Diagnostic Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2020 - 2030

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Diagnostic Imaging Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts 2020 - 2030

Status : December, 2022 | Medical Devices

Report Digest

The COVID-19 pandemic has emphatically and adversely affected the market. Adverse consequences incorporate seriously limited purchasing limit of hospitals, particularly limited scope hospitals and imaging focuses. The pandemic has additionally affected the activity of assembling companies. Companies are working with a limited labor force This load of variables are adversely affecting the assembling and production network of diagnostic imaging systems. Given that hospitals needed to let loose limit and assets for potential COVID-19 emergencies, the quantity of normal and elective methods seriously diminished. The market for diagnostic imaging is in this manner adversely influenced by the pandemic.

Global Diagnostic Imaging Market – Notable Developments

  • In 2021, Koninklijke Philips N.V. (Netherlands) launched the spectral detector-based Spectral Computed Tomography (CT) 7500 solution for precision diagnosis.
  • In 2021, GE Healthcare (US launched Venue Fit, a streamlined and compact POCUS system, alongside an industry-first AI offering for cardiology.
  • In 2021, Siemens Healthineers (Germany), received FDA clearance for the Biograph Vision Quadra, a PET/CT scanner for clinical use and translational research

Global Diagnostic Imaging Market – Drivers and Restraints

The danger of creating diseases increases proportionately with age. As per the Centers for Disease Control and Prevention (CDC), almost 80% of the elderly in the US experience the ill effects of somewhere around one constant condition. Likewise, the American Medical Association (AMA) gauges that essentially 60% of people aged 65 or more will be living with more than one ongoing condition by 2030. This increase in the maturing populace will drive the interest for further developed medical care offices and progressed therapy choices and medicine. With the fast development in the geriatric populace worldwide, the pervasiveness of age-associated diseases like Alzheimer's disease, Parkinson's disease, joint pain, and dementia, alongside CVDs and cancer, is relied upon to increase. Such developments are helping to drive the diagnostic imaging market.

Technological limitations associated with standalone imaging modalities deter researchers from purchasing them, negatively affecting their market growth. For instance, MRI takes longer to scan large volumes or high-resolution images, whereas PET has a lower spatial resolution. Ultrasound systems are heavily operator-dependent, require direct contact with the body, and have limited tissue depth penetration. SPECT has low detection sensitivity, and CT has poor soft-tissue contrast, providing less information about functional characteristics, and carries the risk of radiation exposure for both physicians and patients

Global Diagnostic Imaging Market – Geographical Outlook

Based on the regional segmentation, the global diagnostic imaging market can be segmented into five key regions. These key regions are North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. Of these, currently, the global market is being led by the regional segment of North America. The growth of the regional segment can be attributed to the presence of a highly developed and matured healthcare infrastructure. In addition to this, presence of key players operating in the region has also helped the overall development of global diagnostic imaging market in North America.

On the other hand, the regional segment of Asia Pacific is expected to witness promising growth opportunities in the coming years of the forecast period ranging from 2020 to 2030. The growth of the region can be attributed to the increasing investments directed towards the infrastructure development of the healthcare segment. In addition to this, more activities and funding for research and development activities are also likely to help the development of diagnostic imaging market in the Asia Pacific region. 

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5-Point Growth Formula

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The 5-point growth formula includes the following points:

  • Current and Future Threats
  • Accurate Trend Analysis
  • Regional Assessment
  • Industrial Analogy
  • COVID-19 Impact

Current and Future Threats

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Accurate Trend Analysis

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Regional Assessment

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Industrial Analogy

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COVID-19 Impact

The COVID-19 outbreak has changed the growth projections of numerous sectors and businesses. The analysts at TMR Research have conducted a conscientious survey on the markets after the pandemic struck. The analysts have put forth their brilliant and well-researched opinions in the report. The opinions will help the stakeholders to plan their strategy accordingly.

The reports offer answers to the top 7 questions that revolve around the growth of the market

  • What are the diverse growth parameters influencing the market?
  • Which regions will contribute largely to the growth of the market
  • What are the recent innovations and technological advancements in the market?
  • What are the emerging trends across the market?
  • How has COVID-19 affected the market?
  • What will be the post-pandemic scenario of the market?
  • What are the major threats that will dent the growth prospects of the market?