Global Teleradiology Market Size, Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts to 2030

Teleradiology is a branch of telemedicine that has medical images construed by a radiologist from one location to another for diagnostic and consulting purpose. This facilitates patient care by allowing radiologists in providing services by removing the distance barrier as well as taking care of patient without being physically present at the patients' venue. And also interpretations through non-invasive imaging techniques such as CT, MRI, ultrasound, and nuclear medicine studies and X-rays, and in help proper disease diagnosis and its treatment that is followed by its appropriate treatment. It allows storage of digital radiograph images through picture archiving and communication system (PACS) and radiology information system (RIS) software, which is widely used by urgent care clinics, hospitals, and mobile imaging companies. This has guarantees on-site solutions with remote access through cloud network globally and real-time interpretation. This is especially important when there is a need for a sub-specialist including MRI radiologist, paediatric radiologist, and neuroradiologist. The reason being, these specialists are usually located only in large metropolitan areas that function during the days which allows for the availability of qualified experts 24/7. The technology uses standard network devices (wide area networks, internet, telephone lines, and local area network) and specialized technology (advanced graphic processing, artificial intelligence, voice recognition, and image compression) is used to transmit images, enabling the radiologist to analyse multiple images for a particular study. These images are sent to the distinct locations around the globe by TV radiology viewers. The global teleradiology market was expected at USD 3320.2 million in 2020 and is expected to reach USD 17674.4 million by 2030 with a CAGR of 18.2% during the forecast period.
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Market Dynamics and Factors:
The rapid geriatric population base and the technological advancements in healthcare expenditure paired with elevated occurrence of chronic disorders is one of the major drivers for the growth of the global teleradiology market. Moreover, significant increase in government expenditure on healthcare information sector and rise in focus of key players toward bringing innovation to digital diagnostics are some of the other main factors which will drive the teleradiology market during forecast time. However, the lack of skilled technicians & radiologists are responsible to restrain the market growth. Furthermore, growing number of imaging tests, rising R&D activities related to e-health, and increasing implementation of PACS and RIS are also boosting the growth of these markets during the next coming years. On the rather hand, high rates of penetration by internet and smartphones paired with elevated healthcare awareness amongst patients are creating immense opportunities for the teleradiology market growth during forecast timeframe. Furthermore, ongoing global efforts aimed at improving the understanding of disease diagnosis and management through education programs are considered to be the challenge for teleradiology market in upcoming years.
Market Segmentation:
Global Teleradiology Market – By Imaging Technique
X-Rays
Computed Tomography (CT)
Ultrasound, Magnetic Resonance Imaging (MRI)
Nuclear Imaging
Fluoroscopy
Mammography
Others
Global Teleradiology Market – By Technology
Hardware
Software
Telecom & Networking
Others
Global Teleradiology Market – By End-User
Hospitals
Ambulatory Surgical Centers
Diagnostic Centers
Others
Global Teleradiology Market – By Geography
North America
U.S.
Canada
Mexico
Europe
U.K.
France
Germany
Italy
Rest of Europe
Asia-Pacific
Japan
China
India
Australia
Rest of Asia Pacific
ROW
Latin America
Middle East
Africa
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Geographic Analysis:
North America dominate the largest share accounted as 39.45% for the growth of the global teleradiology market in 2018 and is anticipated to continue this trend during the forecast period. This is due to higher amount of funding for R&D, patient awareness levels, and cancer prevalence in this region. In the United States, legislative amendments made by government for diagnostic imaging services will enhance the growth of teleradiology market during the forecast time zone. In addition, amendments in Australia’s Health Insurance Act 1973 for diagnostic imaging have enabled Medicare funding for these diagnostic imaging services from March 2008. The largest share of the U.S. can be attributed to high healthcare expenditure, high prevalence of target diseases, and availability of reimbursements. Europe holds the significant regional market which is attributed to the presence of target population and need for improved disease diagnosis. Additionally, Asia pacific is expected to fastest rate market owing to the rising demand for innovative and advanced medical platforms coupled with rapidly growing healthcare infrastructure during the forecast time frame. The rapid growth in population aging, improving and modernizing healthcare infrastructure, and favorable government initiatives for improving the healthcare facilities in rural areas are key factors for boosting demand for the teleradiology market in developing country such as China, India, Brazil, and Mexico.
Competitive Scenario:
The key players of global teleradiology markets are Siemens AG, Agfa-Gevaert Group, Virtual Radiologic, ONRAD, Inc., 4ways Healthcare Limited, Sectra AB, Global Diagnostics Ltd., RamSoft, Inc., Teleradiology Solutions, GE Healthcare, HealthWatch TeleDiagnostics Pvt. Ltd., and Everlight Radiology.
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How will this Market Intelligence Report Benefit You?
The report offers statistical data in terms of value (US$) as well as Volume (units) till 2030.
Exclusive insight into the key trends affecting the Global Teleradiology industry, although key threats, opportunities and disruptive technologies that could shape the Global Teleradiology Market supply and demand.
The report tracks the leading market players that will shape and impact the Global Teleradiology Market most.
The data analysis present in the Global Teleradiology Market report is based on the combination of both primary and secondary resources.
The report helps you to understand the real effects of key market drivers or retainers on Global Teleradiology Market business.
The 2021 Annual Global Teleradiology Market offers:
100+ charts exploring and analysing the Global Teleradiology Market from critical angles including retail forecasts, consumer demand, production and more
15+ profiles of top producing states, with highlights of market conditions and retail trends
Regulatory outlook, best practices, and future considerations for manufacturers and industry players seeking to meet consumer demand
Benchmark wholesale prices, market position, plus prices for raw materials involved in Global Teleradiology Market type
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