“Radiology Services Global Market Report 2023 ” 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.
- The market characteristics section of the report defines and explains the market.
- The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
- The forecasts are made after considering the major factors currently impacting the market. These include:
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
- Market segmentations break down the market into sub markets.
- The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
- The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
- The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
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 Radiology; 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
- 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
Major players in the radiology services market are Radisphere Radiology, 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, and Hologic Inc.
The global radiology services market is expected to grow from $5.90 billion in 2022 to $6.62 billion in 2023 at a compound annual growth rate (CAGR) of 12.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The radiology services market is expected to grow to $10.31 billion in 2027 at a CAGR of 11.7%.
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.
Radiology is a stream of medicine in which imaging technologies such as x-rays are used for the diagnosis and treatment of diseases. Radiology services include diagnostic and therapeutic services. Radiologists are medical professionals that focus on employing medical imaging (radiology) methods (exams and tests). It also includes a range of instruments and methods for identifying, examining, and treating problems.
North America was the largest region in the radiology services market in 2022. The regions covered in the radiology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of radiology services are stationary digital radiology systems and portable digital radiology systems. Stationary digital radiology systems are radiology systems that are fixed in one place and cannot be moved. The main procedures are conventional, and digital, and patient age includes adults and pediatric. These are used in applications such as cardiovascular imaging, chest imaging, dental imaging, mammography imaging, and orthopedic imaging by various end users such as hospitals, ambulatory centers, diagnostic centers, clinics and others.
The growing prevalence of age-associated diseases is driving the growth of the radiology services market. Age-related diseases are diseases that become more frequent as a person ages. It includes diseases such as Alzheimer's disease, arthritis, and dementia. Radiological tests such as MRI and computed tomography are used for the diagnosis of these diseases, and their increased prevalence increases the need for more diagnostic tests. For instance, according to the Alzheimer's Association, a US-based non-profit organization working to increase the treatment and awareness related to Alzheimer's disease, in 2022, more than 6 million US citizens were suffering from the disease, and the number is expected to increase to 13 million by 2050. 1 in 3 senior citizens die with Alzheimer's or any other dementia. The cost due to Alzheimer's totaled $321 billion in 2022, and it is expected to increase to $1 trillion by 2050. Therefore, the increasing prevalence of age-related disorders is driving the radiology services market forward.
Product innovations are a key trend gaining popularity in the radiology services market forward. Major companies in the market are introducing innovative products to sustain their position in the market. For instance, in December 2021, Sirona Medical, a US-based software company, launched its cloud radiology operating system, called RadOS. The new platform is powered by artificial intelligence, simplifies the workflow of radiologists, and improves user experience and productivity.
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). The acquisition strengthens the product offerings of IMEXHS in the fields of imaging and teleradiology services and provides a testbed for AI-based product development. RIMAB is a Columbia-based radiology services provider.
The countries covered in the radiology services market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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.
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.
Table of Contents
1. Executive Summary
2. Radiology Services Market Characteristics
3. Radiology Services Market Trends And Strategies
4. Radiology Services Market - Macro Economic Scenario
- 4.1. COVID-19 Impact On Radiology Services Market
- 4.2. Ukraine-Russia War Impact On Radiology Services Market
- 4.3. Impact Of High Inflation On Radiology Services Market
5. Radiology Services Market Size And Growth
- 5.1. Global Radiology Services Historic Market, 2017-2022, $ Billion
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints On The Market
- 5.2. Global Radiology Services Forecast Market, 2022-2027F, 2032F, $ Billion
- 5.2.1. Drivers Of The Market
- 5.2.2. Restraints On the Market
6. Radiology Services Market Segmentation
- 6.1. Global Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Stationary Digital Radiology Systems
- Portable Digital Radiology Systems
- 6.2. Global Radiology Services Market, Segmentation By Procedure, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Conventional
- Digital
- 6.3. Global Radiology Services Market, Segmentation By Patient Age, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Adults
- Pediatric
- 6.4. Global Radiology Services Market, Segmentation By Application, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- Cardiovascular Imaging
- Chest Imaging
- Dental Imaging
- Mammography Imaging
- Orthopedic Imaging
- 6.5. Global Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ 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, 2017-2022, 2022-2027F, 2032F, $ Billion
- 7.2. Global Radiology Services Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ 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, 2017-2022, 2022-2027F, 2032F, $ Billion
- 8.3. Asia-Pacific Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ 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, 2017-2022, 2022-2027F, 2032F,$ Billion
- 9.3. China Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion
10. India Radiology Services Market
- 10.1. India Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 10.2. India Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
11. Japan Radiology Services Market
- 11.1. Japan Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 11.2. Japan Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
12. Australia Radiology Services Market
- 12.1. Australia Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 12.2. Australia Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
13. Indonesia Radiology Services Market
- 13.1. Indonesia Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 13.2. Indonesia Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
14. South Korea Radiology Services Market
- 14.1. South Korea Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 14.2. South Korea Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ 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, 2017-2022, 2022-2027F, 2032F, $ Billion
- 15.3. Western Europe Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
16. UK Radiology Services Market
- 16.1. UK Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 16.2. UK Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
17. Germany Radiology Services Market
- 17.1. Germany Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 17.2. Germany Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
18. France Radiology Services Market
- 18.1. France Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 18.2. France Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
19. Eastern Europe Radiology Services Market
- 19.1. Eastern Europe Radiology Services Market Overview
- 19.2. Eastern Europe Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 19.3. Eastern Europe Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
20. Russia Radiology Services Market
- 20.1. Russia Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 20.2. Russia Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
21. North America Radiology Services Market
- 21.1. North America Radiology Services Market Overview
- 21.2. North America Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 21.3. North America Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
22. USA Radiology Services Market
- 22.1. USA Radiology Services Market Overview
- 22.2. USA Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 22.3. USA Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
23. South America Radiology Services Market
- 23.1. South America Radiology Services Market Overview
- 23.2. South America Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 23.3. South America Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
24. Brazil Radiology Services Market
- 24.1. Brazil Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 24.2. Brazil Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
25. Middle East Radiology Services Market
- 25.1. Middle East Radiology Services Market Overview
- 25.2. Middle East Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 25.3. Middle East Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
26. Africa Radiology Services Market
- 26.1. Africa Radiology Services Market Overview
- 26.2. Africa Radiology Services Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
- 26.3. Africa Radiology Services Market, Segmentation By End User, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
27. Radiology Services Market Competitive Landscape And Company Profiles
- 27.1. Radiology Services Market Competitive Landscape
- 27.2. Radiology Services Market Company Profiles
- 27.2.1. Radisphere Radiology
- 27.2.1.1. Overview
- 27.2.1.2. Products and Services
- 27.2.1.3. Strategy
- 27.2.1.4. Financial Performance
- 27.2.2. Cybernet Manufacturing Inc.
- 27.2.2.1. Overview
- 27.2.2.2. Products and Services
- 27.2.2.3. Strategy
- 27.2.2.4. Financial Performance
- 27.2.3. GE Healthcare
- 27.2.3.1. Overview
- 27.2.3.2. Products and Services
- 27.2.3.3. Strategy
- 27.2.3.4. Financial Performance
- 27.2.4. TeleDiagnostic Solutions Pvt. Ltd.
- 27.2.4.1. Overview
- 27.2.4.2. Products and Services
- 27.2.4.3. Strategy
- 27.2.4.4. Financial Performance
- 27.2.5. 4ways Healthcare Limited
- 27.2.5.1. Overview
- 27.2.5.2. Products and Services
- 27.2.5.3. Strategy
- 27.2.5.4. Financial Performance
28. Key Mergers And Acquisitions In The Radiology Services Market
29. Radiology Services Market Future Outlook and Potential Analysis
30. Appendix
- 30.1. Abbreviations
- 30.2. Currencies
- 30.3. Historic And Forecast Inflation Rates
- 30.4. Research Inquiries
- 30.5. The Business Research Company
- 30.6. Copyright And Disclaimer