Constant Innovation Drives Global Diagnostic Imaging Devices Market

Medicine is one of the fields that have always been characterized by innovation, and diagnostic imaging technologies have undergone major transformations to develop newer and more precise diagnostic imaging devices that help diagnose, screen, monitor, and treat diseases with increasing efficiency.

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This year alone, the diagnostic imaging devices market witnessed a number of innovations that will, in the long run, boost the demand for these devices as well as the overall growth of the market. Let us revisit some of the interesting developments in diagnostic imaging devices.

  • Scintillator Detector with Integrated Nanophotonics: Scintillators are used in certain biomedical imaging procedures such as neurological imaging. Scintillator detectors with integrated nanophotonics will not only improve the efficiency of light extraction and control of directional light emission, but will also allow for lower doses and higher energy, timing, resolution, and position medical imaging applications.

  • Pocket-size Ultrasound Device: Patient examination conducted with the use of pocket-size diagnostic imaging devices improves the accuracy of the test and the overall capability of the practitioner. Undergoing research in Norway uses a pocket-sized imaging device for a more goal-targeted ultrasound examination.

  • Motion Technology: The use of advanced motion technology in diagnostic imaging devices makes them increasingly reliable. Modern planetary gearheads are enabling diagnostic imaging devices such as CT scanners in becoming more convenient for the patients and more precise and powerful in use.

  • Magnetic Field Detector: A team of researchers at MIT have designed a hyper-sensitive magnetic field detector, in the shape of a small synthetic diamond, that doctors hope could enhance diagnostic imaging devices.

  • Medical Image Analysis Software: Microsoft Research Cambridge, together with Microsoft Amalga, is developing the Medical Image Analysis software that will make the diagnosis and treatment of diseases more hands on, but from afar. The results and effectiveness of diagnostic testing will be much more enhanced.

There are a number of factors that govern the growth of the diagnostic imaging devices market. Here’s a look at some of the key growth stimulants and challenges:

Forces Fuelling Diagnostic Imaging Devices Market

  • Growing prevalence of injuries and chronic diseases such as tuberculosis, cancer, and cardiovascular diseases

  • Rise in global aging population

  • Surge of technological advancements

  • Increasing government support and funding

  • Widening application of diagnostic imaging devices

  • Increased awareness among patients regarding the significance of early diagnosis

  • Focus on product innovation

  • High number of partnerships and alliances in the field.

Factors Hindering Diagnostic Imaging Devices Market

  • Exposure to radiation and consequent risk of cancer

  • Short supply of helium used in MRI systems

  • Stringent regulatory requirements

  • Lengthy trials and research phases

  • Storage of massive amounts of data and scans.

Diagnostic Imaging Devices: What the Market Looks Like

Research and analysis shows that the global diagnostic imaging devices market has grown significantly in recent years and stands to develop at a compound annual growth rate of 5.2% from 2014 to 2020. The value of the diagnostic imaging devices market last year was US$26,477.1 million and by 2020, this market is estimated to reach US$35,793.4 million.

The global diagnostic imaging devices market can be segmented on the basis of technology and type. X-ray, computed tomography (CT) scanner, ultrasound, magnetic resonance imaging (MRI), and nuclear imaging system are some of the major types of diagnostic imaging devices, with x-ray dominating the overall market. By technology, the market is broken down into 2D systems, 3D and 4D systems, Doppler system, and others. Geographically, the global diagnostic imaging devices market is categorized into three main regions: North America, Europe, and Asia Pacific, with North America in the clear lead.

Players that have a significant presence in the market for diagnostic imaging devices include Toshiba Medical Systems Corporation, Philips Healthcare, Siemens Healthcare, GE Healthcare, Hologic, Inc., Carestream Health, Hitachi Medical Corporation, and Shimadzu Corporation.

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