Positive diagnosis: Healthcare reform and a growing elderly population will boost revenue

The Diagnostic Imaging Centers industry in the United States provides traditional X-ray and ultrasound services, but also offers more complex and costly imaging services, such as computed tomography scans and magnetic resonance imaging. The industry is highly competitive, due both to internal pricing pressures from consolidating industry companies and volume pressure from external competitors, such as hospitals and physicians' offices that acquire their own imaging capabilities. Over the five years to 2023, demand for imaging services rose as economic growth and healthcare reform legislation improved healthcare coverage in the United States. IBISWorld expects that growth to continue over the five years to 2023...purchase to read more.

Industry Statistics & Market Size
Revenue
$19bn
Annual Growth 13-18
0.5%
Forecast Growth 18-23
Profit
Employment
100,298
Businesses
13,529
Market Share of Companies
There are no companies with a dominant market share in this industry

Industry Threats & Opportunities

  • Demand for services rose as economic growth and healthcare reform legislation improved healthcare coverage
  • While demand has grown, imaging centers have struggled to keep up with competition
  • Third-party payers will continue their attempts to reduce system-wide waste and fraud to keep costs low
  • Industry Report - Industry Key Buyers Chapter

    The Diagnostic Imaging Centers industry in the United States has a low level of concentration. In 2018, the three largest industry companies generated less than 10.0% of total industry revenue. Concentration has increased over the past five years, but the industry remains highly fragmented. The industry's consolidation has been aided by company mergers and acquisitions. In 2012, the Center for Diagnostic Imaging and Insight Imaging Inc. merged to become one of the nation's largest medical imaging and related services organizations. In response to cost-cutting pressures across the medical sector, customers and payers, including physicians, health insurance plans, employers and pharmaceutical companies, have consolidated. Lik...purchase to read more.

    Additional Insights for the Diagnostic Imaging Centers Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Diagnostic Imaging Centers Industry are

  • Ensuring pricing policy is appropriate
  • Having a good reputation
  • Economies of scale
  • IBISWorld analysts also discuss how external factors such as Federal funding for Medicare and Medicaid and Number of people with private health insurance in the Diagnostic Imaging Centers industry impact industry performance..

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    What's in this report

    What is the Diagnostic Imaging Centers Industry?

    This industry includes outpatient freestanding facilities that use machines and techniques to create images of the inside of a patient’s body. The technology depends on symptoms and the part of the body being examined. Operators use various types of diagnostic imaging, including X-rays, CT scans, nuclear medicine scans, MRI scans and ultrasounds. Imaging facilities within a larger hospital are excluded, but mobile laboratories are included.

    Industry Products
  • Computed tomography (CT) scanning
  • Radiographic imaging (including X-rays)
  • Magnetic resonance imaging scans
  • Ultrasound imaging
  • All other diagnostic imaging
  • Other services
  • Industry Activities
  • Providing magnetic resonance imaging (MRI)
  • Providing computed tomography (CT) scans
  • Providing nuclear medical imaging, including positron emission tomography (PET) scans
  • Providing ultrasounds
  • Providing X-rays
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Federal funding for Medicare and Medicaid
  • Number of people with private health insurance
  • Total health expenditure
  • Number of adults aged 50 and older

  • Current Performance
  • Growing demand
  • Cost-cutting, consolidation and profitability
  • Chart: Revenue Growth

  • Industry Outlook
  • Healthcare reform challenges
  • Consolidation and profitability
  • Table: Diagnostic Imaging Centers Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Diagnostic Imaging Centers Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Primary Care Doctors
  • Specialist Doctors
  • Chiropractors
  • Emergency & Other Outpatient Care Centers
  • Hospitals
  • Psychiatric Hospitals
  • Specialty Hospitals

  • Key Selling Industries
  • Medical Device Manufacturing
  • Medical Instrument & Supply Manufacturing

  • Products & Services
  • Computed tomography (CT) scanning
  • Magnetic resonance imaging scans
  • All other diagnostic imaging
  • Ultrasound imaging
  • Radiographic imaging (including X-rays)
  • Other services
  • Chart: Diagnostic Imaging Centers Industry Products and Services Segmentation

  • Demand Determinants
  • Technological advancements
  • Aging population
  • Third-party reimbursement

  • Major Markets
  • Private insurance payments
  • Medicare and Medicaid payments
  • Health practitioner payments
  • Other
  • Hospital payments
  • Out-of-pocket payments
  • Chart: Major Market Segmentation for the Diagnostic Imaging Centers Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
    ProfitWagesPurchases and other costs
  • Chart: Cost Structure Benchmarking – Sector vs Diagnostic Imaging Centers

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Diagnostic Imaging Centers Industry

  • Industry Globalization
    There are no major players in this industry. This report includes analysis of other companies.
    Capital Intensity
  • Chart: Level of Capital Intensity for the Diagnostic Imaging Centers Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Diagnostic Imaging Centers Industry
    Includes:
  • Industry Revenue (2009-2023)
  • Industry Gross Product (2009-2023)
  • Establishments (2009-2023)
  • Businesses (2009-2023)
  • Employment (2009-2023)
  • Wages (2009-2023)
  • People with private health insurance (2009-2023)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
    Ct Scan
  • The use of computers in addition to x-rays to show cross sections or slices of data and provide a more detailed picture compared with x-rays.
  • Genomics
  • The study of DNA, genes and chromosomes.
  • Magnetic Resonance Imaging (Mri)
  • A type of nuclear emissions imaging that uses a large magnet to take detailed pictures of the inside of the body.
  • Radio-Pharmaceutical
  • Radioactive pharmaceuticals, which are used as tracers for imaging in nuclear medicine.
  • Sonography
  • A type of reflection imaging that uses sound waves to create images. Also called ultrasound imaging.
  • Telemedicine
  • An application of clinical medicine whereby medical information is transferred through interactive audiovisual media for the purpose of consulting and remote medical procedures or examinations.
  • X-Ray
  • The passing of an electromagnetic beam through the body to produce images on film.
  • What Our Customers Say

    Why buy this report?

    The Diagnostic Imaging Centers industry market report contains strategic analysis of the key drivers influencing the industry. Save hours of time on research and prospecting using IBISWorld’s standardized, up-to-date reports on thousands of industries. Our industry research provides growth and profit forecasts for a five-year outlook period, presented in a clear and user-friendly format.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Diagnostic Imaging Centers:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Diagnostic Imaging Centers market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Diagnostic Imaging Centers, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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