Radiology services encompass a wide range of applications, including diagnostic imaging, cancer detection, trauma assessment, and monitoring of chronic diseases. Key features of radiology services include advanced medical imaging technologies such as MRI, CT scans, and digital X-rays, offering detailed and non-invasive visualization of internal body structures. Benefits of radiology services include early disease detection, precise diagnosis, and treatment planning, leading to better patient outcomes. Radiology services are essential for both routine health check-ups and critical medical emergencies, enhancing medical decision-making and patient care across diverse specialties, including cardiology, orthopedics, neurology, and oncology, making them a cornerstone of modern healthcare.
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Data Bridge Market Research analyses that the Australia Radiology Services Market which was USD 1.33 billion in 2021, is expected to reach USD 4.73 billion by 2029, and is expected to undergo a CAGR of 17.2% during the forecast period from 2022 to 2029. Continual advancements in medical imaging technology, including magnetic resonance imaging (MRI), computed tomography (CT) scans, and digital X-rays, are revolutionizing radiology services
Key Findings of the Study
The aging population is expected to drive the market's growth rate
The global rise in the aging population is driving a surge in demand for radiology services. As individuals grow older, they often require more frequent medical imaging procedures for the diagnosis and treatment of age-related conditions and chronic illnesses. This demographic shift has led to an increased need for services such as X-rays, CT scans, and MRIs to provide early detection, monitoring, and tailored healthcare solutions, positioning radiology as a critical component of elderly care and healthcare systems worldwide
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014-2019)
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Quantitative Units
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Revenue in USD Billion, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Services, Product), Procedure (Conventional, Digital), Patient Age (Adults, Pediatric), Radiation Type (Diagnostics, Interventional Radiology), Application (Cardiology, Pelvic and Abdominal, Oncology, Neurology, Urology, Musculoskeletal, Gynecology, Dental, Others), Distribution Channel (Hospitals, Ambulatory Centers, Diagnostic Centers, Clinics
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Market Players Covered
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Hitachi, Ltd. (Japan), Siemens (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), GENERAL ELECTRIC (U.S.), Koninklijke Philips N.V. (Netherlands), Aspect Imaging Ltd. (Israel ), Bruker (U.S.), AURORA HEALTHCARE US CORP (U.S.), FONAR Corp. (U.S.), ESAOTE SPA (Italy), Neusoft Corporation (China), TOSHIBA CORPORATION (Japan), Sanrad Medical Systems Private Limited (India), FUJIFILM Holdings Corporation (Japan), ONEX Corporation (Canada), Hologic, Inc. (U.S.), Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China), Quality Electrodynamics, LLC (U.S.), Shenzhen Anke High-tech Co., Ltd.(China) and Magritek (Germany)
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Data Points Covered in the Report
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In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, and pestle analysis.
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Segment Analysis:
The Australia radiology services market is segmented on the basis of type, procedure, patient age, radiation type, application, and distribution channel.
- On the basis of type, the Australia radiology services market is segmented into services, products.
- On the basis of procedure, the Australia radiology services market is segmented into conventional, digital
- On the basis of patient age, the Australia radiology services market is segmented into adults, and pediatric.
- On the basis of radiation type, the Australia radiology services market is segmented into diagnostics, and interventional radiology.
- On the basis of application, the Australia radiology services market is segmented into cardiology, pelvic and abdominal, oncology, neurology, urology, musculoskeletal, gynecology, dental, and others
- On the basis of distribution channel, the Australia radiology services market is segmented into hospitals, ambulatory centers, diagnostic centers, and clinics
Major Players
Data Bridge Market Research recognizes the following companies as the major Australia radiology services market players in Australia radiology services market are Hitachi, Ltd. (Japan), Siemens (Germany), CANON MEDICAL SYSTEMS CORPORATION (Japan), GENERAL ELECTRIC (U.S.), Koninklijke Philips N.V. (Netherlands), Aspect Imaging Ltd. (Israel), Bruker (U.S.), AURORA HEALTHCARE US CORP (U.S.), FONAR Corp. (U.S.).
Market Developments
- In August 2021, GE Healthcare entered into a partnership with Amazon Web Services (AWS), a subsidiary of Amazon known for its cloud computing services. This collaboration aims to deliver cutting-edge AI and cloud-based imaging solutions, as well as access to clinical and operational data, to hospitals and healthcare providers.
- In June 2021, Royal Philips forged a partnership with Akumin, a prominent outpatient diagnostic imaging services provider. This collaboration involves the deployment of the Philips Radiology Operations Command Center within Akumin's outpatient imaging centers. Additionally, both companies will collaborate on establishing clinical standards for Akumin's MR and CT imaging modalities.
- To enhance its range of cancer screening solutions for lung, prostate, and breast cancers through AI technology, Radnet, Inc. acquired both Quantib and Aidence.
- Akumin Inc. expanded its diagnostic imaging services portfolio through the acquisition of Alliance Healthcare.
For more detailed information about the Australia radiology services market report, click here – https://www.databridgemarketresearch.com/reports/australia-radiology-services-market
