The diagnostic equipment global market, one of the segments of healthcare services industry. During the historic period it grew at a compound annual growth rate (CAGR) of around 6%. This was mainly due to the increased spending in healthcare and advancement in technology
For the forecasted period, the diagnostic equipment market size is expected to be around $50 billion by 2021, growing at a CAGR of nearly 3.60%. The growth rate for forecasted period is lower when compared to the historic period. This is mainly attributed to increased rate of interest and rising cost of heavy medical equipment.
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X-ray Systems was the largest segment in the Diagnostic Equipment market with a 40% share of the market. This was mainly driven by growing aging population, changing lifestyles, technology advancements, and increase in incidences of cancer and orthopedic diseases. Ultrasound Systems was the second largest segment with 21% share of the Diagnostic Equipment market, however Nuclear Imaging Devices was the smallest segment with just 4% share of the market.
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