Diagnostic Imaging Services Market Report 2025

The diagnostic imaging services market size has grown strongly in recent years. It will grow from $538.26 billion in 2024 to $569.47 billion in 2025 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to aging population, healthcare infrastructure development, medical tourism, disease prevalence, research and development.

The diagnostic imaging services market size is expected to see strong growth in the next few years. It will grow to $713.03 billion in 2029 at a compound annual growth rate (CAGR) of 5.8%. The growth in the forecast period can be attributed to increased demand for remote diagnostic, personalized medicine, telemedicine integration, shift towards outcomes-based reimbursement models, adoption of eco-friendly practices. Major trends in the forecast period include blockchain in healthcare, augmented reality (AR) in imaging, outsourcing diagnostic services, inclusive imaging, continuous imaging innovations.

The escalation in chronic illnesses globally is anticipated to drive the expansion of the diagnostic imaging services sector. Utilizing modalities such as ultrasound, fluoroscopy, nuclear medicine, radiographs, and CT scans, these services aid in diagnosing various non-communicable diseases. For instance, in February 2022, cancer stood as a primary cause of global mortality, accounting for nearly one in six deaths, nearing 10 million annually. Similarly, in the USA, cardiovascular disease claims a life every 34 seconds. This surge in chronic conditions, including cancer, cardiovascular diseases, stroke, diabetes, and arthritis, is expected to propel the demand for diagnostic imaging services.

The increasing healthcare expenditure is projected to drive the growth of the diagnostic imaging services market in the coming years. Healthcare expenditure refers to the total amount of money spent on healthcare goods and services within a specific timeframe, typically measured at a national or regional level. Spending on diagnostic imaging services constitutes a significant and growing segment of overall healthcare costs. The advancement of new and more sophisticated imaging technologies, such as MRI, CT scans, and PET scans, has enabled the diagnosis of a broader range of conditions with enhanced accuracy. However, these advanced technologies often come with a higher price tag. For example, a report by Health Affairs, a U.S.-based academic journal, indicated in June 2024 that the national healthcare expenditure in the U.S. is anticipated to increase from $4.79 trillion in 2023 to $5.04 trillion in 2024, reflecting a rise of approximately $249.5 billion. Consequently, the growth in healthcare expenditures is fueling the expansion of the systemic diagnostic imaging services market.

Leading companies in the diagnostic imaging services market are increasingly focusing on adopting artificial intelligence (AI) and blockchain technology to transform the field of diagnostic imaging. AI refers to the simulation of human intelligence by machines to carry out tasks that typically require human cognition. For example, in February 2023, RadNet, a healthcare company based in the U.S., introduced an enhanced breast cancer detection (EBCD) service designed to improve the accuracy of breast cancer screenings for women. This service includes an additional AI-driven review called 'Accord' for specific suspicious exams, ensuring comprehensive evaluations. Additionally, EBCD offers an in-depth lifetime risk assessment for breast cancer, aiding patients in understanding their individual risk factors and informing tailored screening protocols.

The players in the diagnostic imaging services market are entering into strategic collaborations to make Innovations in medical Imaging. Collaborations drive tech advances, expand markets, ensure compliance, and enhance patient outcomes in diagnostic imaging. For instance, in September 2023, Mayo Clinic, a US-based Health care company, and GE HealthCare Technologies, Inc., a US-based multinational medical technology company, have formed a strategic collaboration focused on innovating medical imaging and theranostics. The partnership targets advancements in MRI technologies, development of theranostic agents for precise tumor imaging, improvement of ultrasound efficiency through AI, and enhancing the patient experience with data, AI, and digital health tools. The partnership aims to transform the experience of patients and clinicians in the practice of radiology and drive healthcare capabilities through clinical translation and adoption of advanced technologies.

In April 2024, Shimadzu Medical Systems, a healthcare technology company based in the U.S., acquired California X-ray Imaging Services for an undisclosed amount. This acquisition is intended to bolster Shimadzu's presence in the healthcare market by utilizing established relationships and expertise to improve service support and drive growth in Northern California and Nevada. California X-ray Imaging Services specializes in providing diagnostic imaging services, including X-rays and various other imaging modalities.

Major companies operating in the diagnostic imaging services market include Hitachi Ltd., Siemens Healthineers AG, Fujifilm Holdings Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Sonic Healthcare Ltd., Hologic Inc., Mindray Medical International Limited, Varian Medical Systems Inc., Shimadzu Corporation, Agfa-Gevaert Group NV, Carestream Health Inc., Bracco Imaging S.p.A., RadNet Inc., Neusoft Medical Systems Co. Ltd., Konica Minolta Healthcare Americas Inc., Alliance Healthcare Services Inc., Analogic Corporation, Samsung Medison Co. Ltd., Canon Medical Systems Corporation, Esaote S.p.A., MedQuest Associates Inc., Novarad Corporation, Swissray Global Healthcare Holding Ltd., Aurora Imaging Technology Inc., Planmed Oyj, CurveBeam LLC.

North America was the largest region in the diagnostic imaging services market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic imaging services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the diagnostic imaging services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Diagnostic imaging services use noninvasive techniques to visualize internal body structures for diagnosing illnesses.

Diagnostic imaging services encompass various modalities, including X-ray imaging, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging, and mammography. X-ray diagnostic imaging specifically focuses on utilizing electromagnetic waves to create internal images of the body. It's among the oldest and most prevalent medical imaging techniques. These diagnostic modalities find applications across multiple medical specialties such as cardiology, gynecology/obstetrics, orthopedics & musculoskeletal, oncology, neurology, spine, and general imaging. Diagnostic imaging services are commonly accessed in hospitals, diagnostic imaging centers, ambulatory imaging centers, and various other medical facilities aimed at providing comprehensive imaging and diagnosis to patients.

The diagnostic imaging services market research report is one of a series of new reports that provides diagnostic imaging services market statistics, including diagnostic imaging services industry global market size, regional shares, competitors with an diagnostic imaging services market share, detailed diagnostic imaging services market segments, market trends and opportunities, and any further data you may need to thrive in the diagnostic imaging services industry. This diagnostic imaging services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The diagnostic imaging services market includes revenues earned by entities by diagnostic radiology, fluoroscopy and PET scans. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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