Medical Imaging Outsourcing Market - Forecast(2024 - 2030)

Medical Imaging Outsourcing Market size is projected to reach $10,290 million by 2026, growing at a CAGR of 5.1% over 2021-2026. Medical Imaging is a process that is used to diagnose, monitor, or treat medical conditions with the help of variety of technologies. Various techniques such as image processing and machine learning methods are applied to increase the performance of medical imaging. Medical imaging is common in clinics for screening and diagnosis of a variety of chronic diseases. Medical imaging refers to radiology that is widely used in computed tomography scanners which are classified into parallel fan-beam and cone-beam devices. The magnetic resonance imaging technique in medical imaging helps to provide a detailed images of organs and tissues in the body. In medical imaging procedure, positron emission tomography is widely used to detect cancers as well as organs that are not working normally. The influence of medical imaging in healthcare is growing constantly as it help to detect diseases early and provides more effective treatment. The efficiency of healthcare processes such as diagnosis, prognosis, and screening are enhancing with the help of medical imaging technology. Rising prevalence of chronic disease among patients and growing advancement in technology in the field of healthcare sector is the major factor driving the growth of Medical Imaging Market. Furthermore, rising research and development activities in medical field and growing adoption of medical imaging in healthcare sector and is set to further enhance the overall market demand for Medical Imaging Outsourcing Market for the period 2021-2026. 

The report: “Medical Imaging Outsourcing Market Forecast (2021-2026)”, by Industry ARC, covers an in-depth analysis of the following segments of the Medical Imaging Outsourcing Market.

By Device: Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET) and Others.

By End-User: Hospitals, Diagnostic Centers, and Others.

By Geography: North America (U.S., Canada, Mexico), Europe (U.K, Germany, Italy, France, Spain, Russia, Rest of Europe), Asia Pacific (China, Australia, Japan, South Korea, India, Rest of Asia Pacific), South America (Brazil, Argentina, Others) and Rest of the World (Middle East, Africa).

The Medical Imaging Outsourcing Market based on Devices can be further distributed into Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET) and Others. The Computed Tomography (CT) segment is the major segment generating revenue in 2020. This is mainly owing to its high quality image that helps to diagnose the disease properly which rising the adoption of CT scan in healthcare sector. Moreover, CT is cost effective technique that rising the usage of CT scan more for monitoring the diseases. The Magnetic Resonance Imaging segment is estimated to register the fastest CAGR of 5.5% for the period 2021-2026. MRI imaging provides better results for diagnosing cancer diseases that rising the adoption of MRI technique in medical sector. Moreover, MRI imaging widely used in hospitals owing to its effective power of providing clear image which in turn further propelling the growth of Medical Imaging Outsourcing Market.

The Medical Imaging Outsourcing Market based on End-User can be further segmented into Hospitals, Diagnostic Centers, and Others. The Hospitals segment registers for the highest Medical Imaging Outsourcing Market share in 2020. This is mainly owing to the fact that large number of patients are admitted in hospitals for proper treatment that needs more advanced technology for treatment. So, healthcare centers are adopting medical imaging technology in hospitals in order to improve the performance of imaging. Moreover, rising number of skilled professional in hospitals increases the preference among patients which in turn growing the adoption of medical imaging in hospitals. The Diagnostic Centers segment is projected to register the fastest CAGR of 6.1% over 2021-2026. This is mainly owing to the fact that diagnostic centers provides proper medical imaging as the availability of technology is more that growing the preference of diagnostic centers for diagnosis of diseases among patients which in turn propelling the growth of Medical Imaging Outsourcing Market.

However, Asia Pacific is projected to be the growing market during the forecast period 2021-2026 owing to growing awareness regarding chronic disease and increasing adoption of medical in healthcare centers. In China and India, the number of healthcare infrastructure rising the needs advanced technology for treatment which in turn growing the adoption of Medical Imaging in Asian Countries.

Growing prevalence of chronic disease among patients rising the needs of early diagnosis for the treatment of diseases is increasing the growth of Medical Imaging Market. According to National Health Council, about 157 million people are suffering from chronic disease that is increasing the adoption of medical imaging and therefore rising the growth of the Medical Imaging Outsourcing Market over the period 2021-2026.

Growing technology advancement in the field of medical imaging increases the adoption in healthcare centers. Moreover, rising development of 4D medical imaging helps to provide faster and accurate results and are very suitable for radiation oncology which in turn boosting the growth of Medical Imaging Outsourcing Market over the period 2021-2026.

 COVID-19 pandemic had greatly impacted the growth of Medical Imaging Market. During pandemic, there is a need of using CT scans to identify the coronavirus infection that rising the adoption of medical imaging in various healthcare centers specially in hospitals which are positively impacted the growth of Medical Imaging Outsourcing Market.

The factors that is set to impede the growth of the Medical Imaging and Outsourcing Market are rising allergic reaction among patients owing to the radiation of medical imaging which is set to restrain the growth of Medical Imaging Outsourcing Market.

Product launches, acquisitions, collaboration, joint ventures, and geographical expansions are key strategies adopted by players in the Medical Imaging Outsourcing Market. Medical Imaging Outsourcing top 10 companies are Tencent, Alliance Medical, Flatworld Solutions Pvt. Ltd., MetaMed, North America Science Associate Inc., RadNet Inc., Shields MRI, Proscan imaging, Diagnostic Imaging Services, and Ankarad Medical Imaging Devices.