U.S. Imaging Services Market To Reach $192.9 Billion By 2030

U.S. Imaging Services Market Growth & Trends

The U.S. imaging services market size is expected to reach USD 192.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is anticipated to register a CAGR of 4.25% from 2024 to 2030. The growing prevalence of various conditions, such as cancer and cardiac disorders, is expected to drive the growth. Imaging services involve different imaging modalities, such as X-rays, mammography, CT scans, nuclear medicine scans, MRI scans, and ultrasound. Each modality includes its own associated advantages of diagnosing a wide range of healthcare conditions accurately.

The adoption of imaging services in the U.S. is increasing gradually to enhance early diagnosis of the disease, which, in turn, improves its treatment options. Moreover, the growing adoption of non-invasive and cost-efficient procedures is expected to contribute to market growth. Medical imaging services consume less time in comparison to other invasive procedures and thus help reduce hospital stays and costs associated with it. Various technologies are being developed to enhance medical imaging devices by improving the image quality captured by them. These fine and sharp images help in diagnosing the disease at an early stage, thereby improving its treatment outcomes.

The number of outpatient settings in the U.S. is increasing rapidly and installation of advanced imaging devices in these settings is on the rise. As per the Organization for Economic Co-operation and Development (OECD), in 2021, 17.9 per 1,000,000 inhabitants MRI units were installed in hospitals. Moreover, the growing number of CT scans in the U.S. is expected to propel the overall market growth. As per Statista, in 2019, 279 per 1,000 inhabitants CT scans were performed in the U.S. Additionally, the low cost of CT scans in comparison to MRI is expected to drive its adoption.

Major challenges in this market include the high cost of certain modalities, such as MRI, and the side effects associated with each imaging modality. MRI scans are mainly preferred in diagnosing various conditions as they help in proper tissue differentiation. However, the average cost of the procedure in the U.S. is USD 1,430, which is high in comparison to other imaging modalities, thus hindering the overall market growth.

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U.S. Imaging Services Market Report Highlights

• Based on modality, nuclear medicine scans held the largest share in 2023 mainly due to the radiation dosage used in the procedure being low, which, in turn, reduces the chance of infection

• The X-ray scans are expected to grow at a notable CAGR owing to the adoption of non-invasive procedures for diagnosis at an affordable cost

• MRI scans are expected to grow at the highest CAGR during the forecast period as they help in better tissue differentiation in comparison to other modalities, such as CT and X-ray

• By end-use, hospitals held the largest share in the U.S. market owing to the growing prevalence of cardiac diseases and cancer and the installation of advanced imaging modalities in the hospitals

• Diagnostic imaging centers are expected to witness the fastest growth due to the growing preference of patient pool for these centers to reduce hospital-associated costs and long wait time

• The others segment, which includes outpatient settings developed by hospitals, is also expected to grow at a significant pace over the forecast period, as these settings provide few imaging services, such as MRI and CT, at low cost in comparison to other settings

U.S. Imaging Services Market Segmentation

Grand View Research has segmented the U.S. imaging services market report based on modality and end-use:

U.S. Imaging Services Modality Outlook (Revenue USD Billion, 2018 - 2030)

• X-rays

• CT Scans

• Nuclear Medicine Scans

• MRI Scans

• Ultrasound

• Mammography

U.S. Imaging Services End-use Outlook (Revenue, USD Billion, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

List of Key Players in theU.S. Imaging Services Market

• Radnet, Inc.,

• Alliance Medical,

• Inhealth Group,

• Sonic Healthcare,

• Dignity Health,

• Medica Group,

• Global Diagnostics,

• Novant Health,

• Concord Medical Services Holdings Limited,

• Center for Diagnostic Imaging, Inc.,

• Unilabs,

• Healius Limited,

• Simonmed Imaging.