Radiology services play a pivotal role in modern healthcare, encompassing various applications. These services provide accurate diagnostic imaging for conditions ranging from fractures to complex diseases. Features include cutting-edge equipment and techniques, enabling detailed visualization of internal structures. Their impact lies in early disease detection, precise treatment planning, and minimally invasive procedures. Radiology services benefit patients by reducing unnecessary interventions, improving treatment outcomes, and guiding interventions, making them indispensable tools in modern medical practice.
According to Data Bridge Market Research, the U.K. Radiology Services Market accounted for USD 1.33 billion in 2021 and is expected to reach USD 4.73 billion by 2029. The market is expected to grow with a CAGR of 17.2% in the forecast period of 2022 to 2029.
“Escalating burden of targeted diseases boosts the market’s growth”
The escalating burden of targeted diseases is a major catalyst driving the growth of the radiology services market. As the prevalence of conditions requiring advanced diagnostic imaging rises, the demand for radiology services surges. These services play a pivotal role in early detection, accurate diagnosis, and treatment planning. The increasing emphasis on precise medical imaging and timely intervention aligns with the market's expansion, offering improved patient outcomes and driving innovation in radiological technologies.
What restraints the growth of the U.K. radiology services market?
“Unfavorable reimbursement policies restraints the market’s growth”
Unfavorable reimbursement policies significantly restrain the growth of the radiology services market. Inadequate reimbursement rates for radiological procedures can lead to reduced profitability for healthcare providers, discouraging investments in state-of-the-art imaging equipment and technology upgrades. This limitation can hinder patient access to advanced diagnostics and delay the adoption of innovative imaging solutions.
Segmentation: U.K. Radiology Services Market
The U.K. radiology services market is segmented on the basis of type, product, procedure, patient age, radiation type, application, and distribution channel.
- On the basis of type, the radiology services market is segmented into services, products.
- On the basis of patient age, the radiology services market is segmented into adults, and pediatric.
- On the basis of procedure, the radiology services market is segmented into conventional, digital.
- On the basis of radiation type, the radiology services market is segmented into diagnostics, interventional radiology.
- On the basis of application, the radiology services market is segmented into cardiology, pelvic and abdominal, oncology, neurology, urology, musculoskeletal, gynecology, dental, others.
- On the basis of distribution channel, the radiology services market is segmented into hospitals, ambulatory centers, diagnostic centers, clinics.
Recent Developments
- In August 2021, GE Healthcare partnered with Amazon Web Services, an Amazon subsidiary known for its cloud computing solutions. This collaboration aims to deliver artificial intelligence (AI) and cloud-based imaging technologies, alongside clinical and operational data, to healthcare providers and hospitals. Through this alliance, the two companies will work together to offer advanced solutions that enhance medical services and data-driven insights in the healthcare industry.
- In Jun-2021, Royal Philips entered into a collaboration with Akumin, a prominent outpatient diagnostic imaging services provider. Under this partnership, the Philips Radiology Operations Command Center will be integrated into Akumin's outpatient imaging centers. Additionally, both companies will collaborate to establish clinical standards for Akumin's MR and CT imaging modalities. This joint effort aims to enhance the operational efficiency and imaging capabilities of Akumin's facilities for improved patient care.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/uk-radiology-services-market
The Prominent Key Players Operating in the U.K. Radiology Services Market Include:
- Hitachi, Ltd. (Japan)
- Siemens (Germany)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- GENERAL ELECTRIC (U.S.)
- Koninklijke Philips N.V. (Netherlands)
- Aspect Imaging Ltd. (Israel)
- Bruker (U.S.)
- AURORA HEALTHCARE US CORP (U.S.)
- FONAR Corp. (U.S.)
- ESAOTE SPA (Italy)
- Neusoft Corporation (China)
- TOSHIBA CORPORATION (Japan)
- Sanrad Medical Systems Private Limited (India)
- FUJIFILM Holdings Corporation (Japan)
- ONEX Corporation (Canada)
- Hologic, Inc., (U.S.)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd., (China)
- Quality Electrodynamics, LLC (U.S.)
- Shenzhen Anke High-tech Co., Ltd., (China)
- Magritek (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of U.K. radiology services market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: U.K. 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, U.K. vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
