnosis of diseases at a stage when they can be easily treated and of late has been assuming even greater importance as world healthcare focuses on preventative care. Better diagnosis has a direct and a positive impact on therapy procedures and treatment planning. The global diagnostic imaging market is projected to grow at a CAGR of 4.9% from an estimated USD 27.5 billion in 2022 to over USD 33 billion by 2026, driven by technological advancements, favorable demographic factors in the developed regions, growing access to healthcare and rising income levels of the middle class population in the developing regions.

These are the latest findings of Global Industry Analysts Inc. (San Jose, CA, USA), a market research company.

The growth of the global diagnostic imaging market is being fueled by the increasing incidence of chronic diseases, rising awareness about benefits of early diagnosis, and constant expansion of clinical applications. Increasing cost efficiency and reliability of various imaging procedures, as well as continued focus on developing advanced imaging procedures, involving higher resolution and dimensions, are the major factors driving the growth of the diagnostic imaging market. The market growth can also be attributed to advancements in the functional imaging segment, coupled with healthcare reforms undertaken the world over. A growing elderly population across the world will also act as a major growth driver of the diagnostic imaging market.

Based on products, the MRI diagnostic imaging segment is expected to dominate the diagnostic imaging market with the largest share over the forecast period. MRI is a popular imaging technique that utilizes a mix of radio waves and magnetic fields for imaging purposes. Besides being a non-invasive technique, MRI is unique due to its ability to identify soft tissues. Growing clinical acceptance of MRI technology over the years has enabled imaging of areas that were earlier considered impossible, such as vascular, cardiac, true dynamic imaging or high spatial resolution. The emphasis has also shifted onto reducing acquisition times associated with the technology, which has boosted the development of improved coil designs and new sequences, and fostered advancements in the hardware sector. As a result, new markets and applications are being constantly developed for this modality.

Geographically, the US is the largest regional market for diagnostic imaging and is projected to reach close to USD 10 billion by 2026. The US dominates the global diagnostic imaging market in terms of market share, due to the presence of leading companies and continuous inflow of advanced products into the market. The US is known for its notably high per person healthcare expenditure, thus providing significant scope for market expansion.

The growth of the Asia-Pacific diagnostic imaging market is anticipated to be driven by government initiatives, adequate reimbursement, rising insurance coverage and growth of the medical tourism industry. The market growth is expected to be the highest in the region’s developing nations, such as China and India, where there is increased emphasis on healthcare, along with growing government spending on improving healthcare units. China is expected to spearhead the growth of the Asia-Pacific diagnostic imaging market and emerge as the fastest growing regional market with a CAGR of 7.1% over the forecast period. Japan accounts for a major share of the diagnostic imaging market in Asia-Pacific owing to technological advancements and the presence of leading companies in the country. Japan is benefitting from the strong contribution from ultrasound and X-ray, which are the primary market segments in terms of sales revenue. On the other hand, India and China represent the fastest growing markets in Asia-Pacific due to favorable reimbursement policies related to diagnostic imaging, increasing government funding and rising investment by private and public hospitals in diagnostic imaging systems.

Related Links:
Global Industry Analysts Inc. 

Gold Supplier
Ultrasound Transducer/Probe Cleaner
Transeptic Cleaning Solution
New
Fixed X-Ray System
MX Series
New
Medical Software
Bladder Scanner Graphics Workstation Software
New
Mobile X-Ray Protective Shield
WD306

Print article
Radcal

Channels

MRI

view channel
Image: MRI scan showing the fetus and placental compartments (Photo courtesy of WUSTL)

New MRI Method Automatically Detects Placental Health during Pregnancy

Early monitoring of the placenta can improve detection and prevention of pregnancy complications, such as preterm birth, fetal growth disorders and preeclampsia. Currently, standard MRI analysis methods... Read more

Ultrasound

view channel
Image: The new Clarius MSK AI model speeds up diagnosis and treatment of musculoskeletal injuries (Photo courtesy of Clarius)

Handheld MSK Ultrasound Scanner Uses AI to Automatically Identify and Measure Tendons in Foot, Ankle and Knee

An artificial intelligence (AI) application for musculoskeletal (MSK) imaging that works with handheld point-of-care ultrasound devices automatically identifies, highlights, and measures tendon structures... Read more

Nuclear Medicine

view channel
Image: Tracking radiation treatment in real time promises safer, more effective cancer therapy (Photo courtesy of Pexels)

Real-Time 3D Imaging Provides First-of-Its-Kind View of X-Rays Hitting Inside Body During Radiation Therapy

Radiation is used in treatment for hundreds of thousands of cancer patients each year, bombarding an area of the body with high energy waves and particles, usually X-rays. The radiation can kill cancer... Read more

General/Advanced Imaging

view channel
Image: CZT gamma detector for SPECT imaging (Photo courtesy of Kromek)

Low-Dose Molecular Breast Imaging (MBI) Could Improve Cancer Detection in Dense Breast Tissue

Traditional mammography is often less able to clearly image tumors due to the density of the breast tissue. Molecular breast imaging (MBI) technology uses a radioactive tracer that ‘lights up’ areas of... Read more

Imaging IT

view channel
Image: The new Medical Imaging Suite makes healthcare imaging data more accessible, interoperable and useful (Photo courtesy of Google Cloud)

New Google Cloud Medical Imaging Suite Makes Imaging Healthcare Data More Accessible

Medical imaging is a critical tool used to diagnose patients, and there are billions of medical images scanned globally each year. Imaging data accounts for about 90% of all healthcare data1 and, until... Read more
Copyright © 2000-2023 Globetech Media. All rights reserved.