The global diagnostic imaging services market size was valued at USD 500 billion in 2022 and is expected to hit over USD 841.98 billion by 2032 and poised to grow at a CAGR of 5.40% over the forecast period 2023 to 2032.
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The U.S. diagnostic imaging services market size reached USD 129.50 billion in 2022 and is predicted to expand around USD 218.07 billion by 2032, growing at a CAGR of 5.40% between 2023 to 2032.
North America dominated the diagnostic imaging services market in 2022. The rising prevalence of chronic diseases such as cancer, diabetes, arthritis, and other chronic disorders has created profitable growth prospects for the diagnostic imaging services market.
Asia-Pacific, on the other hand, is expected to develop at the fastest rate during the forecast period. The growing number of diagnostic imaging system market players and companies in the region is boosting the diagnostic imaging services market’s overall growth.
The diagnostic imaging is a critical component of many healthcare industries around the world. Imaging services are used to diagnose and treat a wide range of chronic and infectious diseases. The diagnostic imaging services entail the diagnosis and generation of images of various parts of the human body, with the goal of better understanding the patient's condition. CT scans, X-rays, MRI, ultrasonic, and endoscopy are just a few of the diagnostic imaging services available. The visual representation of detailed imaging of human body parts has significantly improved overall treatment and success rate. As a result, the diagnostic Imaging services market is expected to grow at a faster rate during the forecast period, owing to rising public awareness of the importance of early detection of health problems.
The demand for diagnostic imaging services has been steadily increasing as the geriatric population pool grows each year. The elderly is twice or three times more likely than the younger population to undergo diagnostic imaging. The diagnostic imaging is critical for detecting life-threatening diseases such as cancer. Furthermore, diagnostic imaging can detect life-threatening infectious diseases such as the recently discovered coronavirus.
The new models for therapy and diagnosis are being developed to provide precise results, aid in disease detection, and reduce the cost of treating these diseases. People are becoming more capable of accessing imaging procedures for early disease detection as their disposable income rises.
|US$ 841.98 Billion by 2032
|CAGR of 5.40% from 2023 to 2032
|Fastest Growing Market
|2023 to 2032
|Modality, End User, Region
|Global Diagnostics, RadNet, Inc, Alliance Medical, Center for Diagnostic Imaging, Inc, Medica Group, Novant Health, Concord Medical Services Holdings Limited, InHealth Group, Sonic Healthcare, Healthcare Imaging Services Pty Ltd.
The diagnostic imaging services market is being driven by an increase in demand for early and accurate diagnosis, as well as an increase in treatment awareness among the general public. the medical science technological advances and discoveries that are efficient and precise are contributing to the market's growth.
The rising demand for advanced assessment tools in emergency departments, as well as an increase in the number of ambulatory emergency care units, is expected to drive diagnostic imaging services market growth. The growing adoption of CT scans for lung cancer screening and the rise in the various end-use applications of CT scans are expected to drive demand for diagnostic imaging services during the forecast period.
The research laboratories, academic institutes, physicians, and hospitals are all interested in advances in medical resonance imaging techniques including open architecture, superconducting magnets, and software applications. Furthermore, the introduction of medical resonance imaging compatible pacemakers will vastly expand the number of patients who are eligible for medical resonance imaging equipment in developed markets such as North America and Europe. The advent of medical resonance imaging scanners with bigger patient bores and the replacement of current medical resonance imaging systems that have attained optimum use are the primary factors driving the growth of the diagnostic imaging services market during the forecast period.
To operate complex and sophisticated diagnostic imaging devices, a significant level of technical ability is necessary. With the evolution of diagnostic imaging systems, technicians are necessary to apply machine learning to convolutional neural networks, recurrent neural networks for image segmentation and analyzing multiple images at the same time with better accuracy.
The diffusion tenor imaging with tractography, perfusion imaging, neuroimaging, and functional imaging employing the strong technique are projected to promote the diagnostic imaging services market growth throughout the forecast period. Moreover, throughout the projected period, the increased development of intraoperative medical resonance imaging and its use in various applications such as neurosurgery is expected to boost the diagnostic imaging services market expansion.
The rising technical improvements in imaging equipment are another key driving factor that is predicted to contribute significantly to the global diagnostic imaging services market’s growth. The introduction of open diagnostic imaging services, which aids in the effective medical imaging of overweight patients, is one of the technological achievements. The improvements in field strength and computing capability of imaging equipment are also part of the technical advancements. Due to the advancements in the equipment’s pulse sequences, this has resulted in faster imaging timings, higher spatial resolution, and improved imaging quality.
In 2022, X-ray had the highest market share of the diagnostic imaging services market. For numerous tests and operations, X-ray is one of the most popular main medical imaging modalities. This service provides noninvasive disease diagnosis and monitoring, as well as assistance in surgical treatment planning.
On the other hand, the CT scan segment is expected to expand significantly during the forecast period. This imaging modality’s primary benefit is that it allows for simultaneous detailed imaging of blood vessels, bone, and soft tissues.
Due to the rising prevalence of various ailments such as cancer and cardiac disorders, hospitals dominate the diagnostic imaging services market in 2022.
On the other hand, the diagnostic imaging centers is expected to grow at a rapid pace. The overall growth of the segment is projected to be influenced by the availability of several imaging modalities in a single facility and reimbursement policies for imaging operations.
One of the important current trends in the diagnostic imaging services market is the increasing number of product launches in the high strength categories, which is accompanied by a rise in the adoption of these high strength systems. The high strength imaging equipment has been developed and commercialized as a result of technological advances, which is driving the growth of the diagnostic imaging services market.
Segments Covered in the Report
By End Use
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