Diagnostic Imaging Market Size to Grow USD 12630 Million by 2029 at a CAGR of 3.5% | Valuates Reports

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Nov 21, 2023, 10:01 ET

BANGALORE, India, Nov. 21, 2023 /PRNewswire/ -- Diagnostic Imaging Market is Segmented by Type (X-ray, Ultrasound, MRI), by Application (Hospital, Clinic): Global Opportunity Analysis and Industry Forecast, 2023-2029. It is Published in Valuates Reports Under the Category of Medical Devices & Equipment.

The Global Diagnostic Imaging market is projected to reach USD 12630 Million in 2029, increasing from USD 9962.4 Million in 2022, with a CAGR of 3.5% during the period of 2023 to 2029.

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Major Factors Driving the Growth of Diagnostic Imaging Market

The government's increased investment and reimbursement initiatives, the growing demand for early detection tools, the expansion of new facilities by market players in developing nations, the rising prevalence of lifestyle-related diseases, and technological advancements to improve turnaround times are all thought to be driving factors in the market growth.

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DIAGNOSTIC IMAGING MARKET TRENDS

The burden of related disorders is steadily rising on a global scale. The likelihood of contracting illnesses rises in direct proportion to age. Due to the ageing population's rapid expansion, it is anticipated that age-related disorders including cancer, cardiovascular disease, and Alzheimer's disease will become more common. Gaining a clearer perspective helps you comprehend your condition better. Furthermore, physicians can precisely forecast your risk of contracting an illness like cancer thanks to medical imaging.

The majority of diagnostic imaging techniques are non-invasive and painless. For the most part, no additional preparation is needed for procedures. For example, an ultrasound uses a transducer and is a very pleasant and painless diagnostic method. The doctor can observe your unborn child and monitor its progress during pregnancy with the aid of ultrasound equipment. Your doctor can ensure that your baby is developing normally and spot any anomalies. It's among the greatest ways to keep an eye on a developing foetus.

With the use of an ultrasound, medical professionals may identify a wide range of illnesses. Physicians can also use the pictures it generates to assist them in planning treatments. To find the source of any symptoms you may be experiencing, such as pain, swelling, or infection, your doctor may recommend an ultrasound. When anesthesiologists insert needles close to nerves during surgery, ultrasounds are also used to help.

Ultrasounds are frequently used by medical professionals to assess illnesses pertaining to the abdomen, circulation, urology, obstetrics, infant care, and even musculoskeletal disorders. Ultrasounds are frequently used by doctors to examine the following bodily parts: the heart, joints, uterus, blood vessels, muscles, bladder, and kidneys.

One of the most popular and widely utilised diagnostic imaging examinations is the X-ray. They let medical professionals see into the body. A high-energy beam produced by X-ray machinery may penetrate through some parts of the body but not thick tissue or bones. This procedure creates a picture that your doctor can use to determine whether you have any bone injuries.

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MEDICAL DIAGNOSTIC IMAGING MARKET SHARE ANALYSIS

The diagnostic imaging market in Asia Pacific is expected to develop at the quickest rate during the projected period due to the increased demand for improved imaging technologies and the rising frequency of chronic illnesses. In this underdeveloped, price-sensitive sector, more local manufacturing facilities are anticipated to offer diagnostic devices at reasonable prices.

The portion with the highest share was ultrasonography. One reason for the segment's rise is the increase in ultrasonic applications. Advances in ultrasound transducers have created new opportunities for ultrasound devices in the fields of biomedical and cardiovascular imaging. Furthermore, it is anticipated that increased emphasis on the creation of portable ultrasound equipment would broaden the modality's applicability in both emergency and ambulatory care. The incorporation of artificial intelligence into ultrasound devices to mechanise the picture quantification and selection process is anticipated to have an impact on market expansion as well.

The majority was accounted for by hospitals. Among the reasons propelling the market are the growing need for sophisticated imaging modalities and the incorporation of imaging technology into surgical suites. When compared to general or special hospitals, the demand for these modalities at teaching hospitals has increased significantly in some wealthy nations.

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Key Players:

GE
IDEXX
Esaote
Agfa Healthcare
Toshiba
Carestream Health
BCF Technology
Mindray
Hallmarq
Heska
Sedecal
Kaixin Electric
Chison
MinXray
Diagnostic Imaging Systems
AGFA

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