As per the latest report published by Growth Plus Reports, the Global Diagnostic Imaging Services Market was valued at US$ 638.2 Billion in 2021 and is expected to reach US$ 981.6 Billion by 2030 at a revenue CAGR of 4.9% during the forecast period 2022 to 2030. The study provides a throughout analysis of the most successful strategies, market trends, drivers and opportunities, competitive landscape, market size, statistics, forecasts, and key investment areas.
Key Takeaways:
- The increasing prevalence of orthopedic and cardiovascular diseases drives the market revenue.
- Advancements like image-assisted surgeries are boosting revenue growth exponentially.
- Collaborations between key market players to create a strong product pipeline.
Diagnostic Imaging Services Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 638.2 Billion |
| Revenue forecast in 2030 | US$ 981.6 Billion |
| Growth Rate | CAGR of 4.9% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | Types, Application, Services Providers, and Region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
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Market Drivers:
The growing prevalence of musculoskeletal, cardiovascular, and other chronic diseases like cancer is fueling the growth of the global diagnostic imaging services market revenue. The launch of innovative products with enhanced results and safety profiles and rising demand for image-assisted surgery contribute to the revenue growth of the global diagnostic imaging services market. Additionally, it is expected that the growing geriatric population, rise in trauma-related incidents, and increased awareness of diagnostic services will drive the revenue growth of the global diagnostic imaging services market. Nevertheless, a portion of the market’s revenue growth is being constrained by the high cost of machinery and equipment as well as the high maintenance expenses.
Market Segmentation:
Growth plus reports have analyzed the global diagnostic imaging services market from perspectives such as type, application, service providers, and region.
Type Segmentation:
Based on type, the global diagnostic imaging services market is segmented into MRI scans, ultrasound, X-ray, CT scans, nuclear imaging, and mammography.
The X-ray imaging segment accounts for the largest revenue share in the global diagnostic imaging services market owing to the low cost, less turnaround time, and low exposure to X- rays. Furthermore, technological advancements and a strong product pipeline are expected to fuel the revenue growth of this segment during the forecast period.
Application Segmentation:
Based on application, the global diagnostic imaging services market is segmented into gynecology/obstetrics, orthopedics, oncology, cardiovascular, and neurology.
The oncology segment dominates the global imaging services market in terms of large revenue share. This large revenue share is attributed to the increasing prevalence of cancer, its awareness, and its screening advancements. Additionally, increasing investment in cancer research and development activities and increasing government initiatives for cancer screening are also boosting segment’s revenue growth.
Service Providers Segmentation:
Based on service providers, the global diagnostic imaging services market is segmented into hospitals and imaging centers.
The hospital segment accounts for the highest revenue share in the global market owing to the high patient footfall in hospitals for diagnosing and treating ailments. Additionally, the availability of health services for a better assessment of patients, such as diagnostic imaging services, diagnostics laboratories, and medical pharmacies, is contributing to the high revenue share of this segment.
Regional Growth Dynamics:
Based on region, the global diagnostic imaging services market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global diagnostic imaging services market in terms of the largest revenue share. The large revenue share is attributed to the high adoption of novel diagnostic imaging devices, the presence of key players, and the advanced healthcare system.
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Competitive Landscape:
The prominent players operating in the global diagnostic imaging services market are:
- Alliance Medical
- Rayus Radiology
- Dignity Health
- Global Diagnostics
- InHealth Group
- Medica Group
- Novant Health
- RadNet, Inc
- Sonic Healthcare
Several organizations prioritize organic growth techniques such as new product releases, product approvals, patents, and events. Acquisitions, partnerships, and collaborations are three types of strategic growth tactics employed in the market. As a result of these activities, market participants can grow their consumer bases and commercial operations.
Recent Developments:
- In July 2022, Unilabs and Tibbiyah established a joint venture in Saudi Arabia and registered as Saudi European Diagnostics Corporation. This collaboration seeks to offer hospitals, clinics, and medical facilities diagnostic imaging services.
- In April 2022, to supply Portugal with cutting-edge imaging technology and digital imaging services, GE Healthcare and Unilabs worked together to comprise advanced imaging fleet services, cancer screening and X-ray equipment, MRI and computed tomography scanning technologies, ultrasonic devices, and more.
- In Jan 2022, Aidance Holding B.V. and Quantib B.V. were bought by RadNet to increase the scope of its artificial intelligence-based lung and prostate cancer screening and diagnosis business.
Table of Content
- INTRODUCTION
-
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
-
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
-
- Current Market Trend (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
-
- Drivers
- Restraints/Challenges
- Opportunities
- GLOBAL DIAGNOSTIC IMAGING SERVICES MARKET – ANALYSIS & FORECAST, BY TYPE
-
- MRI Scans
- Ultrasound
- X-RAY
- CT Scans
- Nuclear Imaging
- Mammography
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
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