Medical Physics Market: An Insight On the Important Factors and Trends Influencing the Market
VALLEY
COTTAGE, N.Y. , April 01, 2019 (GLOBE NEWSWIRE) -- According to the latest
research by Future Market Insights (FMI), the global market for medical physics will exceed the valuation of US$ 6
billion towards the end of projection period.
Prominently
driven by the growth of medical tourism sector and increasing expanse of
diagnostics, the global revenue of medical physics market will reportedly
thrive at a healthy over-6% CAGR during 2018-2028. Growing adoption of nuclear
medicine has also been cited as an important factor responsible for a positive
growth outlook anticipated for medical physics market.
However,
the report also highlights that the insufficient availability of skilled
workers and relatively poor healthcare infrastructure for medical physicist
trainings in developing regional markets will continue to restrict penetration
of medical physics in the long run.
The ‘Outsourcing’ Trend Is Creating Firm Base for Merger &
Acquisition Strategies
With
the consolidation of hospitals, there is an increasing need for larger firms in
the medical physics market, with an intent to handle the outsourced services so
as to contract with fewer services providers. The medical physics market is characterised by the presence of
small independent companies, and there is a negligible number of large-scale
operators. According to the report, this presents opportunities for private
equity firms to enter the middle-market platform and scale-up their
medium-scale operations to large-scale operations through the acquisition of
smaller firms.
Other
factors driving mergers and acquisitions in the medical physics market include
increasing stringent regulations and an increasing number of owners looking to
exit the medical physics business. Increasing stringent regulations have
resulted in the inspection of a larger number of machines and associated
elements. Several healthcare systems are incurring higher risks due to the
increasingly stringent regulations. This opens opportunities for medical
physics companies to ensure compliance and reduce operation cost by
outsourcing. Furthermore, most of the medical physics firms are owned and
operated by baby boomers who are about to retire from their medical physics
business. For a majority of those medical physics service providers who are
retiring, selling their business has been considered to be the most preferred
option.
Some
of the other trends in the medical physics market include increased outsourcing
by healthcare providers, increasing number of independent diagnostic imaging
centres, and advancements & adoption of technology across the world.
Segmental Insights: Medical Physics Market
- Diagnostic modality, driven by
increasing adoption of diagnostic procedures such as PET, SPECT, CT, and
MRI, will continue to account for more than 65% share of the total medical
physics market value.
- Based on services,
accreditation assistance is slated to remain dominant, followed by safety
surveys. The report anticipates physics testing and regulatory and
auditing services to emerge highly potential.
- Following hospitals, diagnostic
imaging centers are likely to register significant adoption rate in the
medical physics market through 2027.
The
North American and European medical physics market will reportedly account for
a majority of market value, according to FMI’s analysis on medical physics
market. The report has attributed this dominance to rapid consolidation of
healthcare facilities in these regions.
Some
of the key players in the medical physics market include Krueger-Gilbert Health
Physics, Inc., LANDAUER, Medical Physics Services, Medical Physics Services
Consultants, Inc., Alyzen Medical Physics Services, Radiation Safety &
Control Services, Inc., Upstate Medical Physics Services, Dade Moeller &
Associates, Versant Medical Physics Services & Radiation Safety, Alliance
Medical Physics Services LLC, West Physics Consulting, LLC, Associates in
Medical Physics Services, Radiation Services, Inc., Jaeger Corporation, and
Petrone Associates, LLC.
About Us
Future
Market Insights (FMI) is a leading market intelligence and consulting firm. We
deliver syndicated research reports, custom research reports and consulting
services which are personalized in nature. FMI delivers a complete packaged
solution, which combines current market intelligence, statistical anecdotes,
technology inputs, valuable growth insights and an aerial view of the
competitive framework and future market trends.
Contact Us
Mr.
Abhishek Budholiya
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
Future Market Insights
616 Corporate Way, Suite 2-9018,
Valley Cottage, NY 10989,
United States
T: +1-347-918-3531
F: +1-845-579-5705
T (UK): + 44 (0) 20 7692 8790
Sales: sales@futuremarketinsights.com
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