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Global Radiology as a Service Market Size, Share & Trends Analysis Report by End User (Hospitals, Nursing Homes), Service (Teleradiology, Technology Management), Region, and Segment Forecasts, 2021-2028

  • ID: 5513904
  • Report
  • December 2021
  • Region: Global
  • 150 Pages
  • Grand View Research

FEATURED COMPANIES

  • GE Healthcare
  • NANOX.ARC
  • RamSoft Inc.
  • Teleconsult Europe
  • Telemedicine Clinic U.K
  • USARAD Holdings Inc.
The global radiology as a service market size is expected to reach USD 4.7 billion by 2028, registering a CAGR of 20.3% over the forecast period, according to the report. The increasing number of medical images and low availability of radiologists around the globe are the factors propelling the market growth over forecast years. According to the report published by the National Health Service (NHS) England, nearly 42.7 million medical images were reported in 2018 compared to 42.1 million in 2017, which indicates an increase of 1.4% yearly. The radiology as a service model provides quality diagnostic imaging services through teleradiology, technology management, cloud-based imaging, and consulting services via trained professionals. radiology as a service offers 24/7 service support to patients and radiologists across the globe. Increasing healthcare expenditure and the growing adoption of advanced cloud-based platforms are anticipated to accelerate the market growth over the forecast years.



The teleradiology service segment held the largest revenue share in 2020. Lack of the required number of radiologists and surge in the produced number of radiology images are accounted for the highest market share of this segment. The radiology as a service model allows 24/7 access to the latest medical imaging service via teleradiology to healthcare providers. Teleradiology covers services, such as reads and reporting. It provides the best possible diagnosis at a significantly lower cost. It involves the remote interpretation of a patient’s medical image generated from different modalities, such as X-ray, CT, MRI, and others, by the radiologists without their physical presence in the same location as the patient.

Furthermore, the adoption of advanced technology in medical imaging has grown in the last five years at a lucrative rate. It is, in turn, responsible for the growing industry consolidation activities of the key market players in the teleradiology market. In March 2019, Koninklijke Philips N.V. acquired Direct Radiology’s teleradiology platform, which indicates the surging focus among large global market players regarding the expansion of its teleradiology portfolio.

The hospital end-user segment accounted for the highest revenue share in 2020. The rising number of imaging procedures performed in hospitals and the increasing investments by hospitals to provide quality diagnostic imaging services are the major factors responsible for the highest revenue share of the segment. Moreover, increasing adoption of advanced imaging modalities and high patient visits to the hospital for medical imaging than radiology clinics and diagnostic imaging centers are also expected to drive the segment. Furthermore, the shortage of radiologists in hospitals and increasing radiology procedures in healthcare facilities, such as hospitals and clinics, are expected to support the growth of this end-user segment.

North America was the leading regional market in 2020. The increasing number of service providers and growing awareness for the adoption of advanced technology are the major factors anticipated to maintain the dominance of this regional market over the forecast years. In addition, well-developed healthcare infrastructure, government support, and increasing demand for radiology as a service are projected to drive the market in this region. However, Asia Pacific is expected to grow at the highest CAGR from 2021 to 2028. It can be attributed to a growing consumer base, supportive government initiatives for modernizing the healthcare infrastructure, and increasing awareness in developing countries.

Radiology As A Service Market Report Highlights

  • The global market is anticipated to be valued at USD 4.7 billion by 2028 owing to the increasing diagnostic images and growing adoption of teleradiology services to provide quality medical imaging service at a low cost
  • The teleradiology service segment dominated the market in 2020 due to its high demand and increasing adoption in the radiology as a service model
  • The hospital end-user segment dominated the market in 2020 owing to the high patient visits and adoption of advanced imaging modalities in hospitals
  • North America dominated the market in 2020 due to the growing awareness about radiology as a service model and the high number of service providers in the region


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Frequently Asked Questions about the Global Radiology as a Service Market

What is the estimated value of the Global Radiology as a Service Market?

The Global Radiology as a Service Market was estimated to be valued at $1.3 Billion in 2021.

What is the growth rate of the Global Radiology as a Service Market?

The growth rate of the Global Radiology as a Service Market is 20.3%, with an estimated value of $4.7 Billion by 2028.

What is the forecasted size of the Global Radiology as a Service Market?

The Global Radiology as a Service Market is estimated to be worth $4.7 Billion by 2028.

Who are the key companies in the Global Radiology as a Service Market?

Key companies in the Global Radiology as a Service Market include Philips Healthcare (Direct Radiology), GE Healthcare, NANOX.ARC, USARAD Holdings Inc., Virtual Radiologic, Onrad Inc., RamSoft Inc., Telediagnostic Solutions and Real Rads.
Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • GE Healthcare
  • NANOX.ARC
  • RamSoft Inc.
  • Teleconsult Europe
  • Telemedicine Clinic U.K
  • USARAD Holdings Inc.

Chapter 1 Methodology and Scope
1.1 Information Procurement
1.1.1 Purchased Database
1.1.2 Internal Database
1.1.3 Secondary Sources
1.1.4 Third-Party Perspective
1.1.5 Primary Research
1.2 Information Analysis & Data Analysis Models
1.3 List of Data Sources
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 Global Radiology as a service market Variables, Trends & Scope
3.1 Penetration and Growth Prospect Mapping
3.2 Global Radiology as a service Market Dynamics
3.2.1 Market Driver Analysis
3.2.2 Market Restraint Analysis
3.3 Global Radiology as a service Industry Analysis - Porter’s
3.3.1 Bargaining Power Of The Suppliers
3.3.2 Bargaining Power Of The Buyers
3.3.3 Threat Of Substitution
3.3.4 Threats From New Entrants
3.3.5 Competitive Rivalry
3.4 Global Radiology as a service Industry Analysis - PEST
3.4.1 Political Landscape
3.4.2 Economic Landscape
3.4.3 Social Landscape
3.4.4 Technology Landscape
3.7 Major Deals & Strategic Alliances Analysis
3.8 Impact of COVID-19 Pandemic on Global Radiology as a service market
Chapter 4 Global Radiology as a service market: Competitive Analysis
4.1 Recent Developments & Impact Analysis, By Key Market Participants
4.2 Company/Competition Categorization (Key Innovators, Market Leaders, Emerging Players)
Chapter 5 Global Radiology as a service market: Service Market Estimates & Trend Analysis
5.1 Global Radiology as a service Market: Service Analysis
5.1.1 Teleradiology
5.1.1.1 Global teleradiology market value estimates and forecasts, 2016 - 2028 (USD Million)
5.1.2 Cloud-based Imaging IT Services
5.1.2.1 Global cloud-based imaging IT services market value estimates and forecasts, 2016 - 2028 (USD Million)
5.1.3 Consulting Services
5.1.3.1 Global consulting services market value estimates and forecasts, 2016 - 2028 (USD Million)
5.1.4 Technology Management Services
5.1.4.1 Global technology management services market value estimates and forecasts, 2016 - 2028 (USD Million)
Chapter 6 Global Radiology as a service market: End-user Estimates & Trend Analysis
6.1 Global Radiology as a service Market: End User Analysis
6.1.1 Hospitals
6.1.1.1 Global hospitals market estimates and forecasts, 2016 - 2028 (USD Million)
6.1.2 Diagnostic Imaging Centers
6.1.2.1 Global diagnostic imaging centers market estimates and forecasts, 2016 - 2028 (USD Million)
6.1.3 Radiology Clinics
6.1.3.1 Global radiology clinics market estimates and forecasts, 2016 - 2028 (USD Million)
6.1.4 Physician Offices
6.1.4.1 Global physician offices market estimates and forecasts, 2016 - 2028 (USD Million)
6.1.5 Nursing Homes
6.1.5.1 Global nursing homes market estimates and forecasts, 2016 - 2028 (USD Million)
Chapter 7 Radiology as a service Market: Regional Estimates & Trend Analysis
7.1 Regional market snapshot (USD Million)
7.2 Radiology as a service market: regional movement analysis, USD Million, 2020 & 2028, USD Million
7.3 North America
7.3.1 North America Radiology as a service market estimates and forecasts, by services and End-user, 2016 - 2028 (USD Million)
7.3.2 U.S.
7.3.2.1 U.S. Radiology as a service market estimates and forecasts, by services and End-user, 2016 - 2028 (USD Million)
7.3.3 Canada
7.3.3.1 Canada Radiology as a service market estimates and forecasts, by services and End-user, 2016 - 2028 (USD Million)
7.4 Europe
7.4.1 Europe Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.4.2 Germany
7.4.2.1 Germany Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.4.4.3 U.K.
7.4.3.4 U.K. Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.4.4 France
7.4.4.1 France Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.4.5 Italy
7.4.5.1 Italy Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.4.6 Spain
7.4.6.1 Spain Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.4.7 Russia
7.4.7.1 Russia Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5 Asia Pacific
7.5.1 Asia Pacific Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5.2 Japan
7.5.2.1 Japan Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5.3 China
7.5.3.1 China Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5.4 India
7.5.4.1 India Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5.5 Australia
7.7.7.5.5.1 Australia Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5.6 Singapore
7.5.6.1 Singapore Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.5.7 South korea
7.5.7.1 South korea Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.6 Latin America
7.6.1 Latin America Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.6.2 Brazil
7.6.2.1 Brazil Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.6.3 Mexico
7.6.3.1 Mexico Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.6.4 Argentina
7.6.4.1 Argentina Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.7 MEA
7.7.1 MEA Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.7.2 South Africa
7.7.2.1 South Africa Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.7.2 Saudi Arabia
7.7.2.1 Saudi Arabia Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
7.7.2 UAE
7.7.2.1 UAE Radiology as a service market estimates and forecasts, by services and end-user, 2016 - 2028 (USD Million)
Chapter 8 Competitive Landscape
8.1 Philips Healthcare (Direct Radiology)
8.1.1 Company Overview
8.1.2 Financial Performance
8.1.3 Service Benchmarking
8.1.4 Strategic Initiatives
8.2 GE Healthcare
8.2.1 Company Overview
8.2.2 Financial Performance
8.2.3 Service Benchmarking
8.2.4 Strategic Initiatives
8.3 NANOX.ARC
8.3.1 Company Overview
8.3.2 Financial Performance
8.3.3 Service Benchmarking
8.3.4 Strategic Initiatives
8.4 USARAD Holdings Inc.
8.4.1 Company Overview
8.4.2 Financial Performance
8.4.3 Service Benchmarking
8.4.4 Strategic Initiatives
8.5 Virtual Radiologic
8.5.1 Company Overview
8.5.2 Financial Performance
8.5.3 Service Benchmarking
8.5.4 Strategic Initiaves
8.6 Onrad Inc.
8.6.1 Company Overview
8.6.2 Financial Performance
8.6.3 Service Benchmarking
8.6.4 Strategic Initiaves
8.7 RamSoft Inc.
8.7.1 Company Overview
8.7.2 Financial Performance
8.7.3 Service Benchmarking
8.7.4 Strategic Initiatives
8.8 Telediagnostic Solutions
8.8.1 Company Overview
8.8.2 Financial Performance
8.8.3 Service Benchmarking
8.8.4 Strategic Initiatives
8.9 Teleradiology Solutions
8.9.1 Company Overview
8.9.2 Financial Performance
8.9.3 Service Benchmarking
8.9.4 Strategic Initiatives
8.10 Real Rads
8.10.1 Company Overview
8.10.2 Financial Performance
8.10.3 Service Benchmarking
8.10.4 Strategic Initiatives
8.11 Telemedicine Clinic U.K
8.11.1 Company Overview
8.11.2 Financial Performance
8.11.3 Service Benchmarking
8.11.4 Strategic Initiatives
8.12 Vesta Teleradiology
8.12.1 Company Overview
8.12.2 Financial Performance
8.12.3 Service Benchmarking
8.12.4 Strategic Initiatives
8.13 DICOM Grid, Inc. (dba Ambra Health)
8.13.1 Company Overview
8.13.2 Financial Performance
8.13.3 Service Benchmarking
8.13.4 Strategic Initiatives
8.14 Teleconsult Europe
8.14.1 Company Overview
8.14.2 Financial Performance
8.14.3 Service Benchmarking
8.14.4 Strategic Initiatives
8.15 Medica Group PLC
8.15.1 Company Overview
8.15.2 Financial Performance
8.15.3 Service Benchmarking
8.15.4 Strategic Initiatives
List of Tables
Table 1 Competitive dashboard analysis
Table 2 List of other market participants
Table 3 North America Radiology as a service market, by service type, 2016 - 2028 (USD Million)
Table 4 North America Radiology as a service market, by end user, 2016 - 2028 (USD Million)
Table 5 U.S. Radiology as a service market, by service type, 2016 - 2028 (USD Million)
Table 6 U.S. Radiology as a service market, by end user, 2016 - 2028 (USD Million)
Table 7 Canada Radiology as a service market, by service type, 2016 - 2028 (USD Million)
Table 8 Canada Radiology as a service market, by end user, 2016 - 2028 (USD Million)
Table 9 Europe Radiology as a service market, by service type, 2016 - 2028 (USD Million)
Table 10 Europe Radiology as a service market, by end user, 2016 - 2028 (USD Million)
Table 11 U.K. Radiology as a service market, by service type, 2016 - 2028 (USD Million)
Table 12 U.K. Radiology as a service market, by end user, 2016 - 2028 (USD Million)
Table 13 Germany Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 14 Germany Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 15 France Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 16 France Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 17 Italy Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 18 Italy Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 19 Spain Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 20 Spain Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 21 Russia Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 22 Russia Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 23 Asia Pacific Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 24 Asia Pacific Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 25 Japan Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 26 Japan Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 27 China Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 28 China Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 29 India Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 30 India Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 31 Australia Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 32 Australia Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 33 South Korea Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 34 South Korea Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 35 Singapore Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 36 Singapore Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 37 Latin America Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 38 Latin America Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 39 Mexico Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 40 Mexico Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 41 Brazil Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 42 Brazil Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 43 Argentina Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 44 Argentina Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 45 MEA Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 46 MEA Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 47 South Africa Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 48 South Africa Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 49 Saudi Arabia Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 50 Saudi Arabia Radiology as a service market, by form, 2016 - 2028 (USD Million)
Table 51 UAE Radiology as a service market, by Service, 2016 - 2028 (USD Million)
Table 52 UAE Radiology as a service market, by form, 2016 - 2028 (USD Million)
List of Figures
Fig. 1 Radiology as a service market segmentation
Fig. 2 Market research process
Fig. 3 Information procurement
Fig. 4 Primary research pattern
Fig. 5 Radiology as a service Market Summary, 2020 (USD Million)
Fig. 6 Radiology as a service Market trends & outlook
Fig. 7 Penetration & growth prospect mapping
Fig. 8 Market driver analysis (Current & future impact)
Fig. 9 Market restraint analysis (Current & future impact)
Fig. 10 Radiology as a service Market, Service outlook key takeaways (USD Million)
Fig. 11 Radiology as a service Market: Service movement analysis (USD Million)
Fig. 12 Teleradiology market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 13 Cloud-based imaging IT services market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 14 Consulting services market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 15 Technology management services market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 16 Radiology as a service Market, end user outlook: Key takeaways, USD Million
Fig. 17 Radiology as a service Market: end user Movement Analysis, USD Million
Fig. 18 Hospitals market revenue estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 19 Diagnostic imaging centers market revenue estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 20 Radiology clinics market revenue estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 21 Physician offices market revenue estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 22 Nursing homes market revenue estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 23 Regional marketplace: Key takeaways
Fig. 24 Radiology as a service Market: Regional outlook, 2018 & 2026
Fig. 25 North America market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 26 U.S. market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 27 Canada market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 28 Europe market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 29 U.K. market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 30 Germany market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 31 Spain market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 32 Italy market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 33 France market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 34 Russia market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 35 Asia Pacific market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 36 Japan market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 37 China market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 38 India market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 39 Australia market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 40 South Korea market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 41 Latin America market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 42 Brazil market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 43 Mexico market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 44 Argentina market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 45 MEA market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 46 South Africa market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 47 Saudi Arabia market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 48 UAE market estimates and forecasts, 2016 - 2028 (USD Million)
Fig. 49 Strategy framework
Note: Product cover images may vary from those shown
  • Philips Healthcare (Direct Radiology)
  • GE Healthcare
  • NANOX.ARC
  • USARAD Holdings Inc.
  • Virtual Radiologic
  • Onrad Inc.
  • RamSoft Inc.
  • Telediagnostic Solutions
  • Teleradiology Solutions
  • Real Rads
  • Telemedicine Clinic U.K
  • Vesta Teleradiology
  • DICOM Grid, Inc. (dba Ambra Health)
  • Teleconsult Europe
  • Medica Group PLC
Note: Product cover images may vary from those shown

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