Diagnostic Imaging Systems Market Top Leading Companies, Product Demands and Industry Outlook by 2024

The X-ray imaging systems category dominated the global market and generated revenue worth $15.2 billion in 2018, which is projected to reach $20.5 billion by 2024, progressing at a CAGR of 5.2% during the forecast period (2019–2024). Besides, the industry witnessed fastest growth in the category of nuclear imaging systems. The growth of this category is mainly driven by increasing prevalence of cancer, and rising demand for these systems across the globe. Furthermore, the market size for ultrasound systems, which stood at $5.9 billion in 2018, is expected to reach $8.3 billion by 2024, witnessing a CAGR of 6.0% during the forecast period.

The governments across the globe are running awareness programs to educate people regarding early diagnosis of chronic diseases, especially breast cancer, lung cancer, cardiovascular diseases, diabetes, arthritis, and tuberculosis. Such initiatives are leading to increase in awareness regarding early diagnosis of diseases among healthcare providers and patients. Diagnostic imaging has helped doctors to diagnose diseases earlier, thereby improving patient outcomes. Diagnostic imaging systems improve healthcare quality and reduce healthcare cost by shortening recovery time and avoiding unnecessary invasive procedures. Such factors are playing pivotal role in the growth of diagnostic imaging systems market.

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Globally, North America and Europe, will together account for over 60% share in the diagnostic imaging systems market by 2024. This can be mainly attributed to the presence of established players, increasing adoption of telemedicine, and increase in prevalence of chronic diseases in these regions.

APAC, LATAM, and MEA also hold considerable shares in the global diagnostic imaging systems market, on account of the technological advancements, surging geriatric population, rising prevalence of chronic diseases, increasing healthcare expenditure, and rising awareness about early detection of diseases in these regions.

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The diagnostic imaging systems market is consolidated in nature; and General Electric Company, Koninklijke Philips N.V., Siemens AG, Canon Medical Systems Corporation, Shimadzu Corporation, Carestream Health Inc., Esaote S.p.A., FUJIFILM Holdings Corporation, Samsung Electronics Co. Ltd., Hologic Inc., and DEL MEDICAL Inc. are some of the major players engaged in the development and commercialization of diagnostic imaging systems.

Other prominent players in the diagnostic imaging systems market include Konica Minolta Inc., Dornier MedTech GmbH, SternMed GmbH, MinFound Medical Systems Co. Ltd., DRGEM CO. LTD., SonoScape Medical Corporation, Analogic Corporation, and Fonar Corporation.