U.S. Diagnostic Imaging Market

U.S. Diagnostic Imaging Market Size (2024 to 2029)

The diagnostic imaging market in the United States is estimated to hike at a CAGR of 7.1% from 2024 to 2029.

A Diagnostic test is performed to aid or detect underlying diseases. Every year more than 13 Billion tests are performed in the United States. Diagnostic tests help doctors to confirm and rule out conditions or diseases in the body. 

Diagnostic imaging techniques such as MRA, MRI and CT scans, Ultrasound, Mammography, X-rays, fluoroscopy, and others are non-invasive methods used to diagnose a disease by viewing the inner part of the body. According to a survey by the Centers for Disease Control and Prevention, In the United States, six in every ten adults are diagnosed with a chronic disease, and it is found to be the primary cause of death in the United States. Furthermore, according to a survey, almost half of the American population is diagnosed with a chronic disease, and it is expected to reach 170 million by 2030; therefore, the hike in chronic diseases among the United States population will drive the growth of the diagnostic imaging market.

As far as the United States population report of the U.S. Census Bureau is concerned, the senior population of the United States is 56 million. Moreover, the Centers for Disease Control and Prevention claims that the geriatric population will reach 80.8 million by 2040 and that 85% of the senior population have chronic diseases; therefore, the increase in the aging population will increase the risk of chronic diseases, which in turn elevates the growth rate of diagnostic imaging market.

Chronic diseases such as diabetes, cancer, arthritis, cardiovascular diseases, stroke, etc., should be treated by physicians; however, According to the Time's analysis of data collected by the Association of American Medical Colleges, there will be a scarcity of 54,100 to 1,39,000 physicians in the United States by 2020. Moreover, as far as Time's reflection on the report of the Kaiser Family Foundation, it is found that 83.7 million Americans live in an HPSA (Health Professional Shortage Area); therefore, the lack of health access and physicians in the United States will hinder the growth of the diagnostic imaging market.

Country-level Analysis: 

According to the data collected by Forbes Advisor from the Centers for Disease Control and Prevention and Kaiser Family Foundation, the state of West Virginia in the United States of America is found to have a deficient healthy population. Moreover, chronic diseases such as cancer, heart disease, and respiratory diseases are more common in West Virginia, and the state has been found to have seen an increase in respiratory illness in 2022. Hence, the acceleration in sickness among the population will increase the demand for medical care, which in turn drives the diagnostic imaging market in the state.

As far as the 2020 population survey conducted by the Census Bureau is concerned, the senior population in the United States is above 55 million. California, Florida, and Texas had many geriatric populations in 2020, such as 39,368, 21, 733, and 29,361, respectively. According to the data collected by the NCBI, above 80% of the older people in the United States have at least one chronic disease; therefore, the increase in the aging population will increase the chances of having chronic diseases. Thus, the diagnostic imaging market will grow during the forecast period in the states with a more senior population.

According to the data collected by IBISWorld in 2023, the United States has 9,841 diagnostic imaging centers. These diagnostic centers have several drivers that accelerate their market growth; one of those factors is the high disposable personal income of the people in the United States. Moreover, According to the data collected by Statista, there is an increased rate of 0.3% in the disposable personal income in the U.S. Columbia holds the highest rate of disposable personal income. Therefore, it might hold a significant share of the diagnostic imaging market.

KEY MARKET PLAYERS:

Companies such as Siemens Healthcare, Toshiba Medical Systems Corporation, Hitachi Medical Corporation, Hologic Inc., Fujifilm Corporation, Shimadzu Corporation, and GE Healthcare are playing a leading role in the United States diagnostic imaging market.