Diagnostic Imaging Devices Global Market

–Forecast to 2025

Diagnostic Imaging Devices Global Market estimated to be worth $46,481.7

million by 2025

IQ4I Research & Consultancy published a new report on “Diagnostic Imaging Devices
Global Market – Forecast To 2025” This report analyzes and studies the overall market,
major Drivers & Opportunities, Restraints & Threats in North America, Europe, Asia-Pacific
and Rest of the World.

IQ4I’s Report Contains 181 market data tables and 114 figures spread through 533
pages and an exhaustive TOC on “Diagnostic Imaging Devices Global Market”,
[Diagnostic Imaging Products {Computed Tomography Scanners (Stationary CT, Portable
CT), Nuclear Imaging Equipment (SPECT, PET), Magnetic Resonance Imaging Systems
(Open , Closed MRI system), Ultrasound Scanners (Trolley/Cart Based, Compact/Portable),
X-ray Devices (Stationary X-ray Devices, Portable X-ray Devices), Mammography and
Others}, Technology {Computed Tomography Scanners (Low, Medium, High slice CT
scanners), Nuclear Imaging Equipment (SPECT, PET), Magnetic Resonance Imaging Systems
(Low, High, Very high field MRI), Ultrasound Scanners (2D, 3D, 4D, Doppler), X-ray Devices
(Digital, Computed, Analog Radiography), Mammography and Others}, Application
(Cardiovascular, Cancer, Neurology, Abdominal, Orthopedic, Pulmonary, Gynecology,
Dental, Others), End-Users (Hospitals, Private Diagnostic Laboratories, Research
Laboratories), Region (North America, Europe, Asia-Pacific and Rest of the World)]

Diagnostic imaging is a non-invasive method for identifying and monitoring diseases or

injuries by generating the images of internal anatomic structures and organs of the body for
diagnosis purpose. Advances in diagnostic imaging technology has redefined how
physicians diagnose and treat some of the most life threatening diseases such as cancer
and heart disease and they have nearly eliminated the need for exploratory surgery. The use
of diagnostic imaging devices is increasing significantly due to increased demand by patients
and physicians as they provide precise information of disease condition which will help
physicians to treat patients effectively and play an important role in the early diagnosis and
prevention of disease.

The global diagnostic imaging market is expected to grow at a single digit CAGR to reach
$46,481.7 million by 2025. There are many factors involved in driving the growth of the
diagnostic imaging market such as increasing life threatening diseases such as cancer,
cardiovascular, neurological disorders and others requiring early and accurate diagnosis,
growing research activities across globe and establishment of private diagnostic centres
offering diagnostic imaging services. However, high cost and maintenance of devices, the
risk of the radiation exposure, lack of skilled personnel, shortage of technetium 99m for

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Diagnostic Imaging Devices Global Market

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SPECT systems and helium for MRI systems, reimbursement cuts and stringent regulatory
guidelines are some of the factors hampering the diagnostic imaging devices market.

The diagnostic imaging devices global market by products is segmented into X-ray systems,
Computed Tomography (CT) Scanners, Magnetic Resonance Imaging (MRI) systems,
Ultrasound systems, Nuclear imaging systems and Mammography and other systems.
Among the products, X-ray devices hold the highest share in 2018 and expected to grow at a
mid single digit CAGR from 2018 to 2025 due to emergence of advanced technologies and
primarily due to its applications which includes usage in accidents, trauma, common
applications, orthopaedics and others. Among the products with respect to fastest growing
segment, mammography and others held the high single digit CAGR from 2018 to 2025.

Among the various diagnostic imaging related application, cancer segment holds the highest
share in 2018 and expected to grow at a high single digit CAGR from 2018 to 2025 due to
rise in cancer incidence, urge for the advanced imaging modalities for early diagnosis of
lung, liver, throat and other cancers, rising incidence in breast cancer detection and
treatment by the patients which are driving the market growth.

Among the various diagnostic imaging related end-users, hospitals segment holds the
highest share in 2018 and expected to grow at a mid single digit CAGR from 2018 to 2025
due to increasing in infrastructure of the hospital setup, government fund allocation, increase
in the number of installed units of diagnostic imaging modalities, Improved patient safety and
clinical outcomes and reducing diagnosis error drives the end users market. The private
diagnostic centres segment is expected to grow with a mid single digit CAGR from 2018 to
2025.

The diagnostic imaging devices global market based on geography is divided into North
America, Europe, Asia-Pacific and Rest of the world. North American region commanded the
largest revenue in 2018 and expected to grow at a mid single digit CAGR from 2018 to 2025.
Increasing growth in aging population with life threatening diseases and significant increase
in diagnostic centers in U.S. has led the market growth in this region. However, Asia-Pacific
is expected to grow at a high single digit CAGR from 2018 to 2025, owing to the rapidly
increasing aging population and rise in healthcare awareness in the emerging countries,
such as India and China.

Availability of advanced products and with technological innovations occurring at a rapid

pace in the diagnostic imaging market, patients prefer to employ treatments which have

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–Forecast to 2025

more success rates, lower risk of complications and lesser turnaround time. For instance,
Clarius Mobile Health introduced new advanced features for its C3 and L7 wireless that
provides quick scans of heart, abdomen and lungs. These handheld ultrasound scanners
sends wireless data to most iOS or android smart devices and gives clinicians the availability
to perform quick scans anywhere providing efficient and accurate diagnosis. Also there is an
increase in innovation with respect to the PET/CT, SPECT/CT, PET/MRI hybrid imaging
systems, shift from stationary to portable CT systems, availability of high resolution and high
slice CT systems and imaging devices with low dose of radiations.

Companies such as GE Healthcare, Siemens Healthcare, Philips N.V, Canon Medical

Systems and Fujifilm Holdings Corporation are ahead of other companies are considered to
be leaders in this space with their marketed products and strong pipe liners due to their
strong patented portfolio, geographical presence, developing differentiated advanced and
innovative technology, new product launches and improved sales network. GE Healthcare is
a leader in diagnostic imaging devices market and holds the highest market share. The
company’s core strength is its Revolution CT systems, Senographe Mammography systems,
SIGNA and DISCOVERY MRI systems, Optima X-ray systems, LOGIQ and Vivid ultrasound
systems which provide advanced imaging technology and is applicable in fields such as
cardiology, oncology, women’s health, neurology, orthopaedics and abdominal related
disorders. Followed by Siemens Healthcare is a leader in diagnostic imaging devices market
and holds the second highest market share. Siemens’s core strength is its Magnetom MRI
systems, Somatom CT systems, ACUSON ultrasound systems, Symbia MI systems,
Mammomat mammography systems.

The dominant players are using new product launches, approvals, agreements and
partnerships as their core strategy to strengthen their position in the market. For instance, in
May 2018 Siemens Healthineers and ScreenPoint Medical entered into partnership to
develop artificial intelligence based applications for breast imaging. With this partnership the
precision medicine is expanded by providing automated clinical decision support that makes
it easier and faster to distinguish between healthy and tumor tissue, thus increasing
diagnostic accuracy.

The diagnostic imaging devices global market is a consolidated with top five players
occupying majority of the market share. The existing players in this market are involved in
developing new advanced products and getting approvals to maintain their market shares.
For instance, in March 2018 Hologic, Inc. received FDA approval for Clarity HD high-

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resolution 3D imaging and Intelligent 2D imaging technology on the 3Dimensions breast

tomosynthesis system. With these innovations, the system now provides higher resolution
3D images for radiologists, enhanced workflow for technologists, and a more comfortable
mammography experience, with low-dose options, for patients.

Major players in the diagnostic imaging devices global market are Carestream Health, Inc.
(U.S.), GE Healthcare (U.S.), Siemens Healthcare (Germany), Philips N.V (Netherlands),
Hitachi Medical Corporation (Japan), Hologic, Inc. (U.S.), Shimadzu Corporation (Japan),
Canon Medical Systems Corporation (Japan), Fujifilm Holdings Corporation (Japan) and
Shenzhen Mindray Bio-Medical Electronics (China).

Dx Ray Inc., (U.S ), Fonar Corporation (U.S), Aurora Imaging Technologies (U.S), Fujikin
Incorporated (Japan), Ultraview Ltd (Israel), BioMediCom (Israel), Rimimed (Israel), Konica
Minolta (Japan), ViewSend ICT Co., Ltd (Japan), Esaote (Italy), Analogic Corporation (U.S.)
are some of the emerging players in the diagnostic imaging devices market.

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Diagnostic Imaging Devices Global Market

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Reasons for buying this report:

 Diagnostic imaging devices global market is expected to reach $46,481.7 million by

2025 at a CAGR of 5.4%.
 Identification and analysis of the diagnostic imaging devices market by identifying
various segments by product, technology, application, end-users and geography.
 Revenue forecast of diagnostic imaging devices market and strategic analysis of
each sub-segment with respect to segmental growth trends.
 Identification of major market trends, Porter's model, and factors driving and
restraining diagnostic imaging devices market growth.
 Average selling price (ASP), overall market share, number of installed units global,
country and company wise, each modality wise market share analysis and modality
wise applications market.
 Analysis of refurbished diagnostic imaging devices global market.
 Revenue forecast of the diagnostic imaging devices market with respect to North
America (U.S., Rest of North America), Europe (Germany, France, U.K., Rest of
Europe), Asia-pacific (Japan, China, Australia, Rest of Asia-Pacific) and Rest of the
World (Brazil, Rest of Latin America, Middle East and Others).
 Analysis of the opportunities for stakeholders by identifying the high-growth
segments of the market.
 Identification of key technology developments and innovations driving the market.
 Analysis of the market share, patent and supply chain of the diagnostic imaging
devices market by major players.
 Profiles of major players in diagnostic imaging devices market and analysis of their
product offerings, financial revenue, business strategies, SWOTs and market shares.

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Diagnostic Imaging Devices Global Market

–Forecast to 2025

FIGURE 1

DIAGNOSTIC IMAGING DEVICES GLOBAL MARKET SEGMENTATION

Diagnostic Imaging Devices Global

Market

Product Technology Application End-User

CT CT Cardiovascular Hospitals

Diagnostic
Cancer
NI NI Labs
Research
Neurology
MRI MRI Labs

Abdominal
Ultrasound Ultrasound
Orthopedic
X-Ray X-Ray
Pulmonary
Mammography Mammography
and Others and Others Gynecology

Dental

Others

Source: International Society for Computed Tomography, National Institute of Biomedical Imaging and
Bioengineering, International Society of Magnetic Resonance (ISMAR), Society of Radiologists in Ultrasound
(SRU), American Board of Radiology (ABR), Society of Breast Imaging (SBI), Other Country Associations and
Groups, Industrial Experts and IQ4I Analysis.

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