Diagnostic Imaging Devices - Worldwide

The Diagnostic Imaging Devices market market worldwide is anticipated to achieve a revenue of US$47.65bn by the year 2024.
It is projected to exhibit a steady annual growth rate (CAGR 2024-2029) of 4.46%, leading to a market volume of US$59.25bn by 2029.
When compared globally, the United States is expected to generate the highest revenue, reaching US$11.93bn in 2024.
In the worldwide market for Diagnostic Imaging Devices in the Medical Technology industry, the United States continues to lead with its advanced technology and high adoption rates.

Definition:
The market covers diagnostic imaging devices such as X-ray systems, ultrasound systems, computed tomography scanners, Magnetic resonance imaging (MRT) systems, and related components.

Additional information:
Market values represent revenues paid to primary vendors at manufacturer price level either directly or through distribution channels (excluding VAT). Reported market revenues include spending by consumers (B2C), enterprises (B2B) as well as governments (B2G). Revenues are allocated to the country where the money is spent.

Company examples: Siemens Healthineers, General Electric, Philips, Fujifilm Holdings. Further information on the key players can be found in the Market Shares boxes.

X-ray systems
Computed tomography (CT) scanners
Magnetic resonance imaging (MRT) systems
Positron emission tomography (PET) scanners

Non-imaging diagnostics
In vitro diagnostics (IVD)

The Diagnostic Imaging Devices market in Worldwide is experiencing significant growth and development due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. Customer preferences for diagnostic imaging devices are driving the growth of the market. Patients and healthcare providers are increasingly demanding advanced imaging technologies that can provide accurate and detailed diagnostic information. This has led to a rising demand for devices such as MRI scanners, CT scanners, and ultrasound machines. Additionally, there is a growing preference for portable and handheld imaging devices that can be used in point-of-care settings, allowing for faster and more convenient diagnosis. Trends in the market are also contributing to the development of the Diagnostic Imaging Devices market in Worldwide. Advancements in technology, such as the introduction of artificial intelligence and machine learning algorithms, have enabled more precise and efficient imaging analysis. This has improved the accuracy of diagnoses and reduced the need for invasive procedures. Furthermore, there is a growing trend towards the integration of imaging devices with other healthcare systems, such as electronic health records and telemedicine platforms. This allows for seamless data sharing and collaboration between healthcare professionals, leading to improved patient care. Local special circumstances in different regions are influencing the development of the Diagnostic Imaging Devices market. For example, in emerging economies, there is a growing need for affordable imaging devices that can cater to the large population with limited access to healthcare facilities. This has led to the development of low-cost imaging solutions that are specifically designed for resource-constrained settings. On the other hand, in developed countries, there is a focus on the replacement and upgrade of existing imaging equipment to keep up with technological advancements and ensure the highest quality of patient care. Underlying macroeconomic factors are also driving the growth of the Diagnostic Imaging Devices market. Rising healthcare expenditure, increasing prevalence of chronic diseases, and aging populations are fueling the demand for diagnostic imaging devices. Additionally, government initiatives to improve healthcare infrastructure and access to medical services are creating favorable market conditions. The growing medical tourism industry is also contributing to the demand for advanced imaging technologies, as patients from around the world seek high-quality healthcare services in different countries. In conclusion, the Diagnostic Imaging Devices market in Worldwide is developing rapidly due to customer preferences, trends in the market, local special circumstances, and underlying macroeconomic factors. The demand for advanced imaging technologies, integration with other healthcare systems, and the need for affordable solutions are driving the growth of the market. With the continuous advancement of technology and the increasing focus on healthcare infrastructure, the Diagnostic Imaging Devices market is expected to experience further growth in the coming years.

Data coverage:

Data encompasses B2B, B2G, and B2C spend. Figures are based on medical devices and IVD revenues allocated to the country where the money is spent at manufacturer price levels excluding VAT.

Modeling approach / Market size:

Modeling employs a top-down approach with a bottom-up validation, using financial information of the key players by market. Market sizes are determined by a top-down approach, based on a specific rationale for each market market and allocated to the covered countries according to the global market shares. As a basis for evaluating markets, we use relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare system, and regulations concerning medical products. Next, we use further relevant key market indicators and data from country-specific associations, such as healthcare expenditure per capita, health risk factors, healthcare payer system, and regulations concerning medical products. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, forecasts are based on historical developments, current trends, and key market indicators.

Additional notes:

Data is modeled in US$ using current exchange rates. The market is updated twice per year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Health market, in a PDF format.

Medical technology plays a role in the lives of everyone. It includes most of all, medical devices which simplify the prevention, diagnosis, and treatment of diseases and illnesses. The most well-known medical technology products are, among others, pacemakers, imaging instruments, dialysis machines, and implants. The global medical technology industry was worth over 567 billion U.S. dollars annually. Established centers of this industry include North America and Western Europe. The United States is home to the world’s largest medical technology companies. As of 2022, Abbott Laboratories had the largest global revenue at over 31.2 billion U.S. dollars. The main focus of devices manufactured by the Chicago-based company are diagnostics, cardiovascular, and diabetes care. Two other medtech companies that round off the top three largest companies –Medtronic and Johnson & Johnson – are both based in the United States. Although, industry trends show that Asia, and in particular China, is about to play a more prominent role in the years to come.