According to the Centers for Disease Control and Prevention (CDC), six in ten adults in the U.S. are suffering from at least one chronic disease like diabetes, cancer, heart disease, or stroke. Moreover, the U.S. registers 1.7 million cancer cases and approximately 600,000 deaths due to cancer, annually, making it the second leading cause of death in the nation. Besides, incidences of type-2 diabetes, cancer, cardiovascular diseases (CVDs), and chronic obstructive pulmonary disease (COPD) are increasing in North America. The rising incidences of these diseases have increased the adoption of diagnostic imaging systems in the region.
These factors along with swelling geriatric population, surging healthcare spending, and constant innovations in technology are expected to derive the North American diagnostic imaging systems market growth. The market is projected to generate $17.7 billion revenue by 2024, progressing at a CAGR of 5.0% during the forecast period (2019–2024). This growth can be primarily supplemented by initiatives taken by governments of the North American nations.
To adhere to the increasing demand for diagnostic imaging devices, companies such as Esaote S.p.A., FUJIFILM Holdings Corporation, Karl Storz GmbH & Co. Kg., Carestream Health Inc., General Electric Company, Canon Medical Systems Corporation, FUJIFILM Holdings Corporation, Dornier MedTech GmbH, Carestream Health Inc., Hologic Inc., Koninklijke Philips N.V., Esaote S.p.A., and Siemens AG, are indulging in collaborations and acquisitions. Through these strategic developments, these companies aim to improve patients’ access to novel technologies, increase market share and reach of companies, and enhance patient outcomes.
Thus, the widening portfolio of the diagnostic imaging devices is expected to propel the demand for such systems in foreseeable future. This will, in turn, help in improving the healthcare system of North America.
