Diagnostic Imaging Devices Market Expected To Value USD 35,793.4 Mn By 2020

According to a new market report published by Persistence Market Research “Global
Market Study on Diagnostic Imaging Devices: Asia-Pacific to Witness Highest
Growth by 2020,” the global diagnostic imaging devices market was valued at USD
26,477.1 million in 2014 and is expected to grow at a CAGR of 5.2% from 2014 to
2020, to reach an estimated value of USD 35,793.4 million in 2020.
The global diagnostic imaging devices market is growing at a moderate rate owing to
increasing prevalence of chronic diseases and injuries, and growing aging population.
Moreover, factors such as rising initiatives undertaken by government associations to
boost awareness of the effects and complications of tuberculosis, cardiovascular
diseases, and cancer, and technological advancement and widening application of
diagnostic imaging devices are driving the global diagnostic imaging devices market.
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In addition, increasing funding from government bodies is also promoting the use of
diagnostic imaging devices in the regions. However, factors such as strict regulatory
requirements and heightened risk of cancer owing to exposure to radiation are
inhibiting the market growth. The global diagnostic imaging devices market is
anticipated to grow from an estimated USD 26,477.1 million in 2014 to USD
35,793.4 million in 2020 at a CAGR of 5.2% during the forecast period.
In North America, growing aging population, increasing health awareness, rising
chronic diseases and injuries, large number of ongoing research activities and faster
adoption of technologically advanced imaging systems are driving the use of
diagnostic imaging devices in the market.
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In Europe, the diagnostic imaging devices market is driven by rising diagnostic
requirements due to increasing prevalence of chronic diseases and injuries, and aging
population. For instance, according to a paper published on Cancer Incidence and
Mortality Pattern in Europe, by International Agency for Research on Cancer in
France, approximately, 3.45 million new cases of cancer were diagnosed in Europe in
However, in Asia-Pacific the growth for diagnostic imaging devices is much higher
than developed countries due to growing awareness about benefits of early diagnosis
of disease among individuals, large population base, upgradation of health care
systems and increasing prevalence of chronic diseases.
Siemens Healthcare, Hitachi, Ltd., Carestream, Health, Inc., Samsung Electronics
Co., Ltd., Toshiba Corporation, Koninklijke Philips N.V., and General Electric
Company are some of the major players in diagnostic imaging devices market.
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