Global Radiology Services Market: Overview

Radiology has emerged as a significant tool for diagnosis of several diseases and has played an extremely powerful role in the supervision of treatment and prediction of the outcome. Radiology refers to a medical specialty that makes use of imaging technology to treat and detect diseases that are seen inside the body. Computed tomography (CT), X-ray, magnetic resonance imaging, positron emission tomography (PET), and ultrasound are some of the imaging techniques that are utilized by radiologists to treat and diagnose illnesses.

Type, application, technology, end user, and region are the parameters based on which the global market for radiology services have been split into.

Global Radiology Services Market: Notable Developments

Some of the remarkable developments pertaining to the global radiology services market are:

  • GE Healthcare systems introduced brand new diagnostic imaging products such as in 2018 SIGNA Premier 3.0T MRI system, in 2016 Vivid iq high-end portable compact cardiovascular ultrasound, and in 2017 CardioGraphe CT Scanner. With so many product launches, it is expected that GE Healthcare systems will be able to expand its presence across the globe.

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A few of the reputed organizations functioning in the global radiology services market are as mentioned below:

  • Radisphere National Radiology Group Inc.
  • Cybernet Medical Corporation
  • GE Healthcare Systems
  • Telediagnostics Services Pvt. Ltd.
  • 4ways Healthcare Limited
  • Medica Reporting Ltd.

Global Radiology Services Market: Key Trends

The future course of the global radiology services market is likely to be influence by the following factors of growth over the forecast period, from 2019 to 2027.

Growing Importance of Radiology Services Bolster its Demand in the Market

Radiology comprises imaging technologies for technical purposes. Sonographers, medical physicists, biomedical engineers, radiographers, radiologists, and nurses are also included in the radiology sector. With many imaging modalities in the sector today, radiology services have emerged as a vital element in the medical industry. Doctors, these days, substantially depend on radiographers. In addition to conducting these tests, radiographers offer physical and emotional support at the time of preparing patients for these patients, which helps in the growth of the global radiology services market.

With the prevalence of several dreadful diseases across the globe, it is essential to have a sound disease management plan in place. Radiology services has a key role to play in the management of diseases as it provides doctors more techniques, tools, and options for the treatment and detection of diseases. Increased acceptance in the medical fraternity is expected to boost the global radiology services market during the period of forecast. Imaging technologies offer comprehensive information pertaining to the disease related or structural changes. It is quite likely to save the life of a patient if diagnosis is done at an early stage of a disease. In many cases, patients die due to lack of early diagnosis. With such life saving feature, the global radiology services market is set to grow over the assessment tenure.

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In addition to being a crucial component in the medical industry, this sector is coming up fast as a popular career option amongst many, which is another growth factor for the expansion of the global radiology services market in years to come.

Global Radiology Services Market: Geographical Analysis

To paint a detailed landscape of the global radiology services market, TMR analysts have segmented the market on the basis of region. The market is split into the major regions of Latin America, Europe, Asia Pacific, the Middle East and Africa, and North America.

From the regional viewpoint, the North America is expected to reign over the global radiology services market during the assessment period. It has been estimated that augmented funding by market players in research and development activities coupled with government initiative to develop healthcare infrastructure is likely to boost the regional market. In addition, rapid rise in the prevalence of chronic diseases like heart diseases, diabetes are likely to fuel the market in the region.

The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.

The study is a source of reliable data on:

  • Market segments and sub-segments
  • Market trends and dynamics
  • Supply and demand
  • Market size
  • Current trends/opportunities/challenges
  • Competitive landscape
  • Technological breakthroughs
  • Value chain and stakeholder analysis

The regional analysis covers:

  • North America (U.S. and Canada)
  • Latin America (Mexico, Brazil, Peru, Chile, and others)
  • Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
  • Eastern Europe (Poland and Russia)
  • Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
  • Middle East and Africa (GCC, Southern Africa, and North Africa)

The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.

A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.

Highlights of the report:

  • A complete backdrop analysis, which includes an assessment of the parent market
  • Important changes in market dynamics
  • Market segmentation up to the second or third level
  • Historical, current, and projected size of the market from the standpoint of both value and volume
  • Reporting and evaluation of recent industry developments
  • Market shares and strategies of key players
  • Emerging niche segments and regional markets
  • An objective assessment of the trajectory of the market
  • Recommendations to companies for strengthening their foothold in the market   

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis. 

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Radiology Services Market

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