Medical Imaging Outsourcing Market Size, Global Industry Share, Growth, Trends Analysis and Forecast 2020 - 2027

The global Medical Imaging Outsourcing market size is expected to be worth around US$ 9.31 billion by 2027, according to a new report by Vision Research Reports.

The global Medical Imaging Outsourcing market size was valued at US$ 6.48 billion in 2019 and is anticipated to grow at a CAGR of 4.8% during forecast period 2020 to 2027.

Growing demand for early diagnosis of chronic diseases, increasing demand for advanced medical imaging products, technological advancements in the imaging services, and high cost of imaging modalities are driving the market for medical imaging outsourcing. Diagnostic imaging is one of the most powerful and affordable ways to enhance the process of treatment. It assists caregivers to see the exact effect of their treatment on the affected part of the patient and plan further course of action. It also provides quality diagnostic support and aids in making critical treatment-specific decisions. This increases the need for outsourcing medical imaging services to an experienced service provider.

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Growing demand for early diagnosis of chronic diseases as well as improvement of the quality of care with rapid and precise reporting capabilities are propelling the market growth.

Radiology is increasingly being outsourced due to its complex operation, funding challenges, and interest expressed by radiologists and outside vendors.

Besides, the scary operational and functional challenges of transitioning radiology from analog to the digital world make funding and management of radiology even more challenging, which is more likely to create demand for diagnostic services.

Device Insights

The computed tomography segment dominated the market for medical imaging outsourcing with a share of 55.9% in 2019. This is mainly due to the cost factor as they are usually less expensive as compared to MRI. Besides, they are present in most emergency departments and are mainly used in case of emergency cases due to the time constraints, for instance, in cases of stroke or trauma.

MRI is anticipated to expand at the fastest CAGR of 5.0% over the forecast period. These devices are more expensive and provide minute details, for instance, in case of cancer and causes of neurological disorders. They are best at showing ligaments, tendons, nerves, and spinal cords, hence boosting the segment growth.

Regional Insights

North America led the medical imaging outsourcing market with a share of 41.6% in 2019 and is anticipated to maintain its lead over the forecast period. This is due to the presence of well-established healthcare infrastructure and increasing healthcare expenditure by people.

Asia Pacific is anticipated to witness second fastest growth after North America over the forecast period owing to the presence of a large undiagnosed patient population, rapid urbanization, increase in disposable income, and raising awareness about early diagnosis of chronic diseases. Besides, rising adoption of medical imaging technologies is anticipated to drive the demand for medical imaging outsourcing in this region.

Lack of availability of timely diagnostic services during night hours and emergencies create problems for physicians. Furthermore, the Health Care Financing Administration (HCFA) in the U.S. makes it mandatory to provide continuous medical services in every hospital. Therefore, by outsourcing radiology reporting to Europe, Australia, and some Asian countries, such as India, the hospitals in the U.K., U.S., and Singapore can be assured of competent and timely professional help. Instant availability of diagnostic services that are tremendously important during medical emergencies is the biggest advantage that is offered by outsourcing, hence driving the market for medical imaging outsourcing.

Key Players

• Alliance Medical
• Flatworld Solutions Pvt. Ltd.
• MetaMed
• NORTH AMERICAN SCIENCE ASSOCIATES INC.
• Diagnostic Imaging Services
• Ankarad Medical Imaging Systems
• KAYI Healthcare
• Shields MRI
• PROSCAN IMAGING
• RadNet, Inc.

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Market Segmentation

Medical Imaging Outsourcing Device Outlook

• Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Positron Emission Tomography (PET)

Medical Imaging Outsourcing Regional Outlook

• North America
  • U.S.
  • Canada
• Europe
  • U.K.
  • Germany
  • France
  • Italy
  • Spain
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • South Korea
• Latin America
  • Brazil
  • Mexico
  • Argentina
  • Colombia
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE

The Medical Imaging Outsourcing market research report covers definition, classification, product classification, product application, development trend, product technology, competitive landscape, industrial chain structure, industry overview, national policy and planning analysis of the industry, the latest dynamic analysis, etc., and also includes major. The study includes drivers and restraints of the global market. It covers the impact of these drivers and restraints on the demand during the forecast period. The report also highlights opportunities in the market at the global level.

The report provides size (in terms of volume and value) of Medical Imaging Outsourcing market for the base year 2019 and the forecast between 2020 and 2027. Market numbers have been estimated based on form and application. Market size and forecast for each application segment have been provided for the global and regional market.

This report focuses on the global Medical Imaging Outsourcing market status, future forecast, growth opportunity, key market and key players. The study objectives are to present the Medical Imaging Outsourcing market development in United States, Europe and China.

It is pertinent to consider that in a volatile global economy, we haven’t just conducted Medical Imaging Outsourcing market forecasts in terms of CAGR, but also studied the market based on key parameters, including Year-on-Year (Y-o-Y) growth, to comprehend the certainty of the market and to find and present the lucrative opportunities in market.

In terms of production side, this report researches the Medical Imaging Outsourcing capacity, production, value, ex-factory price, growth rate, market share for major manufacturers, regions (or countries) and type.

In terms of consumption side, this report focuses on the consumption of Medical Imaging Outsourcing by regions (countries) and application.

Buyers of the report will have access to verified market figures, including global market size in terms of revenue and volume. As part of production analysis, the authors of the report have provided reliable estimations and calculations for global revenue and volume by Type segment of the global Medical Imaging Outsourcing market. These figures have been provided in terms of both revenue and volume for the period 2016 to 2027. Additionally, the report provides accurate figures for production by region in terms of revenue as well as volume for the same period. The report also includes production capacity statistics for the same period.

With regard to production bases and technologies, the research in this report covers the production time, base distribution, technical parameters, research and development trends, technology sources, and sources of raw materials of major Medical Imaging Outsourcing market companies.

Regarding the analysis of the industry chain, the research of this report covers the raw materials and equipment of Medical Imaging Outsourcing market upstream, downstream customers, marketing channels, industry development trends and investment strategy recommendations. The more specific analysis also includes the main application areas of market and consumption, major regions and Consumption, major Chinese producers, distributors, raw material suppliers, equipment providers and their contact information, industry chain relationship analysis.

The research in this report also includes product parameters, production process, cost structure, and data information classified by region, technology and application. Finally, the paper model new project SWOT analysis and investment feasibility study of the case model.

Overall, this is an in-depth research report specifically for the Medical Imaging Outsourcing industry. The research center uses an objective and fair way to conduct an in-depth analysis of the development trend of the industry, providing support and evidence for customer competition analysis, development planning, and investment decision-making. In the course of operation, the project has received support and assistance from technicians and marketing personnel in various links of the industry chain.

The Medical Imaging Outsourcing 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 Medical Imaging Outsourcing market.

Prominent players in the market are predicted to face tough competition from the new entrants. However, some of the key players are targeting to acquire the startup companies in order to maintain their dominance in the global market. For a detailed analysis of key companies, their strengths, weaknesses, threats, and opportunities are measured in the report by using industry-standard tools such as the SWOT analysis. Regional coverage of key companies is covered in the report to measure their dominance. Key manufacturers of Medical Imaging Outsourcing market are focusing on introducing new products to meet the needs of the patrons. The feasibility of new products is also measured by using industry-standard tools.

Key companies are increasing their investments in research and development activities for the discovery of new products. There has also been a rise in the government funding for the introduction of new Medical Imaging Outsourcing market. These factors have benefited the growth of the global market for Medical Imaging Outsourcing. Going forward, key companies are predicted to benefit from the new product launches and the adoption of technological advancements. Technical advancements have benefited many industries and the global industry is not an exception.

New product launches and the expansion of already existing business are predicted to benefit the key players in maintaining their dominance in the global market for Medical Imaging Outsourcing. The global market is segmented on the basis of region, application, en-users and product type. Based on region, the market is divided into North America, Europe, Asia-Pacific, Latin America and Middle East and Africa (MEA).

In this study, the years considered to estimate the market size of Medical Imaging Outsourcing are as follows:

• History Year: 2016-2019
• Base Year: 2019
• Estimated Year: 2020
• Forecast Year 2020 to 2027

Reasons to Purchase this Report:

- Market segmentation analysis including qualitative and quantitative research incorporating the impact of economic and policy aspects
- Regional and country level analysis integrating the demand and supply forces that are influencing the growth of the market.
- Market value USD Million and volume Units Million data for each segment and sub-segment
- Competitive landscape involving the market share of major players, along with the new projects and strategies adopted by players in the past five years
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players

Research Methodology:

In-depth interviews and discussions were conducted with several key market participants and opinion leaders to compile the research report.

This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.

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