The increased use of electronic machinery for medical diagnosing has given us more accurate diagnostic tools, tools which can often be used instead of more invasive surgical intervention. Diagnostic imaging centers are at the center of the medical services industry. Revenues earned by diagnostic imaging centers grew by 200% between 1997 and 2007, an annual growth rate of 18.1%. By way of comparison, the inflation rate over this period averaged 2.6% annually.

The activities which fall under the umbrella term “diagnostic imaging” include four major types of scans: 1. Radiological (x-rays); 2. Computer Tomography (CT); 3. Magnetic Resonance Imaging (MRI), and 4. Ultrasound. Worth noting is the fact that the term also refers to the activities undertaken by physicians, now and throughout history, when they used their tactile sense, feeling an area of the body in order to visualize the condition of internal organs. The services offered at diagnostic imaging centers do not include this most basic form of diagnostic imaging.

Geographic reference: United States
Year: 1997 and 2007
Market size: $5.87 billion and $17.58 billion in annual receipts respectively
Source: “2007 Economic Census: Sector 62: Health Care and Social Assistance Programs: Preliminary Comparative Statistics for the United States 2007 and 2002,” March 26, 2010, available online here. Data for 1997 are from a report by the same title in the “1997 Economic Census” series.
Original source: U.S. Bureau of the Census