Diagnostic Imaging Services Market Forecast 2031: Advancements in Imaging Modalities and Rising Chronic Disease Diagnosis Drive Expansion | Transparency Market Research, Inc

The global diagnostic imaging services market encompasses a range of non‐invasive procedures-X‐ray, MRI, CT, ultrasound, nuclear imaging, and digital mammography-used to detect, stage, and monitor diseases. Valued at US$ 363.6 Bn in 2021, the market is projected to expand at a 4.1 % CAGR from 2022 to 2031, reaching over US$ 544.7 Bn by the end of the forecast period. Growth is underpinned by rising incidence of chronic disorders, technological integration in imaging workflows, and enhanced reimbursement frameworks.

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Analysts' Viewpoint

Experts highlight that the surge in chronic diseases-cancer, cardiovascular ailments, diabetes-and an aging global population are driving demand for diagnostic imaging services. The fusion of hardware miniaturization, artificial intelligence, and advanced computer vision has accelerated the development of portable and remote‐reading solutions. Service providers are aggressively adopting AI‐enabled platforms to streamline scan protocols, reduce costs, and deliver rapid, high‐resolution insights, positioning the market for sustained growth.

Market Drivers

High Prevalence of Chronic Diseases

Sedentary lifestyles and demographic shifts have led to a rise in cancer, cardiovascular disease, obesity, and diabetes.

Older adults undergo diagnostic imaging at more than twice the rate of younger cohorts, fueling service volumes.

Favorable Reimbursement Policies

Governments in the U.S., Western Europe, Japan, Australia, and China allocate substantial budgets to cover imaging procedures.

In the U.S., Medicare Part B reimburses over 400 million imaging services annually, with planned payment increases for interventional radiology.

Technological Advancements in Computed Tomography

Introduction of multi‐slice CT systems (80-640 slices) and spectral imaging has enhanced scan speed and image clarity.

AI‐driven reconstruction algorithms are reducing radiation dose while preserving diagnostic accuracy.

Rising Cancer Screening Rates

Oncology remains the largest application segment, driven by growing cancer incidence and routine use of CT, MRI, and PET scans for detection and treatment monitoring.

Expansion of Hospital‐Based Services

Hospitals account for the largest end‐user share, offering comprehensive imaging portfolios and attracting high patient inflows.

Diagnostic centers are also growing through joint ventures and acquisitions, creating one‐stop imaging hubs.

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Market Segmentation

By Imaging Modality: X‐ray; Magnetic Resonance Imaging (MRI); Ultrasound; Computed Tomography (CT); Nuclear Imaging; Others

By Application: Cardiology; Gynecology/Obstetrics; Oncology; Orthopedics & Musculoskeletal; Neurology & Spine; General Imaging

By End‐User: Hospitals; Ambulatory Surgical Centers; Diagnostic Centers; Others

Regional and Country Insights

North America: Holds ~40 % share (2021), led by the U.S. adoption of low‐dose automated CT scanners and high chronic disease prevalence.

Europe: Accounted for ~26 % share, with a projected 4.2 % CAGR driven by advanced healthcare infrastructure in Germany, the U.K., and France.

Asia Pacific: Fastest‐growing region, fueled by expanding medical tourism, manufacturing of imaging equipment, and increasing service adoption in China, India, and Japan.

Competitive Landscape
The market is moderately consolidated, dominated by established service providers expanding via acquisitions and partnerships. Key players include:

RadNet, Inc. - Acquired Kern Radiology Medical Group to broaden its California footprint.

Siemens Healthineers - Continues to innovate with high‐slice CT platforms and AI software.

GE Healthcare - Launched an AI‐enabled POCUS system for cardiac diagnostics.

Koninklijke Philips N.V. - Introduced the Spectral CT 7500 for precision imaging.

Hitachi, Ltd.; Carestream Health; Shimadzu Corporation; Dignity Health (CommonSpirit Health).

Future Outlook
Over the forecast period, the diagnostic imaging services market is set to benefit from:

Ongoing AI and machine‐learning integration for automated image analysis.

Expansion of outpatient and mobile imaging services to underserved regions.

Strategic collaborations between imaging service providers and hospital networks to enhance patient access and reduce per‐scan costs.

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FAQs

What modalities are included in diagnostic imaging services?
X‐ray, MRI, CT, ultrasound, nuclear imaging, and digital mammography.

Which factors are driving market growth?
Rising chronic disease burden, technological advancements, and favorable reimbursement policies.

Who are the primary end‐users?
Hospitals lead, followed by ambulatory surgical centers and standalone diagnostic centers.

Which region dominates the market?
North America, due to advanced infrastructure and high adoption of imaging technologies.

Who are the major service providers?
RadNet, Siemens Healthineers, GE Healthcare, Philips, Carestream Health, Hitachi, among others.

Conclusion
Valued at US$ 363.6 Bn in 2021, the global diagnostic imaging services market is projected to surpass US$ 544.7 Bn by 2031, growing at a 4.1 % CAGR. Driven by the rising prevalence of chronic diseases, continual technological innovation, and expanding service networks, the market is poised for robust expansion and enhanced patient outcomes.

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