The Mobile Medical Imaging Services Market is expected to register a CAGR of 5.1% during the forecast period (2022-2027).
COVID-19 has significantly impacted the growth of mobile medical imaging services due to the rise in the adoption of such services during the COVID-19 pandemic. For instance, according to the study published in the Journal of Medical Radiation Sciences, titled 'COVID-19 pandemic and the effect of increased utilization of mobile X-ray examinations on radiation dose to radiographers' in February 2022, COVID-19 pandemic and the effect of increased utilization of mobile X-ray examinations on radiation dose to radiographers due to increased utilization of mobile X-ray units, mobile imaging of non-routine body regions and radiographer work practice changes for impact on staff radiation dose during the early stages of the COVID-19 pandemic. The rise in the adoption of mobile imaging services during the pandemic is therefore expected to drive market growth during the pandemic.
The factors driving the growth of this market include the rise in demand for portability medical imaging technology and services, growing geriatric population, increasing prevalence of chronic diseases, among others.
The burden of chronic diseases is on the rise globally, and medical imaging procedures play a crucial role in the accurate diagnosis of chronic diseases. The increase in the aging population and changes in societal behavior are contributing to a steady increase in these common and costly long-term health problems. Most of the deaths by chronic diseases are attributable to cancer, cardiovascular diseases, obesity, and diabetes. According to GLOBOCAN, in 2020, about 19.3 million new cases of cancer were reported worldwide and this number is expected to increase to 30.2 million in the year 2040. The most affected would be the emerging markets, as the population growth is anticipated to be most significant in developing areas.
According to the World Population Aging Highlight of 2020 published by the United Nations, the global geriatric population (people of age 65 years or more) was 727 million in 2020, and it is expected to reach 1.5 billion by the end of 2050. Thus, the growing global geriatric population will have a significant impact on the growth of the mobile medical imaging due to high number of chronic diseases.
In addition, as per the research study published in February 2020, titled “Ischemic stroke in young adults: a global perspective”, about 11 million cases of ischemic strokes occurs every year across the world, of which more than half occurs in low- and middle-income countries and ischemic stroke is a major cause of long-term disability and has a profound effect on the quality of life of patients and caregivers, which is driving the demand for the effective diagnosis are expected to boost the growth of the mobile medical imaging services, due to the importance of early diagnosis of strokes.
Moreover, rising mobile health services is also expected to drive the growth of the market studied during the forecast period. For instance, in April 2021, The Stony Brook Cerebrovascular and Comprehensive Stroke Center (CVCSC) and the Stony Brook Renaissance School of Medicine Department of Emergency Services has launched a Mobile Stroke Unit. They will be essential expansions of stroke treatment, reaching patients earlier and saving more lives during the key 'golden hour' of stroke treatment. Patients will be taken to the nearest stroke centre, either a primary stroke centre or a Comprehensive Stroke Center, for treatment with this initiative. Rising initiatives of ambulatory stroke units will lead to increased adoption of the mobile medical imaging services, thereby expected to drive the growth of this segment.
Therfore, owing to the above mentioned factors, it is expected to show growth over the forecast period. However, high cost of mobile set up and imaging equipment and risk associated with radiation exposureare expected to hamper the market growth.
The X-ray service segment is expected to hold a major share in the market studied during the forecast period.
The major factors driving the growth of mobile X-ray services include advanced technology, a rising number of patients with chronic diseases along with an increasing geriatric population, and rising awareness regarding the availability of mobile X-ray services. For instance, in March 2021, Fujifilm India Private Limited launched a mobile digital radiology system - FDR nano which is lightweight and compact and also achieved approximately 80% reduction in its total weight as compared to traditional mobile X-rays. Thus, the advantages of portable systems and increasing product launches will lead to increased adoption of such imaging devices due to their lightweight and ease of carrying, therefore expected to drive the growth of mobile medical imaging services market significantly over the forecast period.
In addition, the rise in the expansion of the mobile X-ray services by the key market players is further expected to drive this segment growth. For instance, in March 2022, TridentCare, the national leader of portable diagnostic services, supported the 2022 Air Force Reserve Mountain West Basketball Championships. TridentCare has joined the onsite medical team to provide necessary emergency X-Ray services for the student-athletes throughout the tournament scheduled for March 6-12 at the Thomas & Mack Center in Las Vegas. Thus, rise in such initiatives will further drive the growth of the market studied due to higher adotption of mobile X-ray services.
Furthermore, rise in road injuries accross the globe is also expected to drive the growth of this segment due to rise in adoption of mobile X-ray imaging service. For instance, according to the Organisation for Economic Co-operation and Development (OECD), the number of traffic related injuries in Iceland and Israel in 2020 were 2589.6 and 1944 respectively per million people.
Therefore, owing to the aforementioned factors, this segment is expected to drive over the forecast period.
North America holds a significant market share and is expected to continue its stronghold for a few more years. This can be majorly attributed due to advanced health infrastructure, increasing prevalence of diseases and infections, growing emphasis on the development of innovative products, and rising number of regional mobile medical imaging service providers, rising number of chronic diseases, among others. For instance, according to Arthritis Foundation data updated in October 2021, 1.5 million people in the United States have rheumatoid arthritis, where the arthritis most commonly begins between ages 30 and 60 in women. The high incidence of these chronic diseases surges the demand for accurate diagnosis and plan of efficient and on-time treatment by the healthcare provider. Hence, drives the growth of the studied market in North America.
In addition, Moreover, according to the article published in United States Pharmacist, titled ‘Stroke Prevalence and Risk Factors’ in January 2021, in the United States, the prevalence of nontraumatic hemorrhagic stroke is 13%, including intracerebral hemorrhage causes stroke in 10% of cases, and subarachnoid hemorrhage causes stroke in 3% of cases. The rising prevalence of hemorrhagic stroke in the developed counties such as United States will lead to increased adoption of diagnosis and treatment, thereby expected to drive the growth of this market in the United States.
Furthermore, in February 2021, TridentCare, a mobile medical imaging service provider has entered an exclusive relationship with MG Medical Products to offer the mobile Electrocardiography) patch solution to its skilled nursing and long-term care facility patients. Such type of services will drive the growth of the market studied in the United States due to rise in adopiton of such services.
Moreover, rise in acqusition in this region is further expected to contribute the growth of this market. For instance, in September 2021, Akumin Inc, a premier provider of outpatient radiology services in the United States has completed the acquisition of Alliance HealthCare Services, Inc. With this, Akumin offers the most comprehensive radiology and oncology solutions to patients in the United States operating in 46 states, with more than 1,000 hospital and health system customers, 154 independent outpatient radiology centers and 34 radiation therapy centers, and has over 4,000 team members serving more than two million radiology and oncology patient visits annually.
Therefore, owing to the above factors, the market is expected to drive over the forecast period.
The market for mobile medical imaging is moderately competitive. The market is expected to drive to rise in collaboration among the key players and hospitals and other healthcare institutions, rise in acquisition by the key players, rise in mobile services, rise in telemedicine, among others. Some of the key players in this market include, Accurate Imaging Inc, Akumin Inc (Alliance Healthcare Services), Cobalt Imaging Center, DMS Health Technologies, Front Range Mobile Imaging, InHealth Group Limited, among others.
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COVID-19 has significantly impacted the growth of mobile medical imaging services due to the rise in the adoption of such services during the COVID-19 pandemic. For instance, according to the study published in the Journal of Medical Radiation Sciences, titled 'COVID-19 pandemic and the effect of increased utilization of mobile X-ray examinations on radiation dose to radiographers' in February 2022, COVID-19 pandemic and the effect of increased utilization of mobile X-ray examinations on radiation dose to radiographers due to increased utilization of mobile X-ray units, mobile imaging of non-routine body regions and radiographer work practice changes for impact on staff radiation dose during the early stages of the COVID-19 pandemic. The rise in the adoption of mobile imaging services during the pandemic is therefore expected to drive market growth during the pandemic.
The factors driving the growth of this market include the rise in demand for portability medical imaging technology and services, growing geriatric population, increasing prevalence of chronic diseases, among others.
The burden of chronic diseases is on the rise globally, and medical imaging procedures play a crucial role in the accurate diagnosis of chronic diseases. The increase in the aging population and changes in societal behavior are contributing to a steady increase in these common and costly long-term health problems. Most of the deaths by chronic diseases are attributable to cancer, cardiovascular diseases, obesity, and diabetes. According to GLOBOCAN, in 2020, about 19.3 million new cases of cancer were reported worldwide and this number is expected to increase to 30.2 million in the year 2040. The most affected would be the emerging markets, as the population growth is anticipated to be most significant in developing areas.
According to the World Population Aging Highlight of 2020 published by the United Nations, the global geriatric population (people of age 65 years or more) was 727 million in 2020, and it is expected to reach 1.5 billion by the end of 2050. Thus, the growing global geriatric population will have a significant impact on the growth of the mobile medical imaging due to high number of chronic diseases.
In addition, as per the research study published in February 2020, titled “Ischemic stroke in young adults: a global perspective”, about 11 million cases of ischemic strokes occurs every year across the world, of which more than half occurs in low- and middle-income countries and ischemic stroke is a major cause of long-term disability and has a profound effect on the quality of life of patients and caregivers, which is driving the demand for the effective diagnosis are expected to boost the growth of the mobile medical imaging services, due to the importance of early diagnosis of strokes.
Moreover, rising mobile health services is also expected to drive the growth of the market studied during the forecast period. For instance, in April 2021, The Stony Brook Cerebrovascular and Comprehensive Stroke Center (CVCSC) and the Stony Brook Renaissance School of Medicine Department of Emergency Services has launched a Mobile Stroke Unit. They will be essential expansions of stroke treatment, reaching patients earlier and saving more lives during the key 'golden hour' of stroke treatment. Patients will be taken to the nearest stroke centre, either a primary stroke centre or a Comprehensive Stroke Center, for treatment with this initiative. Rising initiatives of ambulatory stroke units will lead to increased adoption of the mobile medical imaging services, thereby expected to drive the growth of this segment.
Therfore, owing to the above mentioned factors, it is expected to show growth over the forecast period. However, high cost of mobile set up and imaging equipment and risk associated with radiation exposureare expected to hamper the market growth.
Key Market Trends
X-ray Service Segment is Expected to Hold a Major Share During the Forecast Period.
The X-ray service segment is expected to hold a major share in the market studied during the forecast period.
The major factors driving the growth of mobile X-ray services include advanced technology, a rising number of patients with chronic diseases along with an increasing geriatric population, and rising awareness regarding the availability of mobile X-ray services. For instance, in March 2021, Fujifilm India Private Limited launched a mobile digital radiology system - FDR nano which is lightweight and compact and also achieved approximately 80% reduction in its total weight as compared to traditional mobile X-rays. Thus, the advantages of portable systems and increasing product launches will lead to increased adoption of such imaging devices due to their lightweight and ease of carrying, therefore expected to drive the growth of mobile medical imaging services market significantly over the forecast period.
In addition, the rise in the expansion of the mobile X-ray services by the key market players is further expected to drive this segment growth. For instance, in March 2022, TridentCare, the national leader of portable diagnostic services, supported the 2022 Air Force Reserve Mountain West Basketball Championships. TridentCare has joined the onsite medical team to provide necessary emergency X-Ray services for the student-athletes throughout the tournament scheduled for March 6-12 at the Thomas & Mack Center in Las Vegas. Thus, rise in such initiatives will further drive the growth of the market studied due to higher adotption of mobile X-ray services.
Furthermore, rise in road injuries accross the globe is also expected to drive the growth of this segment due to rise in adoption of mobile X-ray imaging service. For instance, according to the Organisation for Economic Co-operation and Development (OECD), the number of traffic related injuries in Iceland and Israel in 2020 were 2589.6 and 1944 respectively per million people.
Therefore, owing to the aforementioned factors, this segment is expected to drive over the forecast period.
North America is Expected to Witness a Significant Share Over the Forecast Period.
North America holds a significant market share and is expected to continue its stronghold for a few more years. This can be majorly attributed due to advanced health infrastructure, increasing prevalence of diseases and infections, growing emphasis on the development of innovative products, and rising number of regional mobile medical imaging service providers, rising number of chronic diseases, among others. For instance, according to Arthritis Foundation data updated in October 2021, 1.5 million people in the United States have rheumatoid arthritis, where the arthritis most commonly begins between ages 30 and 60 in women. The high incidence of these chronic diseases surges the demand for accurate diagnosis and plan of efficient and on-time treatment by the healthcare provider. Hence, drives the growth of the studied market in North America.
In addition, Moreover, according to the article published in United States Pharmacist, titled ‘Stroke Prevalence and Risk Factors’ in January 2021, in the United States, the prevalence of nontraumatic hemorrhagic stroke is 13%, including intracerebral hemorrhage causes stroke in 10% of cases, and subarachnoid hemorrhage causes stroke in 3% of cases. The rising prevalence of hemorrhagic stroke in the developed counties such as United States will lead to increased adoption of diagnosis and treatment, thereby expected to drive the growth of this market in the United States.
Furthermore, in February 2021, TridentCare, a mobile medical imaging service provider has entered an exclusive relationship with MG Medical Products to offer the mobile Electrocardiography) patch solution to its skilled nursing and long-term care facility patients. Such type of services will drive the growth of the market studied in the United States due to rise in adopiton of such services.
Moreover, rise in acqusition in this region is further expected to contribute the growth of this market. For instance, in September 2021, Akumin Inc, a premier provider of outpatient radiology services in the United States has completed the acquisition of Alliance HealthCare Services, Inc. With this, Akumin offers the most comprehensive radiology and oncology solutions to patients in the United States operating in 46 states, with more than 1,000 hospital and health system customers, 154 independent outpatient radiology centers and 34 radiation therapy centers, and has over 4,000 team members serving more than two million radiology and oncology patient visits annually.
Therefore, owing to the above factors, the market is expected to drive over the forecast period.
Competitive Landscape
The market for mobile medical imaging is moderately competitive. The market is expected to drive to rise in collaboration among the key players and hospitals and other healthcare institutions, rise in acquisition by the key players, rise in mobile services, rise in telemedicine, among others. Some of the key players in this market include, Accurate Imaging Inc, Akumin Inc (Alliance Healthcare Services), Cobalt Imaging Center, DMS Health Technologies, Front Range Mobile Imaging, InHealth Group Limited, among others.
Additional Benefits:
- The market estimate (ME) sheet in Excel format
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This product will be delivered within 2 business days.
Table of Contents
1 INTRODUCTION
4 MARKET DYNAMICS
5 MARKET SEGMENTATION (Market size in USD million)
6 COMPETITIVE LANDSCAPE
Companies Mentioned (Partial List)
A selection of companies mentioned in this report includes, but is not limited to:
- Accurate Imaging Inc
- Akumin Inc (Alliance Healthcare Services)
- Cobalt Imaging Center
- DMS Health Technologies
- Front Range Mobile Imaging
- InHealth Group Limited
- Interim Diagnostic Imaging Inc
- Star Equity Holdings (Digirad Corporation)
- TridentCare
- RAYUS Radiology
- Atlantic Mobile Imaging
- MD Laboratory
Methodology
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