Diagnostic Imaging Services Market Size is Expected to Reach US$ 544.7 Bn by 2031, Rising at a Market Growth of 4.1% CAGR During the Forecast Period 2022-2031 | Transparency Market Research Inc.

Wilmington, Delaware, United States, 2024-Mar-07 — /EPR Network/ — Transparency Market Research Inc. –

The global diagnostic imaging services market, valued at US$ 363.6 billion in 2021, is expected to grow at a CAGR of 4.1% from 2022 to 2031. By the end of 2031, it is anticipated to surpass US$ 544.7 billion.

The rise in adoption of diagnostic imaging is a key driver for market growth. CT scan technology is widely used for diagnosing various chronic diseases. Integration of advanced technologies such as Artificial Intelligence (AI), 3D imaging, diagnostic wearables, and remote reading solutions has significantly enhanced diagnostic efficiency. AI in diagnostic imaging enables quicker scans and provides valuable insights into diseases. Advancements in hardware miniaturization, AI, and computer vision have made diagnostic imaging more mobile. Companies in the market are focusing on reducing diagnosis costs to expand their market share.

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Diagnostic imaging services are used to monitor and diagnose any medical condition. Different types of diagnostic imaging services include X-ray imaging procedures, MRI scans, CT scans, ultrasounds, and nuclear imaging. Diagnostic radiology and digital mammography are used in diagnostic imaging centers for cancer diagnostics.

Key Players:

RadNet, Inc., Center for Diagnostic Imaging (CDI), MedQuest Associates, Inc., Siemens Healthineers, Hitachi, Ltd., Carestream Health, Koninklijke Philips N.V., GE Healthcare, Shimadzu Corporation, and Dignity Health (CommonSpirit Health).

Market Segmentation:

  • By Imaging Modality
    • X-ray
    • Magnetic Resonance Imaging (MRI)
    • Ultrasound
    • Computed Tomography (CT)
    • Nuclear Imaging
    • Others
  • By Application
    • Cardiology
    • Gynecology/Obs
    • Oncology
    • Orthopedics & Musculoskeletal
    • Neurology & Spine
    • General Imaging
  • By End-user
    • Hospitals
    • Ambulatory Surgical Centers
    • Diagnostic Centers
    • Others

Key Developments:

  • In 2021, Philips N.V. introduced Spectral CT 7500, a new upgrade of CT that is primarily used for precision diagnosis
  • In 2020, GE Healthcare released its version of the simplified POCUS system, which is regarded as the first AI-enabled system for cardiac diagnostics
  • In November 2018, Akumin Inc. acquired four outpatient diagnostic imaging facilities in Broward County and one imaging center in Florida from Diagnostic Professionals Inc. to expand its regional presence in mid and south Florida

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Regional Outlook:

North America(USA, Canada and Mexico)
Europe(UK, Germany, France and the Rest of Europe)
Asia Pacific(China, Japan, India, and the Rest of the Asia Pacific region)
South America(Brazil, Argentina and the Rest of South America)
Middle East and Africa(GCC and Rest of the Middle East and Africa)

Market Trends:

Emerging trends in the diagnostic imaging services market include the adoption of artificial intelligence (AI) for image interpretation, the integration of imaging modalities with electronic health records (EHRs), and the development of portable and handheld imaging devices for point-of-care diagnostics.

Future Outlook:

The diagnostic imaging services market is poised for significant growth in the coming years, driven by ongoing technological innovations, increasing demand for personalized medicine, and expanding applications in emerging economies. However, market players need to focus on addressing regulatory challenges and ensuring affordability and accessibility of diagnostic imaging services.

Key Market Study Points:

  • Market size and growth projections
  • Market segmentation analysis
  • Regional analysis
  • Market drivers and challenges
  • Market trends and future outlook
  • Competitive landscape and recent developments

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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.

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