US Diagnostic Imaging Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The United States Diagnostic Imaging Market is segmented by Product Type (MRI, Computed Tomography, Ultrasound, X Ray, Nuclear Imaging, Fluoroscopy, Mammography) and Application.

Market Snapshot

Market Snapshot1
Study Period: 2018 - 2026
Base Year: 2019
CAGR: 5.8 %

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Market Overview

The United States Diagnostic Imaging Market is expected to register a CAGR of 5.8% during the forecast period. The major factors augmenting the growth of the United States diagnostic imaging market include the rise in the prevalence of chronic diseases, increased adoption of advanced technologies in medical imaging, and rise in the geriatric population.

The burden of chronic diseases is on the rise in the United States, and medical imaging procedures play a crucial role in the accurate diagnosis of chronic diseases. The increase in the aging population and changes in societal behavior are contributing to a steady increase in these common and costly long-term health problems. According to the World Ageing 2019 report, estimated that in 2019 there were about 53.340 million (16.2%) population aged 65 years or over in the United States. This number is projected to reach 70.842 million (20.3%) in 2030. As number of elderly population is expected to increase in near future and this population are more prone to chronic conditions such as diabetes, cardiovascular and other diseases which will show positive impact on market. Thus, owing to above mentioned factors it is expected to show significant growth over the forecast period.

Scope of the report

As per the scope of the report, the diagnostic imaging market covers a wide array of medical devices used for diagnostic purposes. It has a vast range of applications in a variety of oncological, orthopedic, gastro- and gynecological fields. The United States Diagnostic Imaging Market is segmented by product type and application.

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Key Market Trends

Under Application oncology Segment is Expected to Hold Signifcant Market Share Over the Forecast Period

In the United States, increasing spending on the R&D of cancer diagnosis is expected to drive the market. The National Cancer Institute (NCI) stated that the national spending on cancer care is expected to reach USD 156 billion by 2020. According to the estimates of the American Cancer Society, in the United States, there were 1,735,350 new cancer cases diagnosed and 609,640 deaths due to cancer in 2018. The most common cancers in the United States are breast cancer, lung cancer, prostate cancer, colorectum cancer, bladder cancer, and skin cancer.

Furthermore, according to the American Cancer Society, estimated that in 2020 there will be about 1.8 million new cancer cases diagnosed and approximately 606,520 cancer deaths in the United States.

Tools, such as CT, are the highly beneficial and preferred method of imaging for many conditions, including trauma patients. Thus, considering all these factors it is expected to show significant growth over the forecast period.

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Competitive Landscape

The United States Diagnostic Imaging Market is consolidated competitive. The market players are focusing on R&D to develop the technologically advanced products in order to reduce the cost and side effects associated with the products. The barriers for the new entrants are high in this industry, and hence few major market players hold the maximum market share.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rise in the Prevalence of Chronic Diseases

      2. 4.2.2 Increased Adoption of Advanced Technologies in Medical Imaging

      3. 4.2.3 Increase in the Geriatric Population

    3. 4.3 Market Restraints

      1. 4.3.1 Expensive Procedures and Equipment

      2. 4.3.2 Side Effects of Diagnostic Imaging

    4. 4.4 Porter's Five Force Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Modality

      1. 5.1.1 MRI

        1. 5.1.1.1 Low and mid field MRI systems (less than 1.5 T)

        2. 5.1.1.2 High field MRI systems (1.5-3 T)

        3. 5.1.1.3 Very High, and Ultra High Field MRI Systems (3T and more)

      2. 5.1.2 Computed Tomography

        1. 5.1.2.1 Low End Scanners (~16-Slice)

        2. 5.1.2.2 Mid Range Scanners (~64-Slice)

        3. 5.1.2.3 High End Scanners (128-Slice and More)

      3. 5.1.3 Ultrasound

        1. 5.1.3.1 2D Ultrasound

        2. 5.1.3.2 3D Ultrasound

        3. 5.1.3.3 Others

      4. 5.1.4 X-Ray

        1. 5.1.4.1 Analog Systems

        2. 5.1.4.2 Digital Systems

      5. 5.1.5 Nuclear Imaging

        1. 5.1.5.1 Positron Emission Tomography (PET)

        2. 5.1.5.2 Single Photon Emission Computed Tomography (SPECT)

      6. 5.1.6 Fluoroscopy

      7. 5.1.7 Mammography

    2. 5.2 By Application

      1. 5.2.1 Cardiology

      2. 5.2.2 Oncology

      3. 5.2.3 Neurology

      4. 5.2.4 Orthopedics

      5. 5.2.5 Gastroenterology

      6. 5.2.6 Gynecology

      7. 5.2.7 Other Applications

    3. 5.3 By End-User

      1. 5.3.1 Hospital

      2. 5.3.2 Diagnostic Centers

      3. 5.3.3 Other End-Users

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Koninklijke Philips N.V.,

      2. 6.1.2 GE Healthcare

      3. 6.1.3 Siemens Healthineers

      4. 6.1.4 Canon Inc

      5. 6.1.5 Hitachi Medical Systems

      6. 6.1.6 Carestream Health Inc.

      7. 6.1.7 Esaote SpA

      8. 6.1.8 FUJIFILM Holdings Corporation

      9. 6.1.9 Hologic Corporation

      10. 6.1.10 Shimadzu Medical

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The United States Diagnostic Imaging Market market is studied from 2018 - 2026.

The United States Diagnostic Imaging Market is growing at a CAGR of 5.8% over the next 5 years.

Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Hitachi Medical Systems, Canon Inc are the major companies operating in United States Diagnostic Imaging Market.

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