Diagnostic Imaging Services Market by Type (X-ray, MRI, Ultrasound, CT scan, and Nuclear Imaging), Technology (2D and 3D/4D), Application (Oncology, Cardiology, Neurology, Orthopedics, and Gastroenterology), End-user (Hospitals, Diagnostic Centers, and Research Institutes), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
The global diagnostic imaging services market size was USD 589.7 Billion in 2022 and is likely to reach USD 934.6 Billion by 2031, expanding at a CAGR of 5.5% during 2023–2031. The market is driven by the increasing demand for advanced medical imaging solutions and the rising prevalence of various chronic diseases.
The advancements in medical technology and imaging systems are key factors leading to the market expansion of diagnostic imaging services. In addition, the rising prevalence of chronic conditions such as high blood pressure, cancer, diabetes, and heart disease largely contributes to propelling the growth of the diagnostic imaging services market. Diagnostic imaging devices are used for scanning and detecting everything from brain tumors to lung congestion. As a result, the use of these devices has been increasing in diagnostic centers owing to substantial growth in visits for diagnosis purposes.
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As per the report published by the National Institute of Health in 2022, the demand for all diagnostic procedures has been constantly increasing for the past five years, from even before the pandemic. An increment of 4%-5% per annum has been reported in ultrasound, endoscopy, and dual-energy X-ray absorptiometry (DEXA), while a 7% or higher growth was seen for magnetic resonance imaging (MRI), and positron emission tomography (PET) - CT.
Diagnostic imaging helps to gather detailed information about symptoms and changes related to diseases. Different imaging techniques are in high demand to scan the human body for diagnostics purposes, including nuclear medicine, X-rays, magnetic resonance, and ultrasound. This enables physicians to look inside the body and identify the problem while also confirming a diagnosis. Additionally, doctors use diagnostic imaging to monitor a patient's health progress. The diagnosis centers facilitate effective diagnosis of health problems in time, which is often life-saving. These factors increase the demand for diagnostic imaging services and therefore, propel the market.
The research report finds that the COVID-19 pandemic boosted the global diagnostic imaging services market, owing to increased requirements for diagnostic services. The COVID-19 virus generated extreme chest congestion among the patients, causing life-threatening situations. The use of diagnostic services for numerous tests and CT scans helped doctors and healthcare professionals determine the degree of severity of the disease and start the right treatment in time. This resulted in a sharp increase in demand for diagnostic services, propelling the market.
Global Diagnostic Imaging Services Market Dynamics
Major Drivers
Increase in demand for advanced diagnostic tools in the emergency departments of hospitals is anticipated to drive the market during the forecast period. The diagnostic devices help doctors and healthcare professionals make accurate health diagnoses and quick decisions in critical situations. With the advancement of healthcare infrastructure, the use of diagnostic services is growing constantly and is expected to continue expanding, due to the rising healthcare standards and the development of better imaging techniques.
Rise in the global geriatric population is expected to boost the market, owing to the diagnostic requirements for ailments associated with old age. The risk of getting diagnosed with various diseases increases in proportion to age, due to certain deficiencies and decreased immunity. There has been a growth in age-related diseases including arthritis, dementia, Parkinson’s disease, Alzheimer’s disease, and even cancer. Consequently, the rise in the geriatric population raises the requirement for diagnostic imaging services and is therefore projected to drive the market.
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As per the research published by the National Institute of Health in 2022, the global geriatric population is expected to increase from 10% to 16% between the period of 2022 – 2050. By then, it is estimated that people aged 65 and above are likely to be twice the number of children that are under five years of age and almost equal to the number of children that are 12 years or under.
Existing Restraints
Limitations of diagnostic systems are anticipated to hinder the market during the projected period. There are several technical limitations associated with the standalone type of imaging devices that often discourage researchers and healthcare facilities from buying them. For instance, ultrasound imaging systems heavily depend on the operator for functioning and have limited tissue penetration, even though the body is in direct contact with the probe. Similarly, MRIs take a long time to scan large body volumes and provide high-resolution images, while PET scan takes less time but has a low spatial resolution.
Emerging Opportunities
Growing demand for diagnostic imaging services in developing countries is projected to provide significant growth opportunities for the market. Developing countries such as Brazil, Turkey, India, and China have rapidly enhanced healthcare infrastructure, which leads to the rise in the purchase of medical equipment and diagnostic devices with the latest technology. Furthermore, factors such as the rise in disposable income, increasing healthcare awareness, and government reimbursement policies encourage healthcare facilities in availing advanced diagnostic imaging services, thereby boosting the market.
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As per the report published by the National Institute of Health in April 2023, several developing nations are going through an economic transition, with better healthcare knowledge, elevated living standards, and access to technologically advanced medical devices and treatments. In addition, the use of training programs and the deployment of additional resources is further expected to increase the adoption of advanced diagnostic devices.
Scope of the Global Diagnostic Imaging Services Market Report
The market report includes an assessment of the market trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Diagnostic Imaging Services Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
Base Year |
2022 |
Historic Data |
2016–2021 |
Forecast Period |
2023–2031 |
Segmentation |
Type (X-ray, MRI, Ultrasound, CT scan, and Nuclear Imaging), Technology (2D and 3D/4D), Application (Oncology, Cardiology, Neurology, Orthopedics, and Gastroenterology), End-user (Hospitals, Diagnostic Centers, and Research Institutes) |
Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, Market Trends, and Revenue Forecast |
Key Players Covered in the Report |
Carestream Health; CDI - Dr Eric Godreau; CommonSpirit Health; GE HealthCare; Hitachi, Ltd.; Koninklijke Philips N.V.; MedQuest Associates; RadNet, Inc.; Shimadzu Corporation; and Siemens Healthcare GmbH. |
Global Diagnostic Imaging Services Market Segment Insights
Type Segment Analysis
Based on type, the global diagnostic imaging services market is divided into X-ray, MRI, ultrasound, CT scan, and nuclear imaging. The ultrasound segment is projected to hold the major share of the market during the projection period, owing to the increasing number of ultrasound applications. The use of advanced technologies such as ultrasound transducers has expanded the usage potentials of ultrasound devices in cardiovascular and biomedical imaging.
The development of portable ultrasound devices is anticipated to boost the market, due to their extensive demand in ambulatory services and emergency departments. Furthermore, the integration of artificial intelligence (AI) with ultrasound systems, automates the entire process of image selection and quantification, reducing the chances of human error and further contributing to the growth of the market.
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According to the National Institute of Health, the use of ultrasound, as a part of standard care procedures for pregnancy, has increased over the years. The applications of ultrasound systems have also significantly increased in all forms of medical setups, ranging from routine monitoring to physical traumas.
The CT scan segment is anticipated to expand at a significant pace in the market, due to its major demand and high precision. The CT scan services were extensively used during the COVID-19 pandemic, as they were the primary diagnostic tool. The development of CT scanners with advanced visualization and integration with technologies, such as machine learning and artificial intelligence, is expected to propel the segment.
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In October 2019, Canon, one of the prominent market players got approval from the FDA in the United States, for their Advanced Intelligent Clear-IQ Engine (AiCE). It is an artificial intelligence-based technology, developed for integration with its Aquilion Precision scanner.
Technology Segment Analysis
On the basis of technology, the global market is segregated into 2D and 3D/4D. The 2D segment is projected to register a high CAGR during the forecast period, as it is the most widely used technology owing to its efficiency and cost-effectiveness.
Most of the standard reports from various scans need to have a hard copy and using paper to print the hard copies is the most cost-effective means. As a result, while there is a rise in the development of 3D/4D imaging technology, 2D remains the dominant technology and is expected to continue growing over the forecast period.
Application Segment Analysis
On the basis of application, the global diagnostic imaging services market is segmented into oncology, cardiology, neurology, orthopedics, and gastroenterology. The oncology segment is anticipated to register a robust growth rate during the forecast period, due to the increasing prevalence of cancer.
Diagnostic imaging services help in the detection of different types of cancers and in identifying the spread of cancer within the body. Procedures such as CT scan help in detecting abnormal cell growth and devising a treatment plan accordingly, making diagnostic imaging services a primary requirement for the treatment.
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As per the World Health Organization (WHO), cancer is one of the primary causes of death globally. Around 70% of deaths that occur due to cancer are mostly from low- to mid-income countries. The further development of healthcare infrastructure coupled with the growing availability of advanced diagnostics imaging services in developing countries is expected to contribute to lowering the number of cancer casualties.
The neurology segment is projected to register a considerable CAGR during the forecast period, owing to the rising prevalence of neurological diseases throughout the world. Various government and non-government organizations are making heavy investments in therapeutics and diagnostics for the treatment of several neurological ailments. Such developments, along with numerous programs aimed at spreading awareness regarding neurological disorders, are anticipated to provide significant growth in the segment.
End-user Segment Analysis
Based on end-user, the global diagnostic imaging services market is divided into hospitals, diagnostic centers, and research institutes. The hospitals segment is expected to generate a major revenue share of the market, due to the availability of complete treatment facilities for various diseases. The accessibility of diagnostic imaging services within the premises of the hospital ensures quick diagnosis, which helps in starting the treatment early. The increasing prevalence of various diseases such as cancer and cardiac & neurological disorders has led to a rise in the number of patients visiting hospitals for treatment, thereby leading to the segment’s growth.
The diagnostic centers segment is expected to expand at a significant growth rate, as they provide various types of diagnostic imaging services in one place. These services range from X-ray & CT-scan to MRI, which facilitate easier scanning for all types of ailments and traumas that require diagnostic report analysis before treatment. Furthermore, several private diagnostic centers use reimbursement schemes and awareness programs to encourage people for regular medical checkups and scans, thus further promoting their diagnostic imaging services.
Regional Outlook
In terms of region, the global diagnostic imaging services market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to the availability of advanced healthcare analytics, and extensive research and development of diagnostic imaging devices. Moreover, numerous key players in the market are present in this region, which increases the accessibility and awareness of advanced medical facilities, further leading to the growth of the market in North America.
Asia Pacific is projected to have considerable growth during the projection period, owing to factors such as advancing healthcare facilities, rapidly growing economies, and increasing disposable income. The rise in the geriatric population elevates the need for the availability of diagnostic imaging services as a part of geriatric healthcare planning. In addition, the increase in traumatic events such as road accidents and other physical injuries also boost the market.
2. Assumptions and Acronyms Used
3. Research Methodology
4. Diagnostic Imaging Services Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Diagnostic Imaging Services Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Diagnostic Imaging Services Market - Supply Chain
4.5. Global Diagnostic Imaging Services Market Forecast
4.5.1. Diagnostic Imaging Services Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Diagnostic Imaging Services Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Diagnostic Imaging Services Market Absolute $ Opportunity
5. Global Diagnostic Imaging Services Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Diagnostic Imaging Services Market Size and Volume Forecast by Types
5.3.1. X-ray
5.3.2. MRI
5.3.3. Ultrasound
5.3.4. CT scan
5.3.5. Nuclear Imaging
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Diagnostic Imaging Services Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Diagnostic Imaging Services Market Size and Volume Forecast by Applications
6.3.1. Oncology
6.3.2. Cardiology
6.3.3. Neurology
6.3.4. Orthopedics
6.3.5. Gastroenterology
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Diagnostic Imaging Services Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. Diagnostic Imaging Services Market Size and Volume Forecast by End Users
7.3.1. Hospitals
7.3.2. Diagnostic Centers
7.3.3. Research Institutes
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Diagnostic Imaging Services Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Diagnostic Imaging Services Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Diagnostic Imaging Services Demand Share Forecast, 2019-2026
9. North America Diagnostic Imaging Services Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Diagnostic Imaging Services Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Diagnostic Imaging Services Market Size and Volume Forecast by Types
9.4.1. X-ray
9.4.2. MRI
9.4.3. Ultrasound
9.4.4. CT scan
9.4.5. Nuclear Imaging
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America Diagnostic Imaging Services Market Size and Volume Forecast by Applications
9.7.1. Oncology
9.7.2. Cardiology
9.7.3. Neurology
9.7.4. Orthopedics
9.7.5. Gastroenterology
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America Diagnostic Imaging Services Market Size and Volume Forecast by End Users
9.10.1. Hospitals
9.10.2. Diagnostic Centers
9.10.3. Research Institutes
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America Diagnostic Imaging Services Demand Share Forecast, 2019-2026
10. Latin America Diagnostic Imaging Services Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Diagnostic Imaging Services Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Diagnostic Imaging Services Market Size and Volume Forecast by Types
10.4.1. X-ray
10.4.2. MRI
10.4.3. Ultrasound
10.4.4. CT scan
10.4.5. Nuclear Imaging
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America Diagnostic Imaging Services Market Size and Volume Forecast by Applications
10.7.1. Oncology
10.7.2. Cardiology
10.7.3. Neurology
10.7.4. Orthopedics
10.7.5. Gastroenterology
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America Diagnostic Imaging Services Market Size and Volume Forecast by End Users
10.10.1. Hospitals
10.10.2. Diagnostic Centers
10.10.3. Research Institutes
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America Diagnostic Imaging Services Demand Share Forecast, 2019-2026
11. Europe Diagnostic Imaging Services Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Diagnostic Imaging Services Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Diagnostic Imaging Services Market Size and Volume Forecast by Types
11.4.1. X-ray
11.4.2. MRI
11.4.3. Ultrasound
11.4.4. CT scan
11.4.5. Nuclear Imaging
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe Diagnostic Imaging Services Market Size and Volume Forecast by Applications
11.7.1. Oncology
11.7.2. Cardiology
11.7.3. Neurology
11.7.4. Orthopedics
11.7.5. Gastroenterology
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe Diagnostic Imaging Services Market Size and Volume Forecast by End Users
11.10.1. Hospitals
11.10.2. Diagnostic Centers
11.10.3. Research Institutes
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe Diagnostic Imaging Services Demand Share Forecast, 2019-2026
12. Asia Pacific Diagnostic Imaging Services Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Diagnostic Imaging Services Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Diagnostic Imaging Services Market Size and Volume Forecast by Types
12.4.1. X-ray
12.4.2. MRI
12.4.3. Ultrasound
12.4.4. CT scan
12.4.5. Nuclear Imaging
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific Diagnostic Imaging Services Market Size and Volume Forecast by Applications
12.7.1. Oncology
12.7.2. Cardiology
12.7.3. Neurology
12.7.4. Orthopedics
12.7.5. Gastroenterology
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific Diagnostic Imaging Services Market Size and Volume Forecast by End Users
12.10.1. Hospitals
12.10.2. Diagnostic Centers
12.10.3. Research Institutes
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific Diagnostic Imaging Services Demand Share Forecast, 2019-2026
13. Middle East & Africa Diagnostic Imaging Services Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa Diagnostic Imaging Services Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Diagnostic Imaging Services Market Size and Volume Forecast by Types
13.4.1. X-ray
13.4.2. MRI
13.4.3. Ultrasound
13.4.4. CT scan
13.4.5. Nuclear Imaging
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa Diagnostic Imaging Services Market Size and Volume Forecast by Applications
13.7.1. Oncology
13.7.2. Cardiology
13.7.3. Neurology
13.7.4. Orthopedics
13.7.5. Gastroenterology
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa Diagnostic Imaging Services Market Size and Volume Forecast by End Users
13.10.1. Hospitals
13.10.2. Diagnostic Centers
13.10.3. Research Institutes
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa Diagnostic Imaging Services Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global Diagnostic Imaging Services Market: Market Share Analysis
14.2. Diagnostic Imaging Services Distributors and Customers
14.3. Diagnostic Imaging Services Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. Carestream Health
14.4.2. CDI - Dr Eric Godreau
14.4.3. CommonSpirit Health
14.4.4. GE HealthCare
14.4.5. Hitachi, Ltd.
14.4.6. Koninklijke Philips N.V.
14.4.7. MedQuest Associates
14.4.8. RadNet, Inc.
14.4.9. Shimadzu Corporation
14.4.10. Siemens Healthcare GmbH