New York City, New York, August 03, 2015: Rising incidence of chronic diseases and injuries, coupled with expanding geriatric population, is driving the diagnostic imaging devices market, states Persistence Market Research in its latest report. Registering a 5.2% CAGR from 2014 to 2020, the global diagnostic imaging devices market is poised to grow from US$26,477.1 million in 2014 to US$35,793.4 million by 2020. The report is titled “Global Market Study on Diagnostic Imaging Devices: Asia-Pacific to Witness Highest Growth by 2020” and is available for sale on the company website.

Diagnostic imaging devices are used by doctors to detect, diagnose, and treat a disease or injury at an early stage and prescribe effective medical intervention. The diagnostic imaging devices market is also fueled by rising funding from government bodies, technological advancements, and growing applications of diagnostic imaging devices. Market analysts predict that increasing number of collaborations and partnerships and rising product innovation will boost the growth of the global market. On the down side, strict regulatory requirements, heightened risk of cancer owing to rising exposure to radiation, and inadequate helium for MRI systems are factors that threaten to curb the development of the diagnostic imaging devices market.

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On the basis of type, the diagnostic imaging devices market is divided into ultrasound, x-ray, computed tomography (CT) scanner, magnetic resonance imaging (MRI), nuclear imaging system, and others.

Geographically, the diagnostic imaging devices market is segmented into North America, Europe, Asia, and Rest of the World. North America is, by far, the largest market for diagnostic imaging devices, driven by numerous factors including rising health awareness, growing geriatric population, strong research and development activities, increasing prevalence of chronic diseases and injuries, and rapid adoption of advanced imaging systems.

The diagnostic imaging devices market in Europe is fueled by aging population and growing prevalence of chronic diseases and injuries. This has resulted in a subsequent increase in diagnostic requirements. The International Agency for Research on Cancer in France published a paper on Cancer Incidence and Mortality Pattern in Europe, which shows that in 2012 alone, an estimated 3.45 million new cases of cancer were diagnosed in Europe.

Asia has been identified as the most rapidly developing regional market for diagnostic imaging devices. The growth in this region is projected to be much higher than even developed countries owing to larger population base, rising awareness about the importance of early diagnosis of diseases, and improving healthcare facilities, systems, and infrastructure.

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Shimadzu Corporation, Hologic, Inc., Siemens Healthcare, Carestream Health, Inc., Hitachi, Ltd., Samsung Electronics Co., Ltd., Toshiba Corporation, General Electric Company, Koninklijke Philips N.V., and FUJIFILM Holdings Corporation are the prominent participants of the global diagnostic imaging devices market. Each of these companies is profiled in the research report based on aspects such as company overview, financial performance, products and services, and key developments.

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