(EMAILWIRE.COM, July 20, 2018 ) Factors such as increasing investments, funds, and grants by government bodies and public-private organizations for modernization of imaging facilities; growth in the number of diagnostic imaging centers; rising prevalence of cancer; increasing geriatric population and the subsequent growth in the incidence of various diseases; and technological advancements in diagnostic imaging modalities are driving the growth of the diagnostic imaging market across the globe.

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Geographically, the diagnostic imaging market is segmented into North America, Europe, Asia-Pacific, and RoW. Among the four geographic regions, North America is estimated to command the largest share of the diagnostic imaging market in 2016, followed by Europe and Asia-Pacific. Emerging diagnostic imaging markets (including India, China, Brazil, Mexico, and South Africa) have become attractive destinations for companies engaged in the development and marketing of diagnostic imaging products. Increasing incidence and prevalence of various chronic diseases like cancer is among the major driving factors for the growth of the diagnostic imaging market. For instance, according to the World Cancer Report 2014, China is witnessing an alarming rise in cancer incidences it saw an estimated 3.07 million new cancer cases in 2012, accounting for 21.8% of the global new cancer cases. As many as 2.2 million cancer deaths (26.9% of global cancer deaths) were reported in this country in the same year. In addition to this, growing awareness about early diagnosis, huge population base, especially in India and China, and technological advancements by key players are key factors propelling the demand for diagnostic imaging systems in these markets.

In 2015, GE Healthcare (U.S.) held the leadership position in the diagnostic imaging market. Over the past three years, the company adopted product launches and upgrades as its key business strategies to ensure its dominant position in this diagnostic imaging market. Besides GE Healthcare, Siemens Healthcare GmBH (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Medical Systems Corporation (Japan), Hitachi Ltd. (Japan), and Shimadzu Corporation (Japan) are some of the other key players in the diagnostic imaging market.

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