The global teleradiology market size is expected to reach over USD 4.1 billion by 2026, growing at a CAGR of 19.4% during the forecast period 2019 to 2026.
Teleradiology is the transmission of radiological patient images, such as x-rays, CTs, and MRIs, from one location to another for the purposes of sharing studies with other radiologists and physicians. Increasing demand of teleradiology for second opinion in emergency condition is major factor for the growth of market. Availability of teleradiology in multispecialty hospital is boosting the growth of market. Furthermore, penetration of product in developing region is major factor for the growth of market. For instance, in 2019, the Argus Radiology expands their personalized version of Teleradiology into Indiana. Increasing demand of urgent care clinics is major reason adopting teleradiology system, is major reason for propelling the teleradiology market.
Rapid adoption of the CT scanner owing to the ability to scanning speed, high power at low KVs allows to treat each patient as per individual needs, and reduction in x-ray exposure of about 40% compared with 64-slice CT will propel the demand of teleradiology market. The demand for the dual source CT scanner has rising significantly due to increasing prevalence of different diseases, rapidly developing in healthcare sector. Additionally, rising healthcare expenditure, growing healthcare infrastructure, and continuous development of the new and advanced scanners have fueled the growth of the teleradiology market. Moreover, increasing prevalence of different chronic diseases, rising geriatric population, and rapidly increasing number of healthcare organizations across the globe are likely to have a significant impact on hospital beds market during the forecasted period, 2018–2025. With the use of this second tube, reduce the noise in the images without exceeding the safe level of dose application. Teleradiology has sparked significant progress in numerous other fields of medical imaging –for all patients, regardless of their weight, age, and the general state of health. On the other hand, side effects of the treatment and exposure to the radiation may slow the growth of the teleradiology market.
The market research study on “Teleradiology Market - Global Industry Analysis, Market Size, Opportunities and Forecast, 2019 - 2026” offers a detailed outlook, strategic recommendations, and insightful viewpoints on the global Teleradiology market. The report also analyzes the key players operating in Teleradiology market and identifies the key strategies deployed by them along with the market share of leading players.
The global Teleradiology market is segmented as below:
Teleradiology Market By Techniques
Teleradiology Market By Technology
Teleradiology Market By End User
Teleradiology Market By Geography
The global teleradiology market segmented into imaging techniques, technology and end user. On the basis of imaging techniques, the market is segmented into x-rays, computed tomography (CT), nuclear imaging. Based on technology, the global teleradiology market is segmented into hardware, software. Based in end user, the market is segmented into hospitals, diagnostic centers.
Geographically, teleradiology market is segmented into North America, Europe, Asia Pacific, Latin America and The Middle East & Africa (LAMEA).
North America is expected to dominate teleradiology market during forecast period. High presence of geriatric patient suffering from different chronic diseases such as cancer, arthritis, heart disease, CNS related problem. This is major reason for conducting number of of CT-Scan, MRI which is increasing demand of teleradiology market for second opinion of doctor. Increasing consciousness about the health thereby, patient take always second opinion before performed surgery or major treatment. Presence of huge geriatric population, and continuously increasing demand for the advanced imaging technology will support the growth of the market.
Europe is expected to second leading region for teleradiology market. According to survey Among the 368 participants from 35 different countries, Belgium, Austria, UK and The Netherlands are major users of teleradiology market. In major application of teleradiology in house image transmission. In Europian country formation of Collaborative Diagnostic Networks (CDxN) is a tailor-made concept to develop efficient and seamlessly working radiology networks for consulting, managed services. Increasing geriatric population coupled with continuous development in the services has driven the growth of the teleradiology market in Europe. Germany, France, and U.K is expected to the major share holder in the Europe teleradiology market owing to the presence of huge patient pool and continuously increasing demand for the better imaging devices for the diagnosis of the various chronic diseases.
Asia Pacific market is expected to fasted growing market for teleradiology market. increase in penetration of the key players including GE Healthcare, Philips, and others, which fuels the teleradiology market growth. For instance, GE Healthcare adopted partnership with Teleradiology Solutions to widen its reach across India with Teleradiology’s proprietary Radiology Workflow Solution-RadSpa to make remote radiology reporting services available to healthcare providers. Presence of rapidly developing economies, huge population base and constructive government policies are driving the growth of the teleradiology market. During the last few years, the number of healthcare organization has risen significantly, which has also increased the demand for the teleradiology scanner.
LAMEA is expected to slow growth for teleradiology market. Increasing number multispecialty hospital is rising demand of teleradiology market. Africa holds the least share in the teleradiology market, however possess a huge opportunity for the teleradiology market. Continuously increasing demand for the various monitoring devices, increasing prevalence of the various diseases, and increasing healthcare spending will boost the growth of the Africa teleradiology market. Middle East holds the leading and mature market for the teleradiology.
Some of the key players in the global teleradiology include 4ways Healthcare Ltd.; ONARD; RamSoft, Inc.; Virtual Radiologic; Agfa-Gevaert N.V.; HealthWatch TeleDiagnostics Pvt. Ltd.; Everlight Radiology; Teleradiology Solutions; and Global Diagnostics.