Diagnostic Imaging Market Analysis and Forecast till 2031: By Product (X-ray Imaging Systems, CT Scanners, Ultrasound Imaging Systems, MRI Systems, Nuclear Imaging Systems, Mammography System), Application (Cardiology, Oncology, Neurology, Orthopedics, Ga

Diagnostic Imaging Market Analysis and Forecast till 2031: By Product (X-ray Imaging Systems, CT Scanners, Ultrasound Imaging Systems, MRI Systems, Nuclear Imaging Systems, Mammography System), Application (Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, Others), End User (Hospitals, Diagnostic Imaging Centers, Others), and Region

The global diagnostic imaging market was valued at USD 37.8 billion in 2021 and it is anticipated to grow up to USD 66.8 billion by 2031 at a CAGR of 5.9% during the forecast period.


The diagnostic health imaging technology has transformed healthcare and now allows for earlier diagnosis of medical conditions, reduces the need for needleless invasive exploratory processes, and creates better patient outcomes. It describes the various technique of viewing the inside of the body to help figure out the causes of an illness or injury and confirm a diagnosis.

Global Diagnostic Imaging Market Scope and Report StructureMarket Trends and Driver

The growing geriatric population and the increasing prevalence of associated diseases are boosting the growth of the market. The risk of developing diseases increases respectively with age. According to the Centers for Disease Control and Prevention (CDC), nearly 80% of the elderly in the US suffer from at least one chronic condition. Adding to these, the American Medical Association (AMA) estimates that at least 60% of individuals aged 65 and above will be living with more than one chronic condition by 2030. This growth in the aging population will drive the demand for improved healthcare facilities and advanced treatment options and medication. With the rising growth in the geriatric population across the globe, the prevalence of age-associated diseases like Alzheimer’s disease, Parkinson’s disease, arthritis, and dementia, along with CVDs and cancer, is expected to rise.

Market Restraints and Challenges

The key factor hindering the growth of the market is the technological limitations associated with standalone systems. Technological limitations related to standalone imaging modalities deter researchers from purchasing them, negatively affecting their market growth. For example, 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 minimal information about functional characteristics, and carries the risk of radiation exposure for both physicians and patients.

Global Diagnostic Imaging Market Segmental Overview

The report analyses the global diagnostic imaging market based on product, application, end user, and regions.

Global Diagnostic Imaging Market by Product

Based on product, it is segmented into X-ray imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems, and mammography systems. The CT scanners segment held the largest share of the global diagnostic imaging market. The key factors such as demand for early and accurate diagnosis, high adoption of CT scanners by hospitals and diagnostic centre across the globe. There has been a steady increase in the demand for CT scanners ever since the COVID-19 pandemic started. CT of the chest plays an essential role in the diagnosis of COVID-19; almost every patient needs a CT scan to monitor disease progression. Accordingly, the rising demand for disease treatment has favored the CT scanners market, even with the deferred procedures.

Global Diagnostic Imaging Market by Application

Based on application, it is segmented into Cardiology, Oncology, Neurology, Orthopedics, Gastroenterology, Gynecology, and Others. The cardiology segment is likely to dominate the market during the forecast period. The key factors such as the growing geriatric population coupled with the rising prevalence of associated diseases are boosting the growth of the market.

Global Diagnostic Imaging Market by End User

Based on end user, it is segmented into hospitals, diagnostic imaging centers, and other end users. The hospital segment is likely to dominate the market during the forecast period. The key factors such as increasing demand for early diagnosis coupled with a widening scope of clinical application are boosting the growth of the market.

Geographical Analysis of Global Diagnostic Imaging Market

Region-wise, it is studied across North America, Europe, Asia Pacific, and the Rest of the World. North America region is expected to dominate the market during the forecast period. The key factors such as rising geriatric population and associated diseases, easy accessibility to diagnostic imaging modalities, and high adoption of technological advancements are boosting the growth of the market.

Major Players in the Global Diagnostic Imaging MarketCOVID-19 Impact:

The COVID-19 pandemic has positively and negatively impacted the market. Negative impacts comprise severely limited buying capacity of hospitals, especially small-scale hospitals, and imaging centers. The pandemic has also impacted the operation of manufacturing companies. Companies are functioning with a limited workforce. Additionally, the turnaround time for delivering products and services is affected owing to newer packaging protocols and lockdown measures imposed by countries. All these factors are negatively impacting the manufacturing and supply chain of diagnostic imaging systems. Given that hospitals had to free up capacity and resources for potential COVID-19 emergencies, the number of routines and elective procedures severely decreased. The market for diagnostic imaging is therefore negatively affected by the pandemic. Still, this decline is anticipated to have a short-term negative impact on the market, and there will be minimum or no change in the long-term fundamental drivers affecting the demand for diagnostic imaging devices.

Recent Developments:

• May 2021, Koninklijke Philips N.V. launched the spectral detector-based Spectral Computed Tomography 7500 solution for precision diagnosis.
• March 2021, GE Healthcare launched Venue Fit, a streamlined and compact POCUS system, alongside an industry first AI offering for cardiology.
• March 2021, Siemens Healthineers, received FDA clearance for the Biograph Vision Quadra, a PET/CT scanner for clinical use and translational research.
• May 2020, Fujifilm Corporation launched new AI-based technology for lung nodule detection. This technology is used in detection of pulmonary nodules in chest CT scans to help in lung cancer diagnosis

Frequently Asked Questions

Q1. How big is the diagnostic imaging market?Ans. The global diagnostic imaging market size was USD 37.8 Billion in 2021 and is anticipated to reach USD 66.8 Billion in 2031, growing at a rate of 5.9% from 2022 to 2031.
Q2. What is the diagnostic imaging market growth rate?Ans. The growth rate of the diagnostic imaging market is 5.9% from 2022 to 2031.
Q3. Which region holds a major market share for the diagnostic imaging market?Ans. North America holds a major market share of the diagnostic imaging market in 2021.
Q4. Which segment accounted for the largest diagnostic imaging market share?Ans. By end user, the hospitals segment accounted for the largest diagnostic imaging market share.
Q5. Who are the key players in the diagnostic imaging market?Ans. The global diagnostic imaging market report includes players such as GE Healthcare (US), Siemens Healthineers (Germany), Koninklijke Philips N.V. (Netherlands), Canon Medical Systems Corporation (Japan), FUJIFILM Holdings Corporation (Japan), Hitachi Ltd. (Japan), Carestream Health, Inc. (US), Esaote S.p.A (Italy), Hologic, Inc. (US), Agfa-Gevaert N.V. (Belgium), Samsung Electronics (South Korea), Mindray Medical International (China), Planmed Oy (Finland), CurveBeam LLC (US), Shimadzu Corporation (Japan), Allengers Medical Systems (India), Neusoft Medical Systems (China), Konica Minolta, Inc. (Japan), NP, JSC Amico (Russia), Konica Minolta (Japan), SternMed (Germany), Allengers (India), Neusoft Medical Systems (China).
Q6. What are the factors driving the diagnostic imaging market growth?Ans. The major factors driving the growth of the market are the development of technologically advanced diagnostic imaging.
Q7. What are the key growth strategies of diagnostic imaging market players?Ans. The key growth strategies of diagnostic imaging market players are product launch and product approval.
Q8. Which region will provide more business opportunities for the diagnostic imaging market during the forecast period?Ans. The Asia-Pacific region will provide more business opportunities for the diagnostic imaging market during the forecast period.

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