Radiology is a medical discipline that utilizes imaging technologies, such as x-rays, for both the diagnosis and treatment of diseases. Within radiology, services encompass both diagnostic and therapeutic applications. Radiologists, as medical professionals specializing in this field, employ a variety of medical imaging methods, examinations, and tests, along with a range of instruments and techniques to identify, examine, and address medical conditions.
The primary types of radiology services include stationary digital radiology systems and portable digital radiology systems. Stationary digital radiology systems are fixed in one location and cannot be moved. Procedures conducted using these systems include both conventional and digital methods, catering to patients of varying age groups, including adults and pediatric populations. Radiology services find applications in cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and are utilized by end users such as hospitals, ambulatory centers, diagnostic centers, clinics, and others.
Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.
The sharp rise in U.S. tariffs and the resulting trade tensions in spring 2025 are having a significant impact on the healthcare sector, especially in the supply of essential medical devices, diagnostic equipment, and pharmaceuticals. Hospitals and healthcare providers are grappling with higher costs for imported surgical tools, imaging systems, and consumables like syringes and catheters, many of which have limited domestic substitutes. These escalating expenses are putting pressure on healthcare budgets, prompting some providers to delay equipment upgrades or pass increased costs on to patients. Furthermore, tariffs on raw materials and components are disrupting the manufacturing of vital drugs and devices, leading to supply chain delays. In response, the industry is adopting diversified sourcing strategies, expanding local production where feasible, and pushing for tariff exemptions on critical medical products.
The radiology services market research report is one of a series of new reports from The Business Research Company that provides radiology services market statistics, including global market size, regional shares, competitors with a radiology services market share, detailed radiology services market segments, market trends and opportunities, and any further data you may need to thrive in the radiology services industry. This radiology services market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The radiology services market size has grown rapidly in recent years. It will grow from $7.31 billion in 2024 to $8.17 billion in 2025 at a compound annual growth rate (CAGR) of 11.8%. The growth in the historic period can be attributed to digitalization of imaging, evolution of modalities, shift to PACs and RIS systems, emphasis on subspecialties, quality standards and accreditation.
The radiology services market size is expected to see rapid growth in the next few years. It will grow to $13.02 billion in 2029 at a compound annual growth rate (CAGR) of 12.3%. The growth in the forecast period can be attributed to collaborative healthcare models, enhanced patient-centric approaches, focus on preventive healthcare, personalized medicine demand, integration of artificial intelligence. Major trends in the forecast period include technological advancements, telemedicine and remote imaging, personalized and precision medicine, demand for faster turnaround times, ai and machine learning integration.
The forecast of 12.3% growth over the next five years reflects a slight reduction of 0.2% from the previous projection. This reduction is primarily due to the impact of tariffs between the US and other countries. The imposition of tariffs may pose a significant challenge for the U.S. by restricting access to high-resolution Magnetic Resonance Imaging contrast agents imported from Norway and Switzerland, potentially compromising diagnostic accuracy and increasing outpatient imaging costs. The effect will also be felt more widely due to reciprocal tariffs and the negative effect on the global economy and trade due to increased trade tensions and restrictions.
The radiology services market is experiencing growth driven by the increasing prevalence of age-associated diseases. Conditions such as Alzheimer's disease, arthritis, and dementia become more common with age, necessitating diagnostic tests such as MRI and computed tomography. The rising incidence of these diseases has led to an increased demand for diagnostic procedures. For example, the Alzheimer's Association reported that in 2022, over 6 million U.S. citizens were affected by Alzheimer's, and this number is projected to reach 13 million by 2050. The escalating costs associated with Alzheimer's, totaling $321 billion in 2022 and expected to rise to $1 trillion by 2050, highlight the urgency for diagnostic radiology services.
The radiology services market is anticipated to be boosted by the development of healthcare infrastructure. Healthcare infrastructure encompasses the facilities, equipment, information systems, and resources needed to deliver medical services. Integrating radiology services into healthcare infrastructure enhances diagnostic capabilities, promotes interdisciplinary treatment, and improves patient outcomes across various medical specialties. For instance, the Department of Health and Aged Care in Australia announced substantial investments in healthcare infrastructure, totaling $132 billion in 2022-23 and increasing to $140 billion in 2025-26. This significant financial commitment over the next four years is expected to drive the growth of radiology services.
Product innovations are becoming a prominent trend in the radiology services market. Major companies in the sector are introducing new products to maintain their competitive edge. For example, in February 2024, Yellowcross, a telemedicine practice management company based in the U.S., launched a new consultancy service designed to enhance teleradiology management for healthcare providers amid the growing shortage of radiologists. This service assists medical groups in navigating technology, billing, and marketing, allowing them to efficiently expand their remote care capabilities. Yellowcross aims to improve patient access, lower healthcare costs, and elevate the standard of care through customized telemedicine solutions.
Major companies in the radiology services market are adopting a strategic partnership approach to deliver innovative radiology equipment and imaging services in Portugal. Strategic partnerships involve companies leveraging each other's strengths and resources to achieve mutual benefits and success. For example, in April 2022, Unilabs AB, a diagnostic and imaging services company based in Switzerland, announced a partnership with GE HealthCare Technologies, Inc. This collaboration encompasses MRI and CT scanning equipment, ultrasound devices, mammography, X-ray machines, and new imaging fleet services. The partnership aims to provide additional imaging capacity, accelerate diagnoses, and improve diagnostic quality for patients across Portugal by offering an advanced imaging fleet and state-of-the-art imaging services. GE HealthCare Technologies, Inc. is a medical technology and diagnostic imaging company based in the U.S.
In February 2024, Premier Radiology Services LLC, a U.S.-based provider of teleradiology services, acquired NationalRad for an undisclosed amount. The purpose of this acquisition is to improve patient care and broaden its subspecialty offerings by utilizing NationalRad's expertise in subspecialty teleradiology services. NationalRad is a diagnostic radiology service based in the U.S. that specializes in providing accurate subspecialty interpretations.
Major companies operating in the radiology services market include Radisphere National Radiology Group Inc., GE HealthCare, TeleDiagnostic Solutions Pvt. Ltd., 4ways Healthcare Limited, Medica Reporting Ltd., Koninklijke Philips N.V., Onrad Inc., Aspect Imaging Ltd., Aurora Healthcare US Corp., FONAR Corporation, ESAOTE SPA, Neusoft Corporation, Toshiba Corporation, FUJIFILM Holdings Corporation, Hologic Inc., Everlight Radiology, Global Diagnostics, RamSoft Inc., Siemens Healthineers, Telemedicine Clinic, Teleradiology Solutions Inc., Virtual Radiology, Hitachi Ltd., CANON MEDICAL SYSTEMS CORPORATION, Sanrad Medical Systems Private Limited, Quality Electrodynamics LLC, Shenzhen Anke High-tech Co. Ltd.
North America was the largest region in the radiology services market in 2024. The regions covered in the radiology services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the radiology services market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The radiology services market includes revenues earned by entities by providing services such as computed tomography (CT), magnetic resonance imaging (MRI), nuclear medicine, positron emission tomography (PET) and ultrasound procedures. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Radiology Services Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on radiology services market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
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Where is the largest and fastest growing market for radiology services ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The radiology services market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:
The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.
Scope
Markets Covered:1) By Type: Stationary Digital Radiology Systems; Portable Digital Radiology Systems
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time Series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery Format: PDF, Word and Excel Data Dashboard.
Table of Contents
1. Executive Summary
2. Radiology Services Market Characteristics
3. Radiology Services Market Trends And Strategies
4. Radiology Services Market - Macro Economic Scenario Including The Impact Of Interest Rates, Inflation, Geopolitics, Trade Wars and Tariffs, And Covid And Recovery On The Market
4.1. Supply Chain Impact from Tariff War & Trade Protectionism
5. Global Radiology Services Growth Analysis And Strategic Analysis Framework
5.1. Global Radiology Services PESTEL Analysis (Political, Social, Technological, Environmental and Legal Factors, Drivers and Restraints)
5.2. Analysis Of End Use Industries
5.3. Global Radiology Services Market Growth Rate Analysis
5.4. Global Radiology Services Historic Market Size and Growth, 2019 - 2024, Value ($ Billion)
5.5. Global Radiology Services Forecast Market Size and Growth, 2024 - 2029, 2034F, Value ($ Billion)
5.6. Global Radiology Services Total Addressable Market (TAM)
6. Radiology Services Market Segmentation
6.1. Global Radiology Services Market, Segmentation By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Stationary Digital Radiology Systems
Portable Digital Radiology Systems
6.2. Global Radiology Services Market, Segmentation By Procedure, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Conventional
Digital
6.3. Global Radiology Services Market, Segmentation By Patient Age, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Adults
Pediatric
6.4. Global Radiology Services Market, Segmentation By Application, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Cardiovascular Imaging
Chest Imaging
Dental Imaging
Mammography Imaging
Orthopedic Imaging
6.5. Global Radiology Services Market, Segmentation By End User, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Hospitals
Ambulatory Centers
Diagnostic Centers
Clinics
Other End Users
6.6. Global Radiology Services Market, Sub-Segmentation Of Stationary Digital Radiology Systems, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Fixed Digital X-ray Systems
Ceiling-Mounted Systems
Floor-Mounted Systems
6.7. Global Radiology Services Market, Sub-Segmentation Of Portable Digital Radiology Systems, By Type, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
Mobile X-ray Units
Wireless Portable X-ray Systems
Battery-Operated Portable Systems
7. Radiology Services Market Regional And Country Analysis
7.1. Global Radiology Services Market, Split By Region, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion
7.2. Global Radiology Services Market, Split By Country, Historic and Forecast, 2019-2024, 2024-2029F, 2034F, $ Billion