U.S. Imaging Services Market Size, Share & Trends Analysis Report By Modality (X-ray, Mammography, Nuclear Medicine Scans, Ultrasound, MRI Scans), By End-use (Hospitals, Diagnostic Imaging Centers)- Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S imaging services market size was estimated at USD 122.89 billion in 2022 and is expected to surpass around USD 190.85 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 4.5% during the forecast period 2023 to 2032.

Key Pointers:

• By modality, the U.S.imaging services market was valued at USD 122.89 Billion in 2022 and expected to witness growth at a CAGR of 4.5% from 2023 to 2032.
• Nuclear medicine scans are expected to witness significant growth during the forecast period as the radiation dosage used in the procedure is low, which, in turn, reduces the chance of infection
• MRI scans are expected to grow at a significant rate during the forecast period as they help in better tissue differentiation in comparison to other modalities, such as CT and X-ray
• By end use, hospitals held the largest share in the U.S. market owing to the growing prevalence of cardiac diseases and cancer and the installation of advanced imaging modalities in the hospitals
• Diagnostic imaging centers are expected to witness the fastest growth due to the growing preference of patient pool for these centers to reduce hospital-associated costs and long wait time

The growing prevalence of cancer and cardiac disorders among other conditions is expected to drive the growth. Imaging services involve different imaging modalities, such as X-rays, mammography, CT scans, nuclear medicine scans, MRI scans, and ultrasound. Each modality includes its associated advantages of diagnosing a wide range of healthcare conditions accurately.

Adoption of imaging services in the U.S. is increasing gradually to enhance early diagnosis of the disease, which, in turn, improves its treatment options. Moreover, the 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 the U.S. is increasing rapidly and the installation of advanced imaging devices in these settings is on the rise. As per the Organization for Economic Co-operation and Development (OECD), in 2021, 17.9 per 1,000,000 inhabitants MRI units were installed in hospitals. Moreover, the growing number of CT scans in the U.S. is expected to propel the overall market growth. As per Statista, in 2019, 279 per 1,000 inhabitants CT scans were performed in U.S. Additionally, the low cost of CT scans in comparison to MRI is expected to drive its adoption.

Major challenges in this market include the 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 the 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 Segmentation And Key Players