North America Diagnostic Imaging Market is estimated to reach $12.91 billion by 2021 | Market Data Forecast
The North America Diagnostic Imaging Market was
worth $9.45 billion in 2016 and estimated to be growing at a CAGR of 6.45%, to
reach $12.91 billion by 2021. Medical imaging provides the visual image of the
inside of the body for various purposes.
Diagnostic imaging has transformed the way in
which many diseases and injuries are spotted, diagnosed, and treated. This
market has applications in several medical arenas like cardiology, neurology,
and orthopaedics. Internationally, most of the industrialized nations are
spending a huge part of their GDP on healthcare necessities. The US is set to
devote almost 20% of its GDP on healthcare by 2017, a higher proportion than
any other developed country.
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The growth of the North America Diagnostic
Imaging Market is mainly driven by factors such as an increasing prevalence of
cancer and cardiac, neurological, and musculoskeletal disorders, rise in
cognizance for prompt diagnosis, rising number of diagnostic imaging
techniques, and improving healthcare infrastructure in developing markets.
However, factors such as costly procedures & equipment, side effects of
diagnostic imaging procedures and saturation in the industrialized countries
are hindering the growth of the market.
The North America Diagnostic Imaging market is
segmented based on Type and Application. The market for Diagnostic Imaging, on
the basis of type is segmented into X-Rays, Nuclear Medicine, Ultrasound, MRI,
Tomography, Photoacoustic Imaging, Thermography, Tactile Imaging, Elastography,
Functional near infrared spectroscopy, Echocardiography. Each modality is
further separated into sub segments. The X-ray and ultrasound systems market is
segmented on the basis of technology and portability respectively. The nuclear
imaging systems market is characterised into Scintigraphy, PET Imaging, and
SPECT Imaging. On the basis of Application, the Diagnostic Imaging market is
segmented into Cardiology, Oncology, Neurology, Orthopaedics, Gastroenterology,
Gynaecology, and Others. Tomography is a widely used method as it increases the
chances of cancer discovery and decreases the cases of the patient being called
for further tests. 3D imaging is anticipated to grow in all markets during the
forecast period.
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The North America market has been geographically
segmented into segmented into US and Canada. The North America market leads the
global market and is very modern and is focused on innovating cost-effective
techniques. Companies are committed to research, sourcing, and quality, factors
that are central to the success of the industry.
Companies are showing a strong interest in
enhancing image quality by developing new technologies and creating new devices
or novel techniques to achieve images with higher spatial resolution. Imaging
will continue to progress and provide an important set of tools for clinical
study, drug development, and disease diagnosis. The major companies dominating
the Diagnostic Imaging market in this region are GE Healthcare, Siemens
Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation,
Hologic Inc., Fujifilm Corporation, and Shimadzu Corporation.
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