Global Radiology Market Overview
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 equipment has expanded dramatically in recent years. The impact of the COVID-19 epidemic on the radiology market was demonstrated by the large reduction in hospital and healthcare services as a result of social distancing measures enacted by governments around the world. Furthermore, the COVID-19 pandemic impacted the worldwide economy and had a significant impact on the global functioning of general hospital treatment for non-COVID-19 patients. The entire impact of the COVID-19 pandemic on interventional radiology services in Canada was investigated in a study published in the SAGE Public Health Emergency Collection in August 2020. According to the survey, demand for acute interventional radiology services has decreased by 49.3 percent across Canada. During the pandemic, almost 88 percent of research participants reported a decline in elective interventional radiology services. Other countries dealing with COVID-19-related challenges in 2020, which have an impact on this market, are undergoing a similar scenario. The 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%.
Global Radiology Market Dynamics
Increasing occurrences of chronic disorders will drive the growth of the Market
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.
With age, the risk of developing diseases rises correspondingly. Nearly 80% of the elderly in the United States have at least one chronic illness, according to the Centers for Disease Control and Prevention (CDC). Furthermore, the American Medical Association (AMA) predicts that by 2030, at least 60% of people aged 65 and up would have more than one chronic illness. The demand for better healthcare facilities, new treatment choices, and drugs will rise as the population ages. The prevalence of age-related disorders such as Alzheimer's disease, Parkinson's disease, arthritis, and dementia, as well as cardiovascular disease and cancer, is predicted to rise as the worldwide geriatric population grows.
During the projection period, the radiology market is projected to be hampered by a lack of early diagnosis.
Global Radiology Market Segmentation
Segmentation:
Source: Prophecy Market Insights |Disclaimer: Data is only a representation. Actual data may vary in the final report.
The Global Radiology Market is segmented based on type, service, end-user and region.
On the basis of Type, the Global Radiology Market is segmented into Interventional Radiology, Diagnostic Radiology. Based on Service, the target market is segmented into Fusion Imaging, X-Rays, Ultrasound, Computed Tomography (CT), Nuclear Medicine, Positron Emission Tomography (PET), and Magnetic Resonance Imaging (MRI). Based on End-User, the target market is segmented into Hospitals, Diagnostic Centers, Others.
Regional Insights:
Source: Prophecy Market Insights
On region the Global Radiology Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The radiography market in North America accounted for the largest share in 2020, and this trend is projected to continue due to the widespread availability of radiography services. Furthermore, reductions in reimbursement for analogue and CR-based imaging are helping to drive the global radiography market in North America. The rise of the market in developing economies such as India, China, Malaysia, and others is fueled by the ever-changing life science industry. The research market in the United States is driven by the rising burden of chronic diseases as a result of changing lifestyles and the growing desire for less expensive interventions. Cardiac catheterization is a procedure that is commonly used to diagnose and treat a variety of heart conditions. In the United States, more than a million cardiac catheterizations and angiographic procedures are conducted each year.
Report Scope:
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Attribute |
Details |
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Base year for estimation |
2020 |
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Forecast period |
2020 – 2030 |
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Market representation |
Revenue in USD Million & CAGR from 2020 – 2029 |
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Market Segmentation |
By Type- Interventional Radiology, Diagnostic Radiology By Service– Fusion Imaging, X-Rays, Ultrasound, Computed Tomography (CT), Nuclear Medicine, Positron Emission Tomography (PET), Magnetic Resonance Imaging (MRI) By End-User- Hospitals, Diagnostic Centers, Others |
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Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
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Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2019 to 2029. For the purpose of this study, has segmented the Global Radiology Market report based on Type, Service, End-User and region.
Global Radiology Market, By Region:
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- North America
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- U.S.
- Canada
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- Europe
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- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
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- Asia Pacific
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- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
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- Latin America
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- Brazil
- Mexico
- Rest of Latin America
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- Middle East & Africa
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- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
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- North America
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Global Radiology Market Key Players
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.
Global Radiology Market Key Issues Addressed
Key Issues Addressed
Global Radiology Market Company Profile
- Agfa-Gevaert Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Canon Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Carestream Health
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Fujifilm Holdings Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hitachi, Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Konica Minolta, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Koninklijke Philips N.V.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
Global Radiology Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Radiology Strategies
- Key Questions this Study will Answer
- Market Snippet, By Type
- Market Snippet, By Service
- Market Snippet, By End-User
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Radiology Market, By Type, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Interventional Radiology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Diagnostic Radiology
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Radiology Market, By Service, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Fusion Imaging
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- X-Rays
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Ultrasound
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Computed Tomography (CT)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Nuclear Medicine
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Positron Emission Tomography (PET)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Magnetic Resonance Imaging (MRI)
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Radiology Market, By End-User, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Hospitals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Diagnostic Centers
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Others
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Radiology Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Type, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Service, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Agfa-Gevaert Group
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Canon Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Carestream Health
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Fujifilm Holdings Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- General Electric Company
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Hitachi, Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Konica Minolta, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Koninklijke Philips N.V.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Global Radiology Market is segmented based on type, service, end-user and region.
Increasing occurrences of chronic disorders is major factor driving the market.
During the forecast period, North America is expected to dominate the market.
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.