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Rising Global Incidence Of Chronic Illness Drives Growth In Diagnostic Imaging Services Market: An Emerging Driver Transforming The Diagnostic Imaging Services Market Landscape
Diagnostic Imaging Services
What Is the Diagnostic Imaging Services Market Size and Projected Growth Rate?
Over the past few years, there has been robust growth in the size of the diagnostic imaging services market. From $538.26 billion in 2024, it is set to increase to $569.47 billion in 2025, exhibiting a compound annual growth rate (CAGR) of 5.8%. Factors such as an aging population, development in healthcare infrastructure, medical tourism, prevalence of diseases, and advances in research and development have contributed to this significant growth in the historic period.
The market for diagnostic imaging services is set to experience robust expansion in the upcoming years, projecting a valuation of $713.03 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.8%. This growth during the forecast period is due to a rise in requirements for remote diagnostics, personalized healthcare, incorporation of telemedicine, a shift towards outcome-focused reimbursement schemes, and the adoption of environmentally friendly measures. Key trends expected during this forecast period encompass the introduction of blockchain technology in healthcare, the incorporation of augmented reality (AR) in imaging, the outsourcing of diagnostic services, comprehensive imaging, and continuous advancements in imaging.
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What Are the Major Segments in the Diagnostic Imaging Services Market?
The diagnostic imaging services market covered in this report is segmented -
1) By Type: X-Ray Imaging, Ultrasound, Magnetic Resource Imaging, Computed Tomography, Nuclear Imaging, Mammography
2) By Application: Cardiology, Gynecology Or OBS, Orthopedics And Musculoskeletal, Oncology, Neurology And Spine, General Imaging
3) By End User: Hospitals, Diagnostic Imaging Centers, Ambulatory Imaging Centers, Other End Users
Subsegments:
1) By X-Ray Imaging: Conventional X-Ray, Digital X-Ray, Fluoroscopy
2) By Ultrasound: Diagnostic Ultrasound, 3D Or 4D Ultrasound, Doppler Ultrasound
3) By Magnetic Resonance Imaging (MRI): Closed MRI, Open MRI, Functional MRI (fMRI)
4) By Computed Tomography (CT): Single-Slice CT, Multi-Slice CT, Cone Beam CT
5) By Nuclear Imaging: Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Bone Scintigraphy
6) By Mammography: Screen-Film Mammography, Digital Mammography, 3D Mammography
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What Are The Driving Diagnostic Imaging Services Market Evolution?
The growth of the diagnostic imaging services market is anticipated to get a boost from the global surge in chronic illness incidences. These services, which include ultrasound, fluoroscopy or nuclear medicine, radiographs, and CT scans, offer visualization of the body's interior for the diagnoses of a range of non-communicable or chronic ailments. As an illustration, WHO data from February 2022 proclaims that cancer, accounting for almost one-sixth or nearly 10 million deaths, topped the list of global causes of death. In the context of the USA, a cardiovascular disease-related death occurs every 34 seconds. As per WHO, approximately 17.9 million people worldwide succumb to cardiovascular disease annually. Therefore, the burgeoning prevalence of chronic conditions, like cancer, cardiovascular disease, stroke, diabetes, and arthritis, will lead to an escaladed demand in the diagnostic imaging services market.
Which Firms Dominate The Diagnostic Imaging Services Market Segments?
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
What Trends Are Driving Growth in The Diagnostic Imaging Services Market?
Primary businesses in the diagnostic imaging services sector are prioritizing the integration of artificial intelligence and incorporation of blockchain technology to revolutionize diagnostic imaging. Artificial intelligence, also known as AI, is the simulation of human intellect by machines intended to carry out tasks that usually require human intervention. For instance, in February 2023, RadNet, a healthcare firm based in the US, introduced an advanced service for breast cancer detection (EBCD) with the objective of refining the accuracy of breast cancer screenings in women. This service also incorporates an additional AI-influenced review, known as "Accord", for specific dubious examinations, ensuring thorough reviews. Moreover, EBCD offers a comprehensive lifetime risk evaluation for breast cancer, acquainting patients with their individual risk elements and shaping personalized screening procedures.
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Which Is The Largest Region In The Diagnostic Imaging Services Market?
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.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Diagnostic Imaging Services Market?
2. What is the CAGR expected in the Diagnostic Imaging Services Market?
3. What Are the Key Innovations Transforming the Diagnostic Imaging Services Industry?
4. Which Region Is Leading the Diagnostic Imaging Services Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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