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This analysis examines the $26 billion technology-driven and fragmented diagnostic imaging centers sector. The business is highly competitive, with 6,900 facilities and with the largest competitors capturing just 20% of the market. There is only one public publicly-owned company that operates a chain of imaging centers, RadNet.
The number of MRI and CT scans performed annually in the United States continues to grow, due to their wider acceptance by physicians and payors, an increasing number of applications for their use and a general increase in demand due to the aging population.
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 of the population, which leads to an increase in the demand for imaging services, since the elderly population is more prone to chronic diseases. However, staff shortages and Medicare reimbursement cuts present some headwinds to growth.
This new study examines the nature and structure of the industry, types of imaging equipment used, national receipts/growth from 2002 to 2028 forecast, healthcare demand factors, key industry trends (AI’s effects, consolidation, staffing shortages), 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, Rayus Radiology, MedQuest Imaging, SimonMed/Dignity Health, Touchstone Imaging and Outpatient Imaging Affiliates.
FREE with purchase: A "done-for-you" PowerPoint presentation covering the market's characteristics, structure, $ size, growth drivers, forecasts, and key operating metrics.
Table of Contents
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. - outpatient, mobile, hospital-based centers
- 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, 2017, 2022 - Freestanding outpatient facilities, those based in hospitals, mobile imaging.
- 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, impact of AI, staffing shortages, reimbursement
- 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.
Tables:
- Diagnostic Imaging Centers Industry Snapshot: 2022, 2017,, 2012, 2007, 2002 (metrics: no. of centers, receipts, payroll, employees, sales per center)
- Industries with highest levels of employment in Radiolog Technicians
- Top paying industries for Radiologic Technologists and Technicians
- Top paying states for Radiologic Technologists and Technicians
Industry Size, Growth, Forecasts
- Size / Annual Receipts of the diagnostic imaging centers industry from 2002-2028 Forecast, 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: 2024: (X-ray, MRI, CT scan, ultrasound, nuclear medicine, endoscopy, EEG, MEG)
- Discussion & analysis of historical growth trends, during last recession, recovery since then, current situation, rationale for forecasts.
- Analysis of receipts by imaging modality, by care setting
2023 & 2024 industry performance, growth estimates
2025 & 2028 Marketdata 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.
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., Historical and current volumes
Tables:
- Revenues of the U.S. diagnostic imaging centers industry: 2005-2028 Fore.
- Annual growth rate of the industry: 2006-2028 F
- Revenues and growth of the leader, RadNet, for 2008-2024
- Revenues by the Leaders: Estimated 2024 Market Share
- Industry Mix - Share of Revenues by Type Diagnostic Imaging Service Rendered: 2024
Industry Economic Operating Ratios
Summary of key industry metrics, NAICS code for the industry, what it includes
- Industry snapshot: 2002, 2007, 2012, 2017, 2022: key ratios (payroll, no. estabs., receipts, avg. receipts per estab., receipts & payroll per employee)
- Annual % change in receipts: 2007-2022
Industry ratios (no. of firms, establishments, receipts, payroll as % receipts for 2022 vs. 2017) by:
- Labor productivity ratios: receipts per employee vs. payroll per employee
- Legal form of organization -corporations, sole proprietorships, partnerships
- 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 $100,000 to $100 mill.)
- Receipts size of firms (under $100,000 to $100+ mill.)
No. of establishments, receipts & avg. receipts per establishment, by state: 2023
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 12 firms market share, estimated/actual 2023 receipts of top chains
- RadNet
- RAYUS Radiology
- MedQuest Imaging
- SimonMed/Dignity Health
- Touchstone Medical Imaging
- Outpatient Imaging Affiliates (OIA)
Table:
- Revenues by the Leaders: Estimated 2023 Market Share
Reference Directory
- List of diagnostic imaging/radiology national/regional trade associations, journals, consulting firms, reports, articles, other key contacts - address & phones, description of activities.
Companies Mentioned
- RadNet
- RAYUS Radiology
- MedQuest Imaging
- SimonMed/Dignity Health
- Touchstone Medical Imaging
- Outpatient Imaging Affiliates (OIA)
