North America Diagnostic Imaging Market Trends, Size, Segment and Growth by Forecast to 2028

According to Business Market Insights’ research, the North America Diagnostic Imaging Market was valued at US$ 15,802.91 million in 2021 and is expected to reach US$ 22,392.22 million by 2028, registering an annual growth rate of 6.0% from 2021 to 2028. Burgeoning technological advancements in diagnostic imaging equipment and surging prevalence of chronic diseases.

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The List of Companies 

  1. General Electric Company
  2. Siemens Healthineers
  3. Koninklijke Philips N.V.
  4. KARL STORZ SE & Co. KG
  5. FUJIFILM Holdings Corporation
  6. Canon Inc.
  7. Hologic, Inc.
  8. Carestream Health Inc.
  9. Stryker Corporation
  10. Olympus Corporation

Chronic Disease Prevalence Drives Growth in North America's Diagnostic Imaging Market

The increasing prevalence of chronic diseases and an aging population in North America is significantly boosting the demand for diagnostic imaging technologies.  

 

Key Market Drivers:

  • High Chronic Disease Burden:
    • The Centers for Disease Control and Prevention (CDC) reports that six in ten Americans live with at least one chronic disease, including heart disease, stroke, cancer, and diabetes.  
       
    • Chronic diseases are the leading causes of death and disability in North America and contribute significantly to healthcare costs.  
       
    • In 2020, chronic diseases accounted for approximately US$ 4.1 trillion in annual healthcare costs in the US.
  • Aging Population Vulnerability:
    • Diagnostic imaging is widely used for chronic conditions prevalent in the geriatric population, as they are more susceptible.
    • JMIR Publications projects that the population aged over 60 will reach 2 billion worldwide by 2050.
  • Healthcare Innovation:
    • The rising prevalence of aging and chronic diseases necessitates healthcare innovation to improve services.  
       
    • Diagnostic imaging innovations, supported by information and communication technology (ICT), are crucial for diagnosis, treatment, and management.
    • ICT interventions address challenges associated with aging and chronic diseases.  
       
  • Osteoporosis Diagnosis:
    • Osteoporosis, a significant global health problem, increases the risk of falls, fractures, hospitalization, and mortality.  
       
    • Diagnostic imaging techniques like computed tomography (CT), magnetic resonance imaging (MRI), and ultrasound imaging enable early detection.  
       
    • MRI, for example, provides detailed information on bone pathophysiology, aiding in early diagnosis and prevention.

Market Growth Factor:

  • The combined impact of increasing chronic disease prevalence and an aging population is driving the overall diagnostic imaging market.

About Us:

Business Market Insights is a market research platform that provides subscription service for industry and company reports. Our research team has extensive professional expertise in domains such as Electronics & Semiconductor; Aerospace & Defense; Automotive & Transportation; Energy & Power; Healthcare; Manufacturing & Construction; Food & Beverages; Chemicals & Materials; and Technology, Media, & Telecommunications

Author’s Bio:

Suryakant Gadekar

Senior Market Research Expert at Business Market Insights

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