The Global Diagnostic Imaging Market is projected to reach $42.29 billion by 2027, from a value of $25.16 billion in 2020, by registering a CAGR of 7.7% during the forecast period. Growing healthcare expenditure in emergent markets, growing consciousness for initial analysis of medical illnesses, technological expansions in diagnostic imaging devices and rise in the elderly people are the major factors propelling the growth of the market. However, high cost of imaging modalities and deficiency of helium are hampering market growth. Moreover, rising medical tourism, developing economies, miniaturization & portability and development of multi-modality imaging systems are creating ample opportunities across the globe.
Recent Developments
In Jan 2020, Allengers Medical Systems collaborated with Canon launch a CT scanner. Allengers became the first Indian company to manufacture a CT scanner within the country. The 32 slices made in India CT scanner is going to cost less and help reduce the cost of CT scans significantly.
In Aug 2021, Canon Medical Systems Corporation collaborated on a research project with the National Cancer Center Japan Exploratory Oncology Research & Clinical Trial Center (NCC-EPOC) to examine the clinical usefulness of photon-counting computed tomography (PCCT), a next-generation diagnostic imaging system.
In Aug 2020, Carestream Health launched a new DRX-Compass X-ray system. DRX-Compass X-ray system is designed to deliver a flexible and scalable approach to digital imaging, as well as enhance workflow efficiency and reduce costs. It offers complete benefits of a digital X-ray room; the DRX-Compass system is suitable for community, rural and private hospitals.
In Jan 2021, Esaote launched MyLabX8 Ultrasound System. Its a fully-featured premium imaging solution, integrating the latest technologies and delivering superior image quality without compromising workflow or efficiency.
In Dec 2019, Fujifilm acquired Hitachi’s diagnostic imaging equipment business. Through this acquisition, Fujifilm strengthened its medical-related businesses, while Hitachi has been seeking to sell the imaging equipment business as part of its group restructuring.
Competitive Landscape
Allengers Medical Systems, Canon Medical Systems Corporation, Carestream Health, Esaote S.P.A, Fujifilm Holdings Corporation, GE Healthcare, Hitachi Ltd., Konica Minolta, Inc., Koninklijke Philips N.V, Neusoft Medical Systems, NP, JSC Amico , Samsung Medison, Shimadzu Corporation, Siemens AG, SternMed. are some of the major players in the global diagnostic imaging market.
