ARTICLE
8 November 2024

The Diagnostics Imaging M&A Market

Rising NHS diagnostic demand, with 1.6 million awaiting tests, is straining resources despite growth. Key private sector trends include leveraging flexible infrastructure, teleradiology, and government investments to alleviate delays and support NHS capacity.
United Kingdom Corporate/Commercial Law

Detecting what is happening to patients is critical to treating them, and diagnostic activity forms part of 85% of all NHS clinical pathways 1. Prompt diagnosis can also enable early detection, and ultimately save lives, time and money.

According to NHS England, c.1.6 million people were waiting for diagnostic tests at the end of August 2024 2. However, following a dip in testing during COVID-19, the number of monthly diagnostic tests has been growing at a much faster rate, expanding at a c.8.1% CAGR from 2021-2024 3.

This growth in testing, however, is not keeping pace with the growth in demand, and creates an added pressure on a stretched workforce.

Key trends propelling the private sector include:

  • Lengthy NHS waiting times continue to spotlight the immediate need for additional diagnostics capacity
  • Committed government investment continues to present an attractive opportunity for private operators capable of supporting the NHS
  • Flexible or mobile infrastructure is playing an increasingly important role supporting Integrated Care Systems looking to share resources or maximize budgets
  • Teleradiology services are being increasingly leveraged to augment throughput and alleviate demand pressures

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Footnotes

1. "Community Diagnostic Centres – Guidance for planning, design and implementation" – NHS England

2. NHS Diagnostic Waiting Times and Activity Data – August 2024" – NHS England

3. A&M estimate: reflects an estimate of full-year 2024 activity based on the annualisation of actual NHS activity reported until Aug-24

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