Diagnostic Imaging Services Market- Overview
The Diagnostic Imaging Services Market is valued at USD 553.66 billion in 2022 and is projected to reach a value of USD 860.8 billion in 2030 expanding at a CAGR of 5% over the forecast period of 2022-2030. The diagnostic imaging is defined as a critical component of many healthcare industries around the world. The Imaging services are mainly used to diagnose and treat a wide range of chronic as well as infectious diseases. The diagnostic imaging services generally 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 few of the diagnostic imaging services that are available. Also, the visual representation of detailed imaging of human body parts has significantly improved overall treatment and success rate and as a result, the diagnostic Imaging services market has grown at a faster rate during the forecast period.
Diagnostic Imaging Services Market- Growth Factors
Every market has its growth determinant and challenges. One of the major factor that has fuelled the market growth over the forecast period is the geriatric population pool growing each year. This is because 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. Also, the diagnostic imaging can detect life-threatening infectious diseases such as the recently discovered coronavirus. This has thus, boosted the market growth over the forecast period. Also, the rising demand for advanced assessment tools in emergency departments and an increase in the number of ambulatory emergency care units has been driving the diagnostic imaging services market growth over the forecast period. The growing adoption of CT scans for lung cancer screening and the rise in the various end-use applications of CT scans are also driving the demand for diagnostic imaging services during the forecast period.
Diagnostic Imaging Services Market- Market Trends
The market is driven by the increasing demand for early and accurate diagnosis, as well as an increase in treatment awareness among the general public over the forecast period. Also, the medical science technological advances and discoveries that are efficient and precise have contributed to the market's growth.
Also, the rise in technical improvements in imaging equipment is another driving factor that is predicted to contribute significantly to the global diagnostic imaging services markets growth over the forecast period. The introduction of open diagnostic imaging services that aids in the effective medical imaging of overweight patients, is one of the technological achievements.
Diagnostic Imaging Services Market- Segmentation
The Diagnostic Imaging Services Market is segmented into modality and end-use.
Based on Modality
X-ray
Nuclear Medicine Scans
MRI Scans
CT Scans
Ultrasound
Based on End Use
Hospitals
Diagnostic Imaging Centres
Diagnostic Imaging Services Market- Regional Segmentation
The Diagnostic Imaging Services Market is segmented into 4 main regions namely, North America, Europe, Asia Pacific, and Middle east and Africa. Among these, North America has dominated the regional segment of the market over the forecast period. This is because of the rising prevalence of chronic diseases that includes, cancer, diabetes, arthritis, and other chronic disorders, which has created profitable growth prospects for the diagnostic imaging services market in the region.
Diagnostic Imaging Services Market-Key Market Players
Some of the prominent companies operating in the market are Global Diagnostics, RadNet, Inc, Alliance Medical, Center for Diagnostic Imaging, Inc, Medica Group, Novant Health, Concord Medical Services Holdings Limited, InHealth Group, Sonic Healthcare, and Healthcare Imaging Services Pty Ltd.
Report scope
Diagnostic Imaging Services Market : Historical Years- 2018-2021
Diagnostic Imaging Services Market : Forecast Years- 2022-2030
Diagnostic Imaging Services Market 2022- USD 553.66 billion
Diagnostic Imaging Services Market CAGR- 5%
