Diagnostic Imaging Systems Market Demand to Assist in Product Developments

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The X-ray imaging systems category dominated the global market and generated revenue worth $15.2 billion in 2018, which is projected to reach $20.5 billion by 2024, progressing at a CAGR of 5.2% during the forecast period (2019–2024). Besides, the industry witnessed fastest growth in the category of nuclear imaging systems. The growth of this category is mainly driven by increasing prevalence of cancer, and rising demand for these systems across the globe. Furthermore, the market size for ultrasound systems, which stood at $5.9 billion in 2018, is expected to reach $8.3 billion by 2024, witnessing a CAGR of 6.0% during the forecast period.


The governments across the globe are running awareness programs to educate people regarding early diagnosis of chronic diseases, especially breast cancer, lung cancer, cardiovascular diseases, diabetes, arthritis, and tuberculosis. Such initiatives are leading to increase in awareness regarding early diagnosis of diseases among healthcare providers and patients. Diagnostic imaging has helped doctors to diagnose diseases earlier, thereby improving patient outcomes. Diagnostic imaging systems improve healthcare quality and reduce healthcare cost by shortening recovery time and avoiding unnecessary invasive procedures. Such factors are playing pivotal role in the growth of diagnostic imaging systems market.

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Mexico is a growing marketplace for diagnostic imaging systems in the LATAM and is expected to generate around $1.5 billion by 2024. This can be attributed to the surging geriatric population, and increasing prevalence of chronic diseases in the country as compared to other countries in the region.

Due to technological advancements and rapid urbanization, Saudi Arabia is expected to hold larger share, of 32.2%, by 2024, in the MEA market. However, due to large patient population and increasing government initiatives to make healthcare accessible to every citizen, the industry is expected to witness faster growth in South Africa, registering a CAGR of 6.3% during the forecast period.

In January 2019, the U.S. Food and Drug Administration (USFDA) approved Siemens Healthineers’s MAGNETOM Lumina 3 Tesla MRI scanner. The system features BioMatrix patient personalization technology, which significantly improves productivity while reducing scan time. Furthermore, in September 2018, Carestream Health Inc. received the USFDA 510(k) Clearance for its OnSight 3D Extremity System. This imaging system uses cone beam CT technology to capture weight-bearing and other types of extremity exams.

Other prominent players in the diagnostic imaging systems market include Konica Minolta Inc., Dornier MedTech GmbH, SternMed GmbH, MinFound Medical Systems Co. Ltd., DRGEM CO. LTD., SonoScape Medical Corporation, Analogic Corporation, and Fonar Corporation.

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