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Diagnostic Imaging Market Size is expected to reach US$ 53,410.59 Million by 2028

According to our new research study on “Diagnostic Imaging Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Modality, Application, and End User,” the market is expected to grow from US$ 36,344.54 million in 2021 to US$ 53,410.59 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The rising prevalence of chronic diseases and technological advancements in diagnostic imaging equipment drive the global diagnostic imaging market growth.

According to the Centers for Disease Control and Prevention (CDC) report, six in ten Americans live with at least one chronic disease, including heart disease and stroke, cancer, and diabetes. Chronic disease are the leading causes of death and disability in North America and stand as a leading healthcare cost. According to CDC, the leading chronic diseases accounted for almost US$ 4.1 trillion in annual healthcare costs in America in 2020.

Additionally, diagnostic imaging is widely adopted for chronic conditions of the geriatric population as the population is more vulnerable to the above chronic indications. For instance, JMIR Publications revealed that the population aged >60 is expected to rise to 2 billion by 2050 worldwide. Thus, with the increasing prevalence of aging and chronic diseases, it is essential to focus on healthcare innovation to improve health services. For example, innovation in diagnostic imaging with the support of information and communication technology (ICT) has been used in several settings that assist individuals in diagnosing, treating, and managing chronic diseases better. Also, ICT interventions in diagnostic imaging provide solutions to some of the challenges associated with aging and chronic diseases.

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Diagnostic medical imaging is a common technique to help visualize physical diagnosis in the clinical community. For diagnostic purposes, these systems are employed to image the body to obtain a correct diagnosis and determine future care. Diagnostic imaging is the technique or process of creating visual illustrations of the inner body for clinical examination and medical interpolation, along with the visual representation of the function of certain organs or tissues. 

Through the support of technological advancements, diagnostic imaging has played a crucial role in cancer diagnosis. For example, diagnostic imaging takes pictures inside of the body and has a pivotal role in diagnosing and managing cancer patients. The first method is the utilization of CT and MRI, which offers detailed information on the location, size, morphology, and structural changes of the surrounding tissues of the tumor. 

General Electric Company; Siemens Healthineers; Koninklijke Philips N.V.; KARL STORZ LTD.; FUJIFILM Holdings Corporation; CANON; HOLOGIC, Inc.; Carestream Health, Inc.; Stryker Corporation; and Olympus Corporation are among the leading companies operating in the global diagnostic imaging market.

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