The Market For Diagnostic Imaging Services Is Likely To Be Valued At US$ 1 Billion by 2032

Demand for diagnostic imaging services reached a valuation of US$ 555 Million in 2021, and is projected to reach US$ 585 Million in 2022, exhibiting a Y-o-Y growth rate of 5.4%. From 2022 to 2032, the industry is poised to grow at a CAGR of 5.51% to reach a valuation of US$ 1 Billion.

The rapidly augmenting senescent population and the resulting escalation in the incidence of related diseases, as well as soared awareness about early disease diagnosis and the expanding breadth of clinical applications are the primary factors driving the growth of this industry. However, issues such as the high cost of diagnostic imaging equipment and the shoddy reimbursement structure for outpatient imaging facilities are projected to limit the growth of the diagnostic imaging services market in the future years.

The worldwide burden of chronic diseases is increasing, and medical imaging methods play an important role in the proper identification of chronic diseases. The ageing of the population, as well as changes in cultural behavior, are all leading to an increase in these prevalent and costly long-term health concerns. Cancer, cardiovascular disease, obesity, and diabetes account for the majority of chronic illness mortality. According to GLOBOCAN, around 19.3 million new cases of cancer were recorded globally in 2020, with this figure anticipated to rise to 30.2 million by 2040. The emerging markets would be the most affected, as population growth is expected to be greatest in developing nations.

Get Sample Copy With Impact Analysis Of COVID-19 Of Market Report –https://www.factmr.com/connectus/sample?flag=S&rep_id=4752

Diagnostic Imaging Services Market Revenue Analysis 2015-2021 vs. Future Outlook 2022-2032

Diagnostic imaging is an essential component of several healthcare companies throughout the world. Imaging services serve as the foundation for the diagnosis and treatment of a wide range of chronic and infectious disorders. The need for diagnostic imaging services has been steadily increasing as the elderly population pool grows each year. The elderly are twice or three times more likely than the younger group to receive diagnostic imaging.

Diagnostic imaging is critical for recognizing life-threatening disorders such as cancer. Furthermore, diagnostic imaging can detect life-threatening viral disorders such as the recently discovered corona virus. Given the scope of the COVID-19 pandemic, a sizable proportion of the global population has been diagnosed and is receiving treatment. As a result of these developments, the ubiquitous diagnostic imaging services market is expected to grow at a CAGR of 5.51% during the projected period.

What is the Growth Outlook for Diagnostic Imaging Services in the U.S?

North America is reported to have a considerable share of the diagnostic imaging services market and is predicted to maintain this trend during the forecast period, with no noteworthy variations. A significant impact on the market analyzed is also projected as a result of the COVID-19 pandemic. Because COVID-19 is extremely infectious, the American College of Radiology (ACR), which represents over 40,000 radiologists in the United States, has issued advice that CTs and X-rays should not be used as a first-line technique to diagnose or screen for it.

The United States has the lion’s share of the diagnostic imaging services market, which may be ascribed to rising technical improvements, greater affordability rates among the population, and an increase in the number of diagnostic operations on an annual basis. Siemens Healthineers got FDA authorization for the Ysio Max digital radiography system in October 2020, which contains new detectors and usability features that improve images and speed up tests. Furthermore, the market is likely to soar during the forecast period due to the existence of well-established healthcare facilities, rising demand for improved healthcare systems among the ageing population, and rising incidence of chronic illnesses.

The rising prevalence of neurological illnesses such as brain tumors is also projected to drive market expansion. According to the National Brain Tumor Society, 700,000 persons in the United States will have a brain tumor by 2020, with an additional 87,000 projected to be diagnosed. As a result of the aforementioned reasons, the market in this area is likely to grow over the forecast period from 2022 to 2032.

Which Service Type will Leverage Diagnostic Imaging Services the Most?

CT-scans to be expanded MRI Techniques are rapidly gaining popularity

Throughout the forecast period, Computed Tomography (CT) scanning is expected to be the most popular form of diagnostic imaging technology. Key growth drivers include the capacity to discern between different density levels, depiction of tissues with thicknesses ranging from 1 to 10 millimeters, and the ability for clinicians to view 3D structures in the body.

During the projected period, the CT scanning segment is expected to grow at a CAGR of 5.6%. Following CT scans is the Magnetic Resonance Imaging (MRI) category, which is expected to increase at a CAGR of 5.4% during the forecast period. The capacity to provide clear pictures without using ionizing radiation is a critical growth factor for MRI scanning. It can also detect chemical and structural changes in body structure. It also does not employ harmful radiation, such as X-rays, to generate 3D pictures.

Speak To Research Analyst For Detailed Insights: https://www.factmr.com/connectus/sample?flag=AE&rep_id=4752

Competitive Landscape

The worldwide diagnostic imaging services industry is highly concentrated, with only a few service providers present. Companies that provide diagnostic imaging services concentrate on facility acquisition and joint venture development in order to grow their geographic footprint, notably in North American nations. Partnerships enable service providers to work with great radiologists who have been providing patient-centered care in specific locations to serve a larger number of patients. Furthermore, the emphasis remains on the establishment of additional diagnostic facilities with high-end diagnostic imaging modalities in order to meet the expanding demand. The key market players are:

• RadNet, Inc.
• Alliance Healthcare Services, Inc.
• I-MED Radiology Network (Permira)
• Sonic Healthcare

Key Segments Covered in the Diagnostic Imaging Services Industry Report

By Service Type

• Service Type
• Diagnostic Radiology
• Ultrasound
• Computed Tomography
• Magnetic Resonance Imaging
• Nuclear Imaging
• Others

By Service Provider

• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers
• Others

By Region

• North America
• Europe
• Asia Pacific (APAC)
• Latin America
• Middle East & Africa (MEA)

Get Full Access of this Report through our PayPal Payment Optionhttps://www.factmr.com/checkout/4752

About Us:

Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.

Contact:

US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583

Email: sales@factmr.com
Visit Our Website: https://www.factmr.com