There are thousands of complications that a human body can suffer from, and that makes for hundreds of different types of diagnostic imaging that are needed to be done in order for the physicians to provide care to the patients. While there has always been consistent demand for these diagnostic imaging facilities in all parts of the world, the organizations have mostly mushroomed and remained confined within metropolitan areas.
To meet the demands that have so far being left behind, innovators have now developed the concept of mobile medical imaging services, and the market for the same is poised for a fruitful future. According to a recent business intelligence report by Transparency Market Research (TMR), the global mobile imaging services market will be worth US$13.3 billion by the end of 2020, with the demand projected to increment steadily at a CAGR of 3.20% during the forecast period of 2014 to 2020.
The analyst of the TMR report notifies of a fairly consolidated competitive landscape in the mobile imaging services market, which is a reflection of considerably high entry barriers. The technology and the equipment that are required for medical mobile imaging services are costly, and although that has been a hindrance in its ubiquity, global players are now making forays in emerging economies to find new opportunities.
Some of the notable participants in this market are Front Mobile Imaging, Cobalt Health, InHealth Group Ltd., Digirad Corporation, Nuffield Health, and Alliance HealthCare Services. Most of these players are eyeing fruitful mergers and acquisitions, which helps them expanding geographically as well as strengthen their supply chain. For instance, in May 2017, Red Rocks Radiation and Oncology, LLC agreed into a collaboration with Alliance Healthcare Services, aspiring to offer improved clinical experience to their out-patients.
Based on product type, the mobile imaging services market has been segmented into mammography, bone densitometry, MRI, CT scan, X-ray, ultrasound, and PET/CT. End users studied under this report are home healthcare services, hospitals and private clinics, rehabilitation centers, sports organizations, geriatric care and hospice agencies, and military institutions and prisons. Geographically, North America is foreseen to remain the region with most prominent demand potential, feeding off the developed country of the U.S. However, Asia Pacific is vastly populated and if the cost of the equipment and services can be reduced, the analyst of the report highlights India and China as substantial country-wide markets.
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The convenience and time-efficient method that mobile imaging services enable are the key drivers of the market for the same. A number of chronic diseases are on the rise, including cardiovascular, neurological, and renal, and the demand for medical care is forever escalating. In addition to that, geriatrics are now formulating a substantial percentage of the global population, and a remote method of medical imaging is a boon for them.