The global diagnostic services market size is expected to reach USD 2,487.8 billion by 2030, according to a new study by Polaris Market Research. The 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” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The key factors that are propelling the market growth include the launches of diagnostic services products along with technological advancements. For instance, in May 2022, Healthians, an innovation diagnostics start-up, introduced Health on Wheels to enable millions of Indians to get evaluated and remain healthy.
Healthains has also announced the launch of an unlimited screening for breast cancer detention center for 'women in police in Gurugram.' With this elaborate project, every Indian's life will be improved by providing precise, affordable, and hassle-free preventative health diagnostic services at whichever time and from any location.
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Moreover, the rapidly rising establishment of new diagnostic service centers by the key players is boosting the market growth over the forecast period. For instance, in April 2022, Atulaya Healthcare announces the advancement of its operational processes in Jammu, in keeping with its promise to provide world-class diagnosing services to individuals across India at reasonable prices. Atulaya has already had two locations, one in the KC Complex and one in Shingari.
The innovative Channi Himmat facility in Jammu is a highly integrated diagnostic center that includes radiology and pathology. Also, in January 2021, Telangana's government set up eight Telangana Diagnostics micro hubs. Diagnostics is a unique initiative that can provide free screening and imaging services to the general public. Therefore, these factors are driving the growth of the market over the forecast period.
Moreover, the chance of contracting diseases increases with age. According to the Centers for Disease Control and Prevention (CDC), as in almost 80.0% of the elderly in the United States have at least one ongoing illness. Furthermore, the American Medical Association (AMA) predicts that by 2030, around 60.0% of individuals aged 65 and up will suffer from more than one chronic illness. As the population ages, there will be greater demand for better health centers, new treatment options, and drugs. This diagnostic services trend is expected to result in a surge in demand for technically sophisticated devices.
Diagnostic Services Market Report Highlights
Polaris Market Research has segmented the Diagnostic Services market report based on test, application, end-use, type, and region:
Diagnostic Services, Test Outlook (Revenue - USD Billion, 2018 - 2030)
Diagnostic Services, Application Outlook (Revenue - USD Billion, 2018 - 2030)
Diagnostic Services, End-Use Outlook (Revenue - USD Billion, 2018 - 2030)
Diagnostic Services, Type Outlook (Revenue - USD Billion, 2018 - 2030)
Diagnostic Services, Regional Outlook (Revenue - USD Billion, 2018 - 2030)