Product Code: MD 7453
"The diagnostic imaging services market is projected to grow at a CAGR of 5.1% during the forecast period."
The diagnostic 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. The major factors driving the growth of this 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.
On the basis of modality, X-ray accounted for the largest share of the diagnostic imaging services market in 2018.
Diagnostic imaging services make use of different modalities for the diagnosis and detection of various medical conditions, such as neurology, dentistry, oncology, cardiovascular, and mammography. The key modalities used for providing these services include X-ray imaging, computed tomography, ultrasound, MRI, nuclear imaging, and mammography. In 2018, the x-ray segment accounted for the largest share of the diagnostic imaging services 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 neurology segment accounted for the largest share of the MRI services market in 2018.
Based on application, the MRI services market is segmented into neurology, orthopedics, cardiovascular, pelvic & abdomen, and oncology. The neurology segment accounted for the largest share of the MRI services market in 2018. The large share of this segment can be attributed to the aggressive R&D activities in neuroscience, favorable federal initiatives, and the growing incidence of brain injuries.
The Asia Pacific market is estimated to grow at the highest CAGR during the forecast period.
The diagnostic imaging services market is segmented into four major regions, namely, North America, Europe, the Asia Pacific, and the RoW. In 2018, North America commanded the largest share of the global diagnostic imaging service market. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period primarily due to the improving healthcare infrastructure, rising investments in diagnostic imaging, improving reimbursement scenario, and the growing insurance coverage in several APAC countries.
Breakdown of supply-side primary interviews:
- By Company Type: Tier 1 - 25%, Tier 2 - 30%, and Tier 3 - 45%
- By Designation: C-level - 26%, Director-level - 30%, and Others - 44%
- By Region: North America- 34%, Europe - 26%, APAC - 23%, and RoW - 17%
The major players in the market includes 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.
Research Coverage:
This research report categorizes the diagnostic imaging services market, by modality, application, end user, and region. The report also studies factors such as drivers, restraints, opportunities, and challenges affecting market growth. It also provides details of the competitive landscape for market leaders. Furthermore, the report analyzes micro markets concerning individual growth trends, and it also forecasts the revenue of the market segments for four main regions.
Key Benefits of Buying the Report:
This report focuses on various levels of analysis-industry trends, market shares of top players, and company profiles, which together form basic views. It also analyzes the competitive landscape; and high-growth countries along with their respective drivers, restraints, challenges, and opportunities. The report will help both established firms as well as new entrants/smaller firms to gauge the pulse of the market and garner greater market shares.
TABLE OF CONTENTS
1 INTRODUCTION
- 1.1 OBJECTIVES OF THE STUDY
- 1.2 MARKET DEFINITION
- 1.3 MARKET SCOPE
- 1.3.1 MARKETS COVERED
- 1.3.2 YEARS CONSIDERED FOR THE STUDY
- 1.4 CURRENCY
- 1.5 LIMITATIONS
- 1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
- 2.1 RESEARCH METHODOLOGY STEPS
- 2.2 SECONDARY AND PRIMARY RESEARCH METHODOLOGY
- 2.2.1 SECONDARY RESEARCH
- 2.2.1.1 Key data from secondary sources
- 2.2.2 PRIMARY RESEARCH
- 2.2.2.1 Key data from primary sources
- 2.3 MARKET SIZE ESTIMATION
- 2.3.1 SERVICE-BASED MARKET ESTIMATION
- 2.3.2 PRIMARY RESEARCH VALIDATION
- 2.4 MARKET BREAKDOWN AND DATA TRIANGULATION
- 2.5 RESEARCH ASSUMPTIONS AND LIMITATIONS
- 2.5.1 ASSUMPTIONS FOR THE STUDY
- 2.5.2 LIMITATIONS
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
- 4.1 GLOBAL DIAGNOSTIC IMAGING SERVICES MARKET OVERVIEW
- 4.2 DIAGNOSTIC IMAGING SERVICES MARKET, BY MODALITY
- 4.3 DIAGNOSTIC IMAGING SERVICES MARKET, BY END USER (USD BILLION)
- 4.4 DIAGNOSTIC IMAGING SERVICES MARKET, BY REGION
5 MARKET OVERVIEW
- 5.1 INTRODUCTION
- 5.2 MARKET DYNAMICS
- 5.2.1 DRIVERS
- 5.2.1.1 Rapidly growing geriatric population and the subsequent increase in the prevalence of associated diseases
- 5.2.1.2 Growing awareness about early disease detection and the widening scope of clinical applications
- 5.2.2 RESTRAINTS
- 5.2.2.1 High cost of diagnostic imaging systems
- 5.2.2.2 Low reimbursement structure for outpatient imaging facilities
- 5.2.3 OPPORTUNITIES
- 5.2.3.1 Adoption of artificial intelligence and blockchain in diagnostic imaging settings
- 5.2.4 CHALLENGES
- 5.2.4.1 Dearth of trained professionals
- 5.3 INDUSTRY TRENDS
- 5.3.1 GROWING PREFERENCE FOR OUTPATIENT IMAGING CENTERS
- 5.3.2 GROWING ADOPTION OF REFURBISHED DIAGNOSTIC IMAGING SYSTEMS IN OUTPATIENT IMAGING CENTERS
- 5.3.3 INCREASING ADOPTION OF TELERADIOLOGY
- 5.4 BURNING ISSUES
- 5.4.1 OVERUTILIZATION OF DIAGNOSTIC IMAGING SERVICES
- 5.5 PRICING ANALYSIS FOR IMAGING SCANS, BY GEOGRAPHY (2018)
- 5.6 REIMBURSEMENT SCENARIO IN THE US
- 5.6.1 COMMERCIAL REIMBURSEMENT: DIAGNOSTIC IMAGING SERVICES
6 DIAGNOSTIC IMAGING SERVICES MARKET, BY MODALITY
- 6.1 INTRODUCTION
- 6.2 MAGNETIC RESONANCE IMAGING
- 6.2.1 MRI SCANS OFFER ACCURATE DISEASE STAGING AND EFFECTIVE RESPONSE TO THE TREATMENT OF VARIOUS CHRONIC CONDITIONS
- 6.2.1.1 MRI services market split, by application
- 6.2.1.2 MRI services market split, by end user
- 6.3 ULTRASOUND
- 6.3.1 INCREASING PREVALENCE OF TARGET DISEASES & DEVELOPMENT OF POC ULTRASOUND SYSTEMS TO SUPPORT MARKET GROWTH
- 6.3.1.1 Ultrasound services market split, by application
- 6.3.1.2 Ultrasound services market split, by end user
- 6.4 COMPUTED TOMOGRAPHY
- 6.4.1 INCREASING INCIDENCE OF CVD IS DRIVING THE DEMAND FOR THIS IMAGING MODALITY
- 6.4.1.1 CT services market split, by application
- 6.4.1.2 CT services market split, by end user
- 6.5 X-RAY IMAGING
- 6.5.1 LOWER COST OF X-RAY IMAGING AS COMPARED TO OTHER IMAGING MODALITIES TO SUPPORT MARKET GROWTH
- 6.5.1.1 X-ray imaging services market split, by application
- 6.5.1.2 X-ray imaging services market split, by end user
- 6.6 NUCLEAR IMAGING
- 6.6.1 UNCERTAIN REIMBURSEMENT SCENARIO IN EMERGING COUNTRIES FOR PET SCANS TO HAMPER MARKET GROWTH
- 6.6.1.1 Nuclear imaging services market split, by application
- 6.6.1.2 Nuclear imaging services market split, by end user
- 6.7 MAMMOGRAPHY
- 6.7.1 INCREASING INCIDENCE OF BREAST CANCER TO DRIVE MARKET GROWTH
- 6.7.1.1 Mammography services market split, by end user
7 DIAGNOSTIC IMAGING SERVICES MARKET, BY APPLICATION
- 7.1 INTRODUCTION
- 7.2 MAGNETIC RESONANCE IMAGING SERVICES
- 7.2.1 NEUROLOGY
- 7.2.1.1 Growing incidence of brain injuries to support market growth
- 7.2.2 ORTHOPEDICS
- 7.2.2.1 MRI is the most common imaging method for the diagnosis and prognosis of musculoskeletal disorders
- 7.2.3 CARDIOVASCULAR
- 7.2.3.1 MRI is among the safest and most-reproducible noninvasive methods for obtaining high-resolution images of the vascular system
- 7.2.4 PELVIC & ABDOMEN
- 7.2.4.1 Rising cases of kidney stones among individuals to support market growth
- 7.2.5 ONCOLOGY
- 7.2.5.1 Rising prevalence of cancer and increasing awareness about early cancer screening are key market drivers
- 7.3 ULTRASOUND SERVICES
- 7.3.1 OBSTETRICS & GYNECOLOGY
- 7.3.1.1 Growing number of maternity centers and diagnostic clinics across the globe to support market growth
- 7.3.2 CARDIOVASCULAR
- 7.3.2.1 The growing prevalence of lifestyle and age-related disorders to aid market growth
- 7.3.3 UROLOGY
- 7.3.3.1 Increasing incidence of urological disorders to support market growth
- 7.3.4 NEUROLOGY
- 7.3.4.1 Increasing incidence of neuromuscular disorders to contribute to market growth
- 7.3.5 ORTHOPEDICS
- 7.3.5.1 The use of ultrasound in orthopedics does not involve the use of harmful ionizing radiations
- 7.3.6 OTHER ULTRASOUND APPLICATIONS
- 7.4 COMPUTED TOMOGRAPHY SERVICES
- 7.4.1 CARDIOVASCULAR
- 7.4.1.1 The increasing availability of cardiac CT devices in imaging centers of mature markets to propel market growth
- 7.4.2 ONCOLOGY
- 7.4.2.1 Increasing incidence of cancer to propel market growth
- 7.4.3 NEUROLOGY
- 7.4.3.1 High prevalence of target diseases to support market growth
- 7.4.4 OTHER CT APPLICATIONS
- 7.5 X-RAY IMAGING SERVICES
- 7.5.1 GENERAL RADIOGRAPHY
- 7.5.1.1 Rising prevalence of lung diseases to drive market growth
- 7.5.2 DENTISTRY
- 7.5.2.1 High prevalence of dental disorders to drive the growth of this application segment
- 7.5.3 FLUOROSCOPY
- 7.5.3.1 Increasing application of fluoroscopy in pain management to support market growth
- 7.6 NUCLEAR IMAGING SERVICES
- 7.6.1 CARDIOVASCULAR
- 7.6.1.1 High prevalence of CVD and increasing awareness about the benefits of early detection of cardiovascular complications to drive market growth
- 7.6.2 ONCOLOGY
- 7.6.2.1 The ability of nuclear imaging systems to distinguish between benign and malignant tumors helps physicians in efficient diagnosis and decision-making
- 7.6.3 NEUROLOGY
- 7.6.3.1 Nuclear imaging techniques provide structural as well as functional information about the brain
- 7.6.4 OTHER NUCLEAR IMAGING APPLICATIONS
- 7.7 MAMMOGRAPHY SERVICES
- 7.7.1 RISING INCIDENCE OF BREAST CANCER TO AID THE ADOPTION OF MAMMOGRAPHY SERVICES
8 DIAGNOSTIC IMAGING SERVICES MARKET, BY END USER
- 8.1 INTRODUCTION
- 8.2 HOSPITALS
- 8.2.1 LARGE NUMBER OF DIAGNOSTIC IMAGING PROCEDURES PERFORMED IN HOSPITALS TO DRIVE MARKET GROWTH
- 8.3 DIAGNOSTIC IMAGING CENTERS
- 8.3.1 BUDGETARY CONSTRAINTS TO LIMIT THE ADOPTION OF DIAGNOSTIC IMAGING SYSTEMS IN THIS END-USER SEGMENT
- 8.4 AMBULATORY CARE CENTERS
- 8.4.1 GROWING NUMBER OF AMBULATORY CARE CENTERS TO SUPPORT MARKET GROWTH
- 8.5 RESEARCH & ACADEMIA
- 8.5.1 INCREASE IN CLINICAL APPLICATIONS & RESEARCH IS LIKELY TO ADD MOMENTUM IN THIS MARKET
9 DIAGNOSTIC IMAGING SERVICES MARKET, BY REGION
- 9.1 INTRODUCTION
- 9.2 NORTH AMERICA
- 9.2.1 US
- 9.2.1.1 A large number of diagnostic imaging procedures/scans are performed in the US annually
- 9.2.2 CANADA
- 9.2.2.1 Dearth of radiologists and long wait time for scans are the major challenges in the Canadian market
- 9.3 EUROPE
- 9.3.1 GERMANY
- 9.3.1.1 Germany dominates the European market
- 9.3.2 UK
- 9.3.2.1 The UK shows high demand for diagnostic imaging, counter-balanced by high national waiting times for scanning procedures
- 9.3.3 FRANCE
- 9.3.3.1 High incidence of Alzheimer's and other diseases, along with France's robust healthcare system, will drive market growth
- 9.3.4 ROE
- 9.4 ASIA PACIFIC
- 9.4.1 CHINA
- 9.4.1.1 Government initiatives and investments along with rapidly growing geriatric population to support market growth in China
- 9.4.2 JAPAN
- 9.4.2.1 Fast adoption of advanced technologies, as well as investments and innovations by key market players, will lead to growth in the number of procedures
- 9.4.3 INDIA
- 9.4.3.1 Uncertainties in healthcare policies and poor medical insurance coverage will restrict the growth of the market in India
- 9.4.4 ROAPAC
- 9.5 REST OF THE WORLD
- 9.5.1 LATIN AMERICA
- 9.5.1.1 Growing geriatric population and rising disease incidence have attracted market players to LATAM countries
- 9.5.2 MIDDLE EAST & AFRICA
- 9.5.2.1 Improvements in healthcare systems to support market growth in the Middle East
10 COMPETITIVE LANDSCAPE
- 10.1 INTRODUCTION
- 10.2 MARKET RANKING ANALYSIS
- 10.3 COMPETITIVE SCENARIO
- 10.3.1 ACQUISITIONS AND JOINT VENTURES
- 10.3.2 AGREEMENTS
- 10.4 COMPETITIVE LEADERSHIP MAPPING
- 10.4.1 COMPETITIVE LEADERSHIP MAPPING: MAJOR MARKET PLAYERS (2018)
- 10.4.2 VISIONARY LEADERS
- 10.4.3 INNOVATORS
- 10.4.4 DYNAMIC DIFFERENTIATORS
- 10.4.5 EMERGING COMPANIES
11 COMPANY PROFILES
(Business overview, Products offered, Recent developments)*
- 11.1 RADNET, INC.
- 11.2 SONIC HEALTHCARE
- 11.3 DIGNITY HEALTH
- 11.4 NOVANT HEALTH
- 11.5 ALLIANCE MEDICAL (A PART OF DUBAI INTERNATIONAL CAPITAL)
- 11.6 INHEALTH GROUP
- 11.7 MEDICA GROUP
- 11.8 GLOBAL DIAGNOSTICS
- 11.9 HEALTHCARE IMAGING SERVICES PTY LTD.
- 11.10 CONCORD MEDICAL SERVICES HOLDINGS LIMITED
- 11.11 CENTER FOR DIAGNOSTIC IMAGING, INC.
- 11.12 UNILABS
- 11.13 HEALIUS LIMITED
- 11.14 SIMONMED IMAGING
- 11.15 CANADA DIAGNOSTIC CENTRES
Business overview, Products offered, Recent developments analysis might not be captured in case of unlisted companies.
12 APPENDIX
- 12.1 DISCUSSION GUIDE
- 12.2 KNOWLEDGE STORE: MARKETSANDMARKETS' SUBSCRIPTION PORTAL
- 12.3 AVAILABLE CUSTOMIZATIONS
- 12.4 RELATED REPORTS
- 12.5 AUTHOR DETAILS
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