Market Research Reports Search Engine (MRRSE) has announced the addition of a new research report based on the global diagnostic imaging devices market. The report states that the global market is expected to expand moderately at a CAGR of 5.2% between 2014 and 2020 and reach a value of US$35,793.4 million by 2020. The market for diagnostic imaging devices amounted to US$26,477.1 million in 2014.
According to this report, titled “Global Market Study on Diagnostic Imaging Devices: Asia-Pacific to Witness Highest Growth by 2020” and published by Persistence Market Research (PMR), the increasing geriatric population base around the world coupled with the rising incidence of chronic diseases and injuries is the main factor behind the development of the global diagnostic imaging devices market.
Further, the rising awareness regarding the advantages of early detection of diseases, availability of technically advanced diagnostic imaging devices and increased support from government organizations is stimulating the growth of this market. However, the diagnostic imaging devices market is facing a tough challenge from the heightened risk of cancer caused by radiation produced by the diagnostic imaging devices. The lack of helium for magnetic resonance imaging (MRI) systems and strict regulatory standards are also major concerns for the global diagnostic imaging devices industry, according to the report.
Based on the types of diagnostic imaging devices, the global market is classified into X-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography scanner, nuclear imaging system, and others, wherein the X-ray industry is dominating the global diagnostic imaging devices market. The global market for ultrasound diagnostic imaging devices stood at US$6,146.7 million in 2014. By 2020, this market is expected to reach US$8,363.4 million, developing at a 5.3% CAGR during the forecast period.
Geographically, the global market for diagnostic imaging is distributed among the markets in North America, Europe, Asia Pacific, and the Rest of the World. North America leads the global market for diagnostic imaging devices at present; however, the diagnostic imaging devices market in Asia Pacific is expected to register the highest growth during the forecast period owing to the rise in the geriatric population base and advancement of healthcare systems.
Some of the major participants of the global diagnostic imaging devices market discussed in this research report are General Electric Company, Shimadzu Corporation, Siemens Healthcare, Hologic, Inc., Carestream Health, Inc., Hitachi, Ltd., FUJIFILM Holdings Corp., Samsung Electronics Co., Ltd., Toshiba Corporation, Koninklijke Philips N.V., and Samsung Electronics Co., Ltd.