Boston, MA -- (SBWIRE) -- 04/18/2014 -- Diagnostic Imaging Market by X-ray Systems (Digital, Analog, Portable), Computed Tomography, Ultrasound Imaging Systems (2D, 3D, 4D, Doppler), MRI Machines (Closed & Open), and Nuclear Imaging Systems (SPECT, PET, PET/CT) - Global Forecasts to 2018
The global diagnostic imaging market is estimated to grow at a CAGR of 4.7% and is expected to reach ~$27,115.4 million by 2018. Although the mature markets hold larger shares in diagnostic imaging, the Asia-Pacific region is expected to grow at the highest CAGR of 5.9%. The growth of the diagnostic imaging market is primarily triggered by factors such as the rapidly increasing aging population, improving healthcare facilities in the emerging countries of the Asia-Pacific and RoW regions, geographic expansion of market players across the globe, and the government initiatives to fulfill healthcare needs. However, factors such as high cost of diagnostic imaging systems, growing preference of hospitals towards refurbished devices due to budget constraints, and reimbursement cuts in mature regions are restraining the growth of the diagnostic imaging market. Growing public-private investments by market players in the emerging regions of Asia-Pacific and RoW are creating opportunities for the growth of the diagnostic imaging market in these regions.
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Based on the type of modalities, the global diagnostic market is categorized into five segments, namely, X-ray imaging systems, computed tomography (CT) systems, ultrasound systems, magnetic resonance imaging (MRI) systems, and Nuclear imaging systems. Nuclear imaging systems are further divided into Single Photon Emission Computed Tomography (SPECT) and Positron Emission Tomography (PET). X-ray imaging systems held the largest share of the global diagnostic imaging market and are poised to grow at a CAGR of 4.2% in the forecast period. Factors such as the increasing number of new product launches by market players to increase their product portfolios and strategic collaborations to offer expanded capabilities to customers for X-ray imaging systems are stimulating the growth of the global X-ray imaging systems market.
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