The global diagnostic imaging market size was valued at USD 26.3 billion in 2021, registering at a CAGR of 5.8% from 2022 to 2028. Medical imaging refers to the techniques and procedures used in digital health to create images of various regions of the human body for diagnostic and therapy purposes. Medical imaging includes X-ray radiography, magnetic resonance imaging (MRI), fluoroscopy, medical ultrasonography, or ultrasound, elastography, endoscopy, and thermography, among other radiological imaging procedures. It's a procedure and method for imaging the inside of a body for clinical analysis and medical intervention, as well as a visual representation of the function of certain organs or tissues (physiology). Medical imaging aims to expose interior structures that are concealed beneath the skin and bones, as well as to diagnose and cure disease. It also creates a database of normal anatomy and physiology so that abnormalities can be detected. Magnetic fields, electromagnetic radiation, and sound waves are examples of 'invisible' waves used in diagnostic medical imaging. It is used to detect diagnoses, track disease development, plan treatment, and assess treatment effectiveness. The discovery of the x-ray by Wilhelm Rontgen, a German professor of physics, in 1895 sparked the idea of medical imaging.

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The increased demand for early-stage diagnosis of chronic disease and the ageing demographics, which are predicted to boost demand for diagnostic imaging around the world, are two major reasons driving the business. Technological developments, together with government investments and money, are likely to contribute to market expansion, particularly in developing countries like India and China. Allengers, for example, launched India's first locally produced 32 slice CT scanner in January 2020. Canon Medical Systems collaborated in the system's development. Similarly, the growing demand for advanced imaging modalities by teaching hospitals and universities to provide advanced technological training is projected to have a substantial impact on market growth in the future years. This trend, which was previously restricted to affluent countries, is increasingly spreading to poorer countries as well. For example, the only certified 7T MRI equipment, Siemens Healthineers' MAGNETOM Terra, has only been installed in the United States. Another high-resolution, integrated 7T MRI/PET system was recently built in the Wohl Institute for Translational Medicine at Hadassah-Hebrew University Medical Center in Jerusalem (Israel).

The global diagnostic imaging market segmentation:

1) by modality: X-Ray Radiography, Magnetic Resonance Imaging, Compound Tomography Scanning, Ultrasound Imaging, Nuclear Imaging, Others.
 2) Application: OB/Gyn, Cardiology, Orthopedics disorders, Neurology, Others.
 3) End User: Diagnostic Centres, Research Centres, Homecare Settings.

The United States holds a significant proportion of the diagnostic imaging market, which may be ascribed to rising technical advancements, higher population affordability, and an annual increase in the number of diagnostic operations. The US Food and Drug Administration (FDA) approved Hologic Inc.'s 3DQuorum Imaging Technology, which is driven by Genius AI, for breast cancer screening in November 2019.

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Some of the major key players in the diagnostic imaging market are GE Healthcare (U.S.) Hitachi, Ltd. (Hitachi Medical Corporation) (Japan) Hologic, Inc. (U.S.) Koninklijke Philips N.V. (Philips Healthcare) (Netherlands) Siemens AG (Germany) Carestream Health (U.S.) Toshiba Corporation (Japan) Shimadzu Corporation (Japan) Fujifilm Holdings Corporation (Japan) Esaote SpA (Italy)

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