Global Radiology As A Service Market Surges To $1.63 Billion In 2023, Bolstered By Cancer Cases And Technological Advancements As Per The Business Research Company's Radiology As A Service Global Market Report 2023
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
LONDON, Aug. 17, 2023 (GLOBE NEWSWIRE) -- As per The Business Research Company’s analysis, the global radiology as a service market has exhibited robust growth, expanding from $1.33 billion in 2022 to $1.63 billion in 2023, with a commendable Compound Annual Growth Rate (CAGR) of 23.0%. The market is poised for even more impressive expansion in the years to come, with a projected growth to $3.49 billion in 2027 at a CAGR of 20.9%.
Rising Cancer Cases Fuel the Radiology as a Service Market Growth
A significant driving force behind the escalating growth of the radiology as a service market is the increase in the number of cancer cases globally. As cancer continues to impact lives across the globe, the demand for advanced diagnostic services is growing in tandem. Medical imaging technology has revolutionized healthcare by enabling early cancer detection and improved patient outcomes. Consequently, the surging number of cancer cases is generating a heightened demand for radiology imaging services, thus propelling the growth of the radiology as a service market. The National Cancer Institute predicts a global annual tally of 29.5 million new cancer cases, with 16.4 million cancer-related deaths by 2040, underlining the pressing need for advanced radiology services.
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https://www.thebusinessresearchcompany.com/report/radiology-as-a-service-global-market-report
Technological Advancements Drive Industry Trends
Technological advancements emerge as a pivotal trend gaining ground in the radiology-as-a-service market. Key players in the sector are strategically introducing innovative technologies to fortify their market standing. Notably, in January 2021, Nanox and USARAD collaborated to launch an advanced radiology diagnostics service, synergizing over 300 expert radiologists with artificial intelligence decision support solutions to enhance medical diagnostics.
Prominent Players in the Market
The radiology as a service market is home to major industry players, including Philips Healthcare, GE Healthcare, Nano-X Imaging Ltd., USARAD Holdings Inc., and more.
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Regional Insights
North America emerged as the largest region within the radiology as a service market in 2022. Looking ahead, Asia-Pacific is set to witness remarkable growth during the forecast period.
Segmentation of the Global Radiology as a Service Market
The global radiology as a service market is segmented based on service type, technology, and end-users:
- Service Type: Teleradiology, Cloud-based Imaging IT Services, Consulting Services, Technology Management Services
- Technology: Computed Radiology, Direct Digital Radiology
- End-User: Hospitals, Diagnostic Imaging Centers, Radiology Clinics, Physician Offices, Nursing Homes
Radiology As A Service Global Market Report 2023 by The Business Research Company provides insights on the radiology as a service market size, radiology as a service market segments, radiology as a service market trends, drivers and restraints, major competitors’ market positioning, revenues and market shares.
The Business Research Company has published over 6,500+ industry reports, covering more than 2,500+ market segments and 60 geographies. The reports draw on 1,500,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders.
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Teleradiology Global Market Report 2023
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