This report aims to provide detailed insights into the global diagnostic
imaging services market. It provides valuable information on the type,
procedure, application, and region in the market. Furthermore, the information
for these segments, by region, is also presented in this report. Leading
players in the market are profiled to study their product offerings and
understand the strategies undertaken by them to be competitive in this market.
Expected Revenue Growth Analysis:
The Medical Imaging Services Market is projected to reach USD 693.4 billion by
2024 from USD 539.7
billion in 2019, at a CAGR of 5.1% from 2019 to 2024.
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Key Factors Driving Market Growth:
The
major factors driving the growth of medical imaging market include the rapidly
growing geriatric population and the subsequent increase in the prevalence of
associated diseases and growing awareness about early disease detection and the
widening scope of clinical applications. On the other hand, factors such as the
high cost of diagnostic imaging systems and the low reimbursement structure for
outpatient imaging facilities are likely to restrain the growth of the Diagnostic
Imaging Services Market to a certain extent in the coming years.
Based on modality, the X-ray segment accounted for the largest share of the
Diagnostic Imaging Services Market in 2018.
On the basis of modality, medical imaging services market is segmented into
magnetic resonance imaging (MRI), ultrasound, computed tomography (CT), X-ray,
nuclear imaging, and mammography. In 2018, the x-ray segment accounted for the
largest share of medical imaging market. The key factors driving the growth of
this market include the rising geriatric population, lower cost of X-rays as
compared to other imaging modalities, favorable returns on investments, and
technological advancements in X-ray imaging systems.
The hospitals segment held the largest share of the Diagnostic Imaging
Services Market in 2018.
On the basis of end user, medical imaging services market is segmented into
hospitals, diagnostic centers, ambulatory care centers, and research &
academia. The hospitals segment held the largest share of medical imaging
market in 2018. The large share of this segment can be attributed to the rising
number of diagnostic imaging procedures performed in hospitals, increasing
adoption of minimally invasive procedures in hospitals to improve the quality
of patient care, and rising adoption of advanced imaging modalities to improve
patient workflow efficiency in hospitals.
North America accounted
for the largest share of the Diagnostic Imaging Services Market in 2018
Based on region, the medical imaging market is segmented into North America, Europe, the Asia Pacific, and
RoW. North America accounted
for the largest share of the market in 2018. The growth of the North American
market is primarily driven by the increasing geriatric population, high
incidence/prevalence of various diseases, the large number of diagnostic
imaging centers/procedures, increasing awareness about the benefits of early
diagnosis of diseases, and the rapid adoption of technologically advanced imaging
systems in this region.
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Prominent players in the Diagnostic Imaging Services Market include RadNet, Inc
(US), Sonic Healthcare (Australia),
Dignity Health (US), Novant Health (US), Alliance Medical (UK), InHealth Group
(UK), Medica Group (UK), Global Diagnostics (Australia), and Healthcare Imaging Services
Pty Ltd. (Australia),
among others.
RadNet (US) dominated the medical imaging services
market in 2018. The company offers advanced imaging solutions, such as magnetic
resonance imaging (MRI), computed tomography (CT), positron emission tomography
(PET), nuclear medicine, mammography, ultrasound, diagnostic radiology (X-ray),
fluoroscopy, and other related procedures. The company also offers a wide range
of imaging services. To enhance its presence in medical imaging market, the company
concentrates on partnerships and acquisitions & joint ventures.