PUBLISHER: Grand View Research | PRODUCT CODE: 1224691
PUBLISHER: Grand View Research | PRODUCT CODE: 1224691
The U.S. independent diagnostic testing facility market size is expected to reach USD 4.8 billion by 2030, expanding at a CAGR of 4.52% from 2023 to 2030, based on a new report by Grand View Research, Inc. Growing prevalence of target diseases such as cardiovascular diseases coupled with rising demand for early disease detection and monitoring diagnostic tests are expected to drive the market growth.
Furthermore, rising awareness among patients regarding the early detection of diseases is anticipated to favor market growth. The lower cost of performing diagnostic procedures at independent diagnostic testing facilities (IDTFs) has shifted patient volumes from hospitals to IDTFs. The site-neutral payment policies from CMS private payors in recent times have boosted the demand for imaging volumes to the IDTFs.
The COVID-19 pandemic has significantly impacted the independent diagnostic testing facilities market during the initial period, owing to the closure of services and the sharp decline in patient volumes due to stringent regulations. Post-pandemic patients are shifting from hospital settings to outpatient settings for diagnosis with the demand for imaging diagnostics services, contributing to the growth of the market.