US Diagnostic Imaging Services Market Size [2022-2028] worth USD 176.50 Billion | exhibiting a CAGR of 7.8%

The US Diagnostic Imaging Services Market size was USD 94.31 billion in 2020. The market is expected to grow from USD 104.65 billion in 2021 to USD 176.50 billion in 2028, exhibiting a CAGR of 7.8% during the forecast period.

Pune, India, March 30, 2022 (GLOBE NEWSWIRE) -- The US Diagnostic Imaging Services Market size was USD 94.31 billion in 2020. The market is expected to grow from USD 104.65 billion in 2021 to USD 176.50 billion in 2028, exhibiting a CAGR of 7.8% during the forecast period. High safety and efficiency of the product and growing geriatric population may foster market development. Fortune Business Insights™ provides this information in its report titled “US Diagnostic Imaging Services Market, 2021-2028”.  

U.S. diagnostic imaging services is a medical procedure that provides highly efficient and safe diagnostics. It includes CT scans, MRI scans, nuclear medicines scans, ultrasound, and x-rays. The safety and the efficiency of diagnostic tools may boost the services’ adoption. Furthermore, the rising geriatric population may attract consumers towards effective diagnostic procedures, thereby increasing demand for the services. In addition, increasing insurance coverage and the launch of new diagnostic imaging services may bolster the US Diagnostic Imaging Services Market share.

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Industry Development

  • June 2021- Akumin, Inc. partnered with Royal Philips to establish Philips’ novel Radiology Operations Command Center across Akumin’s outpatient imaging centers.

Global US Diagnostic Imaging Services Market Report 2022 -2028 contains systematic and point to point information regarding to US Diagnostic Imaging Services Market. The report contains brief Introduction, Market analysis by types , applications and regions.Report also contains top Manufacturers Profiles (Name of the manufacturer, Business Overview, Type and Applications and Sales, Price, Revenue, Gross Margin and Market Share).Report also provide global and regional Sales Channel, Distributors, Traders and Dealers with US Diagnostic Imaging Services Market Analysis Value And next four Years forecast value.

Prevalence of Chronic Disorders to Propel Industry Growth

The rising prevalence of cancers and cardiovascular disorders may boost the market’s development. The adoption of diagnostic imaging services allows for the early detection of several disorders. This factor allows for effective treatment procedures, thereby driving the demand for procedures. As per the information provided by the National Cancer Institute in NIH, approximately 1,735,350 cases of cancer were diagnosed in 2018. To tackle cancer cases, several medical professionals utilize diagnostic imaging devices. Additionally, favorable government policies and rising insurance in the U.S. are expected to drive the US Diagnostic Imaging Services Market growth.

However, a skilled workforce shortage may affect the services’ penetration, thereby hampering the diagnostic imaging services industry development.

Decreasing Diagnostic Procedures and Manufacturing Restraints to Hinder Market Growth

This market is expected to be negatively affected during the COVID-19 pandemic because of decreasing diagnostic procedures. The alarming spike in COVID patients reduced the number of diagnostic procedures, thereby hampering diagnostic imaging services demand. Furthermore, restrictions on manufacturing and transport may lead to severe supply chain issues, thereby restraining product sales. However, rising government investments in developing effective healthcare services may boost market development. This factor may help the market’s growth during the pandemic.

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By procedures, the market is segmented into CT, MRI, X-ray, ultrasound, and others. Based on application, it is classified into cardiology, neurology, oncology, orthopedics, gynecology, and others. As per payor, it is clubbed into public health insurance and private health insurance/out of pocket. On the basis of setting, it is categorized into imaging centers, hospitals, and others.

Report Coverage

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.

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Competitive Landscape

Companies Enter into Contracts to Expand Market Reach

Prominent companies operating in the market enter into contracts to expand market reach globally. For example, LucidHealth, Inc. announced a contract to provide interventional and diagnostic radiology services for the Genesis Healthcare System (Genesis). This contract expanded its services in Southeastern Ohio, thereby expanding its market reach. Furthermore, companies utilize novel product launches, collaborations, partnerships, acquisitions, mergers, and research and development strategies to boost service quality and boost their market position.

List of Key Players Profiled in the US Diagnostic Imaging Services Market Report

  • RadNet, Inc. (Los Angeles, U.S.)
  • Akumin, Inc. (Plantation, U.S.)
  • Rayus Radiology (St Louis Park, U.S.)
  • MedQuest (Alpharetta, U.S.)
  • LucidHealth, Inc. (Columbus, U.S.)
  • US Radiology Specialists (Raleigh, U.S.)
  • Radiology Partners (El Segundo, U.S.)
  • Envision Radiology (Colorado Springs, U.S.)
  • Capitol Imaging Services (Metairie, U.S.)

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Major Table of Content:

  • Introduction
    • Market Scope
    • Market Segmentation
    • Market Methodology
    • Definitions and Assumptions
  • Executive Summary
  • Market Dynamics
    • Market Drivers
    • Market Restraints
    • Market Opportunities
  • Key Insights
    • Number of Radiologists, 2020
    • Number of Diagnostic Imaging Centers, 2020
    • Average Cost of Key Services
    • Reimbursement & Regulatory Overview
    • Recent Industry Developments Mergers, Acquisitions & Partnerships
    • Prevalence/Incidence of Key Conditions
    • Total Number of Selective Procedures (CT Scans, MRI Scans, PET Scans, etc.,) 2020
    • Impact of COVID 19 on the Market
  • US Diagnostic Imaging Services Market Analysis, Insights and Forecast, 2017-2028
    • Key Findings / Summary
    • Market Analysis, Insights and Forecast – By Procedure
      •  CT
      •  MRI
      •  X ray
      •  Ultrasound
      •  Others
    • Market Analysis, Insights and Forecast – By Application
      •  Cardiology
      •  Neurology
      •  Oncology
      •  Orthopedics
      •  Gynecology
      •  Others
    • Market Analysis, Insights and Forecast – By Payor
      •  Public Health Insurance
      •  Private Health Insurance/Out of pocket
    • Market Analysis, Insights and Forecast – By Setting
      •  Hospitals
      •  Imaging Centers
      •  Others
  • Comparative Analysis
    • U.S. Market Share Analysis (2020)
    • Company Profiles (Overview, Product Applications & Services, SWOT Analysis, Recent Developments, Strategies, Financials (Based on Availability))
      •  RadNet, Inc.
      •  Akumin, Inc.
      •  Rayus Radiology
      •  MedQuest
      •  LucidHealth, Inc.
      •  US Radiology Specialists
      •  Radiology Partners
      •  Envision Radiology
      •  Capitol Imaging Services

Toc Continued...

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