Perfusion Radiology Market Size

Perfusion Radiology Market Overview

Perfusion Radiology Market Size was valued at USD 2.34 Billion in 2023. The Global Perfusion Radiology industry is projected to grow from USD 2.42 Billion in 2024 to USD 3.17 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 3.78% during the forecast period (2024 - 2032). 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 Dynamics

Drivers

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.

Restraints

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. 

Technology Analysis

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. 

Study Objectives

• To predict a possible CAGR growth of the perfusion radiology industry and the attainable market valuation considering the valuable opinion of the industry leaders and key market experts. Also, witnessing the technical analysis of the market and noticing the market dynamics in the form of growth opportunities for the market and restraints in the way of growth.


• To analyze the production of the perfusion radiology industry in various geographies of the world and notice the strategies that are helping the regional markets gain recognition on the global scale


• To study the market and growth strategies of the prominent market players, understand their production and revenue model, and subsequently, draw a competitive landscape amongst them. 

Perfusion Radiology Market Segmentation

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. 

Perfusion Radiology Market Regional Analysis

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. 

Key Players in the Perfusion Radiology Market 

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: 

• GE Healthcare (US)


• Advantis Medical Imaging (Netherlands)


• Koninklijke Philips N.V. (Netherlands)


• Siemens Healthineers AG (Germany)


• Lantheus Medical Imaging, Inc (US)


• Neusoft Corporation (China)


• Shimadzu Corporation (Japan)


• Canon Medical Systems Corporation (Japan)


• Perimed (US)


• Bracco Diagnostic, Inc. (Italy) 

Recent Developments

• The APAC region is expected to witness very fast growth in the region because of the presence of mushrooming economies and key players in regions like South Korea, India, and China.


• In January 2018, Fast Track Diagnostics was acquired by a German Company - Siemens. This helped a major role in expanding the company’s diagnostics portfolio on a global scale.


• Signa Premier - a 3.0T MRI system belonging to GE got approval from the Canadian health system. This took place in March 2018. The result of this was an expansion of the company’s portfolio on a large scale.


• Core Medical Imaging Inc. was acquired by Shimadzu Corporation in January 2019. This acquisition played a major role in strengthening the company’s healthcare services and business in the North American region. Gradually, the company gained a stronghold over the perfusion radiology market. 

Report Overview

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.