What Is The Current and Historic Market Size Analysis Of Radiology As A Service Market?
The radiology as a service market has seen considerable growth due to a variety of factors.
• In recent years, the market size for radiology as a service has seen impressive expansion. The forecast suggests an increase from $2.05 billion in 2024, to reach a higher figure of $2.51 billion in 2025, marking a compound annual growth rate (CAGR) of 22.3%.
The substantial growth during the previous period can be traced back to factors such as cost-effectiveness, improved operational efficiencies, surge in demand for imaging services, a strategic focus on core capabilities, advancements in imaging technology, and a heightened urgency for quick and precise diagnoses.
What Is The Forecast For The Radiology As A Service Market By 2029?
The radiology as a service market is expected to maintain its strong growth trajectory in upcoming years.
• Over the coming years, a significant upsurge is anticipated in the radiology as a service market. The market is projected to escalate to a value of $5.38 billion in 2029, growing at a CAGR of 21.1%.
Factors contributing to the forecasted increment in this period encompass continual focus on cost efficiency, increasing attention towards value-centric care, escalating need for remote and telehealth solutions, incorporation of artificial intelligence (AI), and a worldwide deficit of radiologists. Key trends expected during this period include emphasis on subspecialty reporting, the implementation of cybersecurity to safeguard image data, the adoption of mobile radiology solutions, collaboration with AI-based startups, and the integration of a value-focused care approach.
What Are the Critical Driver Fuelling the Radiology As A Service Market's Growth?
The anticipated surge in cancer in the future globally is predicted to stimulate the expansion of the radiology as a service market. Cancer characterizes uncontrolled cell growth in the body that invades other body parts. The revolution of medical imaging technology in healthcare is known for the early diagnosis of cancer and improved patient recovery. Consequently, the escalation in cancer cases will necessitate radiology imaging services, expected to spur the progress of the radiology as a service market. For example, the National Cancer Institute, a government agency based in the U.S., specialising in cancer research and training, forecasted in May 2024, the global cancer cases per annum could reach 29.9 million, and cancer-related deaths could amount to 15.3 million by 2040. As a result, the growing incidence of cancer is fuelling the radiology as a service market's growth.
How Is The Globa Radiology As A Service Market Divided Into Key Segments?
The radiology as a service market covered in this report is segmented –
1) By Service Type: Teleradiology, Cloud-based Imaging IT Services, Consulting Services, Technology Management Services
2) By Technology: Computed Radiology, Direct Digital Radiology
3) By End-User: Hospitals, Diagnostic Imaging Centers, Radiology Clinics, Physician Offices, Nursing Homes
Subsegments:
1) By Teleradiology: Remote Image Interpretation, Remote Reporting Services
2) By Cloud-Based Imaging IT Services: Cloud Storage Solutions, Cloud-Based Image Management
3) By Consulting Services: Workflow Optimization, Regulatory Compliance Consulting
4) By Technology Management Services: Equipment Maintenance, Imaging Software Support
Pre-Book The Radiology As A Service Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
What Trends Are Reshaping The Radiology As A Service Market?
The rise of technological advancements is a prominent trend observed within the radiology-as-a-service market. The impetus of the leading enterprises within this sector is the incorporation of cutting-edge technology to maintain their market capital. For illustration, Yellowcross Healthcare Commerce, a telemedicine practice management organization from India, instigated a consultancy service in February 2024. This service aids medical groups and healthcare facilities in strengthening their remote care competencies. Yellowcross synergizes with hospitals, clinics, medical groups, and entrepreneurial physicians across the United States to construct focused service offerings that address the lack of radiologists and provide specialty diagnostic services.
Who Are the Key Players in the Radiology As A Service Market?
Major companies operating in the radiology as a service market include:
• Siemens Healthineers AG
• Fujifilm Holdings Corporation
• Koninklijke Philips N.V.
• GE HealthCare Technologies Inc.
• Agfa-Gevaert N.V.
• Mednax Inc.
• RadNet Inc.
• National Diagnostic Imaging Teleradiology
• Alliance HealthCare Services Inc.
• US Radiology Specialists Inc.
• Nines Inc.
• Shields Health Solutions Holdings LLC.
• Virtual Radiologic
• Everlight Radiology
• Telemedicine Clinic Ltd.
• Medica Group plc
• Onrad Inc.
• RamSoft Inc.
• Real Radiology LLC
• Vesta Teleradiology
• Radiology Partners Inc.
• Ambra Health Company
• Nano-X Imaging Ltd.
• NightShift Radiology Inc.
• USARAD Holdings Inc.
• Telediagnostic Solutions Private Limited
• Teleconsult Holding BV
• Teleradiology Solutions Pvt Ltd.
• Bond Radiological Group
• Imaging Advantage LLC
• Imaging On Call LLC
What are the Regional Insights into the Radiology As A Service Market?
North America was the largest region in the radiology as a service market in 2024. Asia-Pacific is expected to be the fastest-growing region in the radiology as a service market share during the forecast period. The regions covered in the radiology as a service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
