Global Diagnostic Imaging Market primarily focuses on creating images of the body, organs, and other internal structures, providing products like X-ray Devices, Computed Tomography, MRI equipment, Ultrasound, and Nuclear Imaging (PET / SPECT) Systems. Nuclear Imaging (PET/SPECT) System is more preferred by patients owing to its property to create three-dimensional images worldwide. Nuclear Imaging provides metabolic and functional information, unlike CT and MRI. It combined with CT and MRI to provide detailed anatomical and metabolic data.
Ultrasound is another product that doctors suggest. Advanced ultrasonic transducers have recently developed, opening up new applications for ultrasound devices in biomedical and cardiovascular imaging. Furthermore, a strong focus on developing portable ultrasound devices projected to broaden the scope of this modality's use in ambulatory and emergency care. According to the publisher, Medical Imaging Market was valued at USD 27.11 Billion in the year 2020.
COVID-19 pandemic Impact on Global Diagnostic Imaging Market
The COVID-19 pandemic, which occurred in the first days of 2020, has had a significant impact on the Global Diagnostic Imaging Market. However, for COVID-19 patients, CT scanners are one of the most important diagnostic tools. The segment is being driven by increased demand for point-of-care CT devices and the development of a high-precision CT scanner through the integration of artificial intelligence and enhanced visualisation systems. As expected, we anticipate a positive recovery post-COVID. As per this research report, Worldwide Diagnostic Imaging Industry will grow with a CAGR of 8.17% during 2020-2026.
Driving Factors and Challenges for the Medical Imaging Industry
Global Diagnostic Imaging Market is driven by factors like growing demand for early disease diagnosis, rapidly rising geriatric population, enlarging scope of clinical applications. In addition to subsequent growth in the prevalence of related diseases, technological advancements in the diagnostic imaging industry, and increasing investments, funds, and grants by public-private organizations. The rapidly growing prevalence of the old population and the subsequent increase in associated disease around the globe made orthopaedics disorder the highest demand for Diagnostic Imaging.
High cost of equipment, increasing regulatory burden and declining reimbursement, limitations associated with standalone systems are some reasons restricting the Global Diagnostic Imaging Market. However, North America has many industry players, and the high frequencies of new product launches within the region are the factors contributing to the regional Diagnostic Imaging Market growth.
This latest report “Diagnostic/Medical Imaging Market Global Forecast by Products (X-ray Devices, Computed Tomography, MRI equipment, Ultrasound, Nuclear Imaging (PET/SPECT) Systems) Application (Orthopedics, Cardiovascular, Neurology, Pelvic & Abdomen, Oncology) End Users (Hospitals, Diagnostics Center & Others) Regions (North America, Europe, Asia -Pacifics, South America, Middle East & Africa) Company (FUJIFILM Visual Sonics Inc., Canon Medical Systems Corporation, Siemens Healthineers, Bruker Corporation, PerkinElmer Inc.)" provides a detailed analysis of Medical Imaging Market.
Products - Market breakup from 5 Viewpoints
1. X-ray Devices
2. Computed Tomography
3. MRI equipment
4. Ultrasound
5. Nuclear Imaging (PET/SPECT) Systems
Application - Market breakup from 5 Viewpoints
1. Orthopedics
2. Cardiovascular
3. Neurology
4. Pelvic & Abdomen
5. Oncology
End Users - Market breakup from 3 Viewpoints
1. Hospital
2. Diagnostics Center
3. Others
Region - Market breakup from 5 Viewpoints
1. North America
2. Europe
3. Asia-Pacific
4. South America
5. Middle East & Africa
All companies have been covered from 3 viewpoints
- Overviews
- Recent Developments
- Revenues
Company Analysis
1. FUJIFILM Visual Sonics Inc.
2. Canon Medical Systems Corporation
3. Siemens Healthineers
4. Bruker Corporation
5. PerkinElmer Inc.
Table of Contents
Companies Mentioned
- FUJIFILM Visual Sonics Inc.
- Canon Medical Systems Corporation
- Siemens Healthineers
- Bruker Corporation
- PerkinElmer Inc.
Methodology
In this report, for analyzing the future trends for the studied market during the forecast period, the publisher has incorporated rigorous statistical and econometric methods, further scrutinized by secondary, primary sources and by in-house experts, supported through their extensive data intelligence repository. The market is studied holistically from both demand and supply-side perspectives. This is carried out to analyze both end-user and producer behavior patterns, in the review period, which affects price, demand and consumption trends. As the study demands to analyze the long-term nature of the market, the identification of factors influencing the market is based on the fundamentality of the study market.
Through secondary and primary researches, which largely include interviews with industry participants, reliable statistics, and regional intelligence, are identified and are transformed to quantitative data through data extraction, and further applied for inferential purposes. The publisher's in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models sanitize the data & statistics and enhance the accuracy of their recommendations and advice.
Primary Research
The primary purpose of this phase is to extract qualitative information regarding the market from the key industry leaders. The primary research efforts include reaching out to participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions. The publisher also established professional corporate relations with various companies that allow us greater flexibility for reaching out to industry participants and commentators for interviews and discussions, fulfilling the following functions:
- Validates and improves the data quality and strengthens research proceeds
- Further develop the analyst team’s market understanding and expertise
- Supplies authentic information about market size, share, growth, and forecast
The researcher's primary research interview and discussion panels are typically composed of the most experienced industry members. These participants include, however, are not limited to:
- Chief executives and VPs of leading corporations specific to the industry
- Product and sales managers or country heads; channel partners and top level distributors; banking, investment, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research
The publisher refers to a broad array of industry sources for their secondary research, which typically includes, however, is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Patent and regulatory databases for understanding of technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic new articles, webcasts, and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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Table Information
Report Attribute | Details |
---|---|
Published | June 2021 |
Forecast Period | 2020 - 2026 |
Estimated Market Value ( USD | $ 27.11 Billion |
Forecasted Market Value ( USD | $ 43.42 Billion |
Compound Annual Growth Rate | 8.1% |
Regions Covered | Global |
No. of Companies Mentioned | 5 |