Business

Market Dynamics and Recent Developments in the Diagnostic Imaging Services

Posted on by Radhika Udasi

Diagnostic imaging services are estimated to have a CAGR of around 5.5% during the forecast period (2024-2031). The market growth is primarily driven by the increasing prevalence of chronic diseases including arthritis, cardiovascular diseases, asthma, cancer, and Chronic Obstructive Pulmonary Disease (COPD), among others. Additionally, the increasing prevalence of CVD has been significantly contributing to the market as ultrasound guides biopsies, diagnoses heart conditions, and assesses damage after a heart attack.

The global diagnostic imaging services market is segmented by modality (x-ray, ultrasound, computed tomography, magnetic resonance imaging (MRI), mammography, and others (nuclear imaging)), by application (oncology, orthopedics, cardiovascular, neurology, urology, others (fluoroscopy)), and by geographies (North America, Europe, Asia-Pacific, and Rest of the World).

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Market Dynamics

  • The oncology segment held a considerable share of the market owing to the growing application of diagnostic imaging in various cancer types coupled with the increasing prevalence of cancer across the globe. Additionally, rising chronic diseases will directly increase diagnostic imaging services across the globe.
  • Asia-Pacific is estimated to have considerable market growth during the forecast period owing to the high prevalence of different types of cancer coupled with growing awareness towards diagnosis in economies such as India, China, and Japan.
  • North America is projected to hold a significant market share owing to the high prevalence of diseases. Major economies such as the US and Canada are anticipated to contribute to the North American diagnostic imaging market, attributed to the rising demand in the diagnosis of various cardiovascular diseases, cancer, and other diseases along with having an application for pregnant women.

The major players in the global diagnostic imaging services market include Center for Diagnostic Imaging, Inc., Dignity Health, Global Diagnostics, Healius Ltd., Healthcare Imaging Services Pty Ltd., InHealth Ltd., Novant Health, and others. The market players are contributing significantly to the market growth, by the adoption of various business strategies, such as collaborations, mergers and acquisitions, product portfolio diversification, and more.

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Recent Developments

  • In October 2024, the TRA Medical Imaging Foundation announced the establishment of a dedicated mobile mammography unit, MobileMammo NW, helping the underserved communities in the South Sound. It would be a Washington non-profit corporation established to advance life-saving screening mammography services.
  • In May 2024, Diagnostic Imaging for Women (difw), together with Volpara Health announced significant advancements in applying AI to mammography quality assurance, at the Australian Society of Medical Imaging and Radiation Therapy (ASMIRT). Volpara Analytics™ AI software application improved both diagnostic accuracy and operational efficiency at difw, Brisbane’s premier tertiary women’s imaging center, over a period of 12 months.
  • In November 2023, FUJIFILM Healthcare Americas Corp. unveiled several new medical systems at the 2023 Radiological Society of North America (RSNA) annual meeting. The new imaging systems on display included three new Digital Radiography (DR) suites, two new fluoroscopy systems, a 0.4T MRI system, and a 128-slice Computed Tomography (CT) system.
  • In November 2022, Canon Medical Systems USA Inc. launched its non-obsolescence program for Computed Tomography and Magnetic Resonance imaging modalities. The product ascertains effective care delivery.

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Radhika Udasi