The U.S. Imaging Services Market is Estimated to Witness High Growth Owing to Increasing Demand for Early Disease Detection

 
U.S. Imaging Services Market

Imaging services involve the use of medical imaging technology like X-rays, CT scans, MRI, ultrasound and nuclear medicine to generate visual representations of the internal body for clinical analysis and medical intervention. These services are widely used in hospitals and imaging centers for diagnostic purposes to detect diseases early as well as to guide interventional procedures. The global U.S. Imaging Services Market is estimated to be valued at US$ 154.77 Bn in 2023 and is expected to exhibit a CAGR of 3.2% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market Dynamics:

One of the key drivers for the high growth of the U.S. imaging services market is the increasing demand for early disease detection. Medical imaging allows clinicians to detect diseases, disorders and abnormalities inside the body before physical symptoms appear. This helps in the diagnosis of conditions at earlier, potentially more treatable stages. Early detection and diagnosis of diseases like cancer, cardiovascular diseases, neurological conditions and musculoskeletal disorders enables timely intervention and improved health outcomes. According to a report by the National Cancer Institute, the five-year survival rate for cancers detected at early, localized stages is around 90%. Therefore, the ability of imaging services to identify diseases pre-symptomatically is fueling their increased adoption across the country.

Additionally, the growing geriatric population also contributes to the growth of this market. Older adults are more prone to various chronic diseases that require regular medical imaging for diagnosis and monitoring. As per the United States Census Bureau, there were approximately 56 million people aged 65 years and older in the U.S. in 2019, comprising 16.5% of the total population. The elderly population is projected to reach 94 million by 2060. The rising aging demographics will propel the demand for preventive healthcare services including imaging, thereby driving the market growth over the forecast period.

SWOT Analysis

Strength: The U.S. Imaging Services Market has strong expertise in their service offering with highly skilled radiographers and technicians. They leverage advanced imaging technologies like X-rays, CT scans, MRI, mammography and others which help provide accurate diagnostic information. Their national presence allows seamless service delivery to clients across different locations.

Weakness: Pricing pressure from other emerging players may pose challenges. Staff retention due to poaching by competitors can be an issue. Dependence on reimbursement policies of insurance companies impacts revenue streams.

Opportunity: Rising elderly population drives increased demand for diagnostic imaging services. Growth in prevalence of chronic diseases like cancer will boost market growth. Adoption of artificial intelligence and analytics provides opportunities to enhance diagnostics.

Threats: Stringent regulations surrounding licensing, certifications and safety can increase compliance costs. Economic slowdowns may negatively impact discretionary healthcare spending. Substitution threat from point-of-care ultrasound systems.

Key Takeaways

The global U.S. Imaging Services Market is expected to witness high growth. The market size for 2023 is US$ 154.77 Bn and is forecast to reach US$ 184.32 Bn by 2030 at a CAGR of 3.2% during the forecast period from 2023 to 2030.

The Western region dominates the market currently with highest number of diagnostic centers. It is also the fastest growing region projected to account for around 45% market share by 2030 owing to increased incidence of diseases and growing focus on early detection.

Key players operating in the U.S. Imaging Services Market are SGS Group, Bureau Veritas SA, TUV Rheinland Group, Intertek Group PLC, ALS Limited, DNV GL, MISTRAS, Lloyd€TMs Register Group Limited, Underwriters Laboratories Inc., ABS Group, and ASTM International. They are focusing on strategic partnerships and service expansions to enhance market presence.

Explorer more information on this topic, Please visit @ https://www.pressreleasebulletin.com/u-s-imaging-services-market-size-and-share/

Comments

Post a Comment

Popular posts from this blog

The Notchback Market is Estimated To Witness High Growth Owing To Rising Demand From Emerging Economies

Image
  Notchback Market Market Overview: A notchback is a body style of cars characterized by a gently sloped rear window and greenhouse. Notchbacks provide practical interior space with good cargo capacity. They offer balanced interior volume for passengers and cargo along with sleek and stylish exterior design. The body style has advantages like no C-pillar which enhances visibility compared to sedans. Market key trends: The growth of the notchback market is attributed to rising demand from emerging economies like China, India and Brazil. These nations have growing middle-class population and increasing disposable income which is driving vehicle ownership. Moreover, notchback body style is quite popular in these developing markets due to its spacious cabin combined with stylish looks at affordable prices. Leading automakers are launching various notchback models to cater to the surging demand from developing countries, which is fueling the growth of the notchback market size during ...
Read more

The increasing demand for adhesives and sealants is anticipated to open up the new avenue for Petroleum Resins Market

Image
Petroleum Resins Market  Market Overview: Petroleum resins are amorphous thermoplastic polymers made from petroleum-based feedstock materials, through either thermal or catalytic polymerization. They are mainly used for applications such as adhesives, inks, paints, rubber compounding, and others. Different types of petroleum resins include C5 resins, C9 resins, hydrogenated hydrocarbons (HHCs), and modified and specialized petroleum resins. Among applications, adhesives and sealants hold the largest share in the petroleum resins market owing to increasing use of petroleum resins in hot melt and pressure sensitive adhesives. Market Dynamics: The increasing demand for adhesives from packaging and construction industries is a major driver for the petroleum resins market. According to statsista, the global adhesive market was valued at over US$ 53.3 billion in 2020 and is projected to reach around US$ 78 billion by 2027, growing at a CAGR of over 5.7% during the forecast period. Pe...
Read more

Global Synthetic Biology Market Analysis: Size and Share

Image
Synthetic Biology Market  Synthetic biology encompasses the design, construction, and redesigning of biological parts, devices, and systems, either non-existent in nature or reengineered from existing biological systems. The market is experiencing significant growth, driven by the increasing demand for personalized medicine and healthcare. Applications of synthetic biology span pharmaceuticals, chemical production, agriculture, environmental protection, and renewable energy. Advancements in synthetic biology contribute to the rapid manufacturing of biotherapeutics, fostering the development of personalized medicine and more cost-effective healthcare solutions. The Synthetic Biology Market is projected to be valued at US$ 31,693.59 million in 2023, with an expected CAGR of 28% during the forecast period from 2023 to 2030, according to a newly published report by Coherent Market Insights. Key Market Trends: A prominent trend in the Global Synthetic Biology Market is the escalat...
Read more