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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).

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. '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'

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.

Increasing introduction of open diagnostic imaging services which is helping in the effective medical imaging of overweight patients, is supporting the market growth.

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.

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Global Diagnostic Imaging Services Market

Product ID: SQMIG35A2174

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