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2023 U.S. Industry Statistics & Market Forecast - Diagnostic Imaging Centers
Market Size & Industry Statistics
The total U.S. industry market size for Diagnostic Imaging Centers:
Industry statistics cover all companies in the United States, both public and private, ranging in size from small businesses to market leaders.
In addition to revenue, the industry market analysis shows information on employees, companies, and average firm size.
Investors, banks, and business executives use growth rates and industry trends to understand the market outlook and opportunity.
| Statistics | 2017 2018 2019 2020 2021 2022 | |
|---|---|---|
| Market Size (Total Sales/Revenue) |
Order at top of page | |
| Total Firms | ||
| Total Employees | ||
| Average Revenue Per Firm | ||
| Average Employees Per Firm | ||
| Average Revenue Per Employee | ||
Market Forecast
Market forecasts show the long term industry outlook and future growth trends. The following extended five-year / six-year demand forecast projects both short-term and long-term trends.
| Forecast / Industry Outlook | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|
| Market Forecast ($ millions) | ||||||
| Projected Industry Growth Rate (%) | ||||||
Industry Insights
The Diagnostic Imaging Centers industry is currently experiencing several key trends that are impacting its growth and profitability. One of the most notable trends in the industry is the increasing demand for advanced diagnostic imaging technologies such as MRI, CT, PET, and ultrasound, which are becoming more accessible to patients due to their increasing affordability.Another important trend in the industry is the rising importance of data analytics in diagnostic imaging. As healthcare providers become more focused on delivering personalized care to patients, they are relying on advanced data analytics tools to help them make more informed and accurate diagnoses.
The growth of telemedicine is also having a significant impact on the Diagnostic Imaging Centers industry. Providers are increasingly offering virtual consultations and remote diagnostic imaging services, which is improving patient access to care while reducing costs for providers.
Lastly, industry consolidation is becoming more prevalent as larger healthcare organizations seek to acquire smaller diagnostic imaging centers in order to gain greater market share and reduce costs. This trend is likely to continue, as providers face increasing pressure to reduce healthcare costs while maintaining high-quality care for their patients.
Trends in Diagnostic Imaging Centers
The diagnostic imaging centers industry is an ever-evolving field that has seen significant changes in recent years, with new technology and advancements driving the industry forward. Diagnostic imaging centers provide services such as X-rays, MRI, CT scans, and ultrasound to diagnose and treat illnesses and injuries.One trend in the diagnostic imaging centers industry is the growing use of advanced technology. This includes the use of 3D imaging, which allows for more detailed and accurate images to be obtained. This can help to improve the accuracy of diagnoses and reduce the need for additional imaging tests. Additionally, many diagnostic imaging centers are now using digital imaging systems, which can help to improve image quality and reduce radiation exposure for patients.
Another trend in the diagnostic imaging centers industry is the growing emphasis on patient-centered care. This includes providing more comfortable and less intimidating environments for patients and offering services such as same-day appointments and online scheduling. Additionally, many diagnostic imaging centers are now offering remote reading services, which allow radiologists to review images remotely, reducing the need for patients to travel to the imaging center.
The use of artificial intelligence is also becoming a trend in the diagnostic imaging centers industry. AI-based diagnostic imaging tools are being developed to support radiologists in identifying patterns that could be indicative of a disease or injury. This will help to improve the speed and accuracy of diagnoses and ultimately improve patient care.
The industry is also seeing a shift towards the use of mobile imaging units, which can bring diagnostic imaging services to patients in remote locations or in emergency situations. This can help to improve access to care and reduce the need for patients to travel long distances to receive diagnostic imaging services.
Lastly, the diagnostic imaging centers industry is becoming more competitive as new players enter the market and existing players expand their offerings. This is leading to increased pressure on diagnostic imaging centers to improve their services and stay competitive on pricing.
Product & Services Breakdown
Research products and services in the Diagnostic Imaging Centers industry generating sales. Note that products are broken into categories with different levels of classification.| Product Description | Number of Companies | Sales ($ millions) | Percent of Total Sales |
|---|---|---|---|
Industry Total |
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Laboratory Services |
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Diagnostic Imaging Services |
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X-Ray/Radiography Imaging, Including Fluoroscopy And Mammography |
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Magnetic Resonance Imaging (Mri) |
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Computed Tomography (Ct) Scanning |
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Nuclear Medicine Scanning, Including Pet/Ct |
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Ultrasound Imaging |
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Electroencephalography (Eeg), Magnetoencephalography (Meg), Electrocardiography (Ekg) |
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Other Diagnostic Imaging Services |
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Rental Or Lease Of Goods And/Or Equipment |
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All Other Receipts |
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All Other Operating Receipts |
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U.S. Geographic Distribution: Revenue Statistics by State
Market Size by State ($ millions) indicates how the industry's competition is distributed throughout the country. State-level information can identify areas with higher and lower industry market share than average.
Income Statement (Average Financial Metrics)
Financial metrics provide a snapshot view of a benchmark "average" company. Key business metrics show revenue and operating costs. The data collected covers both public and private companies.| Industry Average | Percent of Sales (Industry Benchmark) | |
|---|---|---|
| Total Revenue | Order at top of page |
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| Operating Revenue | ||
| Cost of Goods Sold | ||
| Gross Profit | ||
Operating Expenses | ||
| Pension, profit sharing plans, stock, annuity | ||
| Repairs | ||
| Rent paid on business property | ||
| Charitable Contributions | ||
| Depletion | ||
| Domestic production activities deduction | ||
| Advertising | ||
| Compensation of officers | ||
| Salaries and wages | ||
| Employee benefit programs | ||
| Taxes and Licenses | ||
| Bad Debts | ||
| Depreciation | ||
| Amortization | ||
| Other Operating Expenses | ||
| Total Operating Expenses | ||
| Operating Income | ||
| Non-Operating Income | ||
| EBIT (Earnings Before Interest and Taxes) | ||
| Interest Expense | ||
| Earnings Before Taxes | ||
| Income Tax | ||
| Net Profit Net Income | ||
Financial Ratio Analysis
Financial ratio information can be used to benchmark how a Diagnostic Imaging Centers company compares to its peers. Accounting statistics are calculated from the industry-average for income statements and balance sheets.| Profitability & Valuation Ratios | Industry Average |
|---|---|
| Company valuation can be measured based on the firm's own performance, as well as in comparison against its industry competitors. These metrics show how the average company in the Diagnostic Imaging Centers industry is performing. | |
| Profit Margin Gross Profit Margin, Operating Profit Margin, and Net Profit Margin. Show company earnings relative to revenues. |
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| Return on Equity (ROE) Return on Equity (ROE) is net income as a percentage of shareholders' equity. Shareholders' Equity is defined as the company's total assets minus total liabilities. ROE shows how much profits a company generates with the money shareholders invested (or with retained earnings). |
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| Return on Assets (ROA) Return on Assets (ROA) is net income relative to total assets. The market research on Diagnostic Imaging Centers measures how efficiently the company leverages its assets to generate profit. ROA is calculated as Net Income divided by Total Assets. |
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| Liquidity Ratios | Industry Average |
|---|---|
| Bankers and suppliers use liquidity to determine creditworthiness and identify potential threats to a company's financial viability. | |
| Current Ratio Measures a firm's ability to pay its debts over the next 12 months. |
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| Quick Ratio (Acid Test) Calculates liquid assets relative to liabilities, excluding inventories. |
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| Efficiency Ratios - Key Performance Indicators | Industry Average |
|---|---|
| Measure how quickly products and services sell, and effectively collections policies are implemented. | |
| Receivables Turnover Ratio If this number is low in your business when compared to the industry average in the research report, it may mean your payment terms are too lenient or that you are not doing a good enough job on collections. |
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| Average Collection Period Based on the Receivables Turnover, this estimates the collection period in days. Calculated as 365 divided by the Receivables Turnover |
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| Inventory Turnover A low turnover rate may point to overstocking, obsolescence, or deficiencies in the product line or marketing effort. |
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| Fixed-Asset Turnover Generally, higher is better, since it indicates the business has less money tied up in fixed assets for each dollar of sales revenue. |
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Compensation & Salary Surveys for Employees
Compensation statistics provides an accurate assessment of industry-specific jobs and national salary averages. This information can be used to identify which positions are most common, and high, low, and average annual wages.| Title | Percent of Workforce | Bottom Quartile | Average (Median) Salary | Upper Quartile |
|---|---|---|---|---|
| Management Occupations | 6% | Order at top of page |
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| Chief Executives | 0% | |||
| General and Operations Managers | 1% | |||
| Healthcare Practitioners and Technical Occupations | 40% | |||
| Health Technologists and Technicians | 35% | |||
| Clinical Laboratory Technologists and Technicians | 22% | |||
| Diagnostic Related Technologists and Technicians | 11% | |||
| Radiologic Technologists and Technicians | 5% | |||
| Healthcare Support Occupations | 18% | |||
| Other Healthcare Support Occupations | 18% | |||
| Miscellaneous Healthcare Support Occupations | 18% | |||
| Phlebotomists | 15% | |||
| Office and Administrative Support Occupations | 22% | |||
| Information and Record Clerks | 7% | |||
| Material Recording, Scheduling, Dispatching, and Distributing Workers | 5% | |||
Diagnostic Imaging Centers Competitor Landscape & Key Companies [PREMIUM]
The most influential companies in the Diagnostic Imaging Centers industry and adjacent industries either have large market share or are developing new business models and methods that could disrupt the status quo. We look at leading and emerging companies in the Diagnostic Imaging Centers industry and adjacent sectors:| Market Leaders: Direct Competitors Companies with the largest market share, focused in this industry |
Market leaders: Diversified Competitors Largest companies that have diversified operations in this and other industries |
| Innovators: Direct Competitors Innovative, Emerging, and Disruptive Companies that may influence the future direction of the industry. |
Innovators: Diversified Competitors Innovators and Disruptors in adjacent industries that may also affect the Diagnostic Imaging Centers industry. |
Source:
Government Contracts
In 2022, the federal government spent a total of $134,666,099 on Diagnostic Imaging Centers. It has awarded 528 contracts to 152 companies, with an average value of $885,961 per company.| Most Recent Contracts | Date | Total Award Amount |
|---|---|---|
| UNIVERSITY OF ALABAMA AT BIRMINGHAM 701 S 20th St Birmingham, AL | Jun 30, 2023 | $16,000 |
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