Diagnostic Imaging Services Market Forecast to 2030
The latest market research report from Emergen Research, titled Global Diagnostic Imaging Services Market, provides estimated market size and shares, latest industry trends, global market growth rates, key drivers and opportunities, constraints, product segmentation, and major market players. Cost structure, market size, competitive landscape, product portfolio and specifications, and company profiles.
The global diagnostic imaging services market size reached USD 40.80 Billion in 2021 and is expected to register a revenue CAGR of 5.8% during the forecast period, according to latest analysis by Emergen Research. Rising prevalence of chronic diseases, increasing elderly population as well as rapid technological advancements in the healthcare diagnostic industry related to these imaging tests, including Computed Tomography (CT) scan, Magnetic Resonance Imaging (MRI), X-rays, Positron Emission Tomography (PET) scans, etc. are driving revenue growth of the market.
Increasing prevalence of chronic diseases has a significant financial impact on revenue growth of the market. According to the Centers for Disease Control and Prevention (CDC), chronic diseases such as diabetes and heart disease, which account for the majority of deaths and disabilities in the U.S., account for USD 4.1 trillion in annual healthcare spending in the country and are a major driver of revenue growth of the market. For instance, cardiovascular diseases, cancer, chronic respiratory diseases, and diabetes together accounted for 17.9 million Noncommunicable Diseases (NCDs) deaths that occur every year (1.4 million). 74% of all global deaths, or 41 million deaths each year, are caused by NCDs. According to the World Health Organization (WHO), the third leading cause of death across the globe, is Chronic Obstructive Pulmonary Disease (COPD), which includes emphysema and chronic bronchitis. A voluntary coalition of national and international organizations and agencies known as the Global Alliance Against Chronic Respiratory Diseases (GARD) supports the efforts of WHO to combat chronic respiratory and cardiovascular diseases.
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The global Diagnostic Imaging Services market report employs an extremely extensive and perceptive process that analyzes statistical data relating to services and products offered in the market. The research study is a pivotal document in understanding the needs and wants of the clients. The report is comprised of significant data about the leading companies and their marketing strategies. The Diagnostic Imaging Services industry is witnessing an expansion and change of dynamics owing to the entry of several new players.
The study outlines the rapidly evolving and growing market segments along with valuable insights into each element of the industry. The industry has witnessed the entry of several new players, and the report aims to deliver insightful information about their transition and growth in the market. Mergers, acquisitions, partnerships, agreements, product launches, and joint ventures are all outlined in the report.
Siemens Healthcare GmbH, Koninklijke Philips N.V., Shimadzu Corporation., TOSHIBA CORPORATION, Hitachi,Ltd., UNILABS, General Electric Company, Agfa-Gevaert Group., Carestream Health., and Akumin Inc
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Some Key Highlights From the Report
- The X-rays segment accounted for largest revenue share in 2021. One of the key factors driving revenue growth of the segment is rising prevalence of lung diseases, dental problems, and bone fractures. The World Health Organization (WHO) estimates that oral disease affects nearly 3.5 billion people across the globe. Around 2.4 billion people, or 36% of the world's population, have infections in their permanent teeth. Every year, globally more than 530 billion children lose their natural teeth as a result of dental caries. This method of primary detection can prevent more involved, costly procedures. As a result, rising demand for X-ray diagnostic services in hospitals is contributing to revenue revenue growth of this segment.
- The ambulatory surgical centers accounted for significantly rapid revenue CAGR in 2021 due to their time-saving functions, presence of sophisticated healthcare professionals, and affordable treatment options. According to the report, the U.S. has 5,375 Ambulatory Surgery Centers businesses as of 2022. Many outpatient surgery facilities have been constructed, independent of hospitals. These hospitals, also known as ambulatory surgical treatment centers, are focused on outpatient surgery and these facilities are now used for increasing number of emergency surgeries.
- The market in North America accounted for largest revenue share in 2021. Several key companies in this region are investing and making partnerships with other leading companies in this diagnostic imaging services, thus driving revenue growth of the market in this region. For instance, on 6 February 2020, USARAD, a company endorsed by Siemens Healthineers that uses a radiology marketplace platform to provide radiology services to over 500 medical facilities across all 50 U.S. states and 15 other countries, partnered with Innovative medical imaging technology company Nano X Imaging Ltd.
Market Overview:
The report bifurcates the Diagnostic Imaging Services market on the basis of different product types, applications, end-user industries, and key regions of the world where the market has already established its presence. The report accurately offers insights into the supply-demand ratio and production and consumption volume of each segment.
Segments Covered in this report are:
- Type Outlook (Revenue, USD Billion; 2019-2030)
- X-rays
- CT Ccan
- MRI
- Mammogram
- Ultrasound
- Fluoroscopy
- PET Scans
- Application Outlook (Revenue, USD Billion; 2019-2030)
- Orthopedics
- Neurology
- Cardiovascular and thoracic
- Obstetrics and Gynecology
- End-use Outlook (Revenue, USD Billion; 2019-2030)
- Hospitals
- Diagnostic centers
- Ambulatory surgical centers
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The research report offers a comprehensive regional analysis of the market with regards to production and consumption patterns, import/export, market size and share in terms of volume and value, supply and demand dynamics, and presence of prominent players in each market.
Regional Analysis Covers:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Furthermore, the report provides the analytical data in an organized format segmented into charts, tables, graphs, figures, and diagrams. This enables readers to understand the market scenario in an easy and beneficial manner. Moreover, the report aims to impart a prospective outlook and draw an informative conclusion to assist the reader in making lucrative business decisions. The report, in conclusion, provides a detailed analysis of the segments expected to dominate the market, the regional bifurcation, the estimated market size and share, and comprehensive SWOT analysis and Porter’s Five Forces Analysis.
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