Report: Global imaging market to hit $26.6B by 2016

The global diagnostic imaging market is expected to grow from $20.7 billion in 2010 to $26.6 billion by 2016, at an estimated compound annual growth rate of 4.2 percent from 2011 to 2016, according to "Global Diagnostic Imaging (CT, MRI, X-Ray & Ultrasound) Market—Competitive Landscape & Forecasts from 2010 to 2016," a report published by MarketsandMarkets.

X-ray constituted the largest percentage share of the market, with 34 percent in 2010; followed by ultrasound (21 percent), CT (19.5 percent), MRI (18.5 percent) and nuclear medicine (7 percent). With respect to geography, the market was dominated by the U.S. with a total market share of 36.3 percent in 2010, followed by Europe (27.3 percent) and Asia (27 percent).

The increasing aging population and widening applications of diagnostic imaging due to continuous developments are predominantly driving the diagnostic imaging market, according to the Dallas-based market research firm. The report also pegged increasing awareness among consumers regarding preventive care as boosting growth in the imaging market.

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