U.S. Diagnostic Imaging Services Market Size, By Procedure (CT, MRI, X-Ray, Ultrasound, and Others), By Application (Cardiology, Neurology, Oncology, Orthopedics, Gynecology, and Others), By Payor (Public Health Insurance, and Private Health Insurance/Out of pocket), By Setting (Hospitals, Imaging Centers, and Others)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S. diagnostic imaging services market size was exhibited at USD 112.97 billion in 2022 and is projected to hit around USD 241.65 billion by 2032, growing at a CAGR of 7.9% during the forecast period 2023 to 2032.

U.S. diagnostic imaging services market size

Key Pointers:

  • The U.S. decreased from 92 million in 2019 to 73.9 million in 2020, with an annual decline of -21.7%.
  • The American Medical Association (AMA) estimates that by 2032, at least 60.8% of people age 65 and up may have more than one chronic illness.
  • The National Cancer Institute at the NIH, in 2019, around 1,735,451 new cancer cases were diagnosed in the U.S. Therefore
  • The leading causes of death and disability in the U.S. It is the leading driver for healthcare costs in the U.S., with USD 3.8 trillion in annual health care costs.
  • Whereas for the second and further imaging procedures the allowance is 52%.
  • The AAMC, enrollments by the medical schools have increased by 32.0% since 2002.
  • The annual report of RadNet, approximately 41.0% of the imaging happens in non-hospitals like freestanding centers such as RadNet, and around 62.0% of the imaging occurs in the hospital

Report Scope of the U.S. diagnostic imaging services Market

Report Coverage

Details

Market Size in 2023

USD 121.9 Billion

Market Size by 2032

USD 241.65 Billion

Growth Rate from 2023 to 2032

CAGR of 7.9%

Base Year

2022

Forecast Period

2023 to 2032

Segments Covered

By Procedures, By Application, By Payor, By Payor

Key companies profiled

RadNet, Inc. (Los Angeles, U.S.)

Akumin, Inc. (Plantation, U.S.)

Rayus Radiology (St Louis Park, U.S.)

MedQuest (Alpharetta, U.S.)

LucidHealth, Inc. (Columbus, U.S.)

US Radiology Specialists (Raleigh, U.S.)

Radiology Partners (El Segundo, U.S.)

Envision Radiology (Colorado Springs, U.S.)

Capitol Imaging Services (Metairie, U.S.)

 

The impact of COVID-19 was unprecedented and staggering, with diagnostic imaging services witnessing a negative demand across the U.S. during the year 2020. Based on our analysis, the U.S. market exhibited a decline of -17.9% in 2020.

Medical imaging is an ideal diagnostic procedure as it provides vital data with high efficiency and safety. Imaging services include different imaging modalities like x-ray, ultrasound, nuclear medicines scans, MRI, and CT scans, which are non-invasive techniques to diagnose various diseases. Growing technological advancements in MRI modality and widening the application of MRI in the medical field are the key drivers augmenting the U.S. market's growth and has also been boosting global diagnostic imaging services market. Moreover, increasing insurance coverage for medical imaging services coupled with new services launches by key players supports the market growth during the forecast period.

The increased prevalence of chronic diseases such as cancer and cardiovascular diseases is expected to drive the demand for medical imaging procedures. Medical imaging aids in the early diagnosis of diseases and helps in providing effective disease treatment. As per the National Cancer Institute at the NIH, in 2018, around 1,735,350 new cancer cases were diagnosed in the U.S. Therefore, to combat the increasing disease burden, a large number of medical professionals are using medical imaging devices for imaging services before performing the surgical procedures.

Furthermore, based on CDC’s National Center for Chronic Disease Prevention and Health Promotion (NCCDPHP), chronic diseases are considered one of the leading causes of death and disability in the U.S. It is the leading driver for healthcare costs in the U.S., with USD 3.8 trillion in annual health care costs. Every 6 in 10 adults suffer from chronic diseases, and every 4 in 10 adults are suffering from two or more of such diseases.

Among the most common chronic diseases, heart disease is considered one of the leading causes of death in the U.S. Centers for Disease Control and Prevention (CDC) data indicates that more than 34 million Americans suffer from diabetes, while 88 million adults have prediabetes. Diabetes upsurge the risk in cases of stroke heart diseases and can also lead to kidney failure. The increasing prevalence of chronic diseases, sedentary lifestyle, and growing geriatric population is eventually driving the diagnostic imaging services market in the region.

Furthermore, increasing government regulation supporting reimbursement policies is expected to enhance the U.S. market. Many modifications in the U.S. regulations has been done to provide diagnostic imaging services to patients with chronic diseases. As per the radiology services reimbursement policy, the allowance for the technical constituent of the initial procedures is 100%. Whereas for the second and further imaging procedures the allowance is 51%. The allowance for the professional component of the primary procedure is 100%. The allowance for the second and subsequent imaging procedure's professional component is 95%. The increasing insurance coverage and favorable government regulation are the major growth drivers of the U.S. Diagnostic Imaging Services Market.

One of the major factors limiting the U.S. market growth is the shortage of a skilled workforce. As per the result of the AAMC public opinion survey, in 2019, around 35.9% of Americans reported that they had difficulty finding doctors from the past three years before the pandemic. In comparison to 2015, this was a 10.4% increase. The major reason for this shortage is physical retirement and a surge in the accessibility to healthcare.

However, based on the AAMC, enrollments by the medical schools have increased by 30.0% since 2002. But the acceptance rates are still low, and selective medical schools such as Harvard accept only 3.8% of the applicants. The average medical school acceptance rate is around 7.0%. Thus, the shortage of skilled workforce seems to be the biggest restraint in the growth of the number of diagnostic imaging procedures being conducted in the U.S. Furthermore, concerns regarding the side effects of medical imaging procedures are expected to restrain the market growth.

U.S. diagnostic imaging services Market Segmentation

By Procedures By Procedures By Payor By Payor

CT

MRI

X ray

Ultrasound

Others

Cardiology

Neurology

Oncology

Orthopedics

Gynecology

Others

Public Health Insurance

Private Health Insurance/Out of pocket

Hospitals

Imaging Centers

Others

 

Frequently Asked Questions

The U.S. diagnostic imaging services market size was exhibited at USD 112.97 billion in 2022 and is projected to hit around USD 241.65 billion by 2032

The U.S. diagnostic imaging services market is growing at a compound annual growth rate (CAGR) of 7.9% from 2023 to 2032.

The increasing prevalence of chronic diseases, strong demand for imaging procedures, continuous technological developments and product enhancements, and increasing geriatric population are the key drivers of the market.

RadNet, Inc., Rayus Radiology, US Radiology Specialists, and Akumin, Inc., are the top players.

Report Detail

  • Report Code:7784
  • No. of Pages:150+
  • Format:PDF/PPT/Excel

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