U.S. Independent Diagnostic Testing Facility Market Size, Share & Trends Analysis Report By Service (Radiology/Imaging Services, Cardiac Monitoring Services, Sleep Studies)-Industry Analysis, Share, Growth, Regional Outlook and Forecasts, 2023-2032

The U.S. independent diagnostic testing facility market size was estimated at USD 3.5 billion in 2022 and is expected to surpass around USD 5.45 billion by 2032 and poised to grow at a compound annual growth rate (CAGR) of 4.5% during the forecast period 2023 to 2032.

U.S. Independent Diagnostic Testing Facility Market Size

Key Pointers:

  • The radiology/imaging services segment accounted for the largest revenue share of 57.5% in 2022
  • In 2022, the radiology/imaging service segment held the largest revenue share owing to the rising application of imaging modalities for the effective & early detection of disease
  • The sleep studies segment is anticipated to witness significant growth over the forecast period owing to the rising awareness regarding the effects of shorter sleep and sleep disorders on health, with the rising prevalence of acute health disorders in the country
  • The regulatory and reimbursement scenario for IDTFs is changing in the U.S. to allow IDTFs to provide services with less stringent regulations. For instance, in December 2022, the Centers for Medicare and Medicaid Services (CMS) exempted the IDTFs performing non-in-person, indirect tests from IDTF program integrity requirements mentioned in § 410.33(g)
  • Mergers & acquisitions and product development are some of the key strategies the market players undertake. For instance, in February 2021, CB Scientific, Inc. entered into a definitive agreement to acquire New York-based Medicare-certified IDTF, Cardiolink Corporation.

U.S. independent diagnostic testing facility Market Report Scope

Report Coverage Details
Market Size in 2023 USD 3.66 billion
Market Size by 2032 USD  5.45 billion
Growth Rate from 2023 to 2032 CAGR of 4.5%
Base Year 2022
Forecast Period 2023 to 2032
Segments Covered Service
Companies Covered RadNet, Inc.; Equimed Corporation; Vitalistics; Breathe; Texas MRI; The Brookwood Diagnostic Center; ACS Diagnostics, Inc.; Houston MRI & Diagnostic Imaging; TestSmarter Inc.; Duke University and Duke University Health System; Covenant Health Diagnostics; AliveCor, Inc.; Advanced Cardio Services; Diagnostic Medical Testing Inc.; K & T Diagnostic, Inc.; Vestavia Diagnostic Center (VDC); Advanced Imaging Center

The growing demand for diagnostic tests, the rising geriatric population, and the increasing burden of chronic diseases are expected to be major drivers for market growth. According to the U.S. Census Bureau, in mid-2019, there were around 54 million Americans in the age group of 65 years and above. This population is expected to reach more than 83 million by 2040.

Noninvasive diagnostic testing, such as voluntary full-body scans, is gradually being used as a screening tool for precautionary care procedures. Awareness of noninvasive diagnostic testing (X-ray, CT Scan, etc.) among patients as a preventive and less invasive screening method has added to the growth in diagnostic imaging practices. Technological advancements for the early diagnosis of disorders and diseases using less invasive techniques will increase the demand for diagnostic imaging.

Furthermore, growing awareness among people concerning disease management as well as early diagnosis is expected to aid the market growth. The availability of possible cures required for disease conditions coupled with developments in diagnostic tests will boost the demand for radiology tests. Moreover, the rising prevalence of infectious diseases has the potential to impose significant morbidity, death, and financial loss. Over the forecast period, efforts to avoid new infectious diseases will drive market growth.

The market is highly regulated and is subject to various state and federal laws, approvals, and regulations concerning the accreditation and licensing of facilities. All providers offering the technical component of diagnostic MRI, PET/CT, CT, and nuclear medicine must be accredited by 26 CMS authorities (currently the American College of Radiology (ACR), the Intersocietal Accreditation Commission (IAC), and the Joint Commission). The American College of Radiology accredits MRI, CT, nuclear medicine, ultrasound, and mammography institutions. 

The initial months of the COVID-19 pandemic caused a significant drop in the non-COVID-19 business of market players as patients avoided routine medical care and most elective and non-emergency procedures were postponed. Industry players were engaged in increasing testing capacity and developing more coronavirus tests. For instance, LabCorp partnered with the CDC to sequence SARS-CoV-2 and better understand how the coronavirus mutates over time.

Moreover, rapid technological advancements to reduce costs and enhance productivity are expected to enhance the market for independent diagnostic testing facilities (IDTFs) during the forecast period. For instance, in August 2019, the Palmetto Imaging subsidiary of MedQuest Associates announced the acquisition of a controlling interest in ImageCare. The acquisition will increase access for patients to affordable imaging and women’s imaging services in South Carolina.

Some of the prominent players in the U.S. independent diagnostic testing facility Market include:

  • RadNet, Inc.
  • Vitalistics
  • Breathe
  • Texas MRI
  • The Brookwood Diagnostic Center
  • ACS Diagnostics, Inc.
  • Houston MRI & Diagnostic Imaging
  • TestSmarter Inc.
  • Duke University and Duke University Health System
  • Covenant Health Diagnostics
  • AliveCor, Inc.
  • Advanced Cardio Services
  • Diagnostic Medical Testing Inc.
  • K & T Diagnostic, Inc.
  • Vestavia Diagnostic Center (VDC)
  • Advanced Imaging Center

Segments Covered in the Report

This report forecasts the volume and revenue growth at the country level and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2032. For this study, Nova one advisor has segmented the U.S. independent diagnostic testing facility market.

By Service 

  • Radiology/Imaging Services
    • X-Ray
    • Computed Tomography (CT)
    • Magnetic Resonance Angiography (MRA)
    • Magnetic Resonance Imaging (MRI)
    • Mammography
    • Ultrasound
    • Positron Emission Tomography (PET) Scan
  • Sleep Studies
  • Cardiac Monitoring Services

Frequently Asked Questions

The U.S. independent diagnostic testing facility market size was estimated at USD 3.5 billion in 2022 and is expected to surpass around USD 5.45 billion by 2032

The U.S. independent diagnostic testing facility market is growing at a compound annual growth rate (CAGR) of 4.5% from 2023 to 2032.

Key factors that are driving the market growth include the growing demand for diagnostic tests, the rising geriatric population, and the increasing burden of chronic diseases.

Some key players operating in the U.S. independent diagnostic testing facility market include RadNet, Inc.; Equimed Corporation; Vitalistics; Breathe; Texas MRI; The Brookwood Diagnostic Center; ACS Diagnostics, Inc.; Houston MRI & Diagnostic Imaging; TestSmarter Inc.; Duke University and Duke University Health System; Covenant Health Diagnostics; AliveCor, Inc.; Advanced Cardio Services; Diagnostic Medical Testing Inc.; K & T Diagnostic, Inc.; Vestavia Diagnostic Center (VDC); Advanced Imaging Center

The radiology/imaging service segment dominated the U.S. independent diagnostic testing facility market with a share of 57.55% in 2022. This is attributable to the availability of services available to reduced cost compared to hospitals.

Chapter 1. Introduction
                   1.1 Market Segmentation & Scope
                       1.1.1 Estimates And Forecast Timeline
                   1.2 Research Methodology
                   1.3 Information Procurement
                       1.3.1 Purchased Database
                       1.3.2 nova one advisor’s Internal Database
                       1.3.3 Secondary Sources
                       1.3.4 Primary Research
                       1.3.5 Details Of Primary Research
                   1.4 Information Or Data Analysis
                       1.4.1 Data Analysis Models
                   1.5 Market Formulation & Validation
                   1.6 Model Details
                   1.7 List Of Secondary Sources
                   1.8 List Of Abbreviations
                   1.9 Objectives
                       1.9.1 Objective 1
                       1.9.2 Objective 2
                       1.9.3 Objective 3
Chapter 2 Executive Summary
                   2.1 Market Snapshot
                   2.2 Competitive Insights
Chapter 3 Market Variables, Trends & Scope
                   3.1 Market Lineage Outlook
                       3.1.1 Parent Market Outlook
                   3.2 Key Country Dynamics
                   3.3 Market Dynamics
                       3.3.1 Market Driver Analysis
                           3.3.1.1 Increasing Demand For Healthcare Services From An Aging Population
                           3.3.1.2 Consumer Awareness Of And Demand For Preventive Diagnostic Testing
                           3.3.1.2 New Effective Applications For Diagnostic Imaging Technology
                       3.3.2 Market Restraint Analysis
                           3.3.2.1 Lack Of Skilled And Certified Professionals To Work In Medical Laboratories
                           3.3.2.2 High Operational Costs
                   3.4 Business Environment Analysis Tools
                       3.4.1 Porter’s Five Forces Analysis
                           3.4.1.1 Threat Of New Entrants
                           3.4.1.2 Bargaining Power Of Buyers
                           3.4.1.3 Competitive Rivalry
                           3.4.1.4 Threat Of Substitutes
                           3.4.1.5 Bargaining Power Of Suppliers
                   3.5 Penetration & Growth Prospect Mapping
                   3.6 Regulatory & Reimbursement Scenario
                   3.7 Impact Of COVID-19: Qualitative Analysis
Chapter 4 U.S. Independent Diagnostic Testing Facility (IDTF) Market: Service Analysis
                   4.1 U.S. Independent Diagnostic Testing Facility (IDTF) Service Market Share Analysis, 2023 & 2032
                   4.2 U.S. Independent Diagnostic Testing Facility (IDTF) Service Market: Segment Dashboard
                   4.3 Market Size & Forecasts And Trend Analysis, 2018 To 2032 For The Service Segment
                       4.3.1 Radiological/Imaging Services
                           4.3.1.1 Radiological / Imaging Services Market, 2018 - 2032
                           4.3.1.2 X-Ray
                               4.3.1.2.1 X-Ray Market, 2018 - 2032
                           4.3.1.3 Computed Tomography (CT)
                               4.3.1.3.1 Computed Tomography (CT) Market, 2018 - 2032
                           4.3.1.4 Magnetic Resonance Angiography (MRA)
                               4.3.1.4.1 Magnetic Resonance Angiography (MRA) Market, 2018 - 2032
                           4.3.1.5 Magnetic Resonance Imaging (MRI)
                               4.3.1.5.1 Magnetic Resonance Imaging (MRI) Market, 2018 - 2032
                           4.3.1.6 Mammography
                               4.3.1.6.1 Mammography Market, 2018 - 2032
                           4.3.1.7 Ultrasound
                               4.3.1.7.1 Ultrasound Market, 2018 - 2032
                           4.3.1.8 Positron Emission Tomography (PET) Scan
                               4.3.1.8.1 Positron Emission Tomography (PET) Scan Market, 2018 - 2032
                       4.3.2 Sleep Studies
                           4.3.2.1 Sleep Studies Market, 2018 - 2032
                       4.3.3 Cardiac Monitoring Services
                           4.3.3.1 Cardiac Monitoring Services Market, 2018 - 2032
Chapter 5 Competitive Landscape
                   5.1 Market Participants Overview
                   5.2 Financial Performance
                   5.3 Company Market Position Analysis/ Company Categorization
                   5.4 Strategy Mapping
                   5.5 Companies Profiled
                       5.5.1 Equimed Corporation
                       5.5.2 Vitalistics
                       5.5.3 Breathe
                       5.5.4 Texas Mri
                       5.5.5 The Brookwood Diagnostic Center
                       5.5.6 Acs Diagnostics, Inc.
                       5.5.7 Houston Mri & Diagnostic Imaging
                       5.5.8 Testsmarter Inc.
                       5.5.9 Duke University And Duke University Health System
                       5.5.10 Covenant Health Diagnostics
                       5.5.11 ALIVECOR, INC.
                       5.5.12 Advanced Cardio Services
                       5.5.13 Diagnostic Medical Testing Inc.
                       5.5.14 K & T Diagnostic, Inc.
                       5.5.15 Vestavia Diagnostic Center (Vdc)
                       5.5.16 Advanced Imaging Center
                       5.5.17 Radnet, Inc.

                   1.1 Market Segmentation & Scope

                       1.1.1 Estimates And Forecast Timeline

                   1.2 Research Methodology

                   1.3 Information Procurement

                       1.3.1 Purchased Database

                       1.3.2 nova one advisor’s Internal Database

                       1.3.3 Secondary Sources

                       1.3.4 Primary Research

                       1.3.5 Details Of Primary Research

                   1.4 Information Or Data Analysis

                       1.4.1 Data Analysis Models

                   1.5 Market Formulation & Validation

                   1.6 Model Details

                   1.7 List Of Secondary Sources

                   1.8 List Of Abbreviations

                   1.9 Objectives

                       1.9.1 Objective 1

                       1.9.2 Objective 2

                       1.9.3 Objective 3

Chapter 2 Executive Summary

                   2.1 Market Snapshot

                   2.2 Competitive Insights

Chapter 3 Market Variables, Trends & Scope

                   3.1 Market Lineage Outlook

                       3.1.1 Parent Market Outlook

                   3.2 Key Country Dynamics

                   3.3 Market Dynamics

                       3.3.1 Market Driver Analysis

                           3.3.1.1 Increasing Demand For Healthcare Services From An Aging Population

                           3.3.1.2 Consumer Awareness Of And Demand For Preventive Diagnostic Testing

                           3.3.1.2 New Effective Applications For Diagnostic Imaging Technology

                       3.3.2 Market Restraint Analysis

                           3.3.2.1 Lack Of Skilled And Certified Professionals To Work In Medical Laboratories

                           3.3.2.2 High Operational Costs

                   3.4 Business Environment Analysis Tools

                       3.4.1 Porter’s Five Forces Analysis

                           3.4.1.1 Threat Of New Entrants

                           3.4.1.2 Bargaining Power Of Buyers

                           3.4.1.3 Competitive Rivalry

                           3.4.1.4 Threat Of Substitutes

                           3.4.1.5 Bargaining Power Of Suppliers

                   3.5 Penetration & Growth Prospect Mapping

                   3.6 Regulatory & Reimbursement Scenario

                   3.7 Impact Of COVID-19: Qualitative Analysis

Chapter 4 U.S. Independent Diagnostic Testing Facility (IDTF) Market: Service Analysis

                   4.1 U.S. Independent Diagnostic Testing Facility (IDTF) Service Market Share Analysis, 2023 & 2032

                   4.2 U.S. Independent Diagnostic Testing Facility (IDTF) Service Market: Segment Dashboard

                   4.3 Market Size & Forecasts And Trend Analysis, 2018 To 2032 For The Service Segment

                       4.3.1 Radiological/Imaging Services

                           4.3.1.1 Radiological / Imaging Services Market, 2018 - 2032 

                           4.3.1.2 X-Ray

                               4.3.1.2.1 X-Ray Market, 2018 - 2032 

                           4.3.1.3 Computed Tomography (CT)

                               4.3.1.3.1 Computed Tomography (CT) Market, 2018 - 2032 

                           4.3.1.4 Magnetic Resonance Angiography (MRA)

                               4.3.1.4.1 Magnetic Resonance Angiography (MRA) Market, 2018 - 2032 

                           4.3.1.5 Magnetic Resonance Imaging (MRI)

                               4.3.1.5.1 Magnetic Resonance Imaging (MRI) Market, 2018 - 2032 

                           4.3.1.6 Mammography

                               4.3.1.6.1 Mammography Market, 2018 - 2032 

                           4.3.1.7 Ultrasound

                               4.3.1.7.1 Ultrasound Market, 2018 - 2032 

                           4.3.1.8 Positron Emission Tomography (PET) Scan

                               4.3.1.8.1 Positron Emission Tomography (PET) Scan Market, 2018 - 2032 

                       4.3.2 Sleep Studies

                           4.3.2.1 Sleep Studies Market, 2018 - 2032 

                       4.3.3 Cardiac Monitoring Services

                           4.3.3.1 Cardiac Monitoring Services Market, 2018 - 2032 

Chapter 5 Competitive Landscape

                   5.1 Market Participants Overview

                   5.2 Financial Performance

                   5.3 Company Market Position Analysis/ Company Categorization

                   5.4 Strategy Mapping

                   5.5 Companies Profiled

                       5.5.1 Equimed Corporation

                       5.5.2 Vitalistics

                       5.5.3 Breathe

                       5.5.4 Texas Mri

                       5.5.5 The Brookwood Diagnostic Center

                       5.5.6 Acs Diagnostics, Inc.

                       5.5.7 Houston Mri & Diagnostic Imaging

                       5.5.8 Testsmarter Inc.

                       5.5.9 Duke University And Duke University Health System

                       5.5.10 Covenant Health Diagnostics

                       5.5.11 ALIVECOR, INC.

                       5.5.12 Advanced Cardio Services

                       5.5.13 Diagnostic Medical Testing Inc.

                       5.5.14 K & T Diagnostic, Inc.

                       5.5.15 Vestavia Diagnostic Center (Vdc)

                       5.5.16 Advanced Imaging Center

                       5.5.17 Radnet, Inc.

 

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