United States Diagnostic Imaging Market Outlook 2031
The United States diagnostic imaging market size was USD 122.4 Billion in 2022 and is projected to reach USD 221.2 Billion by 2031 expand at a high CAGR 6.8% during the forecast period, 2023–2031. The growth of the market is attributed to increasing incidence of chronic illnesses, and growth in elderly population.
To establish a patient's health and course of therapy, the diagnostic process collects data and performs complicated analysis. The most important part of health treatment is accurate diagnosis.
Diagnostic imaging is used to help determine a patient's path to treatments or surgery. The increased global frequency of chronic illnesses has resulted in a rise in the number of diagnostic imaging operations conducted each year. According to the centers for disease control and prevention (CDC), approximately 80% of older people in the United States have at least one chronic illness.
According to data from the National Institutes of Health (NIH), individuals aged 65 and above have two or more times the number of diagnostic imaging procedures as the younger group. Women are anticipated to have diagnostic imaging procedures performed somewhat more frequently than males.
CT scans are increasingly being used as a first-line diagnostic tool for illnesses such as coronary artery disease, as well as in preventative treatment and early detection, such as lung cancer screening.
Recently some of the most notable trends in the diagnostic imaging market has been witness which helps in increasing the share market such as hybrid imaging technology which provide structural as well as functional information in just one examination, another is imaging systems that use low doses of ionizing radiation decreasing the detrimental effects of radiation on patients.
The COVID-19 epidemic has had both beneficial and detrimental effects on the market. One of the negative consequences is that hospitals, particularly small-scale hospitals and imaging centers, have extremely restricted purchasing capability. On the other hand, advanced medical imaging equipment, such as chest X-rays and computed tomography, give useful information about COVID-19.
United States Diagnostic Imaging Market Trends, Drivers, Restraints, and Opportunities
- Insurance coverage policies of elderly population are anticipated to boost the market in coming years.
- Government partnership with local manufactures to improved diagnostic imaging services in remote locations is expected to drive the market.
- Improving healthcare infrastructure and rising diagnostic center are projected to fuel the market in the coming years.
- Artificial intelligence and IOT devices enable monitoring and testing is estimated to propel the market.
- Rapid growth of the healthcare industry is the major factor driving the market.
- Expensive cost of diagnosis process acts as key challenges that can hamper the market growth.
- Ultrasound procedures are highly operator dependent which is expected to hinder the market expansion.
- R&D investment and technological advanced imaging and software are expected to create significant opportunities for the market players.
Scope of Diagnostic Imaging Market Report
The report on the United States diagnostic imaging market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Diagnostic Imaging Market - United States Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Applications (Orthopedic, Gastroenterology, Gynecology, Cardiology, Oncology, and Neurology), Products (Nuclear Medicine, Fluoroscope, Mammography, X-ray, Ultrasound, Magnetic Resonance Imaging (MRI), and Computed Tomography), End Users (Hospitals, Diagnostic Centers, and Others)
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Country Scope
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United States
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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GE Healthcare; Hitachi Medical Systems; Koninklijke Philips NV; FUJIFILM Holdings Corporation; Siemens Medical Solutions USA, Inc.
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United States Diagnostic Imaging Market Segment Insights
The cardiology segment is projected to constitute a large market share
Based on applications, the United States diagnostic imaging market is divided into orthopedic, gastroenterology, gynecology, cardiology, oncology, and neurology. The cardiology segment is expected to represent a key share of the market during the forecast period owing to rising demand for cardiac arrhythmia monitoring devices among individual to track and manage their own health.
The magnetic resonance imaging (MRI) segment is expected to grow at a robust pace
On the basis of products, the United States diagnostic imaging market is segmented into nuclear medicine, fluoroscope, mammography, x-ray, ultrasound, magnetic resonance imaging (MRI), and computed tomography. The magnetic resonance imaging (MRI) segment is expected to represent a key share of the market in the coming years due to increasing technological developments in the MRI spectrum and expanding use of MRI in healthcare
The diagnostic centers segment is anticipated to expand at a rapid CAGR
In terms of end users, the United States diagnostic imaging market is divided into hospitals, diagnostic centers, and others. The diagnostic centers segment is expected to hold a key share of the market during the forecast period owing to growing specialty centers also increasing number of medical tourists for diagnosis and treatments in the country.
Segments
The global United States diagnostic imaging market has been segmented on the basis of
Applications
- Orthopedic
- Gastroenterology
- Gynecology
- Cardiology
- Oncology
- Neurology
Products
- Nuclear Medicine
- Fluoroscope
- Mammography
- X-ray
- Ultrasound
- Magnetic Resonance Imaging (MRI)
- Computed Tomography
End Users
- Hospitals
- Diagnostic Centers
- Others
Country
Key Players
Competitive Landscape
Key players competing in the United States diagnostic imaging market include GE Healthcare; Hitachi Medical Systems; Koninklijke Philips NV; FUJIFILM Holdings Corporation; Siemens Medical Solutions USA, Inc.
Some of these players are coming with several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares. For instance,
In 2021, Venue Fit, a simplified and small POCUS device, and an industry-first AI service for cardiology were released by GE Healthcare (US).
In 2021, The Biograph Vision Quadra, a PET/CT scanner for clinical usage and translational research, obtained FDA authorization in 2021 from Siemens Healthiness.
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