LONDON, Sept. 29, 2022 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the radiology-as-a-service market, an increase in the number of cancer cases globally is expected to propel the growth of the radiology as a service market moving forward. Cancer is a disease in which body cells grow out of control and spread to other areas of the body. Medical imaging technology has transformed healthcare by enabling early cancer detection and better patient outcomes. Hence, increasing number of cancer cases would lead to demand for radiology imaging services, which is expected to propel the growth of radiology as a service.
For example, according to the National Cancer Institute, a US government agency for cancer research and training, the global number of new cancer cases per year is expected to reach 29.5 million, with 16.4 million cancer-related deaths. by 2040. Hence, the increasing number of cancer cases is driving the growth of the radiology as a service market.
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The size of the global radiology-as-a-service market is expected to grow from $1.06 billion in 2021 to $1.32 billion in 2022 at a compound annual growth rate (CAGR) of 25%. The growth of the global radiology-as-a-service market is expected to reach $2.83 billion in 2026 at 21% CAGR.
Technological advancements are the major trends that are gaining popularity in the radiology as a service market. Large companies operating in the radiology-as-a-service industry focus on introducing new technologies to maintain their position in the market. For example, in January 2021, Nanox, an Israel-based medical imaging technology company, and USARAD, a US-based teleradiology company, launched an advanced radiology diagnostic service that combines more than 300 expert radiologists with artificial intelligence decision support solutions to support medical diagnostics. .
Key Players of Radiology as a Service Market include Philips Healthcare, GE Healthcare, Nano-X Imaging Ltd, USARAD Holdings Inc., Virtual Radiologic, Onrad Inc, RamSoft Inc., Telediagnostic Solutions Private Limited, Teleradiology Solutions, National Diagnostic Imaging, Real Radiology LLC, Telemedicine Clinic Ltd., Vesta Teleradiology, Ambra Health, Teleconsult Holding BV and Medica Group PLC.
The global radiology as a service market is segmented by teleradiology service type, cloud-based imaging IT services, consulting services, technology management services; by technology in computerized radiology, direct digital radiology; by the end user in hospitals, diagnostic imaging centers, radiology clinics, medical offices, nursing homes.
North America was the greater region in the radiology-as-a-service market in 2021. Asia Pacific should be the fastest growing region in the global Radiology as a Service Market research report over the forecast period. Regions covered in the Global Radiology as a Service market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The Global Radiology as a Service Market Report 2022 – Global Market Size, Trends and Forecasts 2022-2026 is part of a series of new reports by The Business Research Company that provide insights into the radiology market in as a Service, analyze and forecast market size and growth for overall market, Radiology as a Service market segments and geographies, Radiology as a Service market trends, Radiology-as-a-Service Market Drivers, Radiology-as-a-Service Market Constraints, Key Competitor Revenues, Profiles and Market Shares in 1000+ industry reports, covering over 2 500 market segments and 60 geographical areas.
The report also gives an in-depth analysis of the impact of COVID-19 on the market. The reports are based on 150,000 datasets, extensive secondary research and proprietary insights from interviews with industry leaders. A highly experienced and expert team of analysts and modellers provide market analysis and forecasts. The reports identify key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
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