Diagnostic Imaging Services Market on Track for Strong Growth, Estimated to Grow at 5.8% CAGR Through 2029

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What Is the Expected CAGR for the Diagnostic Imaging Services Market Through 2025?
The market size of the diagnostic imaging services has witnessed robust growth in recent times. It's expected to expand from $538.26 billion in 2024 to $569.47 billion in 2025, with a compound annual growth rate (CAGR) of 5.8%. The factors causing this steep increase in the past include an ageing population, advancements in healthcare infrastructure, growth of medical tourism, increasing occurrence of diseases, and progression in research and development.

What's the Projected Size of the Global Diagnostic Imaging Services Market by 2029?
The market for diagnostic imaging services is projected to witness significant growth in the imminent years. It is expected to reach a valuation of $713.03 billion in 2029, fuelled by a compound annual growth rate (CAGR) of 5.8%. The anticipated growth during this forecast period can be linked to rising demand for remote diagnostics, personalized treatments, the integration of telemedicine, shift towards results-driven reimbursement strategies, and the adoption of environmentally-friendly procedures. Key trends during this period include the application of blockchain in the healthcare sector, the use of augmented reality (AR) in imaging, the outsourcing of diagnostic services, inclusive imaging and continuous innovations in this field.

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Top Growth Drivers in the Diagnostic Imaging Services Industry: What's Accelerating the Market?
The global surge in instances of chronic ailments is predicted to fuel the expansion of the diagnostic imaging services market. Visualization of the body's interior via diagnostic imaging services such as ultrasound, nuclear medicine, fluoroscopy, radiographs, and CT scans is crucial for identifying various non-communicable or chronic diseases. For example, as per the World Health Organisation's data in February 2022, cancer is a key worldwide mortality cause, leading to nearly one-sixth of deaths equivalent to almost 10 million fatalities. In the United States, an individual succumbs to cardiovascular disease every 34 seconds. According to WHO, this disease is responsible for an estimated 17.9 million worldwide deaths annually. As a result, the growing occurrence of chronic conditions like cancer, cardiovascular disease, stroke, diabetes, and arthritis is likely to stimulate demand in the diagnostic imaging services market.

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What Trends Will Shape the Diagnostic Imaging Services Market Through 2029 and Beyond?
Leading firms in the diagnostic imaging services market are prioritizing the integration of artificial intelligence and blockchain technology to transform diagnostic imaging. The term artificial intelligence refers to the machine-based emulation of human intelligence for tasks typically done by humans. For instance, RadNet, an American healthcare company, introduced an augmented service for breast cancer detection (EBCD) in February 2023. The EBCD service not only aims at enhancing the precision of breast cancer screening for women but also incorporates an in-depth risk assessment for the lifetime probability of breast cancer. This service includes an AI-powered review, dubbed "Accord", that is intended for scrutinizing certain doubtful exams, thus ensuring comprehensive assessments. EBCD also aids patients in comprehending their personal risk aspects and designing personalized screening processes.

What Are the Main 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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Which Top Companies are Driving Growth in the Diagnostic Imaging Services Market?
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

Which Regions Will Dominate the Diagnostic Imaging Services Market Through 2029?
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.

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