Impact of Outbreak of COVID-19 on Diagnostic Imaging Services Market
                     Transparency Market Research (TMR) has published a new report on the diagnostic imaging
services  market  for the  forecast  period  of  2019–2027. According  to  the  report,  the  global
diagnostic imaging services market was valued at ~ US$ 329 Bn in 2018, and is projected to
expand at a CAGR of ~ 4% from 2019 to 2027. Significant awareness among people about the
early diagnosis of chronic diseases, rise in the demand for diagnostic imaging services among
the geriatric population, and availability of reimbursements for diagnostic imaging services in
major markets contribute to the growth of the global diagnostic imaging services market. 
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Technological Advancements Leading to Expansion of Diagnostic Imaging Services 
 Changing  attitude  toward  the  early  detection  of  underlying  diseases,  which  can  be
identified through diagnostic imaging, contributes to the growth of the diagnostic imaging
services market. The global diagnostic imaging services market is expected to expand at a
CAGR of ~ 4% from 2019 to 2027.
 A number  of  trends have been observed in  the diagnostic  imaging services  market.
Increase in the geriatric population, rise in the prevalence of chronic diseases, favorable
reimbursements for diagnostic imaging services, and introduction of remote and integrated
diagnostic imaging systems & services contribute to the growth of the global  diagnostic
imaging services market.
 Significant  acquisitions  and  strategic  collaborations  &  partnerships,  focus  of  market
players  on  offering  value-added  service  assistance,  which  includes  mobile  value-added
services, are boosting the growth of the global diagnostic imaging services market.
 However,  shortage  of  radiologists  for  performing diagnostic  imaging procedures  and
continued usage of obsolete systems in many regions are likely to hamper the growth of
the global diagnostic imaging services market. 
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Asia Pacific Market to Expand at a Rapid Pace
 North America held a major share of the global diagnostic imaging services market in
terms of revenue in 2018, and is projected to sustain its market share during the forecast
period. The rapid adoption of modern imaging technologies and the presence of a large
number of diagnostic imaging service providers are anticipated to boost the growth of the
diagnostic imaging services market in the near future. High disposable income and well-
developed  healthcare  infrastructure  also  contributed  to  North  America’s  large  market
share.
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 Europe is projected to be the second-largest diagnostic imaging services market in terms
of share and revenue during the forecast period. Increasing incidences of cardiovascular
diseases in countries in Europe and rise in the number of CT and MRI diagnostic imaging
procedures performed in the region are boosting the growth of  the diagnostic imaging
services market in the region.
 The diagnostic imaging services market in Asia Pacific is anticipated to expand at a high
CAGR of ~ 5% during the forecast period. Strong growth of the diagnostic imaging services
market in the region is  attributed to the significant patient pool  and rapid adoption of
technological advancements in Japan and China. According to OECD data, Japan has the
highest density of CT scanners and MRI machines per million population.
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Siemens Healthineers, General Electric, and Philips are Leading Manufacturers of Diagnostic
Imaging Equipment
The  report  provides  profiles  of  leading  players  operating  in  the  global  diagnostic  imaging
services  market.  These  include  Radnet,  Inc.,  Center  for  Diagnostic  Imaging,  MedQuest
Associates, Inc., Siemens Healthineers, Hitachi, Ltd., Carestream Health, Koninklijke Philips N.V.,
GE Healthcare, Shimadzu Corporation, and Dignity Health (CommonSpirit Health).
 Radnet, Inc. is one of the leading diagnostic imaging services provider in the U.S. It offers
a comprehensive set of imaging services including MRI, CT, PET, nuclear medicine, X-ray,
ultrasound, mammography, fluoroscopy, and other related procedures. It performs over 7
million outpatient diagnostic imaging procedures each year. 
 Siemens Healthineers is one of the leading diagnostic imaging equipment manufacturers
engaged  in  the  development,  manufacture,  and  marketing  of  imaging,  diagnostic,  and
advanced therapy products and services to health care providers.  The imaging segment
offers products and services in computed tomography, magnetic resonance, ultrasound, X-
ray systems, and molecular imaging. 
 Inorganic growth and partnerships are the key strategies employed by leading players to
enhance market presence. This is anticipated to fuel the growth of the global diagnostic
imaging services market. 
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