The Global Diagnostic Imaging Services Market is projected to reach $1078.83 billion by 2028, from a value of $676.08 billion in 2022, by registering a CAGR of 8.1% during the forecast period. Factors such as the rapidly growing geriatric population, increasing demand for diagnostic imaging devices, growing government investment and funding’s for research in modernization of imaging services, the subsequent increase in the prevalence of associated diseases, growing awareness about early disease detection, the widening scope of clinical applications are driving the market growth. However, high cost of diagnostic imaging systems may hamper the market growth. Moreover, adoption of artificial intelligence and blockchain in diagnostic imaging settings is boosting the market growth.
Recent Developments
In May 2021, Philips N.V has launched a newer version of CT, named Spectral CT 7500 utilized mainly for precision diagnosis. In the same year, the GE healthcare system has announced its version of the streamlined POCUS system which is considered as first AI-enabled system for diagnosis of cardiology.
In February 2019, RadNet, Inc. a leading provider of high-quality, cost-effective, and outpatient diagnostic imaging services signed an agreement for acquiring Kern Radiology Medical Group, Inc.’s outpatient radiology practice, a company that owns five imaging centers in Bakersfield, California.
In March 2019, Dignity Health and Shields Health Solutions announced a joint venture that would bring specialty pharmacy services to patients, thereby improving health outcomes and reduce the cost of care. Moreover, the Dignity Health Specialty Pharmacy program, along with Shields’ expertise and knowledge, would offer high-touch personalized patient support for people suffering from complex chronic diseases.
In November 2018, Akumin Inc. acquired four outpatient diagnostic imaging centers in Broward County from Diagnostic Professionals, Inc., and a single imaging center in Kissimmee, Florida. The acquisition of these five centers added to its geographic density in mid and south Florida, enduring its strategic objective of growth in its core markets.
Competitive Landscape
Radnet, Inc., Medica Group, Dignity Health, Hitachi, Ltd., Sonic Healthcare, Consensys Imaging Service, Inc, Siemens Healthineers, Novant Health, MedQuest Associates Inc, Concord Medical Services Holdings Limited, Koninklijke Philips N.V., GE Healthcare, Shimadzu Corporation, Healius Limited, Alliance Medical, Unilabs, Toshiba Corporation, and Fujifilm Corporation are some of the major players in the global Diagnostic Imaging Services market.
