Medical Imaging Outsourcing Market To Demonstrate Massive Growth With A CAGR of 4.8% By 2027 | Grand View Research, Inc.

June 28 18:30 2021
Medical Imaging Outsourcing Market To Demonstrate Massive Growth With A CAGR of 4.8% By 2027 | Grand View Research, Inc.

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According to a new report published by Grand View Research, Inc. 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.

The global medical imaging outsourcing market size is expected to reach USD 9.31 billion by 2027, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. 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. Challenge of labor shortage, continuous technological advancements, and increasing service expectations of customers facing declining reimbursement are factors that are propelling the hospitals to opt for outsourcing services. 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.

Outsourcing diagnostic imaging services provide significant benefits to all the stakeholders, including service providers, patients, and reporting radiologists. The benefits include a considerable reduction in wait time for results and easy access to skilled radiologists. In U.S., 90% of radiology services are being outsourced. There are numerous other advantages in terms of speed, accuracy, and security that are compelling healthcare providers to embrace the outsourcing route. 

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Medical Imaging Outsourcing Market Report Highlights

 By device, the MRI segment is anticipated to expand at the fastest CAGR of 5.0% over the forecast period as the resolution of MRI image is quite detailed and it can detect minute changes of structures within the body

North America held the largest share of 41.6% in 2019. This is majorly due to rise in chronic diseases in U.S and Canada, which is expected to create demand for diagnostic services in the region

Asia Pacific is anticipated to expand at the second fastest CAGR of 4.5% over the forecast period due to increasing penetration of imaging systems and growth of private healthcare chains

There is an increasing demand for customized screening as per requirements. Besides, advancements in mammography have shot up immensely, emphasizing the primary importance of timely diagnosis.

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Medical Imaging Outsourcing Market Segmentation

Grand View Research has segmented the global medical imaging outsourcing market based on device and region:

Medical Imaging Outsourcing Device Outlook (Revenue, USD Million, 2016 – 2027)

     Computed Tomography (CT)
     Computed Tomography (CT)
     Half Face Shield

Medical Imaging Outsourcing Regional Outlook (Revenue, USD Million, 2016 – 2027)

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

List of Key Players of Medical Imaging Outsourcing Market

    • 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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About Grand View Research

Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.

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