USD 8.48 Billion
Medical Imaging Outsourcing Market Size, Share, Growth Analysis, By Service(Radiology Reporting, Teleradiology, Medical Image Analysis, and Image-Archiving and Communication Systems (PACS) and Others), By End-User(Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers), By Modality(X-ray, MRI, CT, Ultrasound), By Region - Industry Forecast 2025-2032
Report ID:
SQMIG35B2148 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|Tables:
93
|Figures:
79
Medical Imaging Outsourcing Market Insights
Medical Imaging Outsourcing Market size was valued at USD 8.82 Billion in 2023 and is poised to grow from USD 9.17 Billion in 2024 to USD 12.54 Billion by 2032, growing at a CAGR of 4% during the forecast period (2025-2032).
In recent years, the global market has been experiencing significant growth. The market strives to improve patient care and manage costs more effectively, so outsourcing medical imaging services has become an attractive option. The growing prevalence of chronic diseases, such as cancer and cardiovascular diseases, has led to a surge in the number of diagnostic imaging procedures.
Additionally, the aging population worldwide contributes to the rising demand for medical imaging services, as older individuals often require more frequent diagnostic tests. It allows healthcare providers to access advanced technology and specialized expertise without the need for significant capital investments.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Diagnostic Centers
Growth Rate
4% CAGR
Global Medical Imaging Outsourcing Market ($ Bn)
Country Share for North America Region (%)
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Medical Imaging Outsourcing Market Segmental Analysis
The global medical imaging outsourcing market is segmented into four major segments i.e. by service, end user, modality and region. Based on service type, it is divided into radiology reporting, teleradiology, medical image analysis, and image-archiving and communication systems (pacs), and other innovative formats. Based on end use, it is bifurcated as hospitals, diagnostic centers, and ambulatory surgical centers. Based on modality it is segregated into, X-ray, MRI, CT, ultrasound, and nuclear medicine. Based on region, the market is segmented into United States, Canada, and Mexico.
Analysis by Service
Radiology reporting and teleradiology services have typically held a substantial market share due to their pivotal function in the diagnostic process and healthcare delivery. Moreover, their provide expert interpretation of medical images, offering crucial diagnostic insights that guide patient care decisions
Due to their involvement in advanced technologies, medical image analysis has gained popularity. The artificial intelligence and machine learning, which are increasingly integrated into the healthcare sector. These technologies enhance the accuracy and efficiency of image interpretation, enabling quicker and more precise diagnoses.
Analysis by Distribution Channel
Hospitals have long dominated the global market primarily attributed to the central role that hospitals play in healthcare delivery and their extensive reliance on medical imaging services. They are at the forefront of patient care and diagnosis, requiring a consistent and efficient flow of medical imaging data for a wide range of medical conditions.
The diagnostic centers fastest-growing segment as they are specialized facilities that focus primarily on diagnostic testing and imaging services, making them increasingly important in the evolving healthcare landscape. These centers often offer a wide range of imaging services, including X-rays, CT scans, MRI, and ultrasound, to cater to various medical needs. As the population's healthcare awareness increases and individuals seek convenient and timely access to diagnostic services, diagnostic centers are poised for significant growth.
Global Medical Imaging Outsourcing Market By End-User
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Medical Imaging Outsourcing Market Regional Insights
North America has historically dominated the medical imaging outsourcing market due to its robust network of healthcare providers. The region has a well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced medical technologies. Additionally, the region benefits from strong research and development activities in the field of medical imaging, leading to a continuous influx of innovative technologies and solutions.
The Asia-Pacific region is experiencing significant advancements in healthcare infrastructure. The rising prevalence of chronic diseases, urbanization, and an aging population. These demographic shifts lead to a greater demand for diagnostic imaging services, creating opportunities for medical imaging outsourcing providers.
Global Medical Imaging Outsourcing Market By Region
- Largest
- Fastest
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Medical Imaging Outsourcing Market Dynamics
Drivers
Increasing Prevalence of Chronic Diseases
- The rising prevalence of chronic diseases, an aging population, and the need for early disease detection. Healthcare providers are under pressure to efficiently manage patient care and costs, making outsourcing an attractive option to access advanced technology and specialized expertise without significant capital investment.
Restraints
Stringent Regulatory and compliance issues
- Regulatory and compliance issues present significant challenges, particularly regarding data privacy and security, as medical images contain sensitive patient information. Meeting these stringent regulatory requirements can be complex and costly for outsourcing providers. Data breaches and privacy concerns pose a risk to patient confidentiality, which is a critical aspect of healthcare.
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Medical Imaging Outsourcing Market Competitive Landscape
The competitive environment of the medical imaging outsourcing market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. The market also witnesses the entry of newer and specialized companies, especially in the domain of medical image analysis and artificial intelligence (AI)-driven solutions. These entrants bring innovative technologies and tailored services that cater to the evolving demands of the healthcare sector, further intensifying competition.
Top Player’s Company Profiles
- Diagnostic Imaging Services
- NORTH AMERICAN SCIENCE ASSOCIATES INC.
- Ankarad Medical Imaging Systems
- Shields MRI
- KAYI Healthcare
- RadNet, Inc.
- PROSCAN IMAGING
- Alliance Health Partners
- Imbio
- Nuance Communications
- Philips Healthcare
- Siemens Healthineers
- GE Healthcare
- Fujifilm Healthcare
- Agfa Healthcare
- Toshiba Medical Systems
- Hitachi Healthcare
- Canon Medical Systems
- Samsung Medison
- Mindray Medical
Recent Developments
- In July 2023, Arterex, a contract manufacturer specializing in medical devices, completed the acquisition of NextPhase Medical Devices from Kidd & Company. This strategic acquisition is set to facilitate Arterex's diversification and expansion within the medical device market, allowing the company to enhance its product portfolio.
- In May 2023, Probo Medical, a prominent global supplier of medical imaging equipment, components, maintenance, and support services, revealed its acquisition of National Ultrasound, Inc. (National). The specific financial details of the deal have not been disclosed.
- In January 2023, Bayer made an announcement regarding its acquisition of Blackford Analysis, an AI imaging solutions provider. This strategic move by Bayer underscores its commitment to fostering innovation in the field of radiology.
Medical Imaging Outsourcing Key Market Trends
- Rising Integration of Artificial Intelligence: The increasing integration of artificial intelligence (AI) and machine learning in medical image analysis. AI-driven tools are enhancing the speed and accuracy of diagnostic interpretations, enabling more precise patient care and streamlined workflows. It also offers cost-effective solutions, making it an appealing option for healthcare facilities aiming to maintain high-quality services while managing costs efficiently.
Medical Imaging Outsourcing Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Global medical imaging outsourcing market analysis reveals a dynamic marketplace with a number of standout trends and difficulties. The increasing demand for diagnostic imaging services, technological advancements, and the cost-efficiency of outsourcing. However, restraints encompass regulatory complexities, data security concerns, and potential variability in service quality. Additionally, product type analysis reveals a significant focus on medical image analysis and AI-driven solutions. Regionally, North America holds a dominant position, while the Asia-Pacific region is emerging as the fastest-growing market. Key trends involve the integration of AI in image analysis, and the expansion of telehealth reflecting an evolving and dynamic market landscape.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 8.48 Billion |
| Market size value in 2031 | USD 12.06 Billion |
| Growth Rate | 4% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Medical Imaging Outsourcing Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Medical Imaging Outsourcing Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Medical Imaging Outsourcing Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Medical Imaging Outsourcing Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Medical Imaging Outsourcing Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Medical Imaging Outsourcing Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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