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The Market Value of the Global Diagnostic Imaging Market (2017 - 2025, USD Million)

Industry: Medical Devices
Current: Market Sizing & Shares

The Market Value of the Global Diagnostic Imaging Market attained a value of USD 27,969.53 Million in 2020
The Market recorded a historical growth (CAGR) of 4.76 % between 2017 to 2020, and is expected to grow by...
GlobalData projects the Market to grow at a CAGR of ...

The Market Value of the Global Diagnostic Imaging Market (2017 - 2025, USD Million)

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Supported by the growing need to diagnose & estimate the impact of the COVID-19 virus on the body, the Global Diagnostic Imaging device industry recorded a single-digit growth rate in 2020. Diagnostic imaging devices are used for the visualization of structural and functional patterns of organs or tissues. Angio Suites, Bone Densitometers, C-Arms, Computed Tomography Systems, Contrast Media Injectors, Mammography Equipment, MRI Systems, Nuclear Imaging Equipment, Ultrasound Systems, Contrast Agents and X-ray Systems are key segments covered under this market.

Computed Tomography (CT) Systems: An essential device during the COVID-19 pandemic

CT systems remain the gold standard for diagnosing and monitoring respiratory diseases. With the increasing prevalence of COVID-19, the global market value of diagnostic imaging devices continues to grow as physicians continue to rely on standard diagnostic techniques.

CT systems are in high demand due to their capability for clear imaging of the lungs. In 2020, CT devices was the largest segment of the diagnostic imaging industry.

MRI Systems: The second-largest market segment by value

MRI Systems was the second-largest segment of the diagnostic imaging device market in 2020. Magnetic Resonance Imaging (MRI) utilizes radiofrequency and a strong magnetic field to generate clear and detailed images of internal organs and tissues. MRI is generally preferred for the diagnosis of brain and other neurological disorders.

Ultrasound System: The third-largest market segment by value

Ultrasound Systems was the third-largest segment of the diagnostic imaging device market in 2020. Ultrasound systems are devices that make use of sound waves of high frequency to produce images of structures inside the body. Most of the devices uses SONAR principles and are placed outside while in a few cases they are even placed inside of the body.

Global diagnostic imaging market fragmentation:

GE Healthcare, Siemens Healthineers, and Philips Healthcare secured the top three spots in the global diagnostic imaging market; the three companies covered more than 60% of the market. Canon Medical Systems, Bracco Imaging, Bayer are some of the other significant players in the industry.