U.K. Radiology Services Market – Industry Trends and Forecast to 2030

U.K. Radiology Services Market, By Type (Services, Product), Procedure (Conventional, Digital), Patient Age (Adults, Pediatric), Radiation Type (Diagnostics, Interventional Radiology), Application (Cardiology, Pelvic and Abdominal, Oncology, Neurology, Urology, Musculoskeletal, Gynecology, Dental, Others), Distribution Channel (Hospitals, Ambulatory Centers, Diagnostic Centers, Clinics) - Industry Trends and Forecast to 2030.

 U.K. Radiology Services Market Analysis and Size

Radiology products encompass a wide range of medical devices, equipment, and tools used in diagnostic and interventional radiology procedures. These products are critical in the detection, visualization, and treatment of various medical conditions. The U.K. radiology services market has been benefiting from advancements in imaging technologies, such as MRI, CT scans, and digital radiography. Collaboration between public and private healthcare providers has been increasing, which has been driving the expansion and accessibility of radiology services across the U.K. market.

Data Bridge Market Research analyses that the U.K. radiology services market which was USD 13.94 billion in 2022, is expected to reach USD 23.84 billion by 2030, and is expected to undergo a CAGR of 17.2% during the forecast period 2023 to 2030. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

U.K. Radiology Services Market Scope and Segmentation

Market Definition

Radiology has grown in importance as a diagnostic tool for various disorders and a potent tool for monitoring treatment and predicting outcomes. Radiology is a medical speciality that uses imaging technologies to diagnose and treat disorders that are visible inside the body. Radiologists use imaging techniques such as computed tomography (CT), X-ray, magnetic resonance imaging (MRI), positron emission tomography (PET), and ultrasound to treat and diagnose ailments.

U.K. Radiology Services Market Dynamics

Drivers

• Rising Burden of Targeted Diseases

The most significant driver driving this market's growth is the rising prevalence of age-related illnesses such as Alzheimer's, arthritis, Parkinson's, and dementia. The market's overall growth is likely to be accelerated by the expanding geriatric population. The demand for advanced imaging technologies, such as PET-CT scans and multipara metric MRI, has increased with the rise of targeted therapies. These imaging modalities provide detailed information about tumor characteristics and response to treatment.

• Rise in the Technological Advancements Department

The rapid innovation of the U.K. radiology services market, as well as rising research and development expenditures that result in new radiology equipment, are all contributing to increased radiology service utilisation. Furthermore, government initiatives to promote radiology technology as the best alternative for early diagnosis in a variety of chronic conditions are fuelling market expansion.

Opportunities

• Increase in the Healthcare Infrastructure

The increased expenditures for healthcare infrastructure development, particularly in developing nations, are likely to drive market expansion. Furthermore, rising health awareness among individuals and increased medical tourism would help to buffer the market's growth from 2023 to 2030. Growing demand for minimally invasive medical procedures and increased acceptance among doctors are expected to propel the market forward.

• Increasing Demand of Minimally Invasive Procedures

The increasing demand for minimally invasive procedures is a significant driver for growth in the field of radiology services. Minimally invasive procedures have gained popularity for their ability to provide less invasive and quicker alternatives to traditional surgical methods, with reduced patient discomfort and shorter recovery times.

Restrains/ Challenges

• Strict Regulations and Guidelines

Radiology services are subject to strict regulatory and accreditation requirements to ensure patient safety and quality of care. Adhering to these standards can be burdensome and costly. Radiology facilities and professionals are typically required to obtain the necessary licenses and accreditations. For example, radiologists must be registered with the General Medical Council (GMC) or the Health and Care Professions Council (HCPC). Radiology facilities may need accreditation from organizations like the Care Quality Commission (CQC) to ensure they meet specific quality and safety standards.

• Limited Reimbursement Scenarios

Changes in healthcare reimbursement models and pricing pressures can affect the profitability of radiology services. Reimbursement cuts and insurance complexities can impact the financial viability of these services. Private health insurance is an option for individuals who want access to private radiology services in the U.K. In this scenario, reimbursement is typically facilitated by private health insurance companies. Patients pay premiums to these insurers, and the insurers, in turn, reimburse the costs of radiology services provided by private healthcare providers.

• Economic Downturns and Budget Concerns

Economic downturns can lead to reduced healthcare budgets and decreased patient volumes, impacting the demand for radiology services. Patients may postpone non-urgent imaging procedures during economic uncertainty. The field of radiology heavily relies on advanced and often expensive equipment, such as MRI machines, CT scanners, and digital X-ray machines. Acquiring, maintaining, and upgrading this equipment can be a significant economic burden for healthcare providers, including the NHS. The cost of these technologies can strain budgets, and decision-makers need to carefully manage their investments.

This U.K. 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 U.K. 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.

U.K. Radiology Services Market Scope

The U.K. radiology services market is segmented on the basis of type, product, procedure, patient age, radiation type, application and end-user. 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

Procedure

• Conventional
• Digital

Patient Age

• Adults
• Pediatric

 Radiation Type

• Diagnostics
• Interventional Radiology

Application

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

End-User

• Hospitals
• Ambulatory Centers
• Diagnostic Centers
• Clinics
• Others

Healthcare Infrastructure Growth Installed Base and New Technology Penetration

The U.K. 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 U.K. radiology services market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the U.K. radiology services market. The data is available for historic period 2015-2020.

Competitive Landscape and U.K. Radiology Services Market Share Analysis

The U.K. 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 U.K. radiology services market.

Some of the major players operating in the U.K. radiology services market are:

• 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)