Diagnostic Imaging Services Market Emerging Trend, Top Companies, Industry Demand and Regional Analysis
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Diagnostic Imaging Services Market Overview
The Global Diagnostic Imaging Services Market is projected to grow
at a CAGR of 5.30% over the forecast period. In recent years, diagnostic
imaging services improved their efficiency and accuracy for the of various
acute and chronic diseases including cardiovascular diseases and cancer. The
increasing prevalence of geriatric population and subsequent growth in the
incidence of cardiac, and neurological diseases including cancer, growing
government funding’s for development of medical diagnostics field, and the
on-going technological advancements in imaging services are some factors that
are anticipated to drive the market growth during the assessment period. Additionally, increasing demand for
diagnostic imaging devices and development expenditure by the government as
well as private sector is likely to contribute to the Diagnostic
Imaging Services Market growth. As per the data by the Office for
National Statistics, in 2022, the gross domestic expenditure on research and
development (R&D) was Euro 33.1 billion (USD 35.2 billion) in the UK.
However, high cost of diagnostic imaging devices and unfavorable reimbursement
policies may hamper the market growth during the assessment period.
On the
other hand, revised health care reforms and high cost of imaging devices may
hamper the market growth during the assessment period.
Market Segmentation
The Global diagnostic imaging services market has
been segmented into procedure, application, and service provider.
By procedure, the market has been segmented into
X-ray, Computed Tomography, Ultrasound, MRI (Magnetic Resonance Imaging),
Nuclear Imaging, Radiography and others. The procedure segment is estimated to
hold major market share in the global diagnostic imaging services market due to
the rising R&D activities in the medical diagnostics field.
On the basis of application, the market has been
segmented into Neurology, Cardiology, Oncology, Musculoskeletal and others.
The market, by service provider, has been segmented
into Clinics & Hospitals, Diagnostic centers, Research laboratories and
others.
Regional Analysis
On regional basis, the Americas is anticipated to
dominate the global diagnostic imaging services market owing to the growing
clinical R&D budgets by both government as well as public and private
organizations in diagnostic imaging modalities and increasing adoption of
advanced technologies in the region. Additionally, rising prevalence of
geriatric population along with various chronic diseases is contributing the
growth of this market. According to a report by Population Reference Bureau,
the number of older population (aged 65 and above) will rise to nearly 24% from
15% by 2060. Europe is expected to hold the second largest position in the
global diagnostic imaging services market owing to the presence of strong
academic & research base and availability of funding for research in the
European countries. Moreover, rising healthcare expenditure and awareness among
people for detection of diseases is boosting the market in this region. The
Asia-Pacific region is anticipated to be fastest growing region is due to
rising demand for imaging devices, good quality healthcare infrastructure and
incidence of major key players for growth and development in this region. The
Middle East & Africa has the least share of the market. Moreover, the major
market share of the region is expected to be held by the Middle East region
owing to the increasing government initiatives for the healthcare sector.
Key Players
global diagnostic imaging
services market Players are Center for Diagnostic Imaging (CDI), Medquest
Associates Inc./Novant Health, Simonmed/Dignity Health, Touchstone Imaging,
Alliance Medical, Medica Group, Sonic Healthcare, Global Diagnostics, Consensys
Imaging Service, Inc., Progressive Radiology, Concord Medical Services Holdings
Limited, Alliance Healthcare Services, InHealth Group and others.
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