Demand for Diagnostic Imaging Services to be Spearheaded by Burgeoning Need for Personalized Diagnostics
The latest study by Fact.MR on the global diagnostic imaging services offers comprehensive analysis between 2022 and 2032 . The study provides unhinged analysis and sheds insights on curcial factors aiding the market grow through unprecedented scenarios. To present the information in a vivid way, the report is further segmented into service type and service provider across 5 key regions.
NEW YORK, Aug. 24, 2022 /PRNewswire/ -- The global diagnostic imaging services reached a valuation of US$ 555 Million in 2021 and is anticipated to rise by 5.4% year over year to reach US$ 585 Million in 2022.
The diagnostic imaging sector is vital to various healthcare companies as numerous infectious and chronic illnesses are diagnosed and treated with the use of imaging services. In order to comprehend the patient's health efficiently, the diagnostic imaging services involve the diagnosis and creation of pictures of various bodily areas.
Among the diagnostic imaging services offered are CT scans, X-rays, MRI, ultrasonic, and endoscopy. The total success rate of therapy has greatly increased thanks to the visual depiction of precise imaging of human body components.
As a consequence of the increased awareness of the value of early diagnosis of health issues, the market for diagnostic imaging services is anticipated to expand more quickly throughout the projected period (2022-2032).
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Modern medicine has made several advances in imaging technology that have made it easier to gather data about the human body for therapeutic treatments. Health professionals are integrating artificial intelligence and blockchain technology in diagnostic imaging to provide faster and efficient diagnosis.
Additionally, improvements in imaging provide doctors additional resources to enhance patient care in novel ways. Globally increasing chronic illness incidence and rising demand for its diagnosis have prompted diagnostic imaging firms to create new services and enhance those that already exist.
The capacity of clinicians to accurately treat, identify, and detect an injury or disease at its earliest stages has increased because to diagnostic imaging. Additionally, information about a particular body part that has to be treated or investigated is provided through diagnostic imaging services. Backed by these factors, the market is expected to record sales at US$ 1 Billion by the end of 2032.
Key Takeaways:
- The U.S. diagnostic imaging services market is slated to expand at 5.3% CAGR over the forecast period.
- China is predicted to witness growth at robust CAGR of 5.1% between 2022 and 2032.
- In terms of service type, computed tomography (CT) scanning segment is expected to register 5.6% CAGR during the assessment period.
- The category of magnetic resonance imaging (MRI) is anticipated to grow at a CAGR of 5.4% over the projection period.
- Japand and South Korea are expected to lead the East Asia market through 2022 & beyond, registering 5.5% CAGR and 5.6% CAGR, respectively.
Growth Drivers:
- Burgeoning need to detect the chronic illness at an early stage have improved the adoption of diagnostic imaging services across the globe.
- Adoption of artificial intelligence and use of blockchain technology for precision and efficient solutions will boost the market.
- Increasing use of teleradiology and services compatible with smartphone devices have surged the sales of diagnostic imaging services across emerging economies.
Restraints:
- High cost of diagnostic imaging equipment and inadequate reimbursement system for outpatient imaging facilities might limit the growth.
- The worldwide diagnostic imaging services industry is extremely concerned about the helium scarcity for magnetic resonance imaging devices.
- Adoption and easy availability of refurbished diagnostic imaging systems might hamper the sales in the market
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Competitive Landscape:
There are just a few of service providers in the highly consolidated global diagnostic imaging services market, opines Fact.MR. Companies that offer diagnostic imaging services are focusing on facility acquisition and joint venture development to expand their geographic reach, especially in North America.
By forming partnerships, service providers are collaborating with outstanding radiologists who have been offering patient-centered care in particular countries to a larger number of patients, such as India and China.
Additionally, in order to accommodate the growing demand, the focus is still on building new diagnostic centers equipped with cutting-edge diagnostic imaging modalities.
For instance,
- In December 2021, Medical Imaging Consultants, a leading radiology center in Canada partnered with a start-up Medo, venturing into AI to simplify ultrasound, to revolutionize diagnostic imaging. Through partnership the companies aims to make diagnostic imaging services more affordable, non-invasive, and portable for the patients.
Key Companies Profiled by Fact.MR
- RadNet, Inc.
- Alliance Healthcare Services, Inc.
- Sonic Healthcare
- Novant Health (MedQuest Associates Inc.)
- Dignity Health
- In Health Group
- Center for Diagnostic Imaging
- Shields MRI
- I-MED Radiology Network (Permira)
- Sonic Healthcare
More Valuable Insights on Diagnostic Imaging Services Market
In the latest study, Fact.MR offers a detailed study on diagnostic imaging services market for the forecast period of 2022 to 2032. This study also highlights key drivers promoting the sales of diagnostic imaging services through detailed segmentation as follows:
By Service Type:
- Service Type
- Diagnostic Radiology
- Ultrasound
- Computed Tomography
- Magnetic Resonance Imaging
- Nuclear Imaging
- Others
By Service Provider:
- Hospitals
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
- Others
ByRegion:
- North America
- Europe
- Asia Pacific (APAC)
- Latin America
- Middle East & Africa (MEA)
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Key Questions Covered in the Diagnostic Imaging Services Market Report
- What is the projected value of the diagnostic imaging services market in 2022?
- At what rate will the global diagnostic imaging services market grow until 2032?
- Which are the factors hampering the growth in the diagnostic imaging services market?
- Which region is expected to lead in the global diagnostic imaging services market during 2022-2032?
- Which are the factors driving the diagnostic imaging services market during the forecast period?
- What is the expected market value of the diagnostic imaging services market during the forecast period?
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About Fact.MR
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