U.S. Diagnostic Imaging Centers: An Industry Analysis

U.S. Diagnostic Imaging Centers: An Industry Analysis

This analysis by Marketdata examines the $19.5 billion diagnostic imaging centers sector. The business is highly competitive, with 6,500 facilities and with the 50 largest competitors capturing just 29% of the market. There is only one public publicly-owned company that operates a chain of imaging centers, RadNet, with $975 million in sales.

Several positive factors are impacting this industry. The U.S. is the largest medical imaging market globally due to the high disposable income of consumers. The launch of new innovative equipment by major companies will spur growth. In addition, the United States is expected to experience an accelerated rate of aging population, which leads to an increase in the demand for imaging services, since the elderly population is more prone to chronic diseases.

This new study by Marketdata examines the nature of the industry, types of imaging equipment used, national receipts/growth from 2002 to 2023 forecast, healthcare demand factors, key industry trends, industry structure and operating ratios (national and state Census data for establishments and firms), top companies market share, insurance/ Medicare reimbursement trends and more.

Competitor Profiles provided for: RadNet, Center for Diagnostic Imaging, MedQuest Associates, SimonMed/Dignity Health, Touchstone Imaging and Outpatient Imaging Affiliates.

Report Scope and Methodology
Sources and methodology used for the report, report scope.
Nature & Structure of the Industry
Definition and number of diagnostic imaging centers in the U.S. worldwide
Main types of imaging equipment and services: X-rays, CT scans, ultrasound, PET
Scans, MRIs
Discussion of Diagnostic Imaging Modalities (MRI, CT, PET, nuclear medicine, X-ray, ultrasound, mammography, fluoroscopy)
Industry structure: key metrics: no. of facilities, receipts, annual payroll, no. of employees, avg. receipts per facility – 2002, 2007, 2012, 2016. Freestanding outpatient facilities, those based in hospitals, mobile imaging.
Discussion of industry consolidation’s effects, discussion of CMS reimbursement cuts
Factors affecting demand for diagnostic imaging services (aging population,
technology, early disease diagnosis, the economy)
Major industry trends and issues: aging of U.S. population, new applications for imaging technology, broader physician and payor acceptance of the use of imaging, increased consumer awareness of and demand for preventive diagnostic screening, Hybrid Imaging Technology, Contrast Agents in Diagnostic Imaging, Automated CT Scanners
Diagnostic Imaging Centers Operating Models & Strategy
Major Competitors list: imaging companies and equipment manufacturers, major product segments
Discussion of consumer concerns about over-use of imaging procedures
Staffing: job outlook and annual salary for Radiologic and MRI Technologists, Nuclear Medicine Technologists.
- Diagnostic Imaging Centers Industry Snapshot: 2016, 2012, 2007, 2002
Industry Size, Growth, Forecasts
Size / Annual Receipts of the diagnostic imaging centers industry from 2002-2016, official government Census 5-year survey data and annual County Business Patterns data
Marketdata estimates & forecasts of receipts for 2017-2019, 2023 Forecast
Industry Mix – Share of Revenues by Type Diagnostic Imaging Service Rendered: 2012, 2018 (X-ray, MRI, CT scan, ultrasound, nuclear medicine, endoscopy, EEG, MEG, other)
Discussion & analysis of historical growth trends, during last recession, recovery since then, current situation, rationale for forecasts
Estimates of industry size and growth published by other research firms and Marketdata
Discussion of major factors affecting industry growth: CMS reimbursement cuts, demand, aging of population, early disease diagnosis, equipment technology, etc.
- Size of the U.S. the diagnostic imaging centers industry: 2002-2016
- Annual growth rate of the industry: 2007-2016
- Revenues and growth of the leader, RadNet, for 2008-2018
- Forecast Size of the U.S. diagnostic imaging centers industry: 2017, 2018, 2019, 2023
Imaging Procedures Volume Trends
Discussion and statistics related to annual number of imaging procedures performed:
X-rays, MRIs, CT scans, PET scans, mammography, ultrasound, etc.
Industry Economic Operating Ratios
Summary of key industry metrics, NAICS code for the industry, what it includes
- Industry snapshot: 2002, 2007, 2012, 2016: key ratios (payroll, no. estabs., receipts, avg. annual receipts per estab., receipts & payroll per employee)
- Annual % change in receipts: 2007-2016
Industry ratios (no. of firms, establishments, receipts, payroll as % receipts for 2012) by:
• legal form of organization -corporations, sole proprietorships, partnerships: no. of employees).
• Single vs. multi-unit operations, by size (statistics as above)
• Concentration Ratios: ratios for top 4, 8, 20, 50 largest firms
• Receipts size of establishments (under $10,000 to $10+ mill.)
• Receipts size of firms (under $100,000 to $100+ mill.)
- No. of establishments, receipts & avg. receipts per establishment, by state: 2012
- No. of establishments, receipts & avg. receipts per establishment, by state – 2016 2012-2016 receipts growth (County Business Patterns, Marketdata estimates)
Competitor Profiles
(description and history of company, no. of centers operated, headquarters address, specialties, acquisitions, services, financial data when available, 2018 results)
Summary of top 50 firms market share, estimated/actual 2018 receipts of top six chains
• RadNet
• Center for Diagnostic Imaging (CDI)
• MedQuest Associates
• SimonMed/Dignity Health
• Touchstone Imaging
• Outpatient Imaging Affiliates (OIA)
Reference Directory
List of diagnostic imaging/radiology national/regional trade associations, journals, consulting firms, reports, articles, other key contacts – address & phones, description of activities.

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