Diagnostic Imaging Services Market Size Worth USD 865 Billion by 2030 at 5.30% CAGR – Report by Market Research Future (MRFR) – GlobeNewswire
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New York, USA, Sept. 26, 2022 (GLOBE NEWSWIRE) — Diagnostic Imaging Services Market Overview
According to a Comprehensive Research Report by Market Research Future (MRFR), “Diagnostic Imaging Services Market Information by Procedure, Application, Service Provider, and Region – Forecast till 2030”, the Diagnostic Imaging Services market will be thriving at a rate of 5.30% while touching USD 865 billion by 2030.
Diagnostic Imaging Services Market Scope
Diagnostic imaging services help diagnose and monitor a variety of medical conditions. Various kinds of diagnostic imaging services are MRI scans, X-ray imaging procedures, ultrasounds, nuclear imaging, and CT scans. Diagnostic radiology as well as digital mammography are useful for cancer diagnostics in diagnostic imaging centers.
Diagnostic radiology helps take pictures of anatomy and bones inside the body during the diagnosis procedure. Ultrasound, X-rays, nuclear medicine scans, and MRI and CT scans are a few major examples of diagnostic radiology.
Digital mammography, on the other hand, helps electronically record the radiographic image in a digital format with the use of computer-based electronic conductors. It finds use in early screening as well as diagnosing of breast diseases.
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Diagnostic Imaging Services Market Competitive Landscape:
The eminent vendors in the diagnostic imaging services industry are
Companies are focused on launching innovative, more upgraded versions of their products to foster their geographical presence worldwide. Strategic contracts and alliances are quite common among various medical device manufacturers and distributors. These alliances allow the manufacturers to procure the license to sell their products while reducing their liability in case of any adverse event or product recalls.
Diagnostic Imaging Services Market Dynamics:
Diagnostic imaging services are extensively used for conducting a variety of non-invasive imaging tests for diagnosing and monitoring conditions, diseases or injuries by developing images showcasing the internal organs as well as structures within the body. Healthcare personnel are progressively using diagnostic imaging services to assess and identify precise medical conditions. These services are useful in detecting various issues like broken bones, gastrointestinal issues, cardiac abnormalities, various cancer types, aneurysms, and more. Favorable foreign direct investment policies, escalating awareness regarding advanced imaging technologies, and ease of use can bolster the market expansion rate in the following years.
Surging cases of chronic disorders like cardiovascular ailments as well as cancer, mushrooming geriatric population, and the rise in technological innovations have given way to cutting-edge diagnostic imaging equipment with crucial applications in surgical procedures. The massive need for faster and better patient outcomes also enhances the diagnostic imaging services industry. As a result, these services are now the most preferred recourse in the healthcare industry. Other than this, favorable reimbursement schemes as well as policies that prevent expensive therapeutic treatments and induce cost savings will also benefit the diagnostic imaging services market in subsequent years.
The intensifying demand for state-of-the-art, innovative diagnostic imaging modalities in teaching hospitals and universities for education and training purposes will positively affect the worldwide market. This has become a common trend in developed economies; however, it is fast catching up in developing nations as well. Besides, alliances between the players will also leave a synergistic effect on the global industry, given that these partnerships induce the exchange of cutting-edge technologies, thereby accelerating product development.
Factors such as the significant costs of diagnostic imaging equipment along with the poor reimbursement structure with respect to outpatient imaging facilities could curb the market growth rate in the years to come. Moreover, several health facilities worldwide remain unaware of the advantages of these systems, accompanied by poor medical infrastructure and economic standards. This can bring down the market demand in these countries in the years ahead.
Moreover, the lack of standardization regulations and policies for catheters can also work against the global market.
Browse In-depth Market Research Report (90 Pages) on Diagnostic Imaging Services: https://www.marketresearchfuture.com/reports/diagnostic-imaging-services-market-7186
Market COVID 19 Analysis
The COVID-19 outbreak has had a significant effect on various businesses. The medical sector is now in urgent need of effective covid patient care. The diagnostic market is therefore noting sustained demand during this period. Medical equipment like diagnostic imaging devices are frontline instruments and are proving to be quite useful during these times.
Diagnostic Imaging Services Market Segmentation
X-ray Imaging, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, Nuclear Imaging, and Mammography are the procedure-based segments covered in the MRFR study.
The Computed Tomography segment can anticipate the highest growth rate in the following years, thanks to continuous technological innovations and the surge in clinical applications worldwide. It is an advanced technique using computerized X-ray imaging to generate cross-sectional images of the whole body, offering doctors a highly intrinsic view of various body parts.
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General Radiography, Dentistry, Fluoroscopy, Magnetic Resonance Imaging, Orthopedics, Cardiovascular, Pelvic & Abdomen, Oncology, Ultrasound, Neurology, Cardiovascular, Obstetrics & Gynecology are the primary applications of diagnostic imaging services.
The oncology segment has clinched the top position in the diagnostic imaging services industry, with the trend expected to continue all through the review period. The segmental growth can be ascribed to the rising cases of different types of cancer and the resultant increase in the adoption of diagnostic imaging procedures for detecting the condition.
By Service Provider
Hospitals, Diagnostic Centers, Ambulatory Care Centers, and Research and Academia are the key service providers in the market.
Diagnostic Imaging Services Market Regional Insights
North America will most likely be procuring the leading spot in the diagnostic imaging services industry in subsequent years, considering the rising instances of chronic disorders, particularly among the elderly populace. The surging cancer cases, the strong presence of a well-established healthcare sector, and the substantial adoption of the latest medical technologies will also ensure strong growth of the regional market.
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The Asia Pacific market growth will be speeding ahead at the fastest pace in the years to follow, thanks to the dramatic increase in chronic disorders and the surge in healthcare spending. Focus on business growth among major industry participants in the region coupled with the increasing disposable income in India and China will further enhance the growth prospects.
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