The importance of imaging in diagnosing health conditions cannot be underestimated. Diagnostic imaging has paved way for effective treatment of various chronic and infectious diseases. The demand for diagnostic imaging has burgeoned in recent years, owing to a rising pool of geriatric patients.
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The outbreak of (COVID-19) pandemic has further broadened prospects for the diagnostic imaging services market. As more and more people are getting affected on a daily basis, hospitals, clinics and other healthcare providers have found a massive surge in the number of patients worldwide. Proper imaging techniques to detect confirmed and suspected cases thus become very important. On the back of these trends, the global diagnostic imaging services market is anticipated to expand positively at a CAGR of 4.2% during the forecast period (2020-2025).
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Global Diagnostic Imaging Services Market Segmentation
Fact.MR has studied the global diagnostic imaging services market with detailed segmentation on the basis of service type, service provider and regions.
|
Service Type |
Service Provider |
Regions |
|
Diagnostic Radiology |
Hospitals |
North America |
|
Ultrasound |
Diagnostic Imaging Centers |
Europe |
|
Computed Tomography |
Ambulatory Surgical Centers |
Asia Pacific (APAC) |
|
Magnetic Resonance Imaging |
Others |
Latin America |
|
Nuclear Imaging |
|
Middle East & Africa (MEA) |
|
Others |
|
|
“The global diagnostic imaging services market is poised to expand positively in the future. Rising geriatric population, combined with the existing COVID-19 pandemic, is projected to spur intensive research and development for timely detection, diagnosis and treatment of life-threatening diseases,” concludes a Fact.MR analyst.
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Mergers, Acquisitions and Innovations to be Major Growth Engines
The global diagnostic imaging services market is consolidated. The key market players include RadNet, Inc., Alliance Healthcare Services, Inc., I-MED Radiology Network (Permira) and Sonic Healthcare. These players have consolidated their position by virtue of mergers, acquisitions and joint ventures. Over and above this, they also concentrate on developing new solutions to offer to their clients.
RadNet, Inc., is the leading player in the global diagnostic imaging services market. The company specializes in CT, MRI, Digital X-ray, Ultrasound and PET/CT services, Nuclear Medicine and Digital Mammography. The company also acquired certain assets of Resolution Medical Imaging Corporation, which included two multi-modality imaging centers in 2017. It also signed an agreement with Cedars-Sinai to operate two joint ventures in imaging that same year.
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The second player, Alliance Healthcare Services, Inc., offers Bone Density Screening and Ultrasound services over and above the services such as CT and MRI scans. The company utilizes the On Point medical imaging technology which provides quality assurance systems for MRI and CT scanners. The company also plans to penetrate overseas markets through mergers and agreements with local investors and private firms. For example, in 2017, Alliance Healthcare entered into an agreement with Tahoe Investment Group Co., Ltd., for expanding into American and Chinese markets.
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