United States Diagnostic Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

The report covers United States Diagnostic Imaging Services Market Size & Companies and the market is segmented by Product (X-ray, Ultrasound, Magnetic Resonance Imaging (MRI), Computed Tomography, Nuclear Medicine, Fluoroscope, and Mammography), Application (Cardiology, Oncology, Neurology, Orthopedic, Gastroenterology, Gynecology and Other Applications), and End User (Hospitals, Diagnostic Centers and Other End Users). The market provides the value (in USD million) for the above-mentioned segments.

United States Diagnostic Imaging Market Size

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US Diagnostic Imaging Market 1
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Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Historical Data Period 2019 - 2022
CAGR 6.00 %
Market Concentration Medium

Major Players

United States Diagnostic Imaging Market

*Disclaimer: Major Players sorted in no particular order

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United States Diagnostic Imaging Market Analysis

The United States diagnostic imaging market is expected to register a CAGR of nearly 6.0% during the forecast period (2022-2027).

The COVID-19 pandemic is expected to have a significant impact on the United States diagnostics imaging market owing to the decline in the number of imaging procedures performed in the country due to the high infection rate of the COVID-19 and the decline in footfall in the hospitals and diagnostics centers. For instance, as per the August 2020 report of the Department of Radiology, the New York University Langone Health was performing more than 2 million imaging examinations per year before the COVID-19 pandemic, but the number of procedures declined significantly during the COVID-19 pandemic. Further, in April 2020, the American College of Radiology (ACR) issued guidance recommendations specifying that radiologists diagnosing COVID-19 patients should only use diagnostic imaging equipment only when it is necessary. Furthermore, the guidance recommended that the usage of equipment, like MRI and CT scans, should be temporarily halted to curb the contamination with the virus through diagnostic equipment. However, with the potential negative impact of COVID-19 on lungs and other body parts, the use of computed tomography (CT) and magnetic resonance imaging (MRI) increased later with some research and recommendations. For instance, in April 2021, researchers from the Thomas Jefferson University in Philadelphia stated that chest X-ray imaging can potentially help providers prepare for the type of care a patient will need in COVID-19. Therefore, COVID-19 is expected to have a significant impact on the studied market over the forecast period.

The major factors driving the United States diagnostic imaging market include the technological advancement in imaging modalities, growing awareness regarding preventive care, the rising number of diagnostic imaging centers, the increasing prevalence of chronic diseases, and the increasing geriatric population. The United States is expected to experience an accelerated rate of the aging population, as compared to many other developed countries. In January 2022, an article published titled "The Economics of an Aging Population" stated that around 54 million (16.5% of the country's total population) people are over the age of 65 in the United States and by 2030, this number be projected to reach 74 million, with the fastest-growing group is those over 85, and as the geriatric population is more prone to various chronic diseases such as cardiovascular diseases, musculoskeletal and neurodegenerative disorders, cancer and other diseases, the demand for diagnostics imaging is expected to increase in the country which is expected to fuel growth in the diagnostics imaging market in the United States over the forecast period. In addition, according to the June 2022 update of the Centers for Disease Control and Prevention, one or more chronic diseases, such as diabetes, cancer, heart disease, and stroke, affect six out of ten Americans. These and other chronic illnesses are the main contributors to health care costs as well as the major causes of death and disability in the United States. Hence, the high burden of chronic diseases and the increasing geriatric population is expected to play a significant role in the growth of the studied market.

Additionally, the technological advancements in imaging technology by the key market players in the area coupled with the launch of new products, mergers, and acquisitions, collaborations are further expected to play a crucial role in the growth of the diagnostics imaging market in the United States. For instance, in November 2021, FUJIFILM Healthcare Americas Corporation, a subsidiary of FUJIFILM presented its Velocity MRI system which is a high-field open MRI system at the 2021 Radiological Society of North America (RSNA) conference. Therefore, due to the above-mentioned factors, the diagnostics imaging market is expected to grow over the forecast period of the study. However, the lack of skilled professionals and reduction in reimbursement rates are expected to restrain the growth of the United States diagnostics imaging market over the forecast period.

United States Diagnostic Imaging Market Trends

This section covers the major market trends shaping the US Diagnostic Imaging Market according to our research experts:

The Magnetic Resonance Imaging (MRI) Segment is Expected to Account for the Largest Market Share Over Forecast Period

The MRI segment is expected to hold a significant share in the United States diagnostic imaging market over the forecast period. The factors attributing to the high growth of MRI in the country are growing technological advancements in MRI modality and widening the application of MRI in the medical field. Magnetic resonance imaging (MRI) is considered amongst the safest medical imaging procedures, as it does not involve the use of any harmful imaging agents.

The MRI segment is expected to have a significant share in the United States diagnostics imaging market majorly due to the high burden of chronic diseases in the country, especially neurodegenerative disorders where MRI is used widely. For instance, according to the March 2021 report of the Alzheimer's Association, approximately 6.2 million people of age 65 years and more are living with Alzheimer's-related dementia in the United States, and it is projected that this number will increase to 13.8 million people by 2060. Further, the technological advancement in MRI technology and the launch of new and advanced products are also expected to fuel growth in the studied segment as new product launches are expected to increase the adoption of MRI systems. For instance, in June 2022, Memorial MRI and Diagnostic installed uMR Omega 3T MRI system from the United Imaging in an outpatient imaging center in Katy and Memorial's first 3T MRI in the Houston area. Therefore, owing to the above-mentioned factors, the magnetic resonance imaging (MRI) segment is expected to hold a significant market share in the United States diagnostics imaging market over the forecast period.

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United States Diagnostic Imaging Industry Overview

The United States diagnostic imaging market is fairly competitive, owing to the presence of many key players. The market players are focusing on R&D to develop technologically advanced products to reduce the cost and side effects associated with the products. The barriers for the new entrants are high in this industry, and hence, few major market players hold the maximum market share. The major players include GE Healthcare, Siemens Medical Solutions USA, Inc. (Siemens Healthineers), Hologic, Inc., Koninklijke Philips NV and FUJIFILM Holdings Corporation.

United States Diagnostic Imaging Market Leaders

  1. FUJIFILM Holdings Corporation

  2. GE Healthcare

  3. Koninklijke Philips NV

  4. Hologic, Inc.

  5. Siemens Healthineers

*Disclaimer: Major Players sorted in no particular order

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United States Diagnostic Imaging Market News

  • In June 2022, Promaxo Inc. sold its in-office MRI system to East Valley Urology Center. It is a single-sided MRI with an AI-based imaging system, FDA cleared for in-office use and empowers practices and hospitals to accurately and seamlessly guide prostate interventions under the Promaxo scanner.
  • In May 2022, Baptist MD Anderson Cancer Center launched the Buddy Bus, a mobile mammography unit in Florida.

United States Diagnostic Imaging Market Report - Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Technological Advancement in Imaging Modalities

      2. 4.2.2 Rising Number of Diagnostic Imaging Centers

      3. 4.2.3 Increasing Prevalence of Chronic Diseases and Rising Geriatric Population

    3. 4.3 Market Restraints

      1. 4.3.1 Dearth of Radiologists

      2. 4.3.2 Reduction in Reimbursement Rate

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 5.1 By Product

      1. 5.1.1 X-ray

      2. 5.1.2 Ultrasound

      3. 5.1.3 Magnetic Resonance Imaging (MRI)

      4. 5.1.4 Computed Tomography

      5. 5.1.5 Nuclear Medicine

      6. 5.1.6 Fluoroscope

      7. 5.1.7 Mammography

    2. 5.2 By Application

      1. 5.2.1 Cardiology

      2. 5.2.2 Oncology

      3. 5.2.3 Neurology

      4. 5.2.4 Orthopedic

      5. 5.2.5 Gastroenterology

      6. 5.2.6 Gynecology

      7. 5.2.7 Other Applications

    3. 5.3 By End User

      1. 5.3.1 Hospitals

      2. 5.3.2 Diagnostic Centers

      3. 5.3.3 Other End Users

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Canon Inc.

      2. 6.1.2 Carestream Health Inc. (Onex Corporation)

      3. 6.1.3 Esaote SpA

      4. 6.1.4 Fujifilm Medical Systems (Fujifilm Holdings Corporation)

      5. 6.1.5 GE Healthcare

      6. 6.1.6 Hologic, Inc.

      7. 6.1.7 Konica Minolta, Inc.

      8. 6.1.8 Koninklijke Philips NV

      9. 6.1.9 Shimadzu Medical

      10. 6.1.10 Siemens Healthineers

      11. 6.1.11 MinXray, Inc.

      12. 6.1.12 KUB Technologies, Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Competitive Landscape covers- Business Overview, Financials, Products and Strategies and Recent Developments
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United States Diagnostic Imaging Industry Segmentation

As per the scope of the report, the United States diagnostic imaging market covers diagnostic imaging used to take images of the internal structure of the human body using electromagnetic radiation, for accurate diagnosis of the patient. It has vast applications in a variety of oncological, orthopedic, gastro-, and gynecological fields. The United States Diagnostic Imaging Market is segmented by Product (X-ray, Ultrasound, Magnetic Resonance Imaging (MRI), Computed Tomography, Nuclear Medicine, Fluoroscope, and Mammography), Application (Cardiology, Oncology, Neurology, Orthopedic, Gastroenterology, Gynecology, and Other Applications), and End User (Hospitals, Diagnostic Centers and Other End Users). The report offers the value (in USD million) for the above segments.

By Product
X-ray
Ultrasound
Magnetic Resonance Imaging (MRI)
Computed Tomography
Nuclear Medicine
Fluoroscope
Mammography
By Application
Cardiology
Oncology
Neurology
Orthopedic
Gastroenterology
Gynecology
Other Applications
By End User
Hospitals
Diagnostic Centers
Other End Users
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United States Diagnostic Imaging Market Research FAQs

The United States Diagnostic Imaging Market is projected to register a CAGR of 6% during the forecast period (2024-2029)

FUJIFILM Holdings Corporation, GE Healthcare, Koninklijke Philips NV, Hologic, Inc. and Siemens Healthineers are the major companies operating in the United States Diagnostic Imaging Market.

The report covers the United States Diagnostic Imaging Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the United States Diagnostic Imaging Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.

U.S. Diagnostic Imaging Services Industry Report

Statistics for the 2024 U.S. Diagnostic Imaging Services market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. U.S. Diagnostic Imaging Services analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.

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United States Diagnostic Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)