The report “Diagnostic Imaging Market by X-ray Systems (Digital, Analog, Portable), Computed Tomography, Ultrasound Imaging Systems (2D, 3D, 4D, Doppler), MRI Machines (Closed & Open), and Nuclear Imaging Systems (SPECT, PET, PET/CT)] – Global Forecasts to 2018” published by MarketsandMarkets, the market is expected to reach $27.1 Billion by 2018
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This report studies the global Diagnostic Imaging Market over the forecast period of 2013 to 2018. The market is expected to reach $27.1 billion by 2018, at CAGR of 4.7% from 2013 to 2018.
Based on the type of diagnostic system, the global Diagnostic Imaging Market is divided into five segments, namely, X-ray imaging systems, Computed Tomography (CT) systems, ultrasound imaging systems, Magnetic Resonance Imaging (MRI) systems, and Nuclear Imaging systems (comprise SPECT and PET systems). Each of these segments is further sub-segmented. X-ray imaging systems and ultrasound imaging systems are further segmented into market by technology and portability. MRI systems are divided into market by architecture and field strength. The market for CT scanners is divided on the basis of type of slice.
A number of factors such as the increasing application of diagnostic imaging systems, geographic expansion of market players across the globe, and the improving healthcare expenditure in emerging markets are driving the growth of the global Diagnostic Imaging Market. However, factors such as reimbursement cuts, market saturation due to high competition, lack of qualified diagnostic imaging workforce, uncertain reimbursement procedures country-wise are restraining the global Diagnostic Imaging Market. Furthermore, hospital budget cuts in the U.S. and increasing adoption of refurbished devices are major challenges faced by the market.
As of 2013, North America held the largest share of 34% of the global Diagnostic Imaging Market, followed by Europe. However, the Asia-Pacific market is expected to grow at the fastest CAGR of 5.9% from 2013 to 2018. A number of factors such as increasing incidence/prevalence of various diseases (such as cancer and CVD), rising government initiatives for modernization of healthcare infrastructure, improvements in healthcare insurance coverage, and the growing number of ongoing research activities in Asian countries, are boosting the Diagnostic Imaging Market in the Asia-Pacific region.
The major players in the Diagnostic Imaging Market include GE Healthcare (U.K.), Hitachi Medical Corporation (Japan), Hologic, Inc. (U.S.), Philips Healthcare (Netherlands), Samsung Medison (South Korea), Shimadzu Corporation (Japan), Siemens Healthcare (Germany), and Toshiba Medical Systems Corporation (Japan).