Canada Diagnostic Imaging Market to be Dominated by X-Ray Imaging Solutions Segment through 2028

The increasing adoption of advanced technologies in medical imaging is expected to drive the growth of Canada diagnostic imaging market in the forecast period, 2024-2028.

According to TechSci Research report, “Canada Diagnostic Imaging Market - By Region, Competition Forecast and Opportunities, 2018-2028”, Canada diagnostic imaging market is anticipated to grow at an impressive rate in the forecast period, 2024-2028. This can be ascribed to the growing demand for early diagnosis tools for the treatment of chronic diseases along with the increasing prevalence of cardiovascular diseases across the region. Similarly, technological advancements to improve turnaround time is one of the major factors propelling the growth of Canada diagnostic imaging market over the years. Additionally, increased investment & reimbursement initiatives undertaken by the government will escalate the growth of Canada diagnostic imaging market in the coming years. Besides, increasing demand for state-of-the-art imaging modalities by teaching hospitals and universities to provide training for advanced technology will further be expected to support the Canada diagnostic imaging market growth.

However, many healthcare facilities in Canada are using outdated or aging diagnostic imaging equipment, which can result in lower image quality and accuracy, longer wait times for patients, and higher maintenance costs which can lead to a lack of competition and even higher prices for consumers. Similarly, the diagnostic imaging industry is facing a shortage of skilled workers, including radiologists, technologists, and other healthcare professionals which may hamper the Canada diagnostic imaging market growth during the forecast period. Also, reimbursement rates for diagnostic imaging services may not cover the full cost of providing these services which can further restrict the growth of Canada diagnostic imaging market.

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Canada diagnostic imaging market can be segmented by type, mobility, application, end user, and region.

Based on type, Canada diagnostic imaging market can be segmented into x-ray imaging solutions, ultrasound systems, MRI systems, CT scanners, nuclear imaging solutions, mammography, and others. The CT scanners segment dominated Canada diagnostic Imaging market in 2022 and is expected to continue maintaining its dominance throughout the forecast period. This can be ascribed to high demand for point of care (POC) CT devices and the development of a high-precision CT scanner by the integration of AI & ML and advanced visualization systems. Similarly, increased its manufacturing capacity by opening new production facilities, to meet the growing demand for advanced imaging tools are the major factors influencing the growth of Canada diagnostic imaging market during the forecast period. Based on end users, Canada diagnostic imaging market can be segmented into hospitals & clinics, diagnostic centers, ambulatory care centers, and others. The hospitals & clinics segment is expected to dominate Canada diagnostic imaging market during the forecast period on account of rising demand for advanced imaging modalities and the integration of surgical suits with imaging technologies. Rising competition and increasing demand for world-class healthcare services is expected to further boost the market.

Major companies operating in Canada diagnostic imaging market are:

·         Hologic Inc

·         GE Healthcare Canada Inc.

·         Siemens Healthcare Diagnostics Ltd/Canada

·         Carestream Health Canada Co

·         Aurora Imaging Technology Inc

·         B-K Medical Systems Inc

·         Hitachi Canada Ltd

·         FUJIFILM Medical Systems USA Inc

In April 2022, KA Imaging in Canada invested USD 1.5 million to develop a dual-energy mobile X-ray system.

In March 2022, NovaSignal Corp. announced that its NovaGuide Intelligent Ultrasound was granted a Medical Device Licence by Health Canada.

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“Canada diagnostic imaging is expected to drive the market during the forecast period due to presence of  many major key players along with growing high frequency of new product launches across the region.  Similarly, the high adoption of advanced medical imaging equipment due to favorable reimbursement scenarios and funding from market players is expected to drive the growth of the Canada diagnostic imaging market during the forecast period. Also, increasing aging population, a rise in the cases of chronic diseases, and the growing trend of preventive diagnostic practices will further propel the growth of Canada diagnostic imaging market during the forecast period. Furthermore, increasing number of local manufacturing units is a major factor influencing the growth of the Canada diagnostic imaging market over the years. Besides, the recent trends of collaborations between local and global companies are expected to create a lucrative growth of the Canada diagnostic imaging market during the forecast period”, said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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