December 4, 2019 by Mike Williams
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. 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.
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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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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.
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