The global diagnostic imaging services market size was valued at USD 550.3 billion in 2021 and is projected to reach around USD 860.6 billion in 2030, exhibiting a CAGR of 5.0% in the forecast period. The increasing prevalence of chronic diseases, fast growing geriatric population, technological advancements in imaging modalities, and growing demand for early diagnosis of diseases are boosting the market growth. As per the reports of GLOBOCAN, in 2020, approximately 19.3 million new incidences of cancer were registered globally, and it is anticipated to grow to 30.2 million in 2040. The most affected would be the developing markets, as the population growth is projected to be most significant in mounting areas. Furthermore, incorporation of advanced technologies in medical imaging is considerably boosting the effectiveness of diagnosis which eventually is driving the market growth. However, rising cost of diagnostic imaging equipment, dearth of skilled workforce and critical reimbursement structure of outpatient imaging amenities in lower income nations are projected to hamper the overall growth of the market.
Medical imaging plays a vital role in identification of chronic disorders. The inactive lifestyle and aging population have caused in several chronic diseases such as cardiovascular disease, cancer, obesity, and diabetes. The decrease in fertility and improving longevity are prominent factors that lead to an aging population. As per the United Nations’ 2017 report, the geriatric population is expected to reach 2.1 billion by 2050 from 962 million in 2017. Similarly, the number of geriatric population in the U.S. is likely to surge by 6.3% between 2017 and 2050 to touch 108.4 million by 2050. Moreover, the population of baby boomers is considerably rising. This age group is vulnerable to various chronic disorders such as cancer, spinal disorders, kidney diseases, and cardiovascular diseases.
The widespread pandemic has considerably affected the growth of several health centers and services across the globe. Moreover, the medical practitioners and physicians were reliant on the digital medication services to conduct the primary medical services, aside from COVID treatments. The COVID patients who were diagnosed as negative in their RT-PCR tests were suggested to acquire a CT scan of their lungs.
The growing COVID infected patients in several countries were advised to acquire CT scans to diagnose their condition. According to an article titled, Chest radiograph at admission forecasts early intubation between inpatient COVID-19 patients appearing in European Radiology in November 2020, chest radiography was important in identifying COVID-19 patients who were rapidly deteriorating and helped to inform clinical management and a hospital bed and ventilation allocation. On the other hand, the COVID infection had directed to pneumonia and other chronic disorders. Such factors have also increased the demand for CT scans and x-rays. The low-dose CT scans and imaging systems were highly favoured during the pandemic.
Click Here To Access The Free Sample Report @ https://analyticsmarketresearch.com/sample-request/diagnostic-imaging-services-market/50500/
Modality Insights
In 2021, X-ray had the largest market share of the diagnostic imaging services market. For various tests and operations, X-ray is among the widely performed medical imaging modalities. This service offers non-invasive disease diagnosis and monitoring and support in surgical treatment planning.
However, the CT scan segment is expected to expand significantly during the forecast period. This imaging modality’s primary benefit is that it allows for simultaneous detailed imaging of blood vessels, bone, and soft tissues.
Application Insights
The general radiography segment will have the largest share in the market during the forecast period. The large share of can be ascribed to the increasing prevalence of lung diseases worldwide and the rising use of 3D X-ray imaging technology in applications for chest, orthopaedic & rheumatological, and cardiovascular imaging.
End User Insights
The hospitals segment can be attributed to hold the largest growing adoption of 3D imaging technology, increasing adoption of minimally invasive procedures and ongoing collaboration with market players to adopt diagnostic imaging solutions. In April 2022, Siemens Healthineers (Germany) collaborated with Oulu University Hospital (Finland) to grow radiology solutions through installing, supplying, and maintaining medical imaging technology and software training in Finland.
Regional Insights
North America accounted for the largest share of the diagnostic imaging services market in 2021. The growth of the North American market is primarily driven by the strong foothold of key players in the region offering wide range of diagnostic imaging services. increased collation among imaging service providers and diagnostic centers, rapid adoption of highly advanced imaging technology, and rising volume of imaging scans performed annually in the region. The American College of Radiology (ACR), which represents approximately 40,000 radiologists in the United States, issued regulation that CTs and X-rays should not be used as primary method for the diagnosis or screening for COVID-19, as it is highly infectious.
Moreover, the United States contributes the largest share in the diagnostic imaging services market that can be ascribed to the rising technological advances, greater affordability rates from the population, and the number of diagnostic procedures growing on yearly basis. For instance, in October 2020, Siemens Healthineers received FDA clearance for the Ysio Max digital radiography system, which comprises new detectors and usability features that advance imaging and quicken exams.
On the other hand, Asia pacific is projecting a growth rate of more than 7.5%, which is due to rising economic condition in the nations such as India, Japan, and China. Moreover, the rising number of diagnostic imaging systems manufacturing plants in the region is further boosting the overall growth of the diagnostic imaging services market. For instance, Olympus holds about 70% of the market share in the total Asia-pacific nations and has reported above USD 7.3 billion in the year 2020 despite the COVID disruptions.
Key Companies Insights
Key players are aiming on their technological collaborations, partnerships, and merger & acquisitions strategies to achieve a competitive edge and expand their product portfolio & business footmarks. The ongoing Covid-19 pandemic hindered the healthcare systems across the globe and drove market players to modernize products for unexploited opportunities. Some of the key players operating in the global diagnostic imaging services market include:
- Global Diagnostics
- RadNet, Inc
- Alliance Medical
- Center for Diagnostic Imaging, Inc
- Medica Group
- Novant Health
- Concord Medical Services Holdings Limited
- InHealth Group
- Sonic Healthcare
- Healthcare Imaging Services Pty Ltd.
- Other players
Some of the Recent Developments:
- In May 2021, Royal Philips launched spectral detector-based Spectral Computed Tomography (CT) 7500. The innovative and latest intelligent system provides high-quality spectral images for each patient per scan 100% of the time to help enhance disease characterization and decrease rescans and follow-ups, all at the same dose levels as traditional scans.
- In April 2021, the United States Food and Drug Administration (FDA) permitted the product single-source Nanox.ARC digital x-ray technology developed by NANO-X IMAGING.
- In 2020, GE Healthcare launched its form of the basic POCUS system, which is considered as the first AI-enabled system for cardiac diagnostics
- In November 2018, Akumin Inc. acquired four outpatient diagnostic imaging facilities in Broward County and one imaging center in Florida from Diagnostic Professionals Inc. to grow its regional presence in mid and south Florida.
Segments
By Modality
- X-ray
- Nuclear Medicine Scans
- MRI Scans
- CT Scans
- Ultrasound
By Application
- General radiography
- Dentistry
- Other X-ray applications
By End User
- Hospitals
- Diagnostic Imaging Centers
Global Diagnostic Imaging Services Market: Regional Analysis
The countries covered in the regional analysis of the Global Diagnostic Imaging Services market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America
Read Full Research Report @ https://analyticsmarketresearch.com/reports/diagnostic-imaging-services-market/50500/
Analysis of the impact of COVID-19 and the Russia-Ukraine War:
The readers of this section will be better informed on the effects of the pandemic, the post-pandemic, and the Russia-Ukraine War on the global market for refrigerated freight services. The factors that have changed since the poll was done include demand, consumption, transportation, consumer behavior, and supply chain management. Industry experts have also emphasized the crucial factors that will help players identify opportunities and maintain the sector as a whole in the approaching years.
The main goals of report are:
- To examine and assignment the extent of the international market for the market sector.
- To Researching the important gamers globally, their SWOT analysis, market value, and market share.
- To identify, describe, and mission market based totally on type, quit use, and geography.
- To take a look at the market advantages, challenges, dangers, and constraints in the world’s principal regions.
- To pick out key traits and variables that are advertising or inhibiting market growth.
- To decide the excessive increase segments in order to have a look at the market potentialities for stakeholders.
- To consider every submarket fastidiously in phrases of its very own boom sample and market contribution.
- To know market possessions, agreements, growth, and the introduction of new merchandise as aggressive advances.
- To strategically discover the essential gamers and completely take a look at their enlargement plans.
