Medical Imaging Outsourcing Market size was valued at USD 8.5 billion in 2023 and is anticipated to reach USD 14.1 billion by the end of 2036, registering around 4.3% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of medical imaging outsourcing is evaluated at USD 8.8 billion.
The market expansion is primarily attributed to the increasing demand for high-quality diagnostic imaging services combined with the need for cost efficiency. A 2023, study published by the National Institutes of Health (NIH) stated that about 40 million magnetic resonance imaging (MRI) scans are performed every year in the United States. Healthcare providers are increasingly outsourcing imaging services to specialized vendors to manage costs and streamline operations while ensuring high-quality diagnostic services. Additionally, advancements in technology, such as artificial intelligence (AI) and machine learning, are enhancing the capabilities of outsourced imaging services, further boosting their adoption.
Growth Drivers
Challenges
Base Year |
2023 |
Forecast Year |
2024-2036 |
CAGR |
4.3% |
Base Year Market Size (2023) |
USD 8.5 billion |
Forecast Year Market Size (2036) |
USD 14.1 billion |
Regional Scope |
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Device (Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET))
The computed tomography segment is poised to account for medical imaging outsourcing market share of more than 57.2% by the end of 2036. The demand for CT scans has been steadily increasing due to their effectiveness in diagnosing and managing a wide range of conditions. According to 2021 estimates, globally, an estimated 368 million computed tomography (CT) procedures are performed each year, with a 3%-4% annual increase. Outsourcing allows healthcare providers to access advanced CT technology without high costs of purchasing and maintaining these devices. The rapid evolution of CT technology, including improvements in scan resolution and speed, encourages healthcare facilities to outsource to providers who can continually upgrade and implement the latest advancements.
End use (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers)
The hospital segment is expected to be the fastest-growing segment with a lucrative size by the end of the forecast period. Hospitals handle a large volume of imaging studies, and outsourcing helps manage this high demand efficiently without the need for significant investments in infrastructure and technology. Additionally, hospitals require a range of specialized imaging services which can be provided by outsourced experts with the latest technology and expertise.
Our in-depth analysis of the global market includes the following segments:
Device |
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End use |
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North America Market Statistics
North American medical imaging outsourcing market is slated to hold the largest share of 46.9% during the forecast period. The growth is attributed to the rising adoption of medical imaging in the healthcare sector and the rising number of hospitals and other healthcare centers. Moreover, the presence of key players through their extensive networks, advanced technologies, and strategic outsourcing services enhances the accessibility and quality of medical imaging across the region.
In the U.S. Carestream Health offers a variety of imaging solutions, including digital radiography and healthcare IT solutions, promoting the adoption of advanced imaging technologies.
The healthcare system in Canada continually invests in modernizing diagnostic equipment and expanding imaging capabilities. Provincial authorities often fund upgrades and new installations of imaging technology.
APAC Market Analysis
The medical imaging outsourcing market in Asia Pacific will encounter huge growth during the forecast period. The rapid population growth along with urbanization and awareness of early diagnosis and chronic and critical diseases has fueled the market growth in this region.
Increasing prevalence of chronic diseases in China is expected to significantly drive the market. Chronic diseases such as cardiovascular conditions, diabetes, and cancer require regular monitoring and imaging for effective management. For instance, according to NIH, in 2022 there were around 4.8 million new cancer cases in the country.
Japan has shown a lucrative increase in healthcare advancements and improvements in various medical treatments and fields such as healthcare delivery systems, telemedicine, and more. For instance, the International Trade Administration 2022 projected that the Japanese telemedicine industry will grow at USD 404.5 million by 2025.
The medical imaging outsourcing market key players provide advanced technologies, extensive service networks, and specialized expertise, helping healthcare providers manage increasing imaging demands and improve service delivery.
Some of the key players include:
Author Credits: Radhika Pawar
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