Radiology Services Global Market Report 2024

Description

“Radiology Services Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on radiology services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

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Where is the largest and fastest growing market for radiology services? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The radiology services market global report ” from The Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

Scope

Markets Covered:

1) By Type: Stationary Digital Radiology Systems; Portable Digital Radiology Systems
2) By Procedure: Conventional; Digital
3) By Patient Age: Adults; Pediatric
4) By Application: Cardiovascular Imaging; Chest Imaging; Dental Imaging; Mammography Imaging; Orthopedic Imaging
5) By End User: Hospitals; Ambulatory Centers; Diagnostic Centers; Clinics; Other End Users
Companies Mentioned: Radisphere National Radiology Group Inc.; Cybernet Manufacturing Inc.; GE HealthCare; TeleDiagnostic Solutions Pvt. Ltd.; 4ways Healthcare Limited
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Executive Summary

Radiology is a medical discipline that utilizes imaging technologies, such as x-rays, for both the diagnosis and treatment of diseases. Within radiology, services encompass both diagnostic and therapeutic applications. Radiologists, as medical professionals specializing in this field, employ a variety of medical imaging methods, examinations, and tests, along with a range of instruments and techniques to identify, examine, and address medical conditions.

The primary types of radiology services include stationary digital radiology systems and portable digital radiology systems. Stationary digital radiology systems are fixed in one location and cannot be moved. Procedures conducted using these systems include both conventional and digital methods, catering to patients of varying age groups, including adults and pediatric populations. Radiology services find applications in cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and are utilized by end users such as hospitals, ambulatory centers, diagnostic centers, clinics, and others.

The radiology services market research report is one of a series of new reports from The Business Research Company that provides radiology services market statistics, including global market size, regional shares, competitors with a radiology services market share, detailed radiology services market segments, market trends and opportunities, and any further data you may need to thrive in the radiology services industry. This radiology services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The radiology services market size has grown rapidly in recent years. It will grow from $6.47 billion in 2023 to $7.27 billion in 2024 at a compound annual growth rate (CAGR) of 12.4%. The growth observed in the historical period can be attributed to factors such as the digitalization of imaging, the evolution of modalities, a shift towards PACS (Picture Archiving and Communication System) and RIS (Radiology Information System) systems, an emphasis on subspecialties within radiology, and a focus on maintaining quality standards and accreditation in the field.

The radiology services market size is expected to see rapid growth in the next few years. It will grow to $11.52 billion in 2028 at a compound annual growth rate (CAGR) of 12.2%. The anticipated growth in the forecast period can be attributed to collaborative healthcare models, an emphasis on enhanced patient-centric approaches, a focus on preventive healthcare, increased demand for personalized medicine, and the integration of artificial intelligence in radiology. Major trends expected in the forecast period include ongoing technological advancements, the rise of telemedicine and remote imaging practices, the adoption of personalized and precision medicine approaches, a growing demand for faster turnaround times in radiological processes, and the increasing integration of AI and machine learning in radiology practices.

The radiology services market is experiencing growth driven by the increasing prevalence of age-associated diseases. Conditions such as Alzheimer's disease, arthritis, and dementia become more common with age, necessitating diagnostic tests such as MRI and computed tomography. The rising incidence of these diseases has led to an increased demand for diagnostic procedures. For example, the Alzheimer's Association reported that in 2022, over 6 million U.S. citizens were affected by Alzheimer's, and this number is projected to reach 13 million by 2050. The escalating costs associated with Alzheimer's, totaling $321 billion in 2022 and expected to rise to $1 trillion by 2050, highlight the urgency for diagnostic radiology services.

The radiology services market is anticipated to be boosted by the development of healthcare infrastructure. Healthcare infrastructure encompasses the facilities, equipment, information systems, and resources needed to deliver medical services. Integrating radiology services into healthcare infrastructure enhances diagnostic capabilities, promotes interdisciplinary treatment, and improves patient outcomes across various medical specialties. For instance, the Department of Health and Aged Care in Australia announced substantial investments in healthcare infrastructure, totaling $132 billion in 2022-23 and increasing to $140 billion in 2025-26. This significant financial commitment over the next four years is expected to drive the growth of radiology services.

A prominent trend in the radiology services market is the focus on product innovations by major companies to maintain their market positions. Sirona Medical, a U.S.-based software company, introduced RadOS, a cloud radiology operating system powered by artificial intelligence. This innovative platform simplifies radiologists' workflow, enhances user experience, and boosts productivity.

Major companies in the radiology services market are adopting a strategic partnership approach to deliver cutting-edge radiology equipment and imaging services. Strategic partnerships involve leveraging each other's strengths and resources for mutual benefits. For instance, Unilabs AB, a Switzerland-based diagnostic and imaging services company, partnered with GE Healthcare Technologies, Inc. This collaboration encompasses various imaging equipment, including MRI and CT scanning, ultrasound devices, mammography, and X-ray machines. The goal is to enhance imaging capacity, expedite diagnoses, and improve diagnostic quality for patients in Portugal.

In October 2021, IMEXHS Limited, an Australia-based imaging software as a service and ancillary service provider, acquired RIMAB SAS for $5.7 million (A$ 8.5 million). This acquisition strengthens IMEXHS's product offerings in imaging and teleradiology services, providing a platform for AI-based product development. RIMAB, based in Colombia, is a provider of radiology services.

Major companies operating in the radiology services market report are Radisphere National Radiology Group Inc., Cybernet Manufacturing Inc., GE HealthCare, TeleDiagnostic Solutions Pvt. Ltd., 4ways Healthcare Limited, Medica Reporting Ltd., Koninklijke Philips N.V., Onrad Inc., Aspect Imaging Ltd., Bruker Corporation, Aurora Healthcare US Corp., FONAR Corporation, ESAOTE SPA, Neusoft Corporation, Toshiba Corporation, FUJIFILM Holdings Corporation, ONEX Corporation, Hologic Inc., Everlight Radiology, Global Diagnostics, RamSoft Inc., Siemens Healthineers, Telemedicine Clinic, Teleradiology Solutions Inc., Virtual Radiology, Hitachi Ltd., CANON MEDICAL SYSTEMS CORPORATION, Sanrad Medical Systems Private Limited, Quality Electrodynamics LLC, Shenzhen Anke High-tech Co. Ltd

North America was the largest region in the radiology services market in 2023. The regions covered in the radiology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the radiology services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The radiology services market includes revenues earned by entities by providing services such as computed tomography (CT), magnetic resonance imaging (MRI), nuclear medicine, positron emission tomography (PET) and ultrasound procedures. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Product Code: r11283

1. Executive Summary

2. Radiology Services Market Characteristics

3. Radiology Services Market Trends And Strategies

4. Radiology Services Market - Macro Economic Scenario

4.1. Impact Of High Inflation On the Market
4.2. Ukraine-Russia War Impact On the Market
4.3. COVID-19 Impact On the Market

5. Global Radiology Services Market Size and Growth

5.1. Global Radiology Services Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Radiology Services Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Radiology Services Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Radiology Services Market Segmentation

6.1. Global Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Stationary Digital Radiology Systems
Portable Digital Radiology Systems
6.2. Global Radiology Services Market, Segmentation By Procedure, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Conventional
Digital
6.3. Global Radiology Services Market, Segmentation By Patient Age, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Adults
Pediatric
6.4. Global Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Cardiovascular Imaging
Chest Imaging
Dental Imaging
Mammography Imaging
Orthopedic Imaging
6.5. Global Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hospitals
Ambulatory Centers
Diagnostic Centers
Clinics
Other End Users

7. Radiology Services Market Regional And Country Analysis

7.1. Global Radiology Services Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Radiology Services Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Radiology Services Market

8.1. Asia-Pacific Radiology Services Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Radiology Services Market

9.1. China Radiology Services Market Overview
9.2. China Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Radiology Services Market

10.1. India Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Radiology Services Market

11.1. Japan Radiology Services Market Overview
11.2. Japan Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Radiology Services Market

12.1. Australia Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Radiology Services Market

13.1. Indonesia Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Radiology Services Market

14.1. South Korea Radiology Services Market Overview
14.2. South Korea Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Radiology Services Market

15.1. Western Europe Radiology Services Market Overview
15.2. Western Europe Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Radiology Services Market

16.1. UK Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Radiology Services Market

17.1. Germany Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Radiology Services Market

18.1. France Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Radiology Services Market

19.1. Italy Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Radiology Services Market

20.1. Spain Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Radiology Services Market

21.1. Eastern Europe Radiology Services Market Overview
21.2. Eastern Europe Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Radiology Services Market

22.1. Russia Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Radiology Services Market

23.1. North America Radiology Services Market Overview
23.2. North America Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Radiology Services Market

24.1. USA Radiology Services Market Overview
24.2. USA Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Radiology Services Market

25.1. Canada Radiology Services Market Overview
25.2. Canada Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Radiology Services Market

26.1. South America Radiology Services Market Overview
26.2. South America Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Radiology Services Market

27.1. Brazil Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Radiology Services Market

28.1. Middle East Radiology Services Market Overview
28.2. Middle East Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Radiology Services Market

29.1. Africa Radiology Services Market Overview
29.2. Africa Radiology Services Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Radiology Services Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Radiology Services Market, Segmentation By End User, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Radiology Services Market Competitive Landscape And Company Profiles

30.1. Radiology Services Market Competitive Landscape
30.2. Radiology Services Market Company Profiles
- 30.2.1. Radisphere National Radiology Group Inc.
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. Cybernet Manufacturing Inc.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. GE HealthCare
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. TeleDiagnostic Solutions Pvt. Ltd.
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. 4ways Healthcare Limite
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Global Radiology Services Market Competitive Benchmarking

32. Global Radiology Services Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Radiology Services Market

34. Radiology Services Market Future Outlook and Potential Analysis

34.1 Radiology Services Market In 2028 - Countries Offering Most New Opportunities
34.2 Radiology Services Market In 2028 - Segments Offering Most New Opportunities
34.3 Radiology Services Market In 2028 - Growth Strategies
- 34.3.1 Market Trend Based Strategies
- 34.3.2 Competitor Strategies

35. Appendix

35.1. Abbreviations
35.2. Currencies
35.3. Historic And Forecast Inflation Rates
35.4. Research Inquiries
35.5. The Business Research Company
35.6. Copyright And Disclaimer