July 15, 2024
U.S. Imaging Services Market

Diagnostic Imaging Services is the largest segment driving the growth of U.S. Imaging Services Market

The global U.S. Imaging Services Market is estimated to be valued at US$ 154.77 Bn in 2023 and is expected to exhibit a CAGR of 5.5% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:
Diagnostic imaging services provide medical imaging techniques used to visualize and diagnose a medical condition through X-ray, MRI, PET-CT and other imaging techniques. These services provide better medical diagnosis and patient care by giving medical image findings.

Market key trends:
One of the key trends in the market is growing preference for early disease diagnosis. Imaging services help in early detection of diseases like cancer. Earlier detection significantly improves survival rates and health outcomes. Advanced and cost-effective imaging technologies are enabling more accurate and early detection of diseases. This is positively impacting the growth of the U.S. imaging services market.

SWOT Analysis

Strength: The U.S. has a well-established healthcare infrastructure and high healthcare expenditure which is supportive for the growth of the imaging services market. Rising adoption of advanced medical imaging technologies also acts as a strength.
Weakness: High installation and maintenance costs of imaging equipment poses significant challenge for small hospitals and clinics. Dearth of skilled radiologists is another weakness.
Opportunity: Increasing prevalence of chronic diseases that require medical imaging for diagnosis present major growth opportunities. Rising geriatric population susceptible to various diseases further augments market opportunities.
Threats: Stringent regulations associated with medical radiation exposure limit over utilization of certain medical imaging modalities. Shortage of helium, which is used in MRI, also threatens sustained market growth.

Key Takeaways
The global U.S. Imaging Services Market Demand is expected to witness high growth, exhibiting CAGR of 5.5% over the forecast period, due to increasing prevalence of chronic diseases. The U.S. imaging services market size for 2023 is US$ 154.77 billion.

Regional analysis
The Northeast region dominates the U.S. imaging services market growth owing to presence of major healthcare players and sophisticated healthcare infrastructure in the states of New York and Pennsylvania. The Southern region also holds significant market share and is poised to register highest CAGR during the forecast period due to rapidly growing geriatric population and their greater healthcare needs in states like Florida and Texas.

Key players
Key players operating in the U.S. Imaging Services market are Medica Group Plc., Dignity Health, InHealth Group, Alliance Medical, RadNet, Inc., Sonic Healthcare Limited, and Global Diagnostic Imaging, among others. These players are focusing on improving service portfolio and using latest medical imaging technologies to strengthen their market position.
Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it