Medical Physics Market to expand at a healthy CAGR of 6.4% over 2018-2028

Medical Physics Market to expand at a healthy CAGR of
6.4% over 2018-2028
Healthcare, Pharmaceuticals & Medical Devices
March 2019
Report Id : REP-GB-5274
Status : Publish
Category : Healthcare, Pharmaceuticals & Medical Devices
©2015 Future Market Insights, All Rights Reserved
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Medical Physics Market Analysis
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 20182028. 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.
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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.
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Medical Physics Market Analysis
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.
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Medical Physics Market Analysis
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.
©2015 Future Market Insights, All Rights Reserved
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Medical Physics Market Analysis
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.
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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.

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