North America Diagnostic Imaging Systems Industry Report
The North American diagnostic imaging systems market is anticipated to garner $17.7 billion revenue by 2024, growing at a 5.0% CAGR during the forecast period. The major factors driving the market growth are the rising chronic disease prevalence, technological advancements, and increasing geriatric population.
The North American diagnostic imaging systems market is classified into neurology, obstetrics & gynecology, oncology, ophthalmology, cardiology, urology, orthopedics, dentistry, and others, based on application. By 2024, the oncology category is expected to hold 22.5% share in the market. Technological advancements in the cancer diagnostics field is being considered a major influencer in this category’s growth. It is expected to perform well, due to the increasing cancer prevalence as well as awareness about the importance of early cancer diagnosis.
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Based on product, the categories of the North American diagnostic imaging systems market are computed tomography (CT) scanners, X-ray systems, magnetic resonance imaging (MRI) systems, nuclear imaging systems, and ultrasound systems. During the forecast period, the fastest growth is expected by the nuclear imaging systems category, owing to their ability to identify abnormalities in the early stage of disease progression.
As per the World Cancer Research Fund International, considering the age-standardized rate for all types of cancer, the U.S. holds the fifth rank in the world. The age-standardized rate was 352.2 per 100,000 people in the country in 2018. Owing to the rising prevalence of cancer, the early diagnosis of the disease is predicted to increase the demand for advanced diagnostic imaging systems, thereby driving the North American diagnostic imaging systems market. Traditional and advanced imaging services, such as CT, X-ray, MRI, and ultrasound, are provided by many private imaging centers. The U.S. Census Bureau mentioned that there were 6,534 diagnostic imaging centers in the country in 2016, which were providing various imaging services.
FUJIFILM Holdings Corporation, General Electric Company, Canon Medical Systems Corporation, Koninklijke Philips NV, Hitachi Ltd., Siemens AG, Karl Storz GmbH & Co. Kg, Samsung Electronics Co. Ltd., Shimadzu Corporation, and Carestream Health Inc. are some of the key players operating in the North American diagnostic imaging systems market.