According to Vision Research Reports, the global mobile imaging services market size surpassed US$ 12.59 billionn in 2019 and to reach US$ 16.1 billion by 2027 with a CAGR of 2.8% from 2020 to 2027.
Medical imaging systems have become indispensable for disease diagnosis due to numerous recent developments and applications, surge in the geriatric population and rise in the prevalence cardiovascular diseases, renal disorders, neurological disorders, and cancer. Driven by the objective of serving the needs of the geriatric population by providing extended care and reducing wait times, consequently balancing the patient load, the mobile medical imaging systems are anticipated to witness an impressive growth in the next few years.
The market is expected to gain pace due to an increase in the number of procedures performed using mobile imaging services. Advertising is another key driver for the market. Increase in the awareness among the people about these mobile services would allow health care providers to give a serious thought to these alternative options.
Mobile imaging services provide faster medical care during natural calamities. Furthermore, as the life of the installed base of imaging equipment nears obsolescence, hospitals seek cost-effective alternatives such as mobile imaging services.
At home diagnostic testing may boost the mobile imaging services in the near future
- There has been emergence of newer service providers offering hospital quality services specifically designed to meet the need of non ambulatory and home bound patients providing service right to the bed side. This advancement will help reduce the discomfort the home bound patient may suffer during travelling to various imaging centers. Beaumount Health System in the U.S. is one such mobile imaging service provider.
Improved access to diagnostic imaging in developing countries by increasing awareness and initiatives by government and equipment manufacturers
- Lack of awareness for disease diagnosis may often deprive people from early detection of dreadful diseases such as cancer thus leading to high mortality. Need for better facilities is more pronounced in sub-urban and rural areas where people, especially women are more reluctant to visit hospitals or clinics due to poor financial condition or even mere shyness. In February 2014, Philips Healthcare has built-in the mobile van with imaging technology, comprising a dual-energy X-ray absorptiometry scan for osteoporosis and a digital mammography machine for breast cancer screening. A partnership between the private sector and a non-profit organization can also help make a difference. Rad-Aid International, Inc., a US-based non-profit public service provider in order to provide healthcare service partners with Philips Healthcare for technology and Postgraduate Institute of Medical Education and Research (Pgimer), Chandigarh, for medical expertise and therapeutic care
MRI Segment to Dominate Market
- Based on type, the global mobile imaging services market has been divided into X-ray, ultrasound, CT, MRI, PET/CT, bone densitometry, and mammography. Mobile MRI equipment is the most preferred modality for mobile purposes since it is more expensive than a CT scanner and also covers a wider range of applications. The mobile MRI sector is known to grow at a faster pace owing to the high cost of owning a fixed MRI scanner coupled with growing demand for MRI procedures. The rise in the elderly population demanding more diagnostic precision, shrink in payor reimbursement, and greater work pressure on existing radiologists due to the rise in demand for diagnostic procedures, are some of the factors that have helped drive the need for faster MRI services with improved efficiency, accuracy, and accessibility
Generic Mobile Imaging Services to be Highly Lucrative Segment
- In terms of end-users, the global mobile imaging services market has been classified into hospitals & private clinics, home healthcare providers, rehabilitation centers, geriatric care & hospice agencies, sports organizations, and others (military institutions, prisons).
- Hospitals & private clinics segment is expected to dominate the global mobile imaging market. Rise in the prevalence of diseases would result in increase in patient inflow at private clinics, hospitals and other health institutes. Cancer, infectious diseases and neurological disorders have been the major reasons for increased emergency room visits in the recent past. An article published by Fierce Healthcare states that emergency room visits have increased in the U.S. due to the implementation of the Affordable Care Act. The article also mentions that several doctors expect a significant increase in this number in the near future.
North America to Dominate Global Market
- In terms of region, the global mobile imaging services market has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global mobile imaging services market in 2018, followed by Europe.
- North America, comprising the U.S. and Canada, was the largest regional market for mobile imaging services in 2019. Large numbers of players have been serving dispersed populations in rural areas in these regions. Convenience and ease of diagnostic imaging has also increased use of mobile imaging by other customer groups such as correctional institutes, rehabilitation centers, geriatric care, and other medical care facilities.
- Furthermore, precautionary measures at sports events have improved the quality of medical care provided at such sites. Although mobile MRI and CT account for majority of the market share, popularity of PET/CT, and bone densitometers is increasing considerably in this region. Profit margins for mobile imaging services providers are comparatively higher in the U.S., owing to higher procedure volume. Large numbers of players offer mammography scanning as part of a community service and are not-profit organizations.
- The global mobile imaging services market is fragmented in terms of number of players. Key players in the global market include Accurate Imaging, Inc., Atlantic Medical Imaging, Alliance HealthCare Services, Center For Diagnostic Imaging, Cobalt Health, DMS Health Technologies, InHealth Group, INTERIM DIAGNOSTIC IMAGING, LLC., First Coast Mobile Imaging, Inc., Nuffield Health among others
The global mobile imaging services market has been segmented as follows:
- Bone Densitometry
- Hospitals & Private Clinics
- Home Healthcare Providers
- Rehabilitation Centers, Geriatric Care & Hospice Agencies
- Sports Organizations
- Others (Military Institutions, Prisons)
- North America
- Rest of Europe
- Asia Pacific
- Australia & New Zealand
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- GCC Countries
- South Africa
- Rest of Middle East & Africa
VRR’s report on the global mobile imaging services market studies past as well as current growth trends and opportunities to gain valuable insights of these indicators of the market during the forecast period from 2020 to 2027. The report provides revenue of the global mobile imaging services market for the period 2016–2027, considering 2020 as the base year and 2027 as the forecast year. The report also provides the compound annual growth rate (CAGR) for the global mobile imaging services market during the forecast period.
The report has been prepared after an extensive primary and secondary research. Primary research involved bulk of research efforts, wherein analysts carried out interviews with industry leaders and opinion makers. Extensive secondary research involved referring to key players’ product literature, annual reports, press releases, and relevant documents to understand the global mobile imaging services market.
Secondary research also included Internet sources, statistical data from government agencies, websites, company presentations, sales data, and trade associations. Analysts have employed a combination of top-down and bottom-up approaches to study various phenomenon in the global mobile imaging services market.
The report includes an elaborate executive summary, along with a snapshot of the growth behavior of various segments included in the scope of the study. Furthermore, the report sheds light on the changing competitive dynamics in the global mobile imaging services market. These indices serve as valuable tools for existing market players as well as for entities interested in entering the global mobile imaging services market.
The report delves into the competitive landscape of the global mobile imaging services market. Key players operating in the global mobile imaging services market have been identified, and each one of these has been profiled for distinguishing business attributes. Company overview, financial standings, recent developments, and SWOT are some of the attributes of players in the global mobile imaging services market that have been profiled in this report.
Key Questions Answered in Global Mobile Imaging Services Market Report
- What is the scope of growth of imaging services companies in the global mobile imaging services market?
- What will be the Y-o-Y growth of the global mobile imaging services market between 2019 and 2027?
- What is the influence of changing trends in technologies on the global mobile imaging services market?
- Will North America continue to be the most profitable market for mobile imaging services providers?
- Which factors are anticipated to hamper the growth of the global mobile imaging services market during the forecast period?
- Which are the leading companies in the global mobile imaging services market?
A unique research methodology has been utilized by VRR to conduct comprehensive research on the growth of the global mobile imaging services market and arrive at conclusions on its growth prospects. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the drawn conclusions.
Secondary methods referred to by analysts during the production of the global mobile imaging services market report include statistics from company annual reports, SEC filings, company websites, investor presentations, regulatory databases, government publications, and industry white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who contributed to the production of VRR’s study on the mobile imaging services market as primary methods.
These primary and secondary methods have provided exclusive information during interviews, which serves as a validation from the mobile imaging services market leaders. Access to an extensive internal repository and external proprietary databases enabled this report to address specific details and questions about the global mobile imaging services market with accuracy. The study also uses the top-down approach to assess the revenues for each segment and the bottom-up approach to counter-validate them. This has helped in reaching VRR’s estimates on future prospects of the global mobile imaging services market more reliably and accurately.