Global Diagnostic Services Market Size & Trends Estimated to Reach Over US $ 2,487.8 Million by 2030 | CAGR: 13.3%: Analysis by Polaris Market Research

NEW YORK, Nov. 4, 2022 /PRNewswire/ -- Polaris Market Research recently published [115+ Pages] research report on "Diagnostic Services Market Share, Size, Trends, Industry Analysis Report, By Application (Neurology, Orthopedics, Cardiovascular, Oncology, Ultrasound, Obstetrics & Gynecology, Other); By Type; By Test; By End-Use; By Region; Segment Forecast, 2022 - 2030" in its research database.

According to the research report, the global diagnostic services market size & share was valued at USD 818.4 million in 2021 and is expected to surpass USD 2,487.8 Million by 2030, growing at a CAGR of 13.3% during the forecast period.

What is Diagnostic Services? How Big is Diagnostic Services Market Size?

• Overview?

Diagnostic services are a critical component of many healthcare industries across the globe. These services can be defined as diagnostic examination that includes clinical services of pathology and laboratory medicine, psychological testing, and radiology. They are used to determine the nature and cause of a disease, illness, or injury in less time with high quality. Some of examples of diagnostic services are sonograms, nuclear medicine scans, X-Ray, MRIs, and computed tomography.

The main motive of these services is to aid healthcare providers in identifying the disease and selecting the right treatment option. The demand for diagnostic services market is growing due to the rising technological developments in MRI modality and increasing the application of MRI in the healthcare profession. Also, Furthermore, increasing healthcare insurance for medical imaging offerings is expected to supplement the market expansion.

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Our Free Sample Report Includes

• Report introduction, overview, and in-depth industry analysis
• Competitive landscape and leading competitor market shares
• 115+ pages research report
• Offer chapter-wise instruction on request
• Includes market presence across different geographies with share, size, and trends
• Updated list of tables and figures
• The report offers top market players with their sales volume, business strategy, and revenue analysis
• Factors and fact research methodology

Some of the Top Market Players Are:

• Alliance Medical Inc
• Concord Medical Services Holdings Limited
• Dignity Health Incorporation
• F. Hoffmann-La Roche AG
• Global Diagnostics Corp.
• Healthcare Imaging Services Pty Ltd
• InHealth Group
• Medica Group
• Novant Health Group
• Quest Diagnostics Inc.
• RadNet Inc
• Sonic Healthcare Corporation
• Sysmex Corporation
• Thermo Fisher Scientific

To Know More About Addition Information on Key Players, Download a Report PDF Brochure

Growth Driving Factors

• Rising developments in diagnostic services to uptick the market demand

The increasing number of product launches for advanced diagnostic testing services is one of the prominent factors driving the diagnostic services market size. The rising incidences of chronic diseases and the increasing demand for early diagnostic tests. The industry is also booming due to the major research and development funding by public and private firms for diagnostic services in the market. Rapid technological development is further boosting the diagnostic services industry demand.

Moreover, increasing volumes of testing samples have led to increased advancements in data management and sample preparation, which is expected to flourish the diagnostic services market sales. In addition, a surge in investments in development of diagnostic services is estimated to people the industry's evolution. For instance, in November 2021, the UK Government announced financial support for the National Health Service (NHS) of £248 million ($334.6 million) to digitize diagnostic testing care and address the issue of patient waiting times.

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Recent Developments

In June 2022, Orange Health have announced the commencement of its services in New Delhi as a component of its optimistic geographical expansion strategy. Customers in the NCR region can now access a variety of diagnostic services in just 1 hour from the convenience of their homes, with the information provided in 6 hours.

Segmental Analysis

• Neurology segment is anticipated account for the largest revenue share

Based on application, neurology segment is expected to generate the fastest growth owing to the increasing cases of neurobiological disorders and stroke. Diagnostic services can assist healthcare professionals to identify and diagnose neurological conditions. Parkinson's disease, after Alzheimer's disease, is the most common neurological disorder. Further, due to a surge in occurrences of cardiovascular conditions in the United States, the cardiology segment is likely to account for a significant diagnostic services market share over the predicted period.

• CT Scans type segment industry held the major market share in 2021

On the basis of type, the CT scans segment witnessed the largest share attributing to the increased number of CT scan procedures and its relatively high cost. As per OECD report, in the United States, 83.3 million CT exams were performed in 2017 and 91.6 million in 2019. Moreover, the growing elderly population has led to increased consumption of CT scan procedures, which is fueling the segment growth in the diagnostic services market.

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Diagnostic Services Market: Report Scope

The demand in North America is expected to witness significant growth

Based on geography, North America will dominate the market because of the growing elderly population, increasing patient knowledge, and understanding of the importance of laboratory tests. Also, the COVID-19 outbreak caused increased financial support and testing, which has positively influenced the growth of diagnostic services market in North America. The rising cases of chronic diseases, including cancer, cardiovascular disease, and obesity in the United States have led to an increase in the demand for enhanced treatment with effective management. This is one of the major factors accelerating regional market growth.

Moreover, Asia Pacific is anticipated to record the fastest CAGR throughout the foreseen period. This revenue share can be attributed to enhancing health infrastructure and surging spending on medical testing. Rising insurance advantages in several Asia Pacific nations are further bolstering the diagnostic services market demand.

Browse the Detail Report "Diagnostic Services Market Share, Size, Trends, Industry Analysis Report, By Application (Neurology, Orthopedics, Cardiovascular, Oncology, Ultrasound, Obstetrics & Gynecology, Other); By Type; By Test; By End-Use; By Region; Segment Forecast, 2022 - 2030" with in-depth TOC: https://www.polarismarketresearch.com/industry-analysis/diagnostic-services-market

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Polaris Market Research has segmented the Diagnostic Services market report based on test, application, end-use, type, and region:

By Test Outlook

• Lipid Panel
• Liver Panel
• Renal Panel
• Complete Blood Count
• Electrolyte Testing
• Infectious Disease Testing
• Others

By Application Outlook

• Neurology
• Orthopedics
• Cardiovascular
• Oncology
• Ultrasound
• Obstetrics & Gynecology
• Others

By Type Outlook

• X-ray Imaging
• Ultrasound
• Magnetic Resource Imaging (MRI)
• Computed Tomography
• Nuclear Imaging
• Mammography

By End-Use Outlook

• Hospitals
• Diagnostic Centers
• Point-of-Care Testing
• Ambulatory Care Centers
• Research & Academia

By Region Outlook

• North America (U.S., Canada)
• Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
• Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
• Latin America (Brazil, Mexico, Argentina)
• Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)

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About Polaris Market Research

Polaris Market Research is a global market research and consulting company. The company specializes in providing exceptional market intelligence and in-depth business research services for PMR's clientele spread across different enterprises. We at Polaris are obliged to serve PMR's diverse customer base present across the industries of healthcare, technology, semi-conductors and chemicals among various other industries present around the world. We strive to provide PMR's customers with updated information on innovative technologies, high growth markets, emerging business environments and latest business-centric applications, thereby helping them always to make informed decisions and leverage new opportunities. Adept with a highly competent, experienced and extremely qualified team of experts comprising SMEs, analysts and consultants, we at Polaris endeavor to deliver value-added business solutions to PMR's customers.

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SOURCE Polaris Market Research