by The U.S. imaging services market comprises diagnostic imaging procedures performed to visualize internal body structures for the purpose of medical diagnosis and treatment monitoring. These services include X-rays, ultrasound, computed tomography (CT), and magnetic resonance imaging (MRI), among others. They provide valuable diagnostic information to physicians for detecting injuries, diseases, and other medical conditions. The demand for imaging services has grown considerably owing to the rising prevalence of chronic and lifestyle diseases such as cancer, cardiovascular diseases, and neurological disorders.
The U.S. Imaging Services Market is estimated to be valued at US$ 178.3 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
The increasing adoption of minimally invasive surgical procedures and image-guided interventions is one of the major trends fueling the growth of the U.S. Imaging Services Market Size. Minimally invasive surgeries with the use of imaging guidance allow for smaller incisions and faster recovery times compared to open surgeries. This has increased their acceptance among physicians as well as patients. Additionally, technological advancements facilitating high-resolution and real-time imaging during procedures have further enhanced the capabilities of minimally invasive surgeries. This is expected to drive the demand for pre-operative and intra-operative imaging services.
SWOT Analysis
Strength: The U.S. Imaging Services Market has a large patient pool due to rising geriatric population and increasing prevalence of chronic diseases. This increases the demand for imaging services.
Weakness: High costs associated with medical imaging equipment and procedures makes it inaccessible for many. Shortage of skilled radiologists also hinders market growth.
Opportunity: Growing adoption of minimally invasive surgery techniques provides opportunities for medical imaging. Rising investments in tele-radiology present new avenues.
Threats: Stringent regulations delay new product approvals. Reimbursement issues and economic slowdowns pose challenges.
Key Takeaways
The U.S. Imaging Services Market is expected to witness high growth. The U.S. Imaging Services Market is estimated to be valued at US$ 178.3 Mn in 2024 and is expected to exhibit a CAGR of 4.9% over the forecast period 2024 to 2031.
Regional analysis: The South region dominates the U.S. Imaging Services Market currently due to large patient volumes and rising healthcare investments. States like Texas and Florida are major revenue generators.
Key players: Key players operating in the U.S. Imaging Services Market are Air Liquide, Air Products & Chemicals Inc., Praxair Inc., Linde Plc., and Messer Group GmbH. These players focus on strategic collaborations and new product launches to strengthen their market position.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
