Diagnostic Imaging Centers in the US Industry Market Research Report Now Available from IBISWorld

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During the five years to 2012, diagnostic imaging has experienced growth as a result of the recognition of these services as cost-effective and noninvasive diagnostic tools. The market for analytic and diagnostic services will continue to grow rapidly in the five years to 2017. Consolidation will lead to larger operators, which will help reduce costs and maintain bargaining power with health insurance providers. For these reasons, industry research firm IBISWorld has added a report on the Diagnostic Imaging Centers industry to its growing industry report collection.

IBISWorld Market Research

IBISWorld Market Research

Greater access to insurance and the aging population are expected to boost demand

The diagnostic testing segment remains fragmented and highly competitive. There are about 6,695 freestanding diagnostic imaging centers, those that operate independently of hospitals, in the United States. About 70.0% of annual spending in the United States on diagnostic imaging services takes place in hospital settings, with the remainder done in outpatient centers (including physicians' offices and independent diagnostic testing facilities). Firms in the Diagnostic Imaging Centers industry generally focus on more complex and more costly imaging services, such as computed tomography (CT) scans, magnetic resonance imaging (MRI) and nuclear medicine (which include positron emission tomography, or PET).

During the five years to 2012, diagnostic imaging has experienced growth as a result of the recognition of these services as cost-effective and noninvasive diagnostic tools. Physicians and patients have recognized the value of diagnostic testing as a way to improve health and reduce the cost of healthcare through early detection and prevention. The aging population has increased overall demand for healthcare services, including diagnostic services. Also, continuing research and development in genomics (the study of DNA, genes and chromosomes) and proteomics (the study of individual proteins and collections of proteins) have boosted the growth of diagnostic testing services. As such, IBISWorld expects the Diagnostic Imaging Centers industry's revenue to grow at an annualized rate of 2.6% during the period, according to IBISWorld industry analyst Josh McBee.

The market for analytic and diagnostic services will continue to grow rapidly in the five years to 2017, including a 3.4% gain expected to bring total revenue to an estimated $21.2 billion in 2012, McBee says. Scientific advances will continue to yield new and improved service capabilities and the aging US population will require more and better diagnostic imaging services. Additionally, the healthcare reform legislation of 2010 will begin taking effect during the next five years, which will be a net benefit to the industry; greater access to insurance is expected to boost demand, shrinking out-of-pocket costs for laboratory services. Consolidation will lead to larger operators, which will help reduce costs and maintain bargaining power with health insurance providers. Concentration in this industry has increased over the past five years due to mergers and acquisitions, but the industry remains highly fragmented. For more information, visit IBISWorld’s Diagnostic Imaging Centers in the US industry report page.

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IBISWorld industry Report Key Topics

This industry includes outpatient freestanding facilities that use machines and techniques to create images of the inside of a patient's body. The technology that is used 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 ultrasound. Imaging facilities within a larger hospital are excluded, but mobile laboratories are included.
Industry Performance
Executive Summary
Key External Drivers
Current Performance
Industry Outlook
Industry Life Cycle
Products & Markets
Supply Chain
Products & Services
Major Markets
Globalization & Trade
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Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
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Key Statistics
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About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.

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