Diagnostic Imaging Services Market : Recent Study including Growth Factors, Applications, Regional Analysis, Key Players and Forecast 2025

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About Diagnostic Imaging Services
Imaging services have become a cornerstone in the diagnosis of various chronic conditions including cardiovascular diseases and cancer. Technological advancements to improve the quality of images and reduce the risk associated with using these equipment, especially X-ray based devices, and development of cost-effective imaging technologies have led to wider acceptance of diagnostic imaging procedures among healthcare providers.

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Availability of reimbursement for radiology procedures in major countries and regions such as the U.S., Western Europe, Japan, Australia, and China has been one of the major factors driving the market. For example, the National Health Service (NHS), U.K.’s publicly funded national healthcare system, reimbursed around 40 million diagnostic imaging tests in 2016. Demand for diagnostic imaging services is expected to continue to rise at a significant rate due to the increase in aging population and growth in prevalence of chronic diseases. People aged 60 years and above are projected to account for 17% of the global population by 2030, up from 12% at present (Source: WHO). According to a study conducted by the National Institutes of Health, the utilization of imaging services among patients aged 65 years and above is at least twice as compared to that among younger people. As per the Lancet study on Global Burden of Disease, non-communicable diseases accounted for around 70% of global deaths in 2015. For example, the global cancer incidence is projected to rise from 14.1 million in 2012 to 24 million by 2024 (Source: World Cancer Research Fund International).

Based on type of diagnostic imaging services, the global diagnostic imaging services market can be segmented into diagnostic radiology, ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), nuclear imaging, and others. Diagnostic radiology and ultrasound segments constitute significant share of the market in terms of volume; however, the proportion of spending is higher on more expensive procedures such as CT and MRI. In Australia, CT and MRI held around 16% share of the total diagnostic imaging procedures in 2015; however, these two modalities accounted for around 40% of the total spending on diagnostic imaging services.

In terms of geography, the global diagnostic imaging services market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. In terms of value, North America accounts for the key share of the market, as diagnostic imaging services are estimated to constitute around 10% of the total healthcare spending of over more than US$ 3.2 Tn in the U.S. market at present. Asia Pacific holds prominent share of the market in terms of volume due to the higher prevalence of non-communicable diseases such as diabetes, cancer, chronic respiratory diseases, and cardiovascular diseases in the region.

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Based on end-user, the diagnostic imaging services market can be segregated into hospitals, clinics, diagnostic imaging centers, ambulatory surgery centers, and others. The distribution of the market in terms of end-user varies based on the presence of private diagnostic imaging centers in a country or region. For example, the outpatient imaging centers market in the U.S. is worth around US$ 17 Bn at present.

Key private companies operating in the global diagnostic imaging services market include RadNet, Inc., Center for Diagnostic Imaging (CDI), MedQuest Associates, Inc., Concord Medical Services Holdings Limited, Sonic Healthcare, and Alliance Medical. Private diagnostic imaging practices are likely to continue to witness consolidation due to the decline in rate of reimbursements, increase in competition, and fragmented nature of the market.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:
Market segments and sub-segments
Market trends and dynamics
Supply and demand
Market size
Current trends/opportunities/challenges
Competitive landscape
Technological breakthroughs
Value chain and stakeholder analysis

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