Asia Pacific Radiology as a Service Market By Service (Teleradiology, Cloud-based Imaging IT Services, Consulting Services, and Technology Management Services), By End User (Hospitals, Diagnostic Imaging Centers, Radiology Clinics, Physician Offices, and Nursing Homes), By Country, Opportunity Analysis and Industry Forecast, 2021 - 2027
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Market Report Description
The Asia Pacific Radiology as a Service Market would witness market growth of 24.1% CAGR during the forecast period (2021-2027).
Radiology displays many advantages which make these devices highly crucial in the Healthcare infrastructure. The advantages of radiology include reduction in the requirement for exploratory surgery and high accuracy in identifying when a patient requires surgery. Additionally, radiology finds potential applications in different types of medical procedures like cardiology, oncology, urology, dental health, and others. Appropriate training and understanding of radiation safety and protection are highly crucial as this imaging procedure requires the utilization of radiation.
The growth of the market would be driven by the increasing investment of market players in R&D activities and the supportive government initiatives to develop advanced healthcare infrastructure. Additionally, one of the major growth catalysts for the market is the growing cases of chronic diseases such as diabetes, heart diseases, and others.
Supportive reimbursement policies in the Asian countries for different imaging modalities would support the growth of the regional radiology as a service market during the forecasting period. To leverage this scenario, public as well as private hospitals from China, are putting high investment in procuring advanced radiology equipment. Moreover, the surge in the number of patients in countries like China, Japan, and India who suffer from chronic diseases highly require radiology services for the detection and treatment of these diseases. Hence, these factors are set to open new growth avenues for the players operating in the regional radiology as a service market during the forecasting period.
The China market dominated the Asia Pacific Hospitals Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $117.3 million by 2027. The India market would witness a CAGR of 25% during (2021 - 2027). Additionally, The Japan market is anticipated to grow a CAGR of 25% during (2021 - 2027).
Based on Service, the market is segmented into Teleradiology, Cloud-based Imaging IT Services, Consulting Services, and Technology Management Services. Based on End User, the market is segmented into Hospitals, Diagnostic Imaging Centers, Radiology Clinics, Physician Offices, and Nursing Homes. Based on countries, the market is segmented into China, India, Japan, South Korea, Singapore, Malaysia, and Rest of Asia Pacific.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include General Electric (GE) Co. (GE Healthcare), Koninklijke Philips N.V., Medica Group PLC, Virtual Radiologic (Radiology Partners, Inc.), Teleconsult Europe, Vesta Teleradiology, Teleradiology Solutions, Inc., ONRAD, Inc., Ambra Health, and RamSoft, Inc.
Scope of the Study
Market Segments Covered in the Report:
- Cloud-based Imaging IT Services
- Consulting Services
- Technology Management Services
By End User
- Diagnostic Imaging Centers
- Radiology Clinics
- Physician Offices
- Nursing Homes
- South Korea
- Rest of Asia Pacific
Key Market Players
List of Companies Profiled in the Report:
- General Electric (GE) Co. (GE Healthcare)
- Koninklijke Philips N.V.
- Medica Group PLC
- Virtual Radiologic (Radiology Partners, Inc.)
- Teleconsult Europe
- Vesta Teleradiology
- Teleradiology Solutions, Inc.
- ONRAD, Inc.
- Ambra Health
- RamSoft, Inc.
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