Diagnostic Imaging Services Global Market Report 2024

The diagnostic imaging services market size has grown strongly in recent years. It will grow from $508.76 billion in 2023 to $538.26 billion in 2024 at a compound annual growth rate (CAGR) of 5.8%. The growth observed in the historical period can be attributed to several factors including an aging population, the development of healthcare infrastructure, the emergence of medical tourism, the prevalence of diseases prompting medical attention, and advancements in research and development within the healthcare industry.

The diagnostic imaging services market size is expected to see strong growth in the next few years. It will grow to $674.09 billion in 2028 at a compound annual growth rate (CAGR) of 5.8%. Anticipated growth in the forecast period is expected due to an increased demand for remote diagnostics, the development of personalized medicine, integration of telemedicine services, a shift towards outcomes-based reimbursement models, and the adoption of eco-friendly practices within the healthcare industry.

The escalation in chronic illnesses globally is anticipated to drive the expansion of the diagnostic imaging services sector. Utilizing modalities such as ultrasound, fluoroscopy, nuclear medicine, radiographs, and CT scans, these services aid in diagnosing various non-communicable diseases. For instance, in February 2022, cancer stood as a primary cause of global mortality, accounting for nearly one in six deaths, nearing 10 million annually. Similarly, in the USA, cardiovascular disease claims a life every 34 seconds. This surge in chronic conditions, including cancer, cardiovascular diseases, stroke, diabetes, and arthritis, is expected to propel the demand for diagnostic imaging services.

The escalation in healthcare spending is projected to bolster the expansion of the diagnostic imaging services market. Healthcare expenditure, encompassing costs within a specific timeframe, notably impacts the diagnostic imaging services' growth trajectory. In March 2023, the United States' healthcare spending reached $4.3 trillion, amounting to $12,914 per person, reflecting a 2.7% increase over 2020. Hospital and clinical services experienced higher growth rates compared to physician spending between 2009 and 2019, averaging at 4.5% and 6.6%, respectively. This uptrend in healthcare spending drives the demand for diagnostic imaging services.

The adoption of artificial intelligence drives transformation. Companies such as Royal Philips and Medo harness AI to innovate MR imaging, optimizing workflows and diagnostic quality. For example, in November 2021, Royal Philips, a US-based company engaged in health technology, launched new AI-enabled innovations in MR imaging. Philips’ new MR portfolio of intelligent integrated solutions is designed to streamline workflows, speed up MR exams, help ensure the sustainability and efficiency of radiology operations and optimize diagnostic quality. Similarly, in December 2021, Medo, a Canada-based company engaged in using artificial intelligence (AI), entered a partnership with Medical Imaging Consultants (MIC), a Canada-based radiology company, to improve diagnostic imaging services.

The players in the diagnostic imaging services market are entering into strategic collaborations to make Innovations in medical Imaging. Collaborations drive tech advances, expand markets, ensure compliance, and enhance patient outcomes in diagnostic imaging. For instance, in September 2023, Mayo Clinic, a US-based Health care company, and GE HealthCare Technologies, Inc., a US-based multinational medical technology company, have formed a strategic collaboration focused on innovating medical imaging and theranostics. The partnership targets advancements in MRI technologies, development of theranostic agents for precise tumor imaging, improvement of ultrasound efficiency through AI, and enhancing the patient experience with data, AI, and digital health tools. The partnership aims to transform the experience of patients and clinicians in the practice of radiology and drive healthcare capabilities through clinical translation and adoption of advanced technologies.


In October 2021, RAYUS Radiology, a US-based diagnostic and interventional radiology service provider, acquired Diagnostic Centers of America (DCA) for undisclosed amount. RAYUS Radiology aims to improve its service offering in a cost-effective manner. Diagnostic Centers of America (DCA) is a US-based company engaged in providing radiology services.

Major companies operating in the diagnostic imaging services market report are Hitachi Ltd., International Business Machines Corporation, Medtronic PLC, Siemens Healthineers AG, Fujifilm Holdings Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Sonic Healthcare Ltd., Catholic Healthcare West, Hologic Inc., Mindray Medical International Limited, Varian Medical Systems Inc., Shimadzu Corporation, Agfa-Gevaert Group NV, Carestream Health Inc., Bracco Imaging S.p.A., RadNet Inc., Neusoft Medical Systems Co. Ltd., Konica Minolta Healthcare Americas Inc., Alliance Healthcare Services Inc., Analogic Corporation, Samsung Medison Co. Ltd., Canon Medical Systems Corporation, Esaote S.p.A., MedQuest Associates Inc., Novarad Corporation, Swissray Global Healthcare Holding Ltd., Aurora Imaging Technology Inc., Planmed Oyj, CurveBeam LLC.

North America was the largest region in the diagnostic imaging services market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the diagnostic imaging services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the diagnostic imaging services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Diagnostic imaging services encompass various modalities, including X-ray imaging, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging, and mammography. X-ray diagnostic imaging specifically focuses on utilizing electromagnetic waves to create internal images of the body. It's among the oldest and most prevalent medical imaging techniques. These diagnostic modalities find applications across multiple medical specialties such as cardiology, gynecology/obstetrics, orthopedics & musculoskeletal, oncology, neurology, spine, and general imaging. Diagnostic imaging services are commonly accessed in hospitals, diagnostic imaging centers, ambulatory imaging centers, and various other medical facilities aimed at providing comprehensive imaging and diagnosis to patients.

The diagnostic imaging services market research report is one of a series of new reports that provides diagnostic imaging services market statistics, including diagnostic imaging services industry global market size, regional shares, competitors with an diagnostic imaging services market share, detailed diagnostic imaging services market segments, market trends and opportunities, and any further data you may need to thrive in the diagnostic imaging services industry. This diagnostic imaging services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The diagnostic imaging services market includes revenues earned by entities by diagnostic radiology, fluoroscopy and PET scans. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.


The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.