U.S. Imaging Services Market Size, Share & Trends Analysis Report By Modality (X-ray, Nuclear Medicine Scans, MRI Scans, CT Scans, Ultrasound), By End Use (Hospitals, Diagnostic Imaging Centers), And Segment Forecasts, 2021 - 2028
U.S. Imaging Services Market Growth & Trends
The U.S. imaging services market size is expected to reach USD 192.1 billion by 2028, expanding at a CAGR of 7.3% from 2021 to 2028, according to a new study conducted by Grand View Research, Inc. Growing prevalence of various conditions, such as cancer and cardiac disorders, is expected to drive the market. Imaging services involve different imaging modalities, such as X-ray, 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.
Adoption of imaging services in U.S. is increasing gradually to enhance early diagnosis of the disease, which, in turn, improves its treatment options. Moreover, 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 helps in reducing hospital stay and cost 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 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 2018, 20.6 per 1,000,000 inhabitants MRI units were installed in ambulatory care providers. Moreover, growing number of CT scans in U.S. is expected to propel the overall market growth. As per Statista, in 2017, 255.7 per 1,000 inhabitants CT scans were performed in U.S. Additionally, low cost of the CT scans in comparison to MRI is expected to drive its adoption.
Major challenges in this market include high cost of certain modalities, such as MRI, and 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 U.S. is USD 1,430, which is high in comparison to other imaging modalities, thus hindering the overall market growth.
U.S. imaging Services Market Report Highlights
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