Diagnostic Imaging Equipment Market by Modality (Computed Tomography Scanners, Hybrid PET Systems, Magnetic Resonance Imaging Systems), End User (Academic & Research Institutes, Contract Research Organizations, Diagnostic Centres), Application - Global Fo

Diagnostic Imaging Equipment Market by Modality (Computed Tomography Scanners, Hybrid PET Systems, Magnetic Resonance Imaging Systems), End User (Academic & Research Institutes, Contract Research Organizations, Diagnostic Centres), Application - Global Fo

The Diagnostic Imaging Equipment Market size was estimated at USD 37.41 billion in 2023 and expected to reach USD 40.59 billion in 2024, at a CAGR 8.59% to reach USD 66.61 billion by 2030.

Diagnostic imaging equipment encompasses a broad range of medical devices and technologies used for the non-invasive visualization of internal organs, tissues, and structures within the human body. These devices aid healthcare professionals in diagnosing diseases, monitoring treatment progress, and screening for potential health issues. The primary applications of diagnostic imaging equipment include X-ray (radiography), computed tomography (CT), magnetic resonance imaging (MRI), ultrasound (sonography), positron emission tomography (PET), and nuclear medicine. The growing aging global population with the increasing prevalence of chronic diseases requiring early diagnosis and monitoring is expanding the usage of diagnostic imaging equipment. Rising technological advancements in medical imaging modalities enable faster scanning times with higher-resolution images, elevating the market growth. High costs associated with acquiring and maintaining advanced imaging systems and rising concerns over radiation exposure from certain modalities such as X-rays and CT scans are hampering market growth. The growing development of portable and mobile imaging devices that provide a cost-effective alternative for healthcare facilities with limited space or resources is expected to create opportunities for market growth.

Regional Insights

Americas represents a highly developing landscape with ongoing research initiatives and significant investments in advanced imaging technologies. The substantial rise in the number of diagnostic imaging centers across the Americas, driven by increasing demand for early disease detection and high-quality healthcare services, is expanding the market growth. Furthermore, regulatory support from organizations such as the Food and Drug Administration (FDA) and Health Canada for expanding the usage of novel diagnostic imaging equipment contributes to the growth of this market. The European Union (EU) countries are making major investments in research and development activities to enhance existing technologies and create new ones, significantly benefiting market growth. The EU's Horizon 2020 program has funded several projects related to medical imaging innovation, boosting the regional market's competitiveness worldwide. The rising prevalence of several chronic diseases worldwide is expanding the need for various diagnostic imaging equipment in Asia-Pacific. Rising public and private investments to improve healthcare accessibility in rural areas are promoting the adoption of diagnostic imaging equipment in Asia-Pacific.

Market Insights

Market Dynamics

The market dynamics represent an ever-changing landscape of the Diagnostic Imaging Equipment Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.

Market Drivers

Subsequent increase in the prevalence of critical diseases and health disorders
Rising awareness about early disease diagnosis
Increasing number of diagnostic centers worldwide

Market Restraints

High capital requirement for diagnostic imaging equipment

Market Opportunities

Technological advancements in imaging systems, such as AI & IoT
Rising private & public investment and grants for research in the modernization of imaging services

Market Challenges

Lack of trained professionals and rapidly changing technology

Market Segmentation Analysis

Modality: CT scanners and MRI systems gaining momentum to create detailed images of the body's structures
End-User: Expanding the availability of diagnostic imaging equipment across hospitals and diagnostic centers
Application: Rising usage of 5G transparent for cardiology and orthopedic imaging

Market Disruption Analysis

Porter’s Five Forces Analysis
Value Chain & Critical Path Analysis
Pricing Analysis
Technology Analysis
Patent Analysis
Trade Analysis
Regulatory Framework Analysis

FPNV Positioning Matrix

The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Diagnostic Imaging Equipment Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).

Market Share Analysis

The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Diagnostic Imaging Equipment Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.

Recent Developments

Siemens Healthineers presents mammography system with groundbreaking new imaging technology

Siemens Healthineers unveiled the Mammomat B.brilliant1 at the annual congress of the European Society of Breast Imaging in Valencia, Spain. This cutting-edge mammography system incorporates wide-angle tomosynthesis, providing a scan time of approximately five seconds and a 50° angle range. It boasts the fastest wide-angle tomosynthesis available in the market, with an acquisition speed 35% faster than other devices, ensuring a more comfortable examination experience for patients.

Solis Mammography acquiring network of breast imaging centers

Solis Mammography, the largest independent provider of specialized breast health services in the nation, recently announced its acquisition of Carolina Breast Imaging, a network of imaging centers located in three cities in eastern North Carolina. This strategic move allows Solis Mammography to expand access to high-quality breast imaging services throughout the state, aligning with its commitment to delivering exceptional care to patients.

Radon Medical Imaging Announces Acquisition of Tristate Biomedical Solutions

Radon Medical Imaging, a medical imaging equipment repair and maintenance service provider, announced the acquisition of Tristate Biomedical Solutions, LLC, a medical equipment sales and services specializing in C-arms and X-rays. This acquisition aims to reinforce Radon's strategy to be a market leader in the medical imaging market, strengthen its business by providing access to new solutions and technology, and expand its geographic footprint to serve its customers better.

Strategy Analysis & Recommendation

The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Diagnostic Imaging Equipment Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.

Key Company Profiles

The report delves into recent significant developments in the Diagnostic Imaging Equipment Market, highlighting leading vendors and their innovative profiles. These include Avonix Imaging, LLC by Nikon Corporation, Barco NV, Canon Medical Systems Corporation, Carestream Health, Inc. by Onex Corporation, Esaote S.p.A, FUJIFILM Holdings Corporation, General Electric Company, Hitachi, Ltd., Hologic, Inc., Koninklijke Philips N.V., MinFound Medical Systems Co., Ltd., Neusoft Corporation, NP JSC Amico, Samsung Medison Co., Ltd., Shanghai United Imaging Healthcare Co., Ltd., Shenzhen SONTU Medical Imaging Equipment Co., Ltd., Shimadzu Scientific Instruments, Siemens Healthcare Private Limited, and Toshiba International Corporation.

Market Segmentation & Coverage

This research report categorizes the Diagnostic Imaging Equipment Market to forecast the revenues and analyze trends in each of the following sub-markets:

Modality
Computed Tomography Scanners
Cone Beam CT Systems
Conventional CT Systems
High-Slice CT Scanners
Low-Slice CT Scanners
Mid-Slice CT Scanners
Hybrid PET Systems
Magnetic Resonance Imaging Systems
Closed MRI
Open MRI
Mammography Systems
Nuclear Imaging Systems
SPECT Systems
Hybrid SPECT Systems
Standalone SPECT Systems
Ultrasound Systems
2D Ultrasound
3D & 4D Ultrasound
Doppler Ultrasound
X-ray Imaging Systems
X-Ray Analog Imaging Systems
X-Ray Digital Imaging Systems
Computed Radiography
Direct Radiography
End User
Academic & Research Institutes
Contract Research Organizations
Diagnostic Centres
Hospitals & Care Providers
Pharmaceutical & Biotechnology Companies
Application
Cardiology
Gastroenterology
Gynecology
Neurology
Oncology
Orthopedics
Region
Americas
Argentina
Brazil
Canada
Mexico
United States
California
Florida
Illinois
New York
Ohio
Pennsylvania
Texas
Asia-Pacific
Australia
China
India
Indonesia
Japan
Malaysia
Philippines
Singapore
South Korea
Taiwan
Thailand
Vietnam
Europe, Middle East & Africa
Denmark
Egypt
Finland
France
Germany
Israel
Italy
Netherlands
Nigeria
Norway
Poland
Qatar
Russia
Saudi Arabia
South Africa
Spain
Sweden
Switzerland
Turkey
United Arab Emirates
United Kingdom

Please Note: PDF & Excel + Online Access - 1 Year