Diagnostic imaging market set to eclipse $33 billion by 2020

A new report predicts substantial growth for the global diagnostic imaging market over the next five years, with the market expected to top $33.4 billion by the year 2020.

The report, published by market research firm MarketsandMarkets, analyzed major growth factors, limitations, opportunities and other issues affecting the imaging market.

“A number of factors such as rising prevalence/incidence of cancer and cardiac, neurological, and musculoskeletal disorders; rise in awareness for early diagnosis; and growing number of diagnostic imaging procedures have increased the demand for imaging systems in healthcare facilities across the globe,” a “Moreover, improving healthcare infrastructure in emerging markets and low-cost, technologically advanced imaging systems with applications in multiple fields are further stimulating the demand for diagnostic imaging, globally.”

North America currently holds the largest share of the global market, though the diagnostic imaging market in Asia is expected to experience the most growth between 2015-2020.

View the full report here.