The United States is home to the world’s largest medical imaging market. Thanks to high disposable incomes, widespread health insurance coverage, and advanced healthcare infrastructure, more than 607 million imaging procedures—including X-rays, CT scans, MRIs, PET scans, ultrasounds, and mammographies—are performed each year. These services are a cornerstone of modern healthcare, providing essential diagnostic insights across all age groups.
Looking ahead, several key trends and growth drivers are shaping the diagnostic imaging centers industry. Innovative new equipment from major manufacturers is spurring demand, while the country’s rapidly aging population is expected to accelerate utilization of imaging services. As seniors are more susceptible to chronic illnesses, imaging volumes will continue to climb.
Key Insights Into the Industry
Market Value
Marketdata estimates that the U.S. diagnostic imaging centers industry generated $26.9 billion in 2024. Revenues are forecast to grow at an average annual rate of 5.2% through 2028. However, stronger gains are limited by persistent Medicare reimbursement cuts and an ongoing shortage of radiologists.
Industry Structure
- 6,968 diagnostic imaging facilities operate nationwide.
- The average center generates $3.6 million annually in receipts.
- The industry employs roughly 109,000 workers.
- Only six companies run more than 100 centers, indicating a highly fragmented landscape.
Emerging Shifts
The industry is undergoing notable changes:
- Increased shift of procedure volumes to lower-cost outpatient centers.
- Growth of retail and retail-health partnerships.
- Strong adoption of teleradiology and AI-driven productivity tools.
Operations
A typical imaging center reports $3.6 million in annual revenues, with payroll accounting for 29.5% of sales.
Procedure Volumes
After a sharp decline during the COVID-19 pandemic in 2020, procedure volumes have steadily rebounded. In 2023 alone, more than 607 million imaging procedures were performed in the U.S., including 93 million CT scans and 40 million MRIs.
Competitive Landscape
Competition remains fierce:
- Nearly 7,000 facilities compete for patients.
- The 12 largest firms capture just 21% of the market, underscoring its fragmented nature.
- RadNet is the only publicly traded company operating a national chain of imaging centers.
Final Thoughts
The diagnostic imaging centers industry is both vital and evolving. Aging demographics, cutting-edge technology, and shifting care delivery models are driving steady growth, though reimbursement pressures and workforce shortages remain key challenges.
