Diagnostic Imaging Market Trends

Growth Drivers

• Rising Advanced Diagnostic Imaging Technology Systems - One of the major factors contributing to growth in this market is the introduction of modern technology devices and a growing healthcare industry in Asia. For instance, in May 2020 Fujifilm Corporation launched a new technology based on artificial intelligence to detect lung nodules. In order to assist in lung cancer diagnosis, this technology is used for detecting pulmonary nodules during CT scans of the chest.

• Rising Geriatric Population — The elderly population is more prone to chronic and age-related diseases such as Alzheimer, Parkinson's, and arthritis, and the rising need for the elderly population to get diagnostic imaging is estimated to drive market growth.

• Increasing Al Enabled Medical Imaging Equipment - One of the most important factors that are expected to contribute to a growing product demand for medical imaging and visualization system during the forecast period is an increased use in developed countries of automated instruments capable of rapid diagnosis and analysis. For instance, in December 2020, Hologic Inc. announced that the United States Food and Drug Administration has approved its Genius Al detection technology to detect breast cancer at an earlier stage.

Challenges

• Increasing Product Recalls – The increasing product recalls associated with diagnostic imaging is one of the major factors predicted to slow down the market growth.

• Technical Limitations associated with standalone imaging modalities

• Lack of skilled and trained professionals is expected to hamper the market growth