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The Global Radiology as a Service Market size is expected to reach $3,783.8 million by 2027, rising at a market growth of 22.5?GR during the forecast period.
Radiology services refer to the medical imaging services that can be utilized for treating and diagnosing different kinds of diseases. Radiology services are considered as minimally invasive medical procedures which include magnetic resonance imaging (MRI), positron emission tomography (PET), and computed tomography (CT).
Factors such as the rise in rates of age-associated disorders like Parkinson’s disease, Alzheimer’s disease, and dementia, the deployment of cutting-edge healthcare technologies, and higher focus on R&D activities are acting as growth catalysts for the market during the forecasting period. In addition, the growth of the market would be driven by the increasing aging population and massive spending to develop advanced healthcare infrastructure, particularly in emerging countries.
Aging is the most common factor which increases the risks of developing diseases. As per the Centers for Disease Control and Prevention (CDC), around 4/5th of the aging population in the US experience minimum of one chronic disease. In addition, the American Medical Association (AMA) predicts that around 3/5th of the people aged 65 years or above will experience above one chronic condition by the end of 2030.
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 Regions, the market is segmented into North America, Europe, Asia Pacific, and Latin America, Middle East & Africa.
Market Growth Factors: The rise in demand for radiology services
Radiology consists of imaging procedures that help to diagnose and treat different types of diseases. In addition, as various imaging techniques have emerged in the medical field, radiology services have achieved a high popularity in the last couple of years due to their high efficiency in accurately detecting diseases. These days, doctors are highly dependent on radiographers. Radiographers perform these tests as well as provide physical & emotional support throughout these imaging procedures. This factor plays a vital role in boosting the adoption of radiology services among patients.
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