USD 553.66 billion
Global Diagnostic Imaging Services Market Size, Share, Growth Analysis, By Modality(X-ray, ultrasound), By Application(Cardiology, oncology), By End-use(Hospitals, diagnostic imaging centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2174 |
Region:
Global |
Published Date: February, 2024
Pages:
260
|
Tables:
94 |
Figures:
76
Global Diagnostic Imaging Services Market Insights
Diagnostic Imaging Services Market size was valued at USD 553.66 billion in 2019 and is poised to grow from USD 581.34 billion in 2023 to USD 860.8 billion by 2031, growing at a CAGR of 5% in the forecast period (2024-2031).
In order to diagnose a condition, diagnostic imaging is used to take images of the bones and internal body anatomy. X-rays, ultrasounds, CT and MRI scans, and nuclear medicine scans are a few types of diagnostic radiology. Modern models of therapy and diagnosis are being developed to produce precise results, assist in the diagnosis of illness, and lower the cost of treating some diseases. With more money available to them, people are better able to access imaging technologies for diagnosing illnesses early on. The field of medical imaging has also advanced quickly as a result of developments in digital and communication technologies. The objective is to increase accessibility and accuracy, lower costs, and lessen radiation's negative effects. Moving away from fixed equipment and toward portable equipment is the current trend. Due to growing public recognition of the significance of early detection of health conditions, the diagnostic Imaging services market is projected to expand at a faster rate during the forecast period. However, unfriendly reimbursement structures for outpatient imaging facilities in low-income countries are expected to restrict market growth.
US Diagnostic Imaging Services Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
X-ray
Fastest Growth
X-ray
Growth Rate
5% CAGR
Global Diagnostic Imaging Services Market($Bn)
Country Share for North America Region (%)
Global Diagnostic Imaging Services Market size by Modality($Bn)
Global Diagnostic Imaging Services Market size by Modality($Bn)
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Global Diagnostic Imaging Services Market Segmental Analysis
Global diagnostic imaging services market is segmented based on the modality, application, end-use, and region. Based on modality, diagnostic imaging services market is segmented into X-ray, ultrasound, MRI scans, CT scans, and others. Based on application, the diagnostic imaging services market is segmented into cardiology, oncology, gynecology/obs, orthopedics & musculoskeletal, and others. Based on end-use, the diagnostic imaging services market is segmented into hospitals, diagnostic imaging centers, and others. Based on region, Diagnostic Imaging Services Market is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Diagnostic Imaging Services Market Analysis by Modality
Based on modality, global diagnostic imaging services market is segmented into X-ray, ultrasound, MRI scans, CT scans, and others. The X-ray segment accounted for the largest share of the diagnostic imaging services market in 2021, and is anticipated to increase the segment growth during the forecast period owing to the increasing prevalence of lung diseases, increasing number of bone fracture cases, dental disorders have accelerated the adoption of X-ray imaging procedures.
Due to technological advancements and an increase in clinical applications globally, the CT scans segment is likely to expand at a rapid pace over the forecast period. It is a technique that uses computerised X-ray imaging to create cross-sectional images of the body, allowing doctors to see various parts of the body in precise detail.
Diagnostic Imaging Services Market Analysis by End-Use
Based on end-use, the diagnostic imaging services market is segmented into hospitals, diagnostic imaging centers, and others. The hospitals held the largest diagnostic imaging services market share in 2021, and this dominance is expected to continue in the forecasting years, owing to the increasing implementation of 3D imaging technology, the increased adoption of minimally invasive procedures, and ongoing collaboration with industry players to adopt diagnostic imaging solutions.
Because of the presence of various imaging modalities in a single facility and reimbursement policies for imaging operations, diagnostic imaging centers are expected to grow rapidly during the forecast period.
Global Diagnostic Imaging Services Market size by Modality, 2023 (%)
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Global Diagnostic Imaging Services Market Regional Insights
North America dominated the diagnostic imaging services market in 2021, and is also expected to maintain its dominance during the forecast period due to the rising prevalence of chronic diseases such as cancer, diabetes, arthritis, and other chronic disorders, as well as technological advancements. The regional market growth can be attributed to the growing usage of low-dose automated CT scanners. Because of the high rate of chronic diseases in the country, the United States is likely to dominate the market in North America in the near future. According to a study conducted by the Centers for Disease Control and Prevention, over 80% of older people in the United States have at least one chronic condition.
During the forecast period, Asia-Pacific is expected to grow at the fastest rate owing to the high proportion of diagnostic imaging system major players and companies boosting the exponential development of the diagnostic imaging services market. China, India, and Japan each hold sizable market shares in the region. The market in Asia Pacific is being driven by the expansion of manufacturing facilities for diagnostic imaging tools and equipment, significant growth in the healthcare and medical tourism industries, and an increase in the adoption of new diagnostic imaging services.
Global Diagnostic Imaging Services Market Size By Geography, 2024-2031
- Largest
- Fastest
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Global Diagnostic Imaging Services Market Dynamics
Diagnostic Imaging Services Market Driver
- As the elderly population grows each year, so does the demand for diagnostic imaging services. Diagnostic imaging is two or three times more likely in the elderly than in the younger population. They are predisposed to a variety of chronic diseases, including cancer, kidney disease, spinal disorders, and cardiovascular disease. According to the National Institutes of Health, patients over the age of 65 have diagnostic imaging done at twice or more than the rate of younger people. This increases demand for diagnostic imaging services.
Diagnostic Imaging Services Market Restraint
- Diagnostic imaging systems are expensive to buy and install. Healthcare facilities, particularly outpatient imaging centres, that purchase such expensive systems frequently rely on external payers to recoup the costs incurred in diagnostic and screening procedures performed with these systems. As a consequence, factors such as ongoing reductions in diagnostic imaging scan reimbursements and the rising cost of diagnostic imaging systems are restricting small and medium-sized imaging facilities from making investments in technologically advanced diagnostic imaging modalities, impeding the growth of the market over the analysis period.
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Global Diagnostic Imaging Services Market Competitive Landscape
Global diagnostic imaging services market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D.
Diagnostic Imaging Services Market Top Player's Company Profiles
- Siemens Healthineers AG
- GE Healthcare
- Koninklijke Philips N.V.
- Fujifilm Holdings Corporation
- Canon Inc.
- Hitachi, Ltd.
- Carestream Health, Inc.
- Hologic, Inc.
- Agfa-Gevaert N.V.
- Samsung Medison Co., Ltd.
- Shimadzu Corporation
- Esaote SpA
- Bracco Imaging SpA
- Mindray Medical International Limited
- CurveBeam LLC
- Planmed Oy
- Terarecon, Inc.
- ContextVision AB
- SonoScape Medical Corp.
- Analogic Corporation
Diagnostic Imaging Services Market Recent Developments
- In November 2022, Fujifilm Healthcare Americas Corporation, a leading provider of diagnostic and enterprise imaging solutions, produces the SCENARIA View Focus Edition CT Scanner with Cardio StillShot, a new Cardiac Motion Correction feature.
- In November 2022, Orlando Health Cancer Institute launches the Pancreatic Cancer Multidisciplinary Clinic (PMDC), a new experience in the treatment of pancreatic cancer that will provide patients access to all of the resources they need at one site on a single day.
Global Diagnostic Imaging Services Key Market Trends
- Increasing introduction of open diagnostic imaging services which is helping in the effective medical imaging of overweight patients, is supporting the market growth.
- Increasing advancements in the equipment’s pulse sequences, which have resulted in faster imaging timings, higher spatial resolution, and improved imaging quality.
Global Diagnostic Imaging Services Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our global diagnostic imaging services market analysis, the increased deployment of new diagnostic imaging services is influencing the Asia Pacific diagnostic imaging services market over the forecasting years. The market growth will be driven by increasing demand for more advanced evaluation tools in emergency departments, coupled with an increase in the number of outpatient emergency care units during the forecast period. However, increasing diagnostic imaging equipment costs coupled with a lack of skilled labor are restricting factors to the market growth.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 553.66 billion |
| Market size value in 2031 | USD 860.8 billion |
| Growth Rate | 5% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Diagnostic Imaging Services Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Diagnostic Imaging Services Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Diagnostic Imaging Services Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Diagnostic Imaging Services Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Diagnostic Imaging Services Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Diagnostic Imaging Services Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Diagnostic Imaging Services Market Report Snapshots
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