Radiology Devices Market Analysis

The market is segmented based on product type into X-ray device, CT scanner, MRI equipment, ultrasound imaging system, nuclear imaging system, and others, out of which, the MRI equipment segment is anticipated to grab the largest share by the end of 2021 on account of increasing demand for early and accurate diagnosis along with technological advancements in the segment. Moreover, MRI equipment are widely being adopted by hospitals and imaging centers on a global scale, which is also projected to contribute to the growth of the segment during the forecast period.

On the basis of application, the hospital segment in the radiology devices market is projected to grow with a significant CAGR over the forecast period. The growth of the segment can be attributed to the fact that hospitals are early adopters of technological equipment and increasing number of radiology procedures are being performed in hospitals due to improved quality of patient care.

Our in-depth analysis of the global market includes the following segments

By Product Type	X-Ray Device CT Scanner MRI Equipment Ultrasound Imaging System Nuclear Imaging System Others
By Application	Hospitals Radiology Centers Clinics Others

Frequently Asked Questions (FAQ)

Rapidly increasing elderly population and consequent increase in prevalence of age-related diseases, along with advancement of radiological technologies are the key factors driving market growth.

The market is anticipated to attain a moderate CAGR over the forecast period, i.e., 2021-2029.

High costs associated with radiological tests and lack of necessary infrastructure in lower economic regions are estimated to hamper market growth.

The market in Asia Pacific region will provide ample growth opportunities owing to the increased spending by governmental and non-governmental agencies on improving healthcare infrastructure in the region.

The major players dominating the radiology devices market are Canon Medical Systems Corporation, Esaote SpA, GE Healthcare, and Fujifilm Holdings Corporation among others.

Radiology Devices Market Analysis