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North America Diagnostic Imaging Systems Market to Reach $17.7 Billion by 2024

Published Date:   May 2019

The diagnostic imaging systems market in North America is forecasted to generate revenue worth $17.7 billion by 2024, progressing at a CAGR of 5.0% during the forecast period. Rising technological advancements, surging geriatric population, and increasing prevalence of chronic diseases are the key factors driving the market growth, according to P&S Intelligence.

Insights into the Market Segments

X-ray imaging systems, magnetic resonance imaging (MRI) systems, ultrasound systems, computed tomography (CT) scanners, and nuclear imaging systems are the main products available in the North American diagnostic imaging systems market. Among these, nuclear imaging systems are expected to show fastest growth in the regional market during the forecast period, primarily on account of their ability to identify abnormalities in the progression of a disease at its early stage.

Based on application, the North American diagnostic imaging systems market is categorized into oncology, cardiology, neurology, orthopedics, dentistry, urology, ophthalmology, OB/GYN, and others. Diagnostic imaging systems are largely used in the diagnosis of various types of cancer. The application category is expected to hold 22.5% share in the industry in 2024. This can be mainly ascribed to technological advancements in the field of cancer diagnosis. The rise in the number of cancer cases and public awareness on the importance of early diagnosis of the disease also plays pivotal role in the growth of oncology application category.

The U.S. is the larger market for diagnostic imaging systems in North America and is expected to contribute 90.1% revenue in 2024, on account of the rising number of private diagnostic imaging centers and growing cases of chronic diseases in the country.

North American Diagnostic Imaging Systems Market to Witness Faster Growth in the U.S.

The diagnostic imaging systems market in the U.S. is expected to generate more than $15.0 billion revenue by 2024, progressing at a CAGR of 5.2% during the forecast period. Increasing incidence of life-threatening diseases and rising number of medical imaging centers are some of the major factors contributing to the growth of the industry in the U.S.

According to the World Cancer Research Fund International, the U.S. ranks 5th in the world for age-standardized rates for all types of cancer. In 2018, the age-standardized rate in the country was 352.2 per 100,000 people. The high prevalence of cancer is expected to spur the demand for advanced diagnostic imaging systems for the diagnosis of disease in its early stage.

Also, a large number of private imaging centers in the country provide traditional and advanced imaging services such as X-ray, ultrasound, MRI, and CT. According to the U.S. Census Bureau, in 2016, the country had 6,534 diagnostic imaging centers offering various medical imaging services.

Browse report overview with 98 tables and 28 figures spread through 154 pages and detailed TOC on "North America Diagnostic Imaging Systems market Research Report: By Product (X-Ray Imaging Systems, MRI Systems, Ultrasound Systems, CT Scanners, Nuclear Imaging Systems), Application (Oncology, Cardiology, Neurology, Orthopedics, Urology, Dentistry, Ophthalmology, Obstetrics/Gynecology), End User (Diagnostic Imaging Centers, Hospitals) Geographical Insight (US and Canada) - Industry Size, Share Analysis and Growth Forecast till 2024" at:https://www.psmarketresearch.com/market-analysis/north-america-diagnostic-imaging-systems-market

North America Diagnostic Imaging Systems Market - Competitive Landscape

Players operating in the North American diagnostic imaging systems market are launching technologically advanced products; thus, enabling physicians to visualize anatomy prior to surgery. One such advanced product in the market is Azurion with FlexArm, launched by Koninklijke Philips N.V. in January 2019. It is an image-guided therapy platform for patient imaging and flexibility positioning. The product makes it easier for the clinicians to perform imaging in both 2D and 3D formats. It uses illumination to enable clinicians to interact in real time with photorealistic images and visualize patient anatomy in all dimensions.

Moreover, in September 2018, Carestream Health Inc. received the USFDA 510(k) clearance for its OnSight 3D extremity system. The imaging system uses cone beam CT technology to capture weight-bearing and other types of extremity exams. Furthermore, in March 2018, Canon Medical Systems Corporation launched Vantage Orian, a wide-bore 1.5 Tesla MRI system, with new technology designed to boost productivity, improve patient comfort, and deliver diagnostic clinical confidence. Such product launches are bringing new technologies to the industry; thereby, providing high-quality imaging facilities to healthcare institutions.

The North American diagnostic imaging systems market is marked by the presence of several large players, such as General Electric Company, Koninklijke Philips N.V., Siemens AG, Shimadzu Corporation, Carestream Health Inc., Esaote S.p.A., FUJIFILM Holdings Corporation, Samsung Electronics Co. Ltd., Hologic Inc., Canon Medical Systems Corporation, DEL MEDICAL Inc., Konica Minolta Inc., Dornier MedTech GmbH, Hitachi Ltd., and Karl Storz GmbH & Co. Kg.

NORTH AMERICA DIAGNOSTIC IMAGING SYSTEMS MARKET SEGMENTATION

Market Segmentation by Product

  • X-ray Imaging Systems
    • By technology
      • Digital
      • Analog
    • By portability
      • Stationary
      • Portable
  • MRI Systems
    • By type
      • Closed
      • Open
    • By field strength
      • Mid
      • High
      • Low
  • Ultrasound Systems
    • By technology
      • Three-dimensional (3D) and four-dimensional (4D)
      • Two-dimensional (2D)
      • Doppler imaging
    • By portability
      • Trolley/cart-based
      • Compact/portable
  • CT Scanners
    • By slice
      • High
      • Mid
      • Low
  • Nuclear Imaging Systems
  • Others

Market Segmentation by Application

  • Oncology
  • Cardiology
  • Neurology
  • Orthopedics
  • Urology
  • Dentistry
  • Ophthalmology
  • Obstetrics/Gynecology (OB/GYN)
  • Others

 Market Segmentation by End User

  • Diagnostic Imaging Centers
  • Hospitals
  • Others

Market Segmentation by Country

  • U.S. Diagnostic Imaging Systems Market
    • By product
    • By application
    • By end user
  • Canada Diagnostic Imaging Systems Market
    • By product
    • By application
    • By end user