Radiology As A Service Global Market Outlook 2023-2032: Size And Growth Rate Analysis
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As per The Business Research Company’s Radiology As A Service Global Market Report 2023, The global radiology as a service market is expected to grow from $1.33 billion in 2022 to $1.63 billion in 2023 at a compound annual growth rate (CAGR) of 23.0%. The radiology as a service market size is expected to grow to $3.49 billion in 2027 at a CAGR of 20.9%.
What was the major driver in the radiology as a service market?
An increase in cancer incidence worldwide is projected to boost the expansion of radiology as a service market in the future. Cancer is a disease in which the body’s cells grow out of control and spread to other parts of the body. Medical imaging technology has revolutionised healthcare by allowing for earlier cancer identification and improved patient outcomes. As a result, an increase in the number of cancer cases would result in a demand for radiology imaging services, propelling the growth of radiology as a service. According to the National Cancer Institute, a federal body based in the United States that conducts cancer research and training, the global number of new cancer cases per year is expected to reach 29.5 million by 2040, with 16.4 million cancer-related deaths. As a result, the growing number of cancer patients is propelling the radiology as a service industry forward.
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What was the key trend in the radiology as a service market?
The primary trends gaining traction in the radiology-as-a-service industry are technological advancements. To maintain their market position, major players in the radiology-as-a-service sector are focusing on the introduction of innovative technology. For example, in January 2021, Nanox, a medical imaging technology company based in Israel, and USARAD, a teleradiology company based in the United States, launched an advanced radiology diagnostics service that combines over 300 expert radiologists with artificial intelligence decision support solutions to support medical diagnostics.
Which was the largest region in the radiology as a service market?
North America was the largest region in the radiology as a service market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the radiology as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
Who are the radiology as a service market prominent players?
Major players in the radiology as a service market are Philips Healthcare, GE Healthcare, Nano-X Imaging Ltd., USARAD Holdings Inc., Virtual Radiologic, Onrad Inc., RamSoft Inc., Telediagnostic Solutions Private Limited, Teleradiology Solutions, National Diagnostic Imaging, Real Radiology LLC, Telemedicine Clinic Ltd., Vesta Teleradiology, Ambra Health, Teleconsult Holding B.V, and Medica Group PLC.
Key radiology as a service market segments
The global radiology as a service market is segmented –
1) By Service Type: Teleradiology, Cloud-based Imaging IT Services, Consulting Services, Technology Management Services
2) By Technology: Computed Radiology, Direct Digital Radiology
3) By End-User: Hospitals, Diagnostic Imaging Centers, Radiology Clinics, Physician Offices, Nursing Homes
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