Diagnostic Imaging Services Market is expected to reach USD 749.09 billion by the year 2026 | Top Key Players RadNet, Inc, Alliance Medical, Global Diagnostics, Sonic Healthcare, Novant Health

According to the current analysis of Reports and Data, the Diagnostic Imaging Services market was valued at USD 509.52 million in 2018 and is expected to reach USD 749.09 billion by the year 2026, at a CAGR of 4.9%. Diagnostic imaging, widely known as medical imaging, is a diagnostic method that includes the use of electromagnetic radiation and other technologies, which produce images of internal structures of the body that help inaccurate diagnosis. Medical imaging significantly, X-ray based diagnosis and ultrasonography, is crucial in a variety of medical examination processes and at all major levels of health care. The growing prevalence of chronic diseases, including significantly cardiovascular diseases and cancer, is expected to drive the market in the future.

This report covers the recent COVID-19 incidence and its impact on Diagnostic Imaging Services Market. The pandemic has widely affected the economic scenario. This study assesses the current landscape of the ever-evolving business sector and the present and future effects of COVID-19 on the market.

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Key participants in the market include RadNet, Inc, Alliance Medical, Global Diagnostics, Sonic Healthcare, Novant Health, Concord Medical Services Holdings Limited, Center for Diagnostic Imaging, Inc., InHealth Group, Siemens Healthineers, and MedQuest Associates, Inc.

The growing geriatric population across the world could also propel market growth. This population is extensively prone to chronic diseases due to which they prove to be a growth factor for the market. The increasing awareness about early disease diagnosis among people for better treatment may also be a growing factor for the market. Moreover, the increasing initiatives taken by various government and healthcare institutions to spread awareness about diagnostic test services may drive the market in the future. The use of diagnostic tests is expanding with the introduction of new diseases in the market, which may anticipate the industry in the future.

Some other factors that may hamper the market growth include the high cost of diagnostic services and reduced reimbursement scenario for outpatients.

For the purpose of this report, Reports and Data has segmented the Diagnostic Imaging Services market on the basis of type, technology, application and region:

By Type Outlook (Revenue in Million USD; 2016–2026)

• X-ray Imaging
• Magnetic Resonance Imaging (MRI)
• Computed Tomography (CT)
• Ultrasound
• Nuclear Imaging
• Mammography

By Technology Outlook (Revenue in Million USD; 2016–2026)

• 2D
o BnW
o Color
• 3D/4D

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By Application Outlook (Revenue in Million USD; 2016–2026)

• Orthopedics
• Cardiovascular
• Neurology
• Pelvic & Abdomen
• Oncology
• General Radiography
• Dentistry
• Fluoroscopy
• Obstetrics & Gynecology
• Mammography
• Others

Regional Outlook (Revenue in Million USD; 2016–2026)

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America

Further key findings from the report suggest

• Mergers and acquisitions are expected to drive the market widely as various key players have merged to form new products. For instance, in May 2018, RadNet got into a merger with Emblem Health to expand the company’s diagnostic imaging services in New York. Furthermore, RadNet has known to acquire various key market players to keep its strong presence in the market.

• In 2019, RadNet acquired Kern Medical Group’s outpatient radiology practice. Kern Medical Group is a California based company with five established medical centers in Baskerfield, California, U.S.

• In March 2019, a joint agreement between Dignity Health and Shields Health Solutions was introduced wherein specialty services for patients including diagnosis of complex chronic diseases.

• In November 2018, Akumin Inc. acquired four of the major outpatient diagnostic imaging centers from Diagnostic Professionals, Inc and also a single medical center from Florida. Due to these acquisitions, Akumin had a strong hold on the region which contributed to huge growth for the company.

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Key selling points of this research study

1. The study gives an in-depth evaluation of the evolving competitive scenario that gives the reader/client a competitive edge.

2. It offers a holistic view of all critical aspects boosting or limiting the growth of the sector

3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.

4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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