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Monday, 17 May 2021

Viral Vector Manufacturing Market Growth, Trends and Value Chain 2020-2027

Market Scenario:

Global viral vector manufacturing market is expected to grow significantly over the forecast period. It is projected that the global viral vector manufacturing market is expected to register a CAGR Approx. 22.65% with an expected market value of USD 319 million during the forecast period of 2018–2023. Gene therapy is one of the preferred treatment options for most chronic diseases, involving insertion of a functional copy of a gene into a defective cell. Viral vector methods are used in effective transfer of therapeutic gene into the target cells. Viral vectors used in gene therapy include retroviral vectors, adenoviral vectors and adeno-associated viral vectors.

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Numerous factors such as rise in number of clinical trials, increase in the number of gene therapy candidates, and growing necessity for an effective mode of disease treatment are expected to drive the growth of the market. Also, the characteristics of viral vectors such as ability to express therapeutic genes efficiently, and non-pathogenic nature fuels the growth of the market. Moreover, several companies involved in the development of viral agent-based products often seek support in terms of strategic collaborations and acquisitions with contract service providers to deliver a clinical grade product. This is mainly because of the limited availability and complexity of platform and technologies used for vector designing, production, packaging, and release testing. For example, in December 2017, Merck announced a commercial supply agreement to manufacture viral vectors for Bluebird Bio, Inc. for its use in potentially transformative gene therapies. This move will accentuate the life science business of Merck as a leading contract manufacturing organization and commercial provider of viral vectors for gene therapy.

However, high cost of gene therapies and possible mutagenesis may hamper the market growth during the assessment period.

Segmentation:

The global viral vector manufacturing market has been segmented into type, disease, application, and end-user.

The market, on the basis of type, has been segmented retroviral vectors, adenoviral vectors, adeno-associated viral vectors, and other viral vectors.

The segment, by retroviral vectors is anticipated to be the largest segment. Retro viruses contain an enzyme reverse transcriptase which allows the integration into the host genome. This has increased the usage of retroviral vectors in various treatment options, whereas the adenoviral vectors segment is estimated to be the fastest growing segment owing to their increased use in the in-vivo and in-vitro experiments.

The market, by retroviral vectors, has been further segmented into lentiviral vectors and gamma-retroviral vectors.

The market, by disease, has been segmented into cancer, genetic disorders, infectious diseases, and others.

The market, by application, has been segmented into gene therapy and vaccinology.

The market, by end-user, has been segmented into pharmaceutical and biotechnology companies, research institutes, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The viral vector manufacturing market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European viral vector manufacturing market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The viral vector manufacturing market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The viral vector manufacturing market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key players:

FUJIFILM Diosynth Biotechnologies U.S.A., Inc., Sanofi, Lonza, Merck KGaA, GENERAL ELECTRIC COMPANY, Oxford BioMedica, Spark Therapeutics, Inc., uniQure N.V., FinVector Vision Therapies, Brammer Bio, Cell and Gene Therapy Catapult, Cobra Biologics, REGENXBIO Inc., and Kaneka Eurogentec S.A. are some of the key players in the global viral vector manufacturing market.

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Genitourinary Drugs Market Growth, Trends and Value Chain 2020-2027

Market Scenario

The global genitourinary drugs market is accounted for USD 28,200 million expected and expected to register CAGR ~1.65% during the forecast period (2018–2023).

Genitourinary disorders are caused by damage to urinal or genital part of the human body. Kidney, bladder, ureter and urethra are parts of genitourinary system, genitourinary drugs are used to treat the medical complications caused to these parts. The rising prevalence of genitourinary disorders, increasing number of pipeline drugs, and technological advancement in genitourinary diagnosis are expected to drive the growth of the market. According to the U.S. National Library of Medicine more than 480 clinical trials are lined up for treatment of urinary tract infection.

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Health Information Center, Moreover, rising R&D spending and collaborative strategies adopted by the top players such as licensing and agreements are contributing to the growth of the market. For instance, in October 2018, Novartis AG signed a licensing agreement with Boston Pharmaceuticals for manufacturing and marketing of its three anti-infective products LYS228, IID572, and MAK181.

The increasing emergence of counterfeit drugs, rising generics drug competition, and high number of patent expirations may hamper the growth of the market during the assessment period.

Segmentation

The global genitourinary drugs market has been segmented on the basis of disease, product, and end-user.

On the basis of disease, the market has been classified urinary tract infections, erectile dysfunction, urinary incontinence & overactive bladder, kidney/renal cancer, genitourinary cancer, bladder cancer, bladder cancer, cervical cancer, sexually transmitted diseases, interstitial cystitis, hematuria, ovarian cancer, prostate cancer, and others.

The product segment has been divided into urologicals, hormonal therapy, gynecologicals, and anti-infectives.

The market, by end-user, has been segmented into hospitals, clinics, super specialty centers, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The genitourinary drugs market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European genitourinary drugs market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The genitourinary drugs market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The genitourinary drugs market in the Middle East & Africa has been segmented into the Middle East and Africa.

Regional Market Summary

The Americas are likely to dominate the global genitourinary drugs market owing to the rising prevalence of genitourinary disorders in aging population, increase in the healthcare expenditure, and the presence of a well-established healthcare system. According to the National Kidney Foundation, Urinary tract infections (UTIs) are responsible for nearly 10 million doctor visits each year and approximately 20% women suffer from UTI at least once in a life.

The European market is expected to be the second-largest genitourinary drugs market. The market growth in this region can be attributed to the increasing research and development, rise in number of chronic diseases such as diabetes, and government initiatives for the development of healthcare sector. According to the International Diabetes Foundation, diabetes is major health concern in European region and in 2017, approximately 9.1% of total European population was suffering from diabetes.

Asia-Pacific is expected to be the fastest-growing genitourinary drugs market during the forecast period owing to the increasing geriatric production along with rise in number of genitourinary disorders, rising investments in healthcare and expansions by market players in the region. According to United Nations, Department of Economic and Social Affairs, in 2016, 12.4% of total population in Asian countries was 60 year or older.

The market in the Middle East & Africa is expected to hold the smallest share of the global genitourinary drugs market due to lack of technical knowledge, undeveloped healthcare sector, and poor medical facilities.

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Cell Harvesting Market to Witness Widespread Expansion During 2020-2027

The global cell harvesting market is expected to grow significantly over the forecast period. It is estimated that the global cell harvesting market is expected to register a CAGR of Approx. 8.75% with an estimated market value of USD 209.5 million during the forecast period from 2018 to 2023. Cell harvesting is performed by separating the cell culture from the growing medium, involving techniques such as centrifugation, microfiltration, and depth filtration.

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Numerous factors such as an increase in chronic infections and diseases, the rapid growth of the biotechnology and pharmaceutical industries, and rising research in regenerative medicines are expected to drive the growth of the market. Moreover, the cost-effectiveness, ease of use, the durability of harvesters, technological advancements, and design development of cell harvester devices fuel the growth of the market. Several companies are also involved in new product launches to strengthen their position in the market. For instance, in September 2018, AVITA Medical, a global regenerative medicine company, announced that the US Food and Drug Administration (FDA) approved the Company’s Premarket Approval (PMA) application to market the RECELL Autologous Cell Harvesting Device (RECELL System). This device helps to treat severe burns in patients of 18 years and older.

Key players:

ads-tec GmbH, Argos Technologies, Inc., Arthrex, Inc., Avita Medical, Bertin, connectorate, Cox Scientific, hynoDent AG, PerkinElmer Inc., Scinomix, Teleflex Incorporated, and TERUMO CORPORATION are some of the key players in the global cell harvesting market.

Intended Audience

Pharmaceutical companies
Biotechnology companies
Cell harvester vendors
Research and Development (R&D) companies
Government research institutes
Academic institutes and universities

However, the technical complexity of harvesters, coupled with ethical issues related to embryonic stem cell research may curb the growth of the market. Stringent government regulations and mandatory licensing rules may also hamper the market growth during the assessment period.

Market Segmentation:

The global cell harvesting market has been segmented into product type, application, and end user.

The market, on the basis of product type, has been segmented into manual cell harvesters and automated cell harvesters.

The manual cell harvesters segment is estimated to hold the largest share owing to the high preferability of manual cell harvesters, whereas the automated cell harvesters segment is expected to be the fastest growing segment due to increased awareness and rise in the use of automated technologies in devices.

The market, by application, has been segmented into biopharmaceutical application, stem cell research, and others.

The market, by end user, has been segmented into pharmaceutical companies, biotechnology companies, research institutes, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East and Africa.

Regional Market Summary

Geographically, the Americas is anticipated to dominate the global cell harvesting market owing to a well-developed healthcare sector and growing healthcare expenditure. For instance, according to the data published by the Committee for a Responsible Federal Budget in May 2018, the US spent about USD 3.5 trillion, or 18% of its Gross Domestic Product (GDP) on health expenditures, which accounted for more than twice the average among developed countries in 2017. Additionally, many companies in this region focus on the innovation of new treatment options, thus being a lucrative option for the growth of the market in this region.

Europe is expected to hold the second largest position in the global cell harvesting market. The market growth in this region owes to the availability of funds for research. For instance, according to the data published by the National Institute of Health Funding (NIHR) in 2016, funding of EUR 928 million was announced for new NIHR Biomedical Research Centers (BRC) and NIHR Clinical Research Facilities (CRF) for five years starting from April 2017.

Asia-Pacific is anticipated to be the fastest growing region in the market due to the presence of a huge patient population and continuously developing economies.

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Swollen Knee Treatment Market Excessive Growth Opportunities Estimated to be Experienced 2020-2027

The global swollen knee treatment market size is expected to register a significant growth during the forecast period (2018–2023).

Knee swelling or occasionally mentioned as “water on the knee” is a condition where excess fluid gets accumulated in an around the knee joint. This conditions in medical terms are referred to as “knee effusion”. The swollen knee can result due to injuries such as torn ligament, cartilage tear or broken bones. The increasing number of geriatric populations followed by the rising frequency of musculoskeletal diseases, a growing number of surgeries undertaken is projected to grow the global swollen knee treatment market. The operating procedure of knee replacement is inclusive of various steps taken to implant the artificial device and replacement of the damaged knee.

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The swollen knee treatment market is anticipated to grow due to several factors such as the growing rate of elderly aged diseases like obesity, arthritis, osteoporosis, diabetes and sports-related injuries. Contrary, due to existing and upcoming advance technologies such as minimally invasive surgery and improved implant supplies are making it more broadly accepted even by the younger population.

In spite of being a widely used technique for curing extremely debilitating diseases, such as rheumatoid arthritis, the global swollen knee treatment market is confronting some challenges such as financial slowdown which is avoiding the growth of the market. Other growth restraining factors of the global swollen knee treatment market are intense competition, huge surgical cost, growing awareness for some non-surgical treatment methods such as exercises, shoe inserts, walking aids, weight loss programs, and painkiller medicines.

Segmentation

The global swollen knee treatment market has been segmented on the basis of type and end-users.

On the basis of type, the market has been classified as medications, patient-controlled analgesia (PCA) pumps, nerve blocks, liposomal bupivacaine, and surgery. The medications have been segmented into opioids and corticosteroids and others. The surgery is segmented into arthrocentesis, arthroscopy and knee replacement. The knee replacement is further segmented into total knee replacement, unicompartmental knee replacement, and others.

On the basis of end-users, the market has been classified as hospitals, clinics, ambulatory surgery centers, and others.

On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas has been further segmented into North America and South America, with the North American market divided into the US and Canada.

The European swollen knee treatment market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The swollen knee treatment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The swollen knee treatment market in the Middle East and Africa has been segmented into the Middle East and Africa.

Regional Market Summary

In the swollen knee treatment market, North America is anticipated to account for the largest market share due to the early adoption of advanced medical technologies, the rise in awareness, the rise in growth of the healthcare sector, and due to favorable compensation setting for many surgical procedures.

The European market is expected to hold the second largest market share. The market growth in this region can be attributed to the rising frequency of diabetes patients, increasing number of surgeries, and increasing demand for advanced treatment procedures are boosting the European market.

The market share in Asia-Pacific is also projected to experience growth in the near future due to access to optimal treatment facilities and growing demand for advanced technology, better adoption rate, increase in disposable income, and rising medical tourism.

The market in the Middle East and Africa is expected to account for the smallest share of the global swollen knee treatment market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

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Research report explores the Kidney Dialysis Equipment Market for the forecast period, 2020-2027

Every day, a healthy individual’s kidneys filter around 120 to 150 quarts of blood. If a person’s kidneys are not working efficiently, the waste gets accumulated in the blood. This may lead to coma and later death. Dialysis avoids the formation of waste products and toxins in the blood.

Dialysis machines are artificial kidneys used to filter patients’ blood during kidney damage, kidney dysfunction, kidney failure, and to remove excess impurities from kidneys. Dialysis machines use hemodialysis to purify the blood and balance the constituents. In this course, the patient’s blood is distributed through the machine which is filtered and well-adjusted for pH electrolytes and fluid concentration before sending it back to the patient’s body. Dialysis machines have extensive applications such as directing medical help to patients suffering from renal diseases.

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Over the last decade, there had been many advances in renal dialysis equipment (both in portable and home dialysis machines), accessories, and consumables. According to the MRFR Research report, the global kidney dialysis equipment market size is likely to grow at a CAGR of 5.7% from an assessed USD 16.5 billion in 2017.

The development in this market is due to the rise in a number of End Stage Renal Disease Patients (ESRD), advanced technologies, and rise in cost-effective and accurate portable dialysis apparatus. The fast growth in the aging population, growing frequencies of diabetes and hypertension problems, and patients opting for dialysis treatments over kidney transplants due to lack of donors boost the market. Additionally, restrains for the market comprise the time consumption, risks and difficulties involved, and rules and regulations associated with dialysis.

Segmentation

The global kidney dialysis equipment market has been segmented on the basis of type, apparatus type, and end-user.

On the basis of type, the market has been classified as hemodialysis, peritoneal dialysis, and Continuous Renal Replacement Therapy (CRRT). Hemodialysis is segmented into conventional hemodialysis, short daily hemodialysis, and nocturnal hemodialysis. The peritoneal dialysis is segmented into Continuous Ambulatory Peritoneal Dialysis (CAPD), Continuous Cycling Peritoneal Dialysis (CCPD), Intermittent Peritoneal Dialysis (IPD), and Tidal Peritoneal Dialysis (TPD).

On the basis of apparatus type, the market has been classified into hemodialysis equipment, peritoneal dialysis equipment, and consumables and continuous renal replacement therapy systems. The hemodialysis equipment segment is categorized into hemodialysis machines, dialyzers and filters, bloodline systems, concentrates and solutions, tunneled hemodialysis catheters, and vascular access devices. The peritoneal dialysis equipment segment is categorized into concentrates and solutions, automated peritoneal dialysis machines, dialyzers, and filters.

On the basis of end-user, the market has been classified into hospitals, clinics, in-center dialysis settings, home care, and ambulatory services.

On the basis of region, the market is segmented into the Americas, Europe, Asia-Pacific, and the Middle East and Africa. The Americas has further been segmented into North America and South America, with the North American market is divided into the US and Canada.

The European kidney dialysis equipment market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The kidney dialysis equipment market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The kidney dialysis equipment market in the Middle East and Africa has been segmented into the Middle East and Africa.

Key Players

Some of the key players in the kidney dialysis equipment are Fresenius Medical Care AG & Co. Ka, Davita Healthcare Partners Inc., Baxter International Inc., B. Braun Melsungen AG, Diaverum Deutschland GmbH, Nipro Corporation, Nxstage Medical, Inc., Nikkiso Co., Ltd., Mar Cor Purification, Inc. (A Cantel Medical Company), Asahi Kasei Medical Co., Ltd. (A Subsidiary of Asahi Kasei Corporation). Terumo Corporation, Rockwell Medical, Teleflex Incorporated, and Hemoclean CO., LTD.

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Artificial Neural Network Market to Witness Widespread Expansion During 2020-2027

Market Scenario

The global artificial neural network market size is expected to grow significantly over the forecast period. It is estimated that the global artificial neural network market is expected to grow significantly during the forecast period from 2018 to 2023.

An artificial neuron network is a computational model which resembles the function and structure of the human brain’s neuron system. The emergence of artificial intelligence and increasing adoption of the artificial neural network in the healthcare sector are the major drivers for the global artificial neural market. Factors such as the increasing healthcare expenditure, growing number of hospitalizations, and increasing prevalence of chronic diseases contribute to the growth of the market. Moreover, artificial neural networks provide significant benefits in medical research which is expected to fuel the market growth during the forecast period. Furthermore, owing to the growing adoption of artificial neuron network, many companies are engaged in developing artificial neuron network-based software. For instance, MAQ software by Microsoft implements an Artificial Neural Network (ANN) to learn from the historical data and predict the future values.

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Despite the drivers, slow digitization across emerging economies and reluctance among healthcare professionals to adopt artificial intelligence-based technologies are likely to hamper the growth of the market during the assessment period.

Segmentation

The global artificial neural network market has been segmented into type, component, and application.

The market, on the basis of type, has been segmented into feedback artificial neural network, feedforward artificial neural network, and others.

The market, by component, has been segmented into software, services, and platform.

The global artificial neural network market, by application, has been segmented into clinical diagnosis and prognostics, image analysis and interpretation, bioelectric signal analysis and interpretation, drug development, and others.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The artificial neural network market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European artificial neural network market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The artificial neural network market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The artificial neural network market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key players

Neural Technologies Limited, SwiftKey, Starmind International AG, Afiniti, Ward Systems Group, Inc., SAP SE, NeuroDimension, Inc., Alyuda Research, LLC, Google Inc., Neuralware, Qualcomm Technologies, Inc., Intel Corporation, Microsoft Corporation, IBM Corporation, and Oracle Corporation are some of the key players in the global artificial neural network market.

Regional Market Summary

Geographically, the Americas is anticipated to dominate the global artificial neural network market owing to a well-developed healthcare sector, due to the presence of a large number of enterprises in the development of neural network technologies, and high adoption advanced technology in the healthcare sector. According to the Centers for Disease Control and Prevention, in 2015, the total national health expenditure was USD 3.2 trillion.

Europe is expected to hold the second largest position in the global artificial neural network market. The market growth in this region is attributed to the growing adoption of artificial intelligence among healthcare providers and increasing healthcare expenditure coupled with the rising prevalence of chronic diseases.

The Asia-Pacific region is expected to exhibit the fastest growth throughout the forecast period owing to the accelerated economic growth of countries in the region and the growing need to control the increasing healthcare costs. These factors are also responsible for the emerging trend towards the digitization of patient records among healthcare organizations in this region.

The Middle East & Africa has the least share of the global artificial neural network market. However, this region is expected to have a potential growth opportunity for the artificial neural network market during the forecast period. The key factors driving the growth rate in this region include increasing technological implementations and rising healthcare investments.

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Radiology Services Market Scope Analysis 2020-2027

Market Scenario

The global radiology services industry accounted for USD 8,102.51 million in 2018 and is expected to register a CAGR of 10.5% during the forecast period (2019–2024).

Radiology is the technology that diagnosis and treat diseases within the human body by using medical imaging. The radiology services are served by the radiologists and experts that are qualified for performing the test and have unique postgraduate medical education in, radiation effects on the human body, radiation safety/protection, appropriate performance and interpretation of quality radiologic, and medical imaging examinations. Radiology services comprise X-Rays, computed tomography (CT), ultrasound, fusion imaging, positron emission tomography (PET), nuclear medicine, and magnetic resonance imaging (MRI). These imaging techniques should be performed after having adequate training and understanding of radiation safety and protection.

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The rising prevalence of the chronic disease, increasing healthcare expenditure, the emergence of thin client 3D viewers, advancement in radiology technology, rising demand for minimally invasive procedures are expected to drive the growth of the market. Moreover, rising R&D spending and aggressive strategies adopted by the top players, such as new product launches, are contributing to the growth of the market. For instance, In June 2018, FDA has anticipated reclassifying some types of radiology image software analyzers from class III to class II devices for mammography breast cancer, ultrasound breast lesions, and radiograph lung nodules. This will help to reduce the regulatory burden on the medical device industry.

However, the risk of high radiation exposure associated with the devices may hamper the growth of the market during the assessment period.

Segmentation

The global radiology services market has been segmented on the basis of product type, application, technology, end user, and region.

On the basis of product type, the market has been classified as stationary digital radiology systems and portable digital radiology systems. Stationary digital radiology systems have been further segmented into stationary ceiling-mounted systems and floor-to-ceiling mounted system. Based on application, the market has been segmented into cardiovascular imaging, chest imaging, dental imaging, mammography imaging, orthopedic imaging, and others. The market, by technology, has been segmented into computed radiology and direct digital radiology. On the basis of end user, the market has been classified as hospitals, diagnostic centers, and others. The stationary digital radiology segment is expected to hold the largest market share of the radiology services market due to acceptance of stationary systems in hospitals, extensive application, and less exposure to radiation. However, portable digital radiology segment is showing the highest growth rate owing to simplicity in the workflow, low-cost, and proficiency performing complex computational tasks.

The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The radiology services market in the Americas has further been segmented into North America and South America, with the North American market divided into the US and Canada.

The European radiology services market has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The radiology services market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The radiology services market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key Players

Some of the key players in the global radiology services market are 4ways Healthcare Limited, Cybernet Medical Corporation, Everlight Radiology, Global Diagnostics, Medica Reporting Ltd., Onrad, Inc, Radisphere National Radiology Group Inc., RamSoft Inc., Siemens Healthcare, Telediagnostics Services Pvt. Ltd., Telemedicine Clinic, Teleradiology Solutions Inc, and Virtual Radiology (vRAD).

Regional Market Summary

The Americas are likely to dominate the global radiology services market owing to the rising aging population, chronic disease, increasing funding & investments by manufacturer, and government initiative towards advance healthcare infrastructure. For instance, according to the report published by the US Department of Health & Human Services, in 2017, around 11.5% of the adult population in the US are diagnosed with heart disease, i.e., 28.2 million.

The European market is expected to be the second-largest radiology services market. The market growth in this region can be attributed to government funding and support of the healthcare sector, coupled with increasing research and development. Moreover, favorable reimbursement policies in European countries are contributing to the growth of the market in this region. For instance, the National Health Service (NHS), UK’s publicly sponsored national healthcare system, reimbursed about 40 million diagnostic imaging tests in 2016.

Asia-Pacific is expected to be the fastest-growing radiology services market during the forecast period owing to the increasing prevalence of cancer, rising investments in healthcare, and expansions by market players in the region. Also, a country such as India and China are considering the fastest growing region due to the presence of a huge patient population. Moreover, the government of these countries is open to adopting new technology and the best treatment option from a developed country. According to the International Agency for Research on Cancer, in 2018, India has a prevalence of 173.5 cancer patients per 100,000 population. Moreover, in China, the prevalence rate of cancer was 377.6 patients per 100,000 population in 2018.

The market in the Middle East & Africa is expected to account for the smallest share of the global radiology services market due to an underdeveloped healthcare sector, lack of technical knowledge, and poor medical facilities.

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