Europe Radiology Services Market, By Type (Product and Services), Procedure (Digital and Conventional), Patient Age (Pediatric and Adults), Radiation Type (Diagnostics and Interventional Radiology), Application (Dental, Musculoskeletal, Pelvic And Abdominal, Gynecology, Cardiology, Urology, Neurology, Oncology and Others), End Users (Hospitals, Ambulatory Centers, Diagnostic Centers, Clinics), Country (Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Belgium, Italy and Rest of Europe) Industry Trends and Forecast To 2028
Market Analysis and Insights: Europe Radiology Services Market
The radiology services market is expected to gain market growth in the forecast period of 2021 to 2028. Data Bridge Market Research analyses that the market is growing with a CAGR of 13.1% in the forecast period of 2021 to 2028 and is expected to reach USD 117,896.79 million by 2028. Increase in the prevalence of chronic diseases acts as a driver for the Radiology services market growth.
Radiology is concerned with radiation for the treatment of diseases by using imaging techniques such as computed tomography (CT), X-rays, magnetic resonance imaging (MRI), positron emission tomography (PET), fusion imaging and ultrasound. These imaging techniques involve the use of radiation. Therefore, adequate training and understanding of radiation safety and protection are essential. The radiology services help healthcare providers see the inside structure of bodies and allow them to provide proper diagnosis and treatment. Doctors’ use different imaging techniques to operate the patient efficiently and these services help them insert wires, catheters, or another small tool inside the body. Radiology services help the doctor treat various diseases such as cancer, tumor, kidney problems, blockage of arteries, and liver problems among others.
Increase in the prevalence of chronic diseases, availability of reimbursement for radiology procedures, number geriatric population and recent technological developments in tele radiology are expected to drive the Europe radiology services market. However, the high cost of radiology devices and high-risk radiation causing diseases are projected to hamper the overall growth of Europe radiology services market.
The use of block chain in diagnostic imaging and contrast-based radiology solutions and mobile solutions would create huge opportunity for radiology services in Europe radiology services market. Lack of skilled manpower and radiologists coupled with legal and regulatory issues will create a major challenge in the growth of Europe radiology services market.
The radiology services market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the Radiology services market scenario contact Data Bridge Market Research for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
The radiology services market is segmented on the based on the type, procedure, patient age, radiation type, application and end users. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the radiology services market is segmented into product and services. In 2021, services are expected to dominate the market due to rise in demand for radiology services to diagnose various diseases and the treatment.
- On the basis of procedure, the radiology services market is segmented into digital and conventional. In 2021, conventional is expected to dominate the market due to increase in demand for first-line test for detecting any injury or disease.
- On the basis of patient age, the radiology services market is segmented into pediatric and adults. In 2021, adults segment is expected to dominate the market due to increase in the geriatric population and rise in prevalence of chronic diseases, cardiovascular disease, neurological disorders and other disease in adults.
- On the basis of radiation type, the radiology services market is segmented into diagnostics and interventional radiology. In 2021, diagnostics segment is expected to dominate the market due to increased demand for diagnostic radiology devices to detect and monitor disease in a person.
- On the basis of application, the radiology services market is segmented into dental, musculoskeletal, pelvic and abdominal, gynecology, cardiology, urology, neurology, oncology and others. In 2021, cardiology is expected to dominate the market due to increased prevalence of cardiovascular diseases in adults and pediatric and growing demand for radiology services to diagnose disease.
- On the basis of end users, the radiology services market is segmented into hospitals, ambulatory centers, diagnostic centers, clinics. In 2021, hospitals segment is expected to dominate the market due to rise in demand of radiology services in hospitals to diagnose and treat large number of patients.
The radiology services market is analysed and market size information is provided by the country, type, procedure, patient age, radiation type, application and end users as referenced above.
The countries covered in the radiology services market report are the Germany, France, Spain, Turkey, U.K., Netherlands, Russia, Switzerland, Poland, Belgium, Sweden, Denmark, Italy and rest of Europe.
Germany is expected to dominate the Europe radiology services market due to an increase in demand for radiology services to provide proper diagnosis and treatment to the patient, coupled with rise in number of launches by the manufacturers in the country.
Type segment in Germany region is expected to grow with the highest share in the forecast period of 2021 to 2028 because of increase in the geriatric population and rise in prevalence of chronic diseases, cardiovascular disease, neurological disorders and other disease in adults. The type segment in France is dominating the Europe market with highest CAGR owing to increased prevalence of cardiovascular diseases in adults and pediatric and growing demand for radiology services to diagnose disease. Italy is leading the growth of the Europe market for type segment is dominating in this country due to an increase in demand for radiology services to provide proper diagnosis and treatment to the patient.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Europe brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Growing Strategic Activities by Major Market Players to Enhance the Awareness for Radiology Services is Boosting the Market Growth of Radiology Services Market.
The radiology services market also provides you with detailed market analysis for every country growth in particular market. Additionally, it provides the detail information regarding the market players’ strategy and their geographical presence. The data is available for historic period 2010 to 2019.
Competitive Landscape and Radiology Services Market Share Analysis
Radiology services market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breadth, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to Radiology services market.
The major companies which are dealing in the radiology services are Koninklijke Philips N.V., Siemens Healthcare GmbH, GENERAL ELECITRIC COMPANY, Sonic Healthcare Limited, Medica Reporting Ltd., 4ways Healthcare Limited, Shimadzu Corporation, Everlight Radiology, InHealth Group, and Teleradiology Solutions among other domestic players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many contract, agreement and launches are also initiated by the companies’ worldwide which are also accelerating the Radiology services market.
- In March 2021, GENERAL ELECTRIC COMPANY has showcased its innovative Al, Digital and imaging solution at virtual ECR 2021 held in Austria.
- In November 2020, Koninklijke Philips N.V. has participated in the RSNA 2020 virtual event to feature Al-enabled, automated radiology workflow suit for clinical efficiency through the digitalization, integration and virtualization of radiology
Collaboration, product launch, business expansion, award and recognition, joint ventures and other strategies by the market player is enhancing the company footprints in the Radiology services market which also provides the benefit for organization’s profit growth.