Global Diagnostic Imaging Market Projected to Reach USD 33 Billion by 2024
|
By MedImaging International staff writers Posted on 01 Jun 2019 |
|
The global diagnostic imaging market is projected to grow at a CAGR of 5.5% from USD 25.7 billion in 2019 to USD 33.5 billion by 2024, driven by increasing demand for early disease diagnosis and widening scope of clinical applications, rapidly growing geriatric population and subsequent rise in associated diseases, technological advancements, and increasing investments, funds, and grants by public-private organizations. However, the high cost of diagnostic imaging systems, technological limitations associated with standalone systems, declining reimbursements and increasing regulatory burden in the US and shortage of helium availability are expected to limit the market growth to some extent.
These are the latest findings of MarketsandMarkets (Northbrook, IL, USA), a global market research company.
On the basis of product, the magnetic resonance imaging (MRI) systems segment accounted for the largest share of the global diagnostic imaging market in 2018, led by the growing demand for early and accurate diagnosis, high adoption of MRI systems among hospitals and diagnostic centers across the globe, and advances in technology. Based on application, diagnostic breast imaging and diagnostic vascular ultrasound are expected to register the highest and second-highest CAGR, respectively during the forecast period, driven by the growing demand for early diagnosis and technological advancements in diagnostic imaging modalities.
Geographically, the Asia Pacific region accounted for the second-largest share of the global diagnostic imaging market in 2018, led by increasing chronic diseases, growing awareness about the benefits of early disease diagnosis, improvements in healthcare systems, flourishing medical tourism in APAC countries, increasing government initiatives for modernizing healthcare infrastructure, and growing research activities related to the development of advanced diagnostic imaging modalities.
Related Links:
MarketsandMarkets
These are the latest findings of MarketsandMarkets (Northbrook, IL, USA), a global market research company.
On the basis of product, the magnetic resonance imaging (MRI) systems segment accounted for the largest share of the global diagnostic imaging market in 2018, led by the growing demand for early and accurate diagnosis, high adoption of MRI systems among hospitals and diagnostic centers across the globe, and advances in technology. Based on application, diagnostic breast imaging and diagnostic vascular ultrasound are expected to register the highest and second-highest CAGR, respectively during the forecast period, driven by the growing demand for early diagnosis and technological advancements in diagnostic imaging modalities.
Geographically, the Asia Pacific region accounted for the second-largest share of the global diagnostic imaging market in 2018, led by increasing chronic diseases, growing awareness about the benefits of early disease diagnosis, improvements in healthcare systems, flourishing medical tourism in APAC countries, increasing government initiatives for modernizing healthcare infrastructure, and growing research activities related to the development of advanced diagnostic imaging modalities.
Related Links:
MarketsandMarkets
Digital Intelligent Ferromagnetic Detector
Digital Ferromagnetic Detector
Adjustable Mobile Barrier
M-458
Medical Radiographic X-Ray Machine
TR30N HF
High-Precision QA Tool
DEXA Phantom
Latest Industry News News
- GE HealthCare Highlights AI-Supported Radiation Therapy Tools at ESTRO 2026
- Nuclear Medicine Set for Continued Growth Driven by Demand for Precision Diagnostics
- GE HealthCare and NVIDIA Collaboration to Reimagine Diagnostic Imaging
- Patient-Specific 3D-Printed Phantoms Transform CT Imaging
- Siemens and Sectra Collaborate on Enhancing Radiology Workflows
- Bracco Diagnostics and ColoWatch Partner to Expand Availability CRC Screening Tests Using Virtual Colonoscopy
- Mindray Partners with TeleRay to Streamline Ultrasound Delivery
- Philips and Medtronic Partner on Stroke Care
- Siemens and Medtronic Enter into Global Partnership for Advancing Spine Care Imaging Technologies
- RSNA 2024 Technical Exhibits to Showcase Latest Advances in Radiology
- Bracco Collaborates with Arrayus on Microbubble-Assisted Focused Ultrasound Therapy for Pancreatic Cancer
- Innovative Collaboration to Enhance Ischemic Stroke Detection and Elevate Standards in Diagnostic Imaging
- RSNA 2024 Registration Opens
- Microsoft collaborates with Leading Academic Medical Systems to Advance AI in Medical Imaging
- GE HealthCare Acquires Intelligent Ultrasound Group’s Clinical Artificial Intelligence Business
- Bayer and Rad AI Collaborate on Expanding Use of Cutting Edge AI Radiology Operational Solutions
Channels
Radiography
view channel
AI Detection Tool Improves Identification of Lobular Breast Cancer
Breast cancer screening seeks early detection, yet some subtypes remain difficult to visualize on mammography, risking delayed diagnosis. On average, 1 in 20 women worldwide will develop breast cancer,... Read more
New Contrast Agent Enables Low-Dose X-Ray Joint Imaging
X-ray imaging offers limited visualization of soft tissues like cartilage, complicating evaluation of joint pain and degenerative disease. Clinicians often rely on joint-space narrowing as a proxy for... Read more
MRI
view channel
AI Body Composition MRI Analysis Predicts Cardiometabolic Disease Risk
Cardiometabolic disease, driven by interactions between cardiovascular and metabolic systems, is a leading cause of morbidity and mortality. Risk assessment often relies on body mass index, which overlooks... Read more
Blood-Brain Barrier Imaging Adds Risk Insight to Standard Stroke MRI
Acute ischemic stroke requires fast, precise decisions on reperfusion and bleeding risk, yet routine imaging gives limited insight into vascular integrity. Clinicians need ways to predict outcomes and... Read more
Ultrasound
view channel
AI Robotic Ultrasound System Automates Echocardiography and Improves Consistency
Echocardiography, an ultrasound examination of the heart, is central to diagnosing and managing cardiovascular disease. Many services struggle with limited availability of skilled sonographers, variable... Read more
Whole Cross-Section Ultrasound System Enables Operator-Independent Imaging
Conventional ultrasound is central to bedside imaging but is limited by a narrow field of view and operator variability. Comprehensive cross-sectional assessment typically requires computed tomography... Read more
Nuclear Medicine
view channel
MR-Guided Cardiac Mapping System Enables Radiation-Free Procedures
Cardiac electrophysiology procedures are typically guided by X-ray fluoroscopy, which limits soft-tissue visualization and exposes patients and clinical staff to ionizing radiation. Real-time mapping that... Read more
PET Tracer Enables Noninvasive Measurement of Beta Cell Mass
Type 1 diabetes is an autoimmune disease in which the immune system destroys insulin-producing pancreatic beta cells. Loss of these cells destabilizes glucose control and drives complications.... Read more
New Imaging Tool Sheds Light on Tumor Fat Metabolism
Rapidly growing tumors reprogram metabolism to meet high energy demands. While many cancers preferentially consume glucose, lipid utilization by malignant cells is difficult to measure in living subjects.... Read more
Radiopharmaceutical Molecule Marker to Improve Choice of Bladder Cancer Therapies
Targeted cancer therapies only work when tumor cells express the specific molecular structures they are designed to attack. In urothelial carcinoma, a common form of bladder cancer, the cell surface protein... Read moreGeneral/Advanced Imaging
view channel
New Proton Therapy Platform Integrates into Existing Radiotherapy Departments
Mevion Medical Systems (Littleton, MA, USA) has introduced the MEVION S250-FIT Proton Therapy System to the European radiation oncology community at ESTRO 2026, the first proton therapy platform designed... Read more
3D-Printed Intraoral Device Enhances Head and Neck Radiotherapy Accuracy
Ensuring consistent immobilization and soft-tissue positioning is central to safe, effective head and neck radiotherapy, where protection of organs at risk must be balanced with dose accuracy.... Read more
Molecular Imaging Agent Shows Promise for Endometriosis Detection and Monitoring
Diagnosing endometriosis remains challenging, particularly for superficial peritoneal endometriosis, the most common subtype, which is often missed on conventional imaging and typically requires laparoscopic... Read more
Imaging IT
view channel
Interactive AI Tool Supports Explainable Lung Nodule Assessment
Lung cancer is a leading cause of cancer mortality, and timely characterization of pulmonary nodules on chest computed tomography (CT) is essential for directing care. Interpreting nodule morphology demands... Read more
Breast Imaging Software Enhances Visualization and Tissue Characterization in Challenging Cases
Breast imaging can be particularly challenging in cases involving small breasts or implants, where image reconstruction and tissue characterization may be limited. Clinicians also need reproducible analysis... Read more
New Google Cloud Medical Imaging Suite Makes Imaging Healthcare Data More Accessible
Medical imaging is a critical tool used to diagnose patients, and there are billions of medical images scanned globally each year. Imaging data accounts for about 90% of all healthcare data1 and, until... Read more