Perfusion Radiology Market Overview
The Perfusion Radiology Market market is projected to reach USD 5416.45 Million by 2030 at 6.10% CAGR during the forecast period 2022-2030
Perfusion radiology systems are the ones that are used in various hospitals, healthcare, and other diagnostic centers. These are put to use to share the data of different patients along with the laboratory results of different tests conducted with the physiciansat these hospitals. Wide-scale adoption of these systems is proving to be very helpful and useful when it comes to the proper maintenance of data belonging to different patients. Also, this has an important role to play in decision-making related to the clinical field.
A steep growth graph has been recorded in cardiovascular and nerve diseases. These are a common sight these days, along with an increase in the quantum of geriatric population, along with the technological advancements. These are expected to bring about major enhancements in the perfusion radiology market. However, the government sector and the aided bodies are introducing different kinds of regulatory policies that are stringent. Various attempts are being undertaken to create awareness amongst the target audience related to the use of these technological advancements.
COVID 19 Analysis
The different waves of the fatal coronavirus pandemic have not only targeted the physical but the mental being of individuals, as well. Many businesses have faced serious consequences related to the imposition of temporary and permanent lockdowns worldwide. This has had a bad impact on the production and manufacturing lanes but the demand for products is what these markets keep going. However, it is the pharmaceutical and healthcare sector is that is witnessing a huge demand even amid the pandemic. However, with the rising number of cases, the hospitals are treating the COVID-positive patients only and not entertaining other patients on daily basis. Most of the medical fraternity is employed to treat the covid cases that are resulting in the unavailability of doctors to treat patients suffering from cardio and neurological issues.
However, the testing scale has increased during the spread of the pandemic that supports sharing of data and provides reliable lab results. The government is aiming to develop regulations that will help in providing apt results and helping large-scale audiences. Also, the key market players are coming up with major product developments that will help in addressing various health requirements of different consumer groups.
Perfusion Radiology Market Share, by Application, 2018 (%)
Source: MRFR Analysis
The European Cardiovascular disease statistics of 2017 showed that more than 6 million people as a fresh set of patients contracted this disease in Europe back in 2017 and the total account of diseases touched the 11 million mark. There is a large-scale growth of both cardiovascular and ner disorders and diseases that is likely to help the perfusion radiology market grow at a staggering rate by the end of the global forecast period in 2025.
Most of the patients are not well-versed with the developed technologies related to the tests and treatment related to cardiovascular and nerve disorders and diseases. This lack of awareness amongst the target audience along with the strict regulations imposed by the government is a major restraint in the perfusion radiology market in the process of growth.
The perfusion radiology industry analysis predicts positive and profitable growth for the market by the end of the future forecast year in 2023. The main reason behind this is a rise in nerve disorders and cardiovascular diseases that are a result of changed lifestyle, unhealthy eating habits, etc. the American Heart Association Statistics Committee along with the Stroke Statistics Subcommittee released stats that showed that each year, approximately 795,000 people suffer from a heart attack. These stats were released in the historic year of 2017. Hence, there is an urgent need for government-funded programs, healthcare centers, and other bodies to develop ways to create awareness amongst people for the technological advancements that will help in curing the disease.
Asia-Pacific Perfusion Radiology Market Share, 2018 (%)
Source: MRFR Analysis
To predict the perfusion radiology market growth, it is vital to analyze the performance of the different market segments. The market has been segmented based on the following:
Based on application
The applications that are a part of the perfusion radiology market are ventilation and cardiovascular imaging, and brain imaging amongst others. Usually, patients who have nerve disorders are recommended to undergo MRIs and other brain imaging procedures.
Based on the market end-user
The market end-users are those who make use of the reports and testing conducted as a part of the perfusion radiology market. These are hospitals, medical centers, diagnostics, dispensaries, charitable trusts, and laboratories amongst others.
In the historic year of 2018, the North American market accounted for the largest market share and a similar trend is expected to emerge by the end of the global forecast period in 2025. The North American population is subject to a high risk of developing brain tumors, cardio disses, and tumor-related angiogenesis. Further, this growth trend is to be followed by Europe that is expected to register the second-highest growth. The main reason behind such a steep increase in the market in the European region is due to a large population contracting nerve and neuro disorders. As per the data released by the European Bar Council in the historic year of 2017, as many as 220.7 million people belonging to different European nations were suffering from at least one neurological disorder. Hence, as a cure for this, the use of perfusion radiology in the European nation on a large scale was promoted on a large scale.
Gradually, the MEA market is also expected to grow by the end of the global forecast year of 2025. The dominant power is likely to be enjoyed by the Middle East region. The presence of major countries like Saudi Arabia and Egypt is likely to make a difference in the quantum of growth.
The key market players have a vital role to play in helping to determine and increase the perfusion radiology market share by the end of the global forecast year of 2025. Also, the market for perfusion radiology revenue and market valuation are a result of the production and key growth strategies adopted by these prominent players functioning in various regions across the globe.
The perfusion radiology market key players are as follows:
The perfusion radiology market report discusses the market overview and the impact of the obnoxious spread of COVID 19 on the market operations. The report includes the market dynamics that help in forming a predictable picture for the perfusion radiology market by the end of the global forecast period in 2025. The dynamics include the drivers and restraints for the market. Also, the report considers the opinion of the leaders and industry experts that further helps to draw a competitive market landscape. This competitive landscape is valid to study the strategies of the key market players and also consider their recent developments that will help the market positively by the end of the global forecast period in 2025.
|Market Size||2030: USD 5416.45 Million|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Application, End-User|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||GE Healthcare (US), Siemens Healthineers AG (Germany), Canon Medical Systems Corporation (Japan), Bracco Diagnostic, Inc. (Italy), Koninklijke Philips N.V. (Netherlands), Shimadzu Corporation (Japan), Lantheus Medical Imaging, Inc (US), Perimed (US), Neusoft Corporation (China), and Advantis Medical Imaging (Netherlands)|
|Key Market Opportunities||The growing prevalence of cardiovascular and neurological diseases|
|Key Market Drivers||
Perfusion radiology market CAGR would be 6.10% during the forecast period.
Perfusion radiology market valuation would be USD 5416.45 Million by 2030.
The segments of Perfusion radiology market are brain imaging, ventilation imaging, cardiovascular imaging, and others.
Perfusion radiology market segments are diagnostic centers, hospitals, and others.
North America would lead Perfusion radiology market.