Published by mark itwired
Posted on September 20, 2021
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.
Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-5274
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.
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.
The post Medical Physics Market Impacted by COVID-19, Market to Remain Dormant in Near Term, Projects FMI 2017 -2027 first appeared on Market Research Blog.
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.
Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-5274
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.
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.
The post Medical Physics Market Impacted by COVID-19, Market to Remain Dormant in Near Term, Projects FMI 2017 -2027 first appeared on Market Research Blog.
Explore more articles in the Research Reports category
