Diagnostic Imaging Services Market Size, Share, Trends Analysis, 2032

Diagnostic Imaging Services Market: Industry Perspective

The global diagnostic imaging services market size was worth around USD 26.43 Billion in 2023 and is predicted to grow to around USD 41 Billion by 2032 with a compound annual growth rate (CAGR) of roughly 5% between 2024 and 2032. The report analyzes the global diagnostic imaging services market's drivers, restraints/challenges, and the effect they have on the demands during the projection period. In addition, the report explores emerging opportunities in the diagnostic imaging services industry.

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The report covers forecasts and analyses for the diagnostic imaging services market on a global and regional level. The study provides historical data from 2018 along with a forecast from 2024 to 2032 based on revenue (USD Billion). The study includes drivers and restraints for the diagnostic imaging services market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the diagnostic imaging services market on a global as well as regional level.

In order to give the users of this report a comprehensive view of the diagnostic imaging services market we have included a competitive landscape and analysis of Porter’s Five Forces model for the market. The study encompasses a market attractiveness analysis, wherein the Modality and services segment is benchmarked based on their market size, growth rate and general attractiveness.

The report provides a company market share analysis in order to give a broader overview of the key players in the diagnostic imaging services market. In addition, the report also covers key strategic developments of the market including acquisitions & mergers, new Modality launches, agreements, partnerships, collaborations & joint ventures, research & development, and regional expansion of major participants involved in the diagnostic imaging services market on a global and regional basis.

Global Diagnostic Imaging Services Market: Overview 

Medical imaging can be defined as the process and technique used for the creation of visual representations of the inside of the body for diagnosis and subsequent treatment. Medical imaging is used to disclose internal assemblies concealed by skin and bones. Medical imaging also plays an important role in follow-up of the medical conditions that have already been diagnosed or treated.

Global Diagnostic Imaging Services Market: Growth Factors

• Need for Personalized Diagnostics & Advanced Technological Support to Propel Growth

Factors such as the increasing prevalence of cancer, growing geriatric population, increasing awareness regarding early diagnosis of diseases, broadening scope of medical applications, growing demand for advanced diagnostic techniques, and increasing healthcare expenditure in developing regions will act as major driving factors in the growth of global diagnostic imaging services market. Technological improvements in the field of medical imaging and growing awareness will present an opportunity for the market players in the diagnostic imaging services market. Nonetheless, the high cost of medical imaging systems, lack of skilled diagnosticians, and unfavorable reimbursement scenarios in developing regions will restrict the growth of the global diagnostic imaging services market.

Diagnostic Imaging Services Market: Segmentation Analysis

The global diagnostic imaging services market has been split into modality, application, end user, and region.

Based on modality, the diagnostic imaging services market has been segmented into magnetic resonance imaging (MRI), ultrasound, x-ray imaging, mammography, computed tomography (CT), and nuclear imaging. The X-ray imaging segment accounted for the highest market share in 2023 owing to the rapidly increasing geriatric population.

The application segment has been divided into gynecology, cardiology, musculoskeletal & orthopedics, general imaging, neurology, and oncology. The oncology segment accounted for the highest market share in 2023 owing to a high incidence of cancer.

The end user segment has been divided into diagnostic centers, hospitals, academia & research, and ambulatory care centers. The hospital's segment accounted for the highest market share in 2023 due to the presence of the latest medical imaging infrastructure in hospitals.

Diagnostic Imaging Services Market: Regional Analysis

North America will be the leading region during the forecast period. The U.S. accounted for the highest share in the North American region due to the presence of the latest medical imaging infrastructure and the increasing geriatric population. Europe is likely to be the succeeding key market. The crucial reasons are the presence of skilled medical professionals and a positive reimbursement scenario.

Asia Pacific will develop at the highest growth rate owing to the high incidence of cancer, technological improvements in the field of medical imaging, and initiatives taken by governments to create awareness regarding early diagnosis of diseases. Latin America region will propagate at a noteworthy rate through the assessment time. Middle East & Africa will show positive advancement in the projected time frame.

Diagnostic Imaging Services Market: Report Scope

Diagnostic Imaging Services Market: Key Players

Some of the major players in the global diagnostic imaging services market include:

• Hitachi Ltd.
• Siemens Healthcare GmbH
• Fujifilm Corporation
• Carestream Health
• Koninklijke Philips N.V.
• Hologic Inc.
• Carestream Health
• TOSHIBA CORPORATION
• GE Healthcare
• Shimadzu Corporation
• Esaote SpA 

The global diagnostic imaging services market is segmented as follows;

Global Diagnostic Imaging Services Market: By Modality

• Magnetic Resonance Imaging (MRI)
• Ultrasound
• X-ray Imaging
• Mammography
• Computed Tomography (CT)
• Nuclear Imaging

Global Diagnostic Imaging Services Market: By Application

• Gynecology
• Cardiology
• Musculoskeletal & Orthopedics
• General Imaging
• Neurology
• Oncology

Global Diagnostic Imaging Services Market: By End User

• Diagnostic  Centers
• Hospitals
• Academia & Research
• Ambulatory Care Centers

Global Diagnostic Imaging Services Market: By Region

• North America
  • U.S.
• Europe
  • UK
  • France
  • Germany
• Asia Pacific
  • China
  • Japan
  • India
• Latin America
  • Brazil
• Middle East and Africa