The radiology services market encompasses a wide array of applications, ranging from diagnostic imaging and interventional radiology to teleradiology and radiation therapy. Currently, diagnostic imaging, which includes X-rays, MRIs, and CT scans, dominates the segment due to its pivotal role in disease diagnosis and treatment planning. This segment benefits from continuous technological advancements and is central to the healthcare system. However, teleradiology is also on the rise, with the potential for remote consultations and interpretations, facilitating access to radiological expertise globally.
According to Data Bridge Market Research, the New Zealand Radiology Services Market which was USD 359.53 million in 2022, is expected to reach USD 672.90 million by 2030 and is expected to undergo a CAGR of 8.15% during the forecast period of 2023-2030.
“Aging population boost the market’s growth”
The aging population serves as a significant driver in the radiology services market. As people age, their healthcare needs increase, leading to a higher demand for medical imaging services for diagnostic purposes and ongoing monitoring of chronic conditions. Conditions such as osteoporosis, cardiovascular diseases, and cancer become more prevalent with age, necessitating frequent radiological examinations. This demographic shift underscores the importance of radiology in addressing age-related health issues and contributes to the growth of the radiology services sector as healthcare providers strive to meet this demand.
What restraints the growth of the New Zealand radiology services market?
“Limited resources and capacity restraints the market’s growth”
Limited resources and capacity pose a significant restraint in the radiology services market. The increasing demand for radiological examinations often outpaces the available resources, leading to longer wait times for patients and potential delays in diagnosis and treatment. This constraint can strain healthcare systems and impact the quality of patient care.
Segmentation: New Zealand Radiology Services Market
The New Zealand radiology services market is segmented on the basis of procedure, patient age, radiation type, application, and end users.
- On the basis of procedure, the New Zealand radiology services market is segmented into conventional, and digital.
- On the basis of patient age, the New Zealand radiology services market is segmented into adults, pediatric.
- On the basis of radiation type, the New Zealand radiology services market is segmented into diagnostics, and interventional radiology.
- On the basis of application, the New Zealand radiology services market is segmented into cardiovascular, oncology, gynecology, neurology, urology, dental, pelvic and abdominal, musculoskeletal, and others.
- On the basis of end users, the New Zealand radiology services market is segmented into hospitals, ambulatory centers, diagnostic centers, clinics.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/new-zealand-radiology-services-market
Recent Developments
- In May 2021, Infratil, a New Zealand-based investment company, entered into a conditional agreement to acquire a majority share in Pacific Radiology, a diagnostic imaging service provider. The deal, valued at approximately NZ$350 million (around $252 million), aimed to solidify Infratil's presence in the healthcare sector.
- In September 2021, Nuance Communications, a US-based developer of conversational AI tools for healthcare, launched its AI-enhanced radiology solutions, the PowerScribe One reporting platform and mPower Clinical Analytics, in the Australia and New Zealand markets, expanding their reach to healthcare professionals in the region.
The Prominent Key Players Operating in the New Zealand Radiology Services Market Include:
- Siemens (Germany)
- 4ways Limited (U.K.)
- MEDNAX, Inc. (U.S.)
- Everlight Radiology (U.K.)
- RadNet, Inc. (U.S.)
- Medica Reporting Ltd. (U.K.)
- ONRAD, Inc. (U.S.)
- UNILABS (Switzerland)
- Radiology Reports online (U.S.)
- GE healthcare (U.S.)
- Koninklijke Philips N.V. (Netherlands)
Above are the key players covered in the report, to know about more and exhaustive list of New Zealand radiology services market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: New Zealand Radiology Services Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
