The global diagnostic imaging market is expected to grow at a CAGR of 5.9% from 2020 to reach USD 36.0 billion by 2027. The growth is primarily attributed to increasing demand for early diagnosis, technological advancements, rising clinical applications, growing geriatric population and rise in funding & investments in diagnostic imaging market. However, the growth can be affected by cost factor mainly in developing countries and hospitals cuts on budget due to government reluctance. 

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The global diagnostic imaging market study provides market data for-by product (X-ray imaging systems, CT scanners, ultrasound imaging systems, MRI systems, nuclear imaging systems and mammography systems), by application (MRI systems, ultrasound systems, X-ray imaging systems, CT scanners, nuclear imaging systems and mammography systems and their respective applications), by end user (hospitals, diagnostic imaging centre and other end users). The study also evaluates industry competitors and analyses the market at a regional and country level.

CT scanners segment dominated the diagnostic imaging market in 2020 and will show similar trend in the forecast period. CT scanners will account for highest CAGR due to the growing demand for early & accurate diagnosis, high adoption of CT scanners by hospitals & other diagnostic centres and increased demand of chest CT scans for the detection of COVID-19.

By application, general radiography under X-ray segment accounted for the largest share of diagnostic imaging market in the forecast period. The growth of this segment is mainly driven by increasing demand for X-ray diagnosis. 

In 2020, Hospitals accounted for largest market share of diagnostic imaging market, by application in 2020 and expected to grow further in the forecast period. The growth is mainly related to increasing demand for advanced imaging facilities, integration of surgical suits with imaging technologies and rising number of new hospitals. 

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This research report analyses major geographies and provides a comprehensive analysis of North America (US, Canada), Europe (Germany, France, UK, Italy, Spain, and Rest of Europe), Asia-Pacific (China, India, Japan, and RoAPAC), Rest of the world (Latin America, and Middle East & Africa). North America accounted for the largest share of the global diagnostic imaging market. The large growth of this market is attributed to rising associated diseases, growing geriatric population, high adoption & easy access to diagnostic imaging and technological advancements. APAC is expected to grow at the highest rate due to rising incidence of chronic illness and high demand for advanced imaging devices.