What Does the Historical and Current Diagnostic Imaging Services Market Size Trend Indicate?
The diagnostic imaging services market has seen considerable growth due to a variety of factors.
• Over recent years, there has been robust growth in the size of the diagnostic imaging services market. The market, which is set to rise from $538.26 billion in 2024 to $569.47 billion in 2025, is expected to see a compound annual growth rate (CAGR) of 5.8%.
Factors driving growth over the historic period include an aging population, the development of healthcare infrastructure, medical tourism, disease prevalence, and ongoing research and development.
What Does the Future Hold for the Diagnostic Imaging Services Market?
The diagnostic imaging services market is expected to maintain its strong growth trajectory in upcoming years.
• The market size for diagnostic imaging services is anticipated to exhibit robust growth in the upcoming years. By 2029, it's expected to expand to $713.03 billion, with a compound annual growth rate (CAGR) of 5.8%.
The predicted growth during this forecast period is due to a rising demand for remote diagnostics, customized medicine, integration of telemedicine, a shift towards outcome-based reimbursement models, and the adoption of environmentally friendly approaches. Key trends predicted for this period are the application of blockchain in healthcare, utilization of augmented reality (AR) in imaging, outsourcing of diagnostic services, inclusive imaging, and ongoing innovations in imaging.
Which Key Drivers Are Propelling Th Diagnostic Imaging Services Market's Growth?
The global increase in chronic disease incidents is anticipated to drive the growth of the diagnostic imaging services market. Imaging services, including but not limited to ultrasound, fluoroscopy, nuclear medicine, radiographs, and CT scans, are used to examine the body's interior and diagnose various chronic or non-communicable ailments. For example, in February 2022, the World Health Organization stated that cancer was a major global cause of death, accounting for nearly one-sixth of deaths or approximately 10 million fatalities. It is also noted that in the USA, someone succumbs to cardiovascular disease every 34 seconds. The World Health Organization further states that cardiovascular disease causes an estimated 17.9 million deaths annually worldwide. Consequently, the rising occurrence of chronic conditions such as cancer, heart disease, stroke, diabetes, and arthritis is expected to boost the demand for diagnostic imaging services.
What Are The Primary Segments In The Global Diagnostic Imaging Services Market?
The diagnostic imaging services market covered in this report is segmented –
1) By Type: X-Ray Imaging, Ultrasound, Magnetic Resource Imaging, Computed Tomography, Nuclear Imaging, Mammography
2) By Application: Cardiology, Gynecology Or OBS, Orthopedics And Musculoskeletal, Oncology, Neurology And Spine, General Imaging
3) By End User: Hospitals, Diagnostic Imaging Centers, Ambulatory Imaging Centers, Other End Users
Subsegments:
1) By X-Ray Imaging: Conventional X-Ray, Digital X-Ray, Fluoroscopy
2) By Ultrasound: Diagnostic Ultrasound, 3D Or 4D Ultrasound, Doppler Ultrasound
3) By Magnetic Resonance Imaging (MRI): Closed MRI, Open MRI, Functional MRI (fMRI)
4) By Computed Tomography (CT): Single-Slice CT, Multi-Slice CT, Cone Beam CT
5) By Nuclear Imaging: Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Bone Scintigraphy
6) By Mammography: Screen-Film Mammography, Digital Mammography, 3D Mammography
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Which Key Trends Are Driving Changes In The Diagnostic Imaging Services Market?
A key focus for leading businesses in the diagnostic imaging services market is the integration of artificial intelligence and implementation of blockchain technology to transform and advance diagnostic imaging. Artificial intelligence duplicates the human brain's functions, enabling machines to execute tasks requiring human intelligence. For example, RadNet, a healthcare organization based in the US, unveiled its Enhanced Breast Cancer Detection (EBCD) service in February 2023 to heighten the precision of breast cancer screenings for women. The service also boasts an additional AI-powered review named "Accord," targeted at certain questionable exams, guaranteeing comprehensive examinations. Moreover, the EBCD offers an exhaustive lifetime risk evaluation of breast cancer, aiding patients in understanding their personal risk elements and providing personalized screening guidelines.
Who Are the Key Players in the Diagnostic Imaging Services Market?
Major companies operating in the diagnostic imaging services market include:
• Hitachi Ltd.
• Siemens Healthineers AG
• Fujifilm Holdings Corporation
• Koninklijke Philips N.V.
• GE HealthCare Technologies Inc.
• Sonic Healthcare Ltd.
• Hologic Inc.
• Mindray Medical International Limited
• Varian Medical Systems Inc.
• Shimadzu Corporation
• Agfa-Gevaert Group NV
• Carestream Health Inc.
• Bracco Imaging S.p.A.
• RadNet Inc.
• Neusoft Medical Systems Co. Ltd.
• Konica Minolta Healthcare Americas Inc.
• Alliance Healthcare Services Inc.
• Analogic Corporation
• Samsung Medison Co. Ltd.
• Canon Medical Systems Corporation
• Esaote S.p.A.
• MedQuest Associates Inc.
• Novarad Corporation
• Swissray Global Healthcare Holding Ltd.
• Aurora Imaging Technology Inc.
• Planmed Oyj
• CurveBeam LLC
What Is The Most Dominant Region In The Diagnostic Imaging Services Market?
North America was the largest region in the diagnostic imaging services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic imaging services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
