Global Medical Imaging Outsourcing Market

Medical Imaging Outsourcing Market Size, Share, Growth Analysis, By Service(Radiology Reporting, Teleradiology, Medical Image Analysis, and Image-Archiving and Communication Systems (PACS) and Others), By End-User(Hospitals, Diagnostic Centers, and Ambulatory Surgical Centers), By Modality(X-ray, MRI, CT, Ultrasound), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35B2148 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 93 | Figures: 79

Medical Imaging Outsourcing Market News

In July 2023, Arterex, a contract manufacturer specializing in medical devices, completed the acquisition of NextPhase Medical Devices from Kidd & Company. This strategic acquisition is set to facilitate Arterex's diversification and expansion within the medical device market, allowing the company to enhance its product portfolio.

In May 2023, Probo Medical, a prominent global supplier of medical imaging equipment, components, maintenance, and support services, revealed its acquisition of National Ultrasound, Inc. (National). The specific financial details of the deal have not been disclosed.

In January 2023, Bayer made an announcement regarding its acquisition of Blackford Analysis, an AI imaging solutions provider. This strategic move by Bayer underscores its commitment to fostering innovation in the field of radiology.

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Medical Imaging Outsourcing Market size was valued at USD 8.48 Billion in 2022 and is poised to grow from USD 8.82 Billion in 2023 to USD 12.06 Billion by 2031, at a CAGR of 4% during the forecast period (2024-2031).

The competitive environment of the medical imaging outsourcing market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. The market also witnesses the entry of newer and specialized companies, especially in the domain of medical image analysis and artificial intelligence (AI)-driven solutions. These entrants bring innovative technologies and tailored services that cater to the evolving demands of the healthcare sector, further intensifying competition. 'Alliance Medical', 'Flatworld Solutions Pvt. Ltd.', 'MetaMed', 'Diagnostic Imaging Services', 'NORTH AMERICAN SCIENCE ASSOCIATES INC.', 'Ankarad Medical Imaging Systems', 'Shields MRI', 'KAYI Healthcare', 'RadNet, Inc.', 'PROSCAN IMAGING', 'Alliance Health Partners', 'Imbio', 'Nuance Communications', 'Philips Healthcare', 'Siemens Healthineers', 'GE Healthcare', 'Fujifilm Healthcare', 'Agfa Healthcare', 'Toshiba Medical Systems', 'Hitachi Healthcare', 'Canon Medical Systems', 'Samsung Medison', 'Mindray Medical'

The rising prevalence of chronic diseases, an aging population, and the need for early disease detection. Healthcare providers are under pressure to efficiently manage patient care and costs, making outsourcing an attractive option to access advanced technology and specialized expertise without significant capital investment.

Rising Integration of Artificial Intelligence: The increasing integration of artificial intelligence (AI) and machine learning in medical image analysis. AI-driven tools are enhancing the speed and accuracy of diagnostic interpretations, enabling more precise patient care and streamlined workflows. It also offers cost-effective solutions, making it an appealing option for healthcare facilities aiming to maintain high-quality services while managing costs efficiently.

North America has historically dominated the medical imaging outsourcing market due to its robust network of healthcare providers. The region has a well-established healthcare infrastructure, high healthcare expenditure, and early adoption of advanced medical technologies. Additionally, the region benefits from strong research and development activities in the field of medical imaging, leading to a continuous influx of innovative technologies and solutions.

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