LeapZipBlog: Jason Lee's blog: Global Teleradiology Market Accounted for $2,709 million in 2017

Global Teleradiology Market Accounted for $2,709 million in 2017

September 21, 2019 by Jason Lee  

The global teleradiology market accounted for $2,709 million in 2017 and is expected to reach $10,621 million by 2025, at a CAGR of 18.4% from 2018 to 2025.

Teleradiology is a service that has medical images construed by a radiologist from a distant location. These interpretations are made through several imaging techniques including CT, MRI, ultrasound, nuclear medicine, X-rays, and others, and help in suitable disease diagnosis that is followed by its appropriate treatment. Moreover, it allows storage of digital radiograph images through software such as picture archiving and communication system (PACS) and radiology information system (RIS). Teleradiology is widely being used by diagnosis centers, hospitals, and others.

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Teleradiology is an advanced technology that has emerged due to the imbalance between demand and availability of diagnostic services. This is evident from the fact that high demand for radiology services in countries such as the U.S., Singapore, and the UK, was often unfulfilled, owing to dearth of skilled and specialized professionals specific to teleradiology. For instance, there is an increase in the number of CT scans being performed in the U.S., however, there is a persisting shortage of radiologists in the country. All these challenges were met by teleradiology and thereby, led to the growth of tele-based technologies and surge in demand for teleradiology techniques globally.

Significant rise in demand for teleradiology services due to high prevalence of chronic diseases such as congestive heart failure and orthopedic injuries, is the major factor that drives the growth of the teleradiology market. Further, increase in government expenditure on the healthcare information (HCIT) sector and rise in focus of key players toward bringing innovation to digital diagnostics further fuels the market growth. However, low availability of broadband networks and shortage of skilled radiologists restrain the market growth. Moreover, continuous advancements in medical diagnostic technologies are expected to provide lucrative opportunities for the growth of the teleradiology market during the forecast period

The teleradiology media market is segmented based on imaging techniques, technology, end user, and region. The imaging techniques covered in the study include X-rays, computed tomography (CT), ultrasounds, magnetic resonance imaging (MRI), nuclear imaging, fluoroscopy, mammography, and others. Based on technology, the market is categorized into hardware, software and telecom & networking. Depending on end user, the market is classified into hospitals, ambulatory surgical centers, diagnostic centers and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.

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KEY BENEFITS FOR STAKEHOLDERS

ü The study provides an in-depth analysis of the global teleradiology market along with the current trends and future estimations to elucidate the imminent investment pockets.
ü A comprehensive analysis of the factors that drive and restrict the market growth is provided.
ü A comprehensive quantitative analysis of the industry is provided from 2018 to 2025 to assist stakeholders to capitalize on the prevailing market opportunities.
ü An extensive analysis of the key segments of the industry helps understand the global trends in the teleradiology market.
ü Key players and their strategies are provided to understand the competitive outlook of the industry.

KEY MARKET SEGMENTS
By Imaging Techniques
• X-rays
• Computed Tomography (CT)
• Ultrasound
• Magnetic Resonance Imaging (MRI)
• Nuclear imaging
• Fluoroscopy
• Mammography
• Others
By Technology
• Hardware
• Software
§ Picture Archiving and Communication System (PACS)
§ Radiology Information System (RIS)
• Telecom & Networking
§ Web-Based Teleradiology Solutions
§ Cloud-Based Teleradiology Solutions
• By End User
o Hospitals
o Ambulatory Surgical Centers
o Diagnostic Centers
o Others
• By Region
o North America
• U.S.
• Canada
• Mexico
o Europe
• UK
• France
• Germany
• Italy
• Russia
• Spain
• Rest of Europe
o Asia-Pacific
• Japan
• China
• India
• South Korea
• Australia
• Rest of Asia-Pacific
o LAMEA
• Saudi Arabia
• South Africa
• Brazil
• Turkey
• Venezuela
• Rest of LAMEA

KEY MARKET PLAYERS
• Siemens AG
• 4ways Limited
• Teleradiology Solutions
• Mednax, Inc.
• Koninklijke Philips N.V.
• GE Healthcare
• Everlight Radiology
• Agfa-Gevaert Group
• Radisphere National Radiology Group, Inc.
• Fujifilm Medical Systems, Inc.
The other players in the value chain include (profiles not included in the report)

  • Cybernet Medical Corporation
    • Spectra AB
    • Medica Reporting Ltd.
    • Radiology Reporting Online (RRO)
    • Sectra Imtec AB
    • StatRad, LLC
    • Ramasift Inc.
    • Alta Vista Teleradiology

 

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