Diagnostic Imaging Equipment Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast The global diagnostic imaging equipment market size is estimated to register a significant CAGR during the forecast period, 2021–2028. The growth of the market is attributed to the increasing technological advancements, growing focus on medical imaging equipment, and rising geriatric population with a relatively weaker immune system.
Diagnostic imaging equipment refers to the range of devices using variety of procedures for looking into the body to determine the source of a disease or damage and confirm a diagnosis. It is also used by doctors to assess how well a patient's body responds to fracture or sickness therapy. Moreover, diagnostic imaging equipment allows doctors to see inside the human body to see if there are any signs of a health problem. Some devices and procedures can generate images of human body's activities and structures. Based on the body part being examined and symptoms, doctor decides which type of medical imaging tests are required for the treatment.
Market Trends, Drivers, Restraints, and Opportunities
Rising government funding relating to diagnostic imaging studies and growing patient awareness levels concerning early-stage diagnosis are expected to boost the market growth. High demand for efficient & effective imaging technologies for diagnosis and rapidly changing urban lifestyle are some of the key factors fueling the market expansion. Growing cases of chronic diseases such as cardiovascular disorder, cancer, gastrointestinal ailments, and various genetic mutations are required of advanced imaging equipment. This is estimated to propel the market growth in the coming years. High costs involved in manufacturing imaging devices and side effects of releasing radiations are major challenging factors of the market. This is expected to hamper the market growth.