Medical Imaging Services Market Analysis

Medical Imaging Services Market Analysis

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Based on modality, the medical imaging services market is segmented into X-ray imaging, MRI, ultrasound, computed tomography, nuclear imaging, and mammography. MRI segment is projected to experience significant growth in forthcoming years. MRI does not use ionizing radiation, making it a safe imaging modality for patients, particularly for pregnant women and children. The non-invasive nature of MRI contributes to its popularity and utilization in a wide range of patient populations. Additionally, MRI technology has seen significant advancements, leading to improved image quality, faster scan times, and enhanced diagnostic capabilities.
 

The medical imaging services market is segmented by end-use into hospitals, diagnostic centers, clinics, and ambulatory surgical centers. The clinics segment is forecasted to hold high growth potential during the analysis period. High segmental growth is attributable to growing geriatric population base, rising awareness about medical imaging services, and favourable government initiatives towards development of specialty clinics. Further, clinics invest in advanced imaging technology to provide high-quality diagnostic services.
 

U.S. medical imaging services market accounted for more than USD 198 billion in 2022 and will grow momentously to more than USD 314 million by 2032. This high revenue share is mainly attributed to the significant healthcare expenditure, supportive government initiatives, rising disease awareness, etc. Favourable laws and policies implemented in the region by regulatory authorities would further aid the companies operating in the market. Growing geriatric population base and rising awareness regarding medical imaging services will stimulate the regional share during the forecast period. Also, the substantial presence of well-established market participants and the favourable regulatory environment result in a number of product approvals and launches, particularly in the U.S. hence, the potential for market expansion will stimulate over the coming years.