Radiology Market is estimated to be US$ 19144.6 million by 2030 with a CAGR of 8.90% during the forecast period

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Published Date: May 2023

Radiology Market accounted for US$ 8184.91 million in 2020 and is estimated to be US$ 19144.6 million by 2030 and is anticipated to register a CAGR of 8.90%. Digital radiology, often known as digital radiography, is a type of x-ray imaging that captures images using digital x-ray sensors rather than films. As a result, you can see a preview of the photographs right away, which saves time and increases your ability to digitally transfer images. Furthermore, because to lower radiation exposure, it is a favored diagnosis modality for a wide range of applications as compared to standard analogue x-ray. Furthermore, while novel technologies have been well-accepted in Western nations, digital radiology equipment have a huge user base in emerging economies such as India and China. Due to the introduction of dental x-ray and digital mammography, as well as wider usage of portable radiology systems throughout diagnostic centers, demand for digital Radiology Market equipment has expanded dramatically in recent years.

The report " Global Radiology Market, By Type (Interventional Radiology, Diagnostic Radiology), By Services (Fusion Imaging, X-Rays, Ultrasound, Computed Tomography (CT), Nuclear Medicine, Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI)), By End Use (Hospitals, Diagnostic Centers, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030’’

Key Highlights:

The Biograph Vision Quadra, a PET/CT scanner for clinical usage and translational research, obtained FDA authorization in 2021 from Siemens Healthineers (Germany).
At the Radiological Society of North America (RSNA) 2020 in December 2020, Samsung Electronics Co. Ltd displayed its premium diagnostic imaging solutions in ultrasound, digital radiography, and mobile computed tomography.
Canon Medical will release One-Beat Spectral Cardiac CT in November 2020. Deep learning sapectrum capabilities for cardiac tests are now available in the Aquilion ONE/PRISM Edition.

Analyst View:

Increased occurrences of chronic disorders among the growing population, rising preference for and need for minimally invasive procedures, rising levels of investment that will aid in the development of advanced and technological products, and provision of adequate training and safety are some of the factors that will likely boost the radiology market's growth in the forecast period. On the other hand, the increasing number of research activities and digitalization would increase numerous opportunities, resulting in the radiology market's rise during the projection period.

Browse 60 market data tables and 35 figures* through 140 slides and in-depth TOC on “*Global Radiology Market, By Type (Interventional Radiology, Diagnostic Radiology), By Services (Fusion Imaging, X-Rays, Ultrasound, Computed Tomography (CT), Nuclear Medicine, Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI)), By End Use (Hospitals, Diagnostic Centers, Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Trends, Analysis, and Forecast till 2030”

Key Market Insights from the report:

Global Radiology Market accounted for US$ 8184.91 million in 2020 and is estimated to be US$ 19144.6 million by 2030 and is anticipated to register a CAGR of 8.90%. The Global Radiology Market is segmented based on type, service, end-user and region.

Based on Type, Global Radiology Market is segmented into Interventional Radiology, Diagnostic Radiology.
Based on Service, Global Radiology Market is segmented into Fusion Imaging, X-Rays, Ultrasound, Computed Tomography (CT), Nuclear Medicine, Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI).
Based on End-User, Global Radiology Market is segmented into Hospitals, Diagnostic Centers, Others.
By Region, the Global Radiology Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Global Radiology Market:

The global radiology market is highly competitive and the prominent players in the market have adopted various strategies for garnering maximum market share which include collaboration, product launch, partnership, and acquisition. For instance, Venue Fit, a simplified and compact POCUS device, and an industry-first AI service for cardiology were released by GE Healthcare (US) in 2021. Major players operating in the radiology market include Agfa-Gevaert Group, Canon Inc., Carestream Health, Fujifilm Holdings Corporation, General Electric Company, Hitachi, Ltd., Konica Minolta, Inc., Koninklijke Philips N.V., Siemens Aktiengesellschaft, and Varian Medical Systems, Inc.

The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.

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Some Important Points Answered in this Market Report Are Given Below:

Explains an overview of the product portfolio, including product development, planning, and positioning
Explains details about key operational strategies with a focus on R&D strategies, corporate structure, localization strategies, production capabilities, and financial performance of various companies.
Detailed analysis of the market revenue over the forecasted period.
Examining various outlooks of the market with the help of Porter’s five forces analysis, PEST & SWOT Analysis.
Study on the segments that are anticipated to dominate the market.
Study on the regional analysis that is expected to register the highest growth over the forecast period