New York, July 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Radiology Services Global Market Report 2023" - https://www.reportlinker.com/p06457396/?utm_source=GNW
, 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 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.
Read the full report: https://www.reportlinker.com/p06457396/?utm_source=GNW
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