Medical Imaging Services Market - By Modality (X-Ray Imaging, MRI, Ultrasound, Computed Tomography, Nuclear Imaging, Mammography), By End-use (Hospitals, Diagnostic Centers, Clinics, Ambulatory Surgical Centers) – Global Forecast to 2032
Published Date: August - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationMedical Imaging Services Market Size
Imagine you're going to the doctor because you're not feeling well. They might use some special tools to take pictures of the inside of your body. These pictures help them see what's going on and figure out what's wrong. Now, there's a whole industry for these "medical imaging services." In 2022, people spent over $590 billion on them. And it's expected to grow even bigger, reaching over $968 billion by 2032. These services use different technologies, like X-rays, MRIs, and CT scans. They help doctors see what's inside your body, so they can find out what's causing your illness and how to treat it. The industry is growing because doctors are getting better at using these technologies and patients are more interested in them. Plus, the government is making it easier for people to get these services covered by insurance. And guess what? Artificial intelligence (AI) is changing the game. Computers are getting better at reading these pictures and helping doctors make decisions. This means we can expect even more advancements in medical imaging in the years to come!
Moreover, development of disease management services for early diagnosis and detection of various diseases such as cancer, cardiovascular diseases, etc. will trigger the demand for technologically advanced medical imaging services amongst healthcare professionals thereby, augmenting the business growth. In addition, strategic partnerships and collaborations are among the major strategies adopted by companies to strengthen their service portfolio and customer base along with gaining significant market share. Thus, all these factors, taken together, are projected to augment industry growth.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Medical Imaging Services Market Size in 2022 | USD 590.3 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 5.1% |
| 2032 Value Projection | USD 968.1 Billion |
| Historical Data for | 2018 to 2022 |
| No. of Pages | 289 |
| Tables, Charts & Figures | 196 |
| Segments covered | Modality, End-use, and Region |
| Growth Drivers |
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| Pitfalls & Challenges |
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COVID-19 Impact
When the COVID-19 pandemic hit, it shook the world of medical imaging. Hospitals had to put off or even cancel a lot of routine scans and checkups to make sure they had enough resources for COVID-19 patients and to keep the virus from spreading. As a result, fewer people were getting medical imaging services. The pandemic also made it harder for medical imaging services to run smoothly. They had to follow new rules to control infection, keep people apart, and wear personal protective equipment (PPE). This meant longer wait times for scans, more time between patient appointments for cleaning, and changes to how appointments were scheduled. But as things got better, the demand for imaging services started to go up again. Hospitals focused on keeping everyone safe by following safety rules, using telemedicine, dealing with the backlog of cases, and using more artificial intelligence (AI) and automation.
Medical Imaging Services Market Trends
Imagine a world where medical imaging is like a superhero with turbocharged powers! In recent years, it's been all about innovation and upgrades. First, we've got AI superheroes coming to the rescue. They're like high-tech assistants, crunching through medical images faster and smarter than ever before. They can help doctors find hidden problems, make diagnoses quicker, and even reduce the scary radiation we're exposed to during scans. Then, there's the mind-blowing 3D and 4D imaging. Think of it as medical imaging with a whole extra dimension! Instead of just flat pictures, you get a 3D model that you can rotate and explore, like a virtual anatomy lesson. This helps doctors see and understand problems like never before.
Medical Imaging Services Market Analysis
Based on modality, the medical imaging services market is segmented into X-ray imaging, MRI, ultrasound, computed tomography, nuclear imaging, and mammography. MRI segment is projected to experience significant growth in forthcoming years. MRI does not use ionizing radiation, making it a safe imaging modality for patients, particularly for pregnant women and children. The non-invasive nature of MRI contributes to its popularity and utilization in a wide range of patient populations. Additionally, MRI technology has seen significant advancements, leading to improved image quality, faster scan times, and enhanced diagnostic capabilities.
The medical imaging services market is segmented by end-use into hospitals, diagnostic centers, clinics, and ambulatory surgical centers. The clinics segment is forecasted to hold high growth potential during the analysis period. High segmental growth is attributable to growing geriatric population base, rising awareness about medical imaging services, and favourable government initiatives towards development of specialty clinics. Further, clinics invest in advanced imaging technology to provide high-quality diagnostic services.
The medical imaging industry in the United States is booming, with a massive market share of over $198 billion in 2022. It's expected to soar even higher, reaching a whopping $314 million by 2032! This explosion in revenue is thanks to big bucks being spent on healthcare, government support, and people becoming more aware of diseases. Laws and policies that encourage medical imaging are making it easier for companies to jump into the game. As our population ages, more people are getting sick and needing these services. Plus, the growing awareness of medical imaging is driving demand. With a bunch of well-known companies in the market and a friendly legal environment, new products are getting the green light faster than ever. This is helping the market explode with potential for even more growth in the years to come.
Medical Imaging Services Market Share
Some of the notable key industry players operating in the medical imaging services market include
- HCA International Limited
- Alliance Medical Limited (Life Healthcare Group)
- Spire Healthcare Group plc
- Nuffield Health
- Circle Health Group Ltd
- Royal Brompton Hospital
- The Royal Marsden
- The London Clinic
- Ramsay Health Care UK
- In Health
- Aspen Healthcare
- Medica Group PLC
- Qure.ai
- Vista Health
- Global Diagnostics
- The Medical Chambers Kensington
- Xyla Elective Care
- Pall Mall Medical Diagnostic Centre
- Diagnostic Healthcare
- Echelon Health
- Medical Imaging Partnership
- Welbeck Health Partners
- Zwanger-Pesiri Radiology
- Phoenix Hospital Group
- RadNet, Inc
- Akumin Inc
- RAYUS Radiology
- Touchstone Medical Imaging
- Envision Radiology
- Zwanger-Pesiri Radiology
- DIGIRAD HEALTH, INC
- Imaging Healthcare Specialists LLC
- American Health Imaging
- Shields Health Care Group Inc
- Jefferson Radiology
- SimonMed
- Inland Imaging
- Charlotte Radiology
- Radiology Associates of North Texas, P.A.
- Midwest Radiology
- Diagnostic Imaging NW
- Solis Mammography
- Northwest Radiology Network, PC
- InterMountain Medical Imaging
- TGH Imaging (Tower Radiology Centres)
- Roadrunner Radiology
- National Diagnostic Imaging
- Green Imaging
- Concord Imaging Center
- Sonic Healthcare
- GenesisCare
- I-MED Radiology Network
- Integral Diagnostics
- Capitol Health
- Perth Radiological Clinic
- Qscan Group Holdings Pty Ltd
- Lake Imaging
- Imaging Associate
- Illawarra Radiology Group
- Carlisle Health Pty Ltd
- PRP Diagnostic Imaging
- Direct Radiology
- Castlereagh Imaging
- Exact Radiology Clinics
- Victorian Imaging Group
- South West Radiology
- Vision XRAY
- ClinRad Imaging
- East Coast Radiology
- Southern Radiology
- Adelaide MRI
- Melbourne Radiology Clinic
- Australian Radiology Clinics
- Western Radiology
These market participants are implementing various growth strategies such as collaborations, partnerships, acquisitions & mergers, and new product development and launches to strengthen product offerings as well as gain a competitive edge over others.
Medical Imaging Services Market News
- In August 2022, Life Healthcare acquired the non-clinical imaging operations of Eugene Marais Radiology based at Life Eugene Marais Hospital in Pretoria. This has helped company to grow and diversify its portfolio across its southern African operations
- In September 2022, Carlisle Health Pty Ltd acquired Bundaberg Radiology Group (BR Radiology Group). BR Radiology Group offers a broad range of diagnostic & imaging services at multiple locations in Queensland. This acquisition helped the company to enter the Australian medical imaging market & assisted in bolstering its industry position.
Medical imaging services market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032 for the following segments
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By Modality (USD Million)
- X-Ray Imaging
- MRI
- Ultrasound
- Computed Tomography
- Nuclear Imaging
- Mammography
By End-use (USD Million)
- Hospitals
- Diagnostic centers
- Clinics
- Ambulatory Surgical Centers
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Switzerland
- The Netherlands
- Poland
- Belgium
- Sweden
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- New Zealand
- Indonesia
- Thailand
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Chile
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
- Iran
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