Europe Radiology Services Market – Industry Trends and Forecast to 2031

Europe Radiology Services Market, By Type (Product and Services), Location (Inshore, Offshore, and In-house), Modality (X-ray, CT, MRI, Ultrasound, Mammography, and PET-CT), 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, and Clinics) – Industry Trends and Forecast to 2031.

Europe Radiology Services Market Analysis and Size

In the radiology services market, cutting-edge technology transforms medical diagnostics, improving patient care and outcomes. From digital imaging to AI-powered analysis, services optimize workflow efficiency, enhance accuracy, and expedite diagnoses. With advancements in modalities and telemedicine, radiology continues to play a pivotal role in healthcare innovation and patient-centric care.

Data Bridge Market Research analyses that the Europe radiology services market, which was USD 63.70 billion in 2023, is expected to reach USD 170.54 billion by 2031, and is expected to undergo a CAGR of 13.1% during the forecast period of 2024 to 2031. This indicates that the market value. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Europe Radiology Services Market Scope and Segmentation

Market Definition

Radiology services encompass a range of medical imaging techniques vital for diagnosis and treatment. Utilizing X-rays, MRI, CT scans, and ultrasound, radiologists interpret images to detect diseases and injuries. These services aid in assessing internal conditions, guiding medical interventions, and monitoring patient health with precision and proficiency.            

Europe Radiology Services Market Dynamics

Drivers

• Aging Population Create Demand for Imaging Studies

As the population ages, there is a surge in age-related illnesses, necessitating frequent radiological imaging for diagnosis and management. Conditions such as osteoporosis, arthritis, and cancer screening are common among the elderly, driving the demand for imaging studies. This trend underscores the vital role of radiology in addressing healthcare needs amidst demographic shifts.

• Government Initiatives and Investments for Technology Integration

Government initiatives to enhance healthcare infrastructure and access, coupled with investments in technology integration, are pivotal drivers for the radiology services market. These efforts aim to improve healthcare delivery, promote early diagnosis, and expand services, fostering increased demand for radiological imaging solutions and fueling market growth.

Opportunities

• Growing Demand for Minimally Invasive Procedures

The surge in demand for minimally invasive procedures, including image-guided surgeries, interventional radiology, and pain management techniques, fuels the expansion of the radiology services market. Radiology's pivotal role in these procedures, offering precise guidance and reduced patient discomfort, drives its increasing adoption and market growth.

• Rising Adoption of Telemedicine and Teleradiology in Areas Lacking On-Site Specialists

Telemedicine and teleradiology services enable remote interpretation and consultation, providing access to radiological expertise in underserved regions. This enhances healthcare efficiency by facilitating timely diagnosis and treatment planning, especially in areas lacking on-site specialists. Such innovations bridge gaps in healthcare access, improving patient outcomes and optimizing resource utilization in the radiology domain. 

Restraints/Challenges

• Staff Shortages Leads to Delays in Diagnoses

The global shortage of radiologists results in heightened workloads, longer turnaround times, and potential quality compromises in reporting and interpretation. This undermines efficiency, delays diagnoses, and may erode patient trust. Ultimately, it hampers the radiology services market by impeding timely healthcare delivery and diminishing overall service quality. 

• Data Security Risks in Medical Imaging

Data security risks in medical imaging, including unauthorized access and ransomware threats, can undermine patient trust, disrupt operations, and lead to regulatory penalties. This erodes market confidence, impedes digital radiology adoption, and imposes additional costs for cybersecurity measures, hindering the growth and stability of the radiology services market. 

This Europe radiology services market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Europe radiology services market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

Recent Developments

• In May 2022, GE Healthcare and Alliance Medical forged a partnership to develop a digital solution aimed at enhancing productivity in hospital radiology departments across the U.K., demonstrating their dedication to driving innovation and improving patient care in the radiology services market
• In December 2021, Radiobotics and Virtual Radiologic expanded their collaboration to develop software algorithms, aiming to improve bone fracture X-ray investigations in the radiology services market. This partnership underscores their commitment to enhancing radiological diagnostics for better patient outcomes through technological advancements
• In August 2021, GE Healthcare and Amazon Web Services (AWS) partnered to deliver AI and cloud-based imaging solutions, advancing patient care and operational efficiency in the radiology services market. This collaboration empowers hospitals and healthcare vendors with innovative technologies to enhance diagnostic imaging processes
• In Jun-2021, Royal Philips and Akumin initiated the implementation of the Philips Radiology Operations Command Center in Akumin's outpatient imaging centers, aiming to elevate operational efficiency and care quality within the radiology services market. Their collaboration focuses on setting clinical standards for MR and CT imaging modalities

Europe Radiology Services Market Scope

The Europe radiology services market is segmented on the basis of type, location, modality, procedure, patient age, radiation type, application and end users. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Type

• Product
• Services
• Tele-radiology Reading Platform Services
• Remote Scanning Services
• Consulting Services
• Staffing Services
• Other IT Services

 Location

• Inshore
• Offshore
• In-house

 Modality

• X-ray
• CT
• MRI
• Ultrasound
• Mammography
• PET-CT

 Procedure

• Digital
• Conventional

 Patient Age

• Pediatric
• Adults

 Radiation Type

• Diagnostics
• Interventional Radiology

 Application

• Dental
• Musculoskeletal
• Pelvic and Abdominal
• Gynecology
• Cardiology
• Urology
• Neurology
• Oncology
• Others

 End Users

• Hospitals
• Ambulatory Centers
• Diagnostic Centers
• Clinics

Europe Radiology Services Market Regional Analysis/Insights

The Europe radiology services market is analysed and market size insights and trends are provided by country, type, location, modality, procedure, patient age, radiation type, application and end users as referenced above.

The countries covered in the Europe radiology services market report are Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe.

Germany is expected to dominate the Europe radiology services market, driven by growing demand for accurate diagnosis and treatment, alongside an increase in manufacturer launches within the country. This trend underscores Germany's pivotal role in advancing radiology services across Europe.

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 assuch assuch as down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Healthcare Infrastructure growth Installed base and New Technology Penetration

The Europe radiology services market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for Europe radiology services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the Europe radiology services market. The data is available for historic period 2016-2021.

Competitive Landscape and Europe Radiology Services Market Share Analysis

The Europe 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, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to Europe radiology services market.

Some of the major players operating in the Europe radiology services market are:

• Hitachi, Ltd. (Japan)
•  CANON MEDICAL SYSTEMS CORPORATION (Japan)
•  GE HealthCare. (U.S.)
• Koninklijke Philips N.V. (Netherlands)
•  Aspect Imaging Ltd. (Israel )

AURORA HEALTHCARE US CORP (U.S.)

•  FONAR Corp. (U.S.)
•  Neusoft Corporation (China)
•  Toshiba International 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)