How is Rising Prevalence of Chronic Diseases Driving North American Diagnostic Imaging Systems Market?
The human body is not immune to viruses and bacteria outside its reach, and sometimes the mutations inside the body can make one seriously ill. The prevalence of chronic diseases, such as respiratory diseases, cancer, hypertension, obesity, diabetes, oral diseases, heart disease, and arthritis, is rising all across the globe, including North America. These diseases can result in long-term disability, hospitalization, reduced quality of life, and even death. Chronic diseases account for seven out of every 10 deaths in the U.S., killing over 1.7 million Americans each year. The country further spent more than 75% of the $2 trillion spent on private and public healthcare in 2005 on chronic diseases .
While chronic diseases can be fatal in some cases, most of the time, the condition can be managed by early detection, treatment, and by improving one’s diet and exercise. The early detection of these diseases is done by making use of diagnostic imaging systems, thus, the demand of these systems in North America is increasing with the growing prevalence of chronic diseases. According to a P&S Intelligence report, the North American diagnostic imaging systems market is predicted to generate a revenue of $17.7 billion, advancing at a CAGR of 5.0% during the forecast period (2019–2024).
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There are different types of diagnostic imaging systems such as magnetic resonance imaging systems, X-ray imaging systems, ultrasound systems, computed tomography (CT) scanners, and nuclear imaging systems. X-ray systems are the easiest and fastest way of assessing and viewing bone structures, joint abnormalities, and injuries, which is why the demand for these systems is expected to be highest during the forecast period. In addition to this, as nuclear imaging systems have the ability of identifying abnormalities in the progression of a disease at its early stage, their demand is predicted to rise in the coming years.
Furthermore, the development of nuclear imaging system with low-dose ionizing radiation has been a major technological advancement in the field. These systems decrease the effect of radiation on patients and technicians. This development can improve the diagnostic imaging process of patients suffering from cancer. Apart from this, the emergence of low-dose automated CT scanners has also been a major advancement in the field, which can contribute significantly to the growth of the North American diagnostic imaging systems market. Automated CT scanners provides high-quality images with enhanced spatial resolution and doesn’t expose the patient to much radiation.