U.S. Imaging Services Market Size By Type, By End User, And Forecast
Published Date: August - 2024 | Publisher: MIR | No of Pages: 320 | Industry: latest updates trending Report | Format: Report available in PDF / Excel Format
U.S. Imaging Services Market size was valued at USD 130.7 Billion in 2024 and is projected to reach USD 177.48 Billion by 2031, growing at a CAGR of 4.30% during the forecast period 2024-2031.
U.S. Imaging Services Market Drivers
The market drivers for the U.S. Imaging Services Market can be influenced by various factors. These may include
Technological Developments As medical professionals look for more precise diagnostic instruments, demand for imaging services is driven by ongoing developments in imaging technologies, including MRIs, CT scans, and ultrasounds.
Aging Population Because older people often need more frequent medical imaging for a variety of health issues, the aging population in the United States raises the need for diagnostic imaging services.
Prevalence of Chronic Diseases The need for imaging services is driven by the increasing prevalence of chronic diseases, such as cancer, cardiovascular problems, and neurological conditions, which require routine imaging for diagnosis, treatment planning, and monitoring.
Development of Healthcare Infrastructure As the number of hospitals, clinics, and diagnostic centers rises, so does the need for imaging services to meet the public’s expanding healthcare requirements.
Healthcare Reforms and Insurance Coverage The accessibility and affordability of imaging services are impacted by changes in healthcare policies, insurance coverage, and reimbursement methods, which in turn affect market growth.
Customer knowledge and the Need for Preventive Healthcare The demand for imaging services for routine check-ups and screenings is driven by growing consumer knowledge of the value of preventive healthcare and early disease identification.
Industry Consolidation and alliances Imaging service providers, equipment manufacturers, and healthcare institutions can streamline operations, improve service offerings, and broaden their market reach through mergers, acquisitions, and strategic alliances.
Regulatory Environment Adoption of imaging services and market dynamics are impacted by adherence to regulatory requirements, such as FDA approvals for imaging equipment and quality assurance procedures.
U.S. Imaging Services Market Restraints
Several factors can act as restraints or challenges for the U.S. Imaging Services Market. These may include
High Cost of Imaging Services Accessibility may be hampered by the high cost of imaging services, which includes personnel training, equipment upkeep, and operational costs. This is especially true for those who lack insurance or have inadequate coverage.
Challenges with Reimbursement Reimbursement reductions, policy changes, and delays in payments from public and commercial insurance providers can put pressure on the financial stability of imaging service providers and stifle the expansion of the industry.
Radiation Exposure Concerns Patients’ and healthcare professionals’ reluctance to undergo particular imaging modalities, such CT scans, may be influenced by growing awareness of and worries about radiation exposure. This could have an impact on the use of imaging services.
Costs associated with equipment obsolescence and replacement As a result of rapid technical improvements, imaging equipment becomes obsolete more often than not. This might cause imaging service providers to face financial difficulties when upgrading or replacing their equipment.
Disruptions in the global supply chainsuch as shortages of materials or components for imaging equipment, can cause delays in the purchase, installation, or maintenance of equipment, which can have an effect on service delivery and market expansion.
Regulatory Compliance Weight Strict regulatory requirements, including as HIPAA compliance, patient privacy legislation, and quality assurance standards, place administrative and financial strain on imaging service providers and increase the cost of compliance, which may impede market expansion.
Workforce Shortages and Skills Gap The inability of imaging service providers to satisfy market demand can be hampered by a lack of skilled radiologists, technicians, and support personnel as well as by the ongoing requirement for training in new imaging technology.
Competition from Alternative Diagnostic Modalities As alternative diagnostic modalities, like point-of-care testing, telemedicine, and molecular imaging, become more widely used, traditional imaging services face competition. As a result, providers must differentiate their services and adjust to shifting market conditions.
U.S. Imaging Services Market Segmentation Analysis
The U.S. Imaging Services Market is segmented on the basis of Type and End User.
U.S. Imaging Services Market, By Type
X-rays
Nuclear medicine scans
CT scans
MRI scans
Mammography
Ultrasound
Based on Type, the market is segmented into X-rays, Nuclear medicine scans, CT scans, MRI scans, Mammography, and Ultrasound. The X-rays segment dominated the U.S. Imaging Services Market in 2021. X-rays can be used for detecting various types of illnesses such as cardiovascular, respiratory, and dental, among others. Technological advancement in X-ray imaging devices is also a key contributing factor to the growth of the market. Besides, the CT scans segment is anticipated to grow at the highest CAGR over the forecast period.
U.S. Imaging Services Market, By End User
Hospitals
Diagnostic imaging centers
Others
Based on End User, the market is segmented into Hospitals, Diagnostic imaging centers, and Others. The hospital segment accounted for the highest market share in the U.S. Imaging Services Market in 2021. The rising admission of patients who requires diagnostic imaging services in the U.S. is one of the key factors that is driving the growth of the market. In addition to this, the increasing prevalence of various types of diseases such as cancer is driving the diagnostic imaging services in hospitals.
Key Players
Akumin Inc.
Radnet Inc.
Sonic Healthcare
Dignity Health
Global Diagnostics
RAYUS Radiology
Unilabs
Healius Limited
Simonmed Imaging
Concord Medical Services Holdings Limited
Medica Group
Alliance Medical
Inhealth Group
Dignity Health
Medica Group
Novant Health
Center for Diagnostic Imaging, Inc.
Report Scope
REPORT ATTRIBUTES
DETAILS
Study Period
2021-2031
Base Year
2024
Forecast Period
2024-2031
Historical Period
2021-2023
Unit
Value (USD Billion)
Key Companies Profiled
Akumin Inc., Radnet, Inc., Sonic Healthcare, Dignity Health, Global Diagnostics, RAYUS Radiology, Unilabs, Healius Limited, and Medica Group
Segments Covered
By Type, By End User
Customization scope
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Research Methodology of Market Research
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Reasons to Purchase this Report
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