Healthcare

Radiology Services Market Analysis (2019-2026) and Forecast: RadNet, Inc., Koninklijke Philips N.V., Sonic Healthcare, Medica Reporting Ltd., ONRAD, Inc., UNILABS

Global Radiology Services Market report provides the segmentation of the global market on the basis of technology, application, product, and region. Each segment is detailed through a chapter that has been worded with careful thought to the advancing market dynamics. This market research report also includes a chapter on companies which includes their profiles. This chapter details the progress made by the companies so far and their expansion plans for the near future. The Radiology Services Market report includes a thorough analysis of the potential of the market in the present and future prospects from various angles.

Global Radiology Services Market is projected to register a healthy CAGR of 12.5% in the forecast period of 2019 to 2026. Global Radiology Services Market By Type (Product, Services), Procedure (Conventional, Digital), Patient Age(Adults, Pediatric), Radiation Type(Diagnostics, Interventional Radiology), Application (Cardiovascular, Oncology, Gynecology, Neurology, Urology, Dental, Pelvic and Abdominal, Musculoskeletal, Others), End Users (Hospitals, Ambulatory Centers, Diagnostic Centers, Clinics), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) – Industry Trends and Forecast to 2026

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Some of the major players operating in this market are Siemens, 4ways Limited, MEDNAX, Inc., Everlight Radiology, RadNet, Inc., Koninklijke Philips N.V., Sonic Healthcare, Medica Reporting Ltd., ONRAD, Inc., UNILABS, Radiology Reports online, Teleradiology Solutions., InHealth Group, Concordmedical, Alliance HealthCare Services, Spectrum Health, Premier Radiology, Global Diagnostics, Envision Radiology, RamSoft, Inc., GE healthcare and among others.

Radiology is the medical specialty for the diagnoses and treatment of injury by using imaging technique like computed tomography (CT), X-rays, magnetic resonance imaging (MRI), positron emission tomography (PET), fusion imaging and ultrasound, These imaging techniques involve the use of radiation, therefore, adequate training and understanding of radiation safety and protection is important. Various companies are engaged in radiology services such KONINKLIJKE PHILIPS N.V, Siemens Healthineers and GE healthcare among others. The continuous development of the radiology market in developing and developed countries and growing research and development expenditure to develop innovative radiology equipment’s are all enhancing the utilization of the radiology services. The advanced radiology services and their preferences by the radiology industries, leading the major manufactures to expand their business for the development of services. For instance In March 2019, KONINKLIJKE PHILIPS N.V has acquired Carestream Health Inc.’s (U.S.) Healthcare Information Systems business.

Segmentation: Global Radiology Services Market

Global radiology services market is segmented into six notable segments which are basis of type, procedure, patient age, radiation type, application, and end-user.

  • On the basis of type, the market is segmented into product and services
    • In 2019, KONINKLIJKE PHILIPS N.V.(Netherlands) launched cloud-based radiology, teleradiology services. The major focus of this launch is to expand radiology solutions and to reduce shortage of radiologists as it is allow radiologists to do CT, MR, and X-ray without demanding them to be in the same location as the patient.
  • On the basis of procedure, the market is segmented digital and conventional
    • In March 2019, Siemens Healthineers launched RTIS icono biplane angiography system at the 2019 European Congress of Radiology Austria. The major focus of this launch is to improve improve 2D and 3D imaging and radiation as it can be switch into 2D and volumetric modes.
  • On the basis of patient age, the market is segmented into pediatric and adults
  • On the basis of radiation type, the market is segmented into diagnostics and interventional radiology
  •  On the basis of application, the market is segmented into dental, musculoskeletal, pelvic and abdominal, gynecology, cardiology, urology, neurology, oncology and others
    • In July 2017, Unilabs acquired Base Holding SGPS (Portugal). This acquisition is aiming towards market penetration in Portugal. As Base Holding is leading diagnostics in Portugal in clinical analysis, radiology and cardiology by owning 14 laboratories, 44 Radiology units and 7 Cardiology units.
  • On the basis of end users, the market is segmented into hospitals, ambulatory centers, diagnostic centers, clinics.
    •  In January 2017, MEDNAX, Inc. acquired Radiology Alliance PC, (US). The major focus of this acquisition is to expand business in radiology as Radiology Alliance PC is one of largest radiology group in Tennessee. The partnership will allow radiology alliance to maintain the strong relationship with their hospital partners. It will also provide the IT platform and remote technology for their expansion.

Recent Developments:

  • In March 2019, KONINKLIJKE PHILIPS N.V has acquired Direct Radiology (U.S.). The major advantage of this acquisition is company has entered in radiology services as Direct Radiology is tele radiology platform. With this acquisition company has 60​​​​​​​ full time radiology’s.
  • In March 2019, Siemens Healthineers received FDA Approval for Mobilett Elara Max mobile X-ray system. It offers complete information technology (IT) security and secures the system. Major advantage of this approval is to provide cyber security threats and efficiency as its data can be excess from anywhere.
  • In February 2019, RadNet. Acquired Kern Radiology Medical Group, Inc. (U.S.) Imaging operations. The main focus of this is to expand their business in radiology as radiology medical group owes five imaging centers in bakersfield, California.

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Table of Contents:

1 INTRODUCTION

1.1 OBJECTIVES OF THE STUDY

1.2 MARKET DEFINITION

1.3 OVERVIEW OF GLOBAL RADIOLOGY SERVICES MARKET

1.4 CURRENCY AND PRICING

1.5 LIMITATION

1.6 MARKETS COVERED

2 MARKET SEGMENTATION

2.1 MARKETS COVERED

2.2 GEOGRAPHICAL SCOPE

2.3 YEARS CONSIDERED FOR THE STUDY

2.4 CURRENCY AND PRICING

2.5 DBMR TRIPOD DATA VALIDATION MODEL

2.6 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS

2.7 DBMR MARKET CHALLENGE MATRIX

2.8 MULTIVARIATE MODELING

2.9 PRODUCTS LIFELINE CURVE

2.1 SECONDARY SOURCES

2.11 ASSUMPTIONS

3 MARKET OVERVIEW

3.1 DRIVERS

3.1.1 INCREASING PREVALENCE OF CHRONIC DISEASES

3.1.2 RECENT TECHNOLOGICAL DEVELOPMENTS IN TELE RADIOLOGY

3.1.3 AVAILABILITY OF REIMBURSEMENT FOR RADIOLOGY PROCEDURES

3.1.4 INCREASING NUMBER GERIATRIC POPULATION

3.2 RESTRAINTS

3.2.1 HIGH COST OF RADIOLOGY DEVICES

3.2.2 HIGH RISK RADIATION CAUSING DISEASES

3.3 OPPORTUNITIES

3.3.1 USE OF BLOCKCHAIN IN DIAGNOSTIC IMAGING

3.3.2 CONTRACT-BASED RADIOLOGY SOLUTIONS AND MOBILE SOLUTIONS:

3.3.3 INCREASING AWARENESS IN EMERGING COUNTRIES:

3.4 CHALLENGES

3.4.1 LACK OF SKILLED MANPOWER AND RADIOLOGISTS

3.4.2 LEGAL AND REGULATORY ISSUES

4 EXECUTIVE SUMMARY

5 PREMIUM INSIGHTS

6 GLOBAL RADIOLOGY SERVICES MARKET, BY TYPE

6.1 OVERVIEW

6.2 SERVICES

6.3 PRODUCT

6.3.1 STATIONARY DIGITAL RADIOLOGY SYSTEMS

6.3.2 PORTABLE DIGITAL RADIOLOGY SYSTEMS

7 GLOBAL RADIOLOGY SERVICES MARKET, BY PROCEDURE

7.1 OVERVIEW

7.2 CONVENTIONAL

7.2.1 ULTRASOUND

7.2.2 X-RAY IMAGING

7.3 DIGITAL

7.3.1 MAGNETIC RESONANCE IMAGING (MRI)

7.3.2 COMPUTED TOMOGRAPHY (CT) SCAN

7.3.3 MAMMOGRAPHY

7.3.4 NUCLEAR IMAGING (SPECT/PET)

8 GLOBAL RADIOLOGY SERVICES MARKET, BY PATIENT AGE

8.1 OVERVIEW

8.2 ADULTS

8.3 PEDIATRIC

9 GLOBAL RADIOLOGY SERVICES MARKET, BY RADIATION TYPE

10 GLOBAL RADIOLOGY SERVICES MARKET, BY APPLICATION

11 GLOBAL RADIOLOGY SERVICES MARKET, BY END USERS

12 RADIOLOGY SERVICES MARKET, BY GEOGRAPHY

13 GLOBAL RADIOLOGY SERVICES MARKET, COMPANY LANDSCAPE

14 COMPANY PROFILES

15 SWOT ANALYSIS

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