[March 02, 2017]

$36.43 Billion Diagnostic Imaging (MRI, Ultrasound, CT, Nuclear Imaging) Market 2017 - Global Forecast to 2021 - Research and Markets

Research and Markets has announced the addition of the "Diagnostic Imaging Market by Product, MRI, Ultrasound, CT, Nuclear Imaging, Application, End User - Global Forecast to 2021" report to their offering.

The global diagnostic imaging market is estimated to grow at a CAGR of 6.6% from 2016 to 2021 to reach USD 36.43 billion by 2021

Factors such as increasing prevalence of chronic diseases, rapid growth in the geriatric population, growing government investments for modernization of imaging facilities, rising number of private imaging centers (especially in emerging countries), technological advancements in diagnostic imaging modalities, and the improving healthcare infrastructure in emerging markets and availability of low-cost, technologically advanced imaging systems with applications in multiple fields are driving the growth of this market.

On the other hand, the high cost of diagnostic imaging systems, technological limitations associated with standalone systems, unfavorable healthcare reforms in the U.S., and shortage of helium are the key factors limiting the growth of the market.

North America is expected to command the largest share of the market in 2016, followed by Europe. The market in the North American market is primarily driven by various factors, including the high incidence and prevalence of various diseases (such as cancer and CVD), large number of diagnostic imaging centers and procedures in this region, growing number of ongoig research activities, and fast adoption of technologically advanced imaging systems.

Market Dynamics

Drivers

• Increasing Investments, Funds, and Grants By Government Bodies for Modernization of Imaging Facilities
• Increasing Investments From Public-Private Organizations
• Growth in the Number of Diagnostic Imaging Centers
• Rising Prevalence of Cancer
• Increasing Geriatric Population and the Subsequent Growth in the Incidence of Various Diseases
• Technological Advancements in Diagnostic Imaging Modalities
• Increasing Preference for Minimally Invasive Treatments

Restraints

• High Cost of Diagnostic Imaging Systems (News - Alert)
• Technological Limitations Associated With Standalone Systems Affecting Their Usage in Various Applications
• Unfavorable Healthcare Reforms in the U.S.
• Shortage of Helium, A Major Concern for MRI Manufacturers and Healthcare Facilities

Opportunities

• High Growth Opportunities in Emerging Countries
• Growing Demand for Diagnostic Imaging Devices and Focus of Key Market Players
• Medical Tourism and Improving Healthcare Infrastructure
• Development of Low-Cost, Technologically Advanced Imaging Systems With Applications in Multiple Fields

Challenges

• Hospital Budget Cuts
• Increasing Adoption of Refurbished Diagnostic Imaging Systems
• Dearth of Trained Personnel

Burning Issues

• Significant Reimbursement Cuts to Negatively Affect Revenues of Standalone Imaging Centers and Patient Outcomes
• Shortage in Supply of Technetium-99m is Expected to Restrain the Growth of the Spect Systems Market in the Coming Years
• Pndt Act Limits Use of Ultrasound Technology in India
• Increasing Focus on the Replacement of Low-Field MRI Systems With High-Field MRI Systems

Companies Mentioned

• Carestream Health
• Esaote S.P.A
• Fujifilm Holdings Corporation
• GE Healthcare (General Electric Company)
• Hitachi (News - Alert) Ltd.
• Koninklijke Philips N.V.
• Samsung Medison
• Shimadzu Corporation
• Siemens Healthcare GmbH (Siemens AG (News - Alert))
• Toshiba Medical Systems Corporation (Toshiba Corporation)

For more information about this report visit http://www.researchandmarkets.com/research/5v7n9v/diagnostic

View source version on businesswire.com: http://www.businesswire.com/news/home/20170302005625/en/

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