Diagnostic Imaging Centers Market

Diagnostic Imaging Centers Market Outlook (2022-2027)

The global diagnostic imaging centers market evolution at a CAGR of 5.2% over the next five years. Currently, the market is valued at US$ 83 billion and is predicted to reach US$ 107 billion by the end of 2027.

Growing incidence of viral outbreaks and increasing investments in healthcare infrastructure development are majorly expected to drive demand for diagnostic imaging centers in China at a high CAGR of around 8% through 2027.

Report Attributes	Details
Market Size (2022)	US$ 83 Billion
Projected Year Value (2027F)	US$ 107 Billion
Global Market Growth Rate (2022-2027)	5.2% CAGR
China Market Value (2027F)	US$ 19 Billion
United States Market Value (2022)	US$ 22 Billion
Germany Market Growth Rate (2022-2027)	3.5% CAGR
Key Companies Profiled	Fujifilm Holdings Corporation Carestream Health Inc. General Electric Company Hitachi Medical Corporation Siemens Shimazdu Corporation SimonMed/Dignity Health Hologic Inc. Medical Imaging Corp. Samsung Medison Co. Ltd. Touchstone Imaging Center for Diagnostic Imaging RadNet Inc. Koninklijke Philips N.V.

Revenue Analysis of Diagnostic Imaging Centers (2017-2021) in Comparison to Market Growth Forecasts (2022-2027)

The past couple of decades have witnessed a substantial rise in the prevalence of chronic diseases and this has led to an increased demand for diagnostic imaging services.

The world is also witnessing a rise in its aging population, which is more prone to chronic diseases, and hence, this is also expected to favor diagnostic imaging centers market potential over the coming years.

Growing investments in healthcare infrastructure development and rising demand for early diagnostics are also expected to drive market growth. Technological advancements in medical imaging are also projected to play a key role in diagnostic imaging centers market development over the next five years.

This Fact.MR survey predicts the diagnostic imaging centers market to progress at a CAGR of 5.2% from 2022 to 2027.

Increasing patient pool requiring medical diagnostic imaging, a rise in healthcare spending, the establishment of advanced diagnostic centers, and supportive government initiatives are other factors that could drive market potential across the forecast period.

The aforementioned factors are also expected to favor the demand for diagnostic imaging services through 2027. However, the high costs of diagnostic imaging procedures and the absence of a favorable reimbursement structure are anticipated to restrain the overall market growth to a certain extent throughout the forecast period.

Which Factor is Decisively Augmenting Diagnostic Imaging Centers Market Growth?

“Growing Senescent Population across the World”

The aging population across the world is rising at a noticeable pace and this is expected to drive up the demand for diagnostic imaging services as this geriatric population is more prone to chronic illnesses.

The prevalence of age-associated diseases is also expected to increase notably along with other chronic diseases such as cancer, cardiovascular disorders, etc., and these are also expected to drive demand for diagnostic imaging centers over the coming years.

What Could Hamper Diagnostic Imaging Centers Market Progress?

“Absence of Clarity in Reimbursement Policies for Diagnostic Imaging”

Reimbursement has been a major issue in the healthcare industry and has decisively turned the tide of many healthcare trends and treatments over the past few years.

Reimbursement for medical diagnostic imaging is unclear and many healthcare insurance providers provide coverage for a limited number of diagnostic imaging procedures. This is expected to act as a restraining factor for the diagnostic imaging centers market growth as diagnostic imaging services are expensive in most cases.

How Can New Diagnostic Imaging Centers Make a Mark in This Space?

“Start-ups Can Explore Use of Artificial Intelligence in Diagnostic Imaging”

Technological advancements in medical diagnostic imaging are expected to be the prime area where new market entrants can shine by providing novel and innovative imaging solutions.

Aspiring market players can especially focus on the utilization of artificial intelligence in medical imaging and make a mark in the global diagnostic imaging centers marketplace.

• In August 2022, GE Healthcare and Nex Cubed selected 7 start-ups for the inaugural Edison Accelerator in Canada. 16 Bit, Bot Image, Cardiowise, Contextflow, Corelinesoft, Us2.ai, and Circle Cardiovascular Imaging are the seven companies that will test their technologies with GE over the next three months. Most of these start-ups are utilizing artificial intelligence in some form to optimize medical imaging.

This latest market study of diagnostic imaging centers by analysts at Fact.MR, a market research and competitive intelligence provider, has a detailed assessment of how new entrants and key players are operating in the market and what strategies they could adopt to increase their business potential.

How Will the Diagnostic Imaging Centers Market Fare Across Regions?

“North America Accounts for Dominant Market Share”

The North America diagnostic imaging centers market currently accounts for a major market share and is projected to maintain a similar stance across the forecast period.

Growth of the diagnostic imaging centers market in this region can be primarily ascribed to the rapid adoption of novel imaging technologies, presence of developed healthcare infrastructure, growing geriatric population, and rising incidence of chronic ailments such as cancer.

The Canadian diagnostic imaging centers market is slated to expand at a CAGR of around 4% through 2027.

The Europe diagnostic imaging centers market is anticipated to be governed by the growing prevalence of chronic diseases and the rising geriatric population. Rapid technological advancements in medical diagnostic imaging and their increasing popularity are also expected to favor diagnostic imaging centers market potential in this region.

Germany is expected to be a prime market in this region and demand for diagnostic imaging centers in this country is predicted to increase at a CAGR of 3.5% over the next five years.

Rising investments in healthcare infrastructure development, the increasing popularity of early diagnostics, and supportive government initiatives are predicted to propel the demand for diagnostic imaging centers in the Asia Pacific region over the next five years.

China, India, and Japan are anticipated to be the most notable markets in this region owing to an increased focus on healthcare and the growing geriatric population in these economies. The Japan diagnostic imaging centers market is estimated to expand at a CAGR of 3% from 2022 to 2027.

Country-wise Insights

Why is Demand for Diagnostic Imaging Centers Increasing across the United States?

“Rising Aging Population & Presence of Developed Healthcare Infrastructure”

The U.S. diagnostic imaging centers market currently holds a prominent market share in the global industry landscape and is expected to maintain a similar stance over the next five years as well. The nation has a developed healthcare infrastructure and high healthcare expenditure, which promotes the demand for medical diagnostic imaging and subsequently favors diagnostic imaging centers market potential.

Increasing incidence and awareness of breast cancer in the country is anticipated to propel the demand for breast cancer diagnostic centers over the coming years.

Growing geriatric population, increasing incidence of chronic diseases such as cancer, rapid adoption of novel imaging technologies, and the presence of key diagnostic imaging center providers are other factors that drive the market in this country.

At present, the diagnostic imaging centers market in the U.S. enjoys a valuation of US$ 22 billion.

Is China a Lucrative Market for Diagnostic Imaging Centers?

“Supportive Government Initiatives & Growing Patient Pool Driving Diagnostic Imaging Demand”

China is known as the most populous country in the world and this makes it a highly lucrative healthcare market. The country has witnessed a noticeable increase in the prevalence of cancer and other chronic diseases over the past few years and this has led to increased demand for diagnostic imaging services in the country.

Rising focus on healthcare, supportive government initiatives to advance healthcare infrastructure, and a growing patient pool are other factors that are expected to favor market potential throughout the forecast period.

The diagnostic imaging centers market in China is slated to evolve at a high CAGR of 8% over the coming years and is anticipated to attain an approximate valuation of US$ 19 billion by the end of 2027.

Category-wise Insights

Which Type of Diagnostic Imaging Will Drive Market Potential Going Forward?

“Computer Tomography (CT-Scan) Centers Slated to Lead Revenue Generation”

The global diagnostic imaging centers market based on product is segmented into computer tomography (CT-Scan) centers, medical radiological laboratories, dental or medical x-ray laboratories, ultrasound imaging centers, and magnetic resonance imaging (MRI) centers.

The popularity of computer tomography has been increasing over the past few years owing to growing awareness of its high accuracy and early results. CT scans are being recommended by medical professionals for the diagnosis and treatment of various diseases such as cancer and this is expected to drive the establishment of computer tomography (CT-Scan) centers over the coming years.

The computer tomography (CT-Scan) centers segment is projected to hold a value of US$ 12 billion by the end of 2027. Demand for medical radiological laboratories is anticipated to increase at a CAGR of around 5.4% over the next five years.

Competitive Landscape :

Diagnostic imaging center providers are focusing on expanding their business scope by enhancing their network and providing affordable services to patients to drive their revenue generation capacity.

• In January 2022, UnitedHealthcare, a managed healthcare and insurance provider based in the United States, announced the launch of a new program, which will allow patients to avail low-cost imaging services. Diagnostic centers and hospitals that are in contract with UHC had to submit an online questionnaire to become a Designated Diagnostic Provider.

Key Segments in Diagnostic Imaging Centers Industry Research

• By Type :

  • Computer Tomography (CT-Scan) Centers
  • Medical Radiological Laboratories
  • Dental or Medical X-ray Laboratories
  • Ultrasound Imaging Centers
  • Magnetic Resonance Imaging (MRI) Centers

• By Region :

  • North America
  • Latin America
  • Europe
  • APAC
  • MEA