Global Teleradiology Market was valued US$ 2.8 Bn in 2018 and is expected to reach US$ 11.2 Bn by 2026, at CAGR of 18.92 % during forecast period.
An increasing necessity for transmission of radiological images using a range of digital technologies supported by telecommunication in medical emergencies is boosting the demand for teleradiology. Recent advancements in web technologies in healthcare systems, particularly wireless image transmission systems, have enhanced the market.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Growing prevalence of cancer is one of the major reasons driving a rise in revenue growth of the teleradiology market. According to the National Institute of Cancer, about 449 new cancer cases per 100,000 men and women are diagnosed each year in the USA. Moreover, approximately 39% of men and women are expected to be diagnosed with cancer during their lifetime. The American Society of Clinical Oncology estimates that nearly 4000 children and teenagers and nearly 24,000 adults in the USA were expected to have either brain or central nervous system cancer in the year 2017.
However, the growth is particularly beset by the high cost of setting up infrastructures for teleradiology, given the lack of funds in emerging countries in numerous parts of the globe. Additionally, the glaring lack of a reliable internet connection or poor state of broadband connections in rural areas is a major deterrent to the steady expansion in the global market.
Based on the imaging technique, The Computed Tomography (CT) scan is projected to register the fastest growth during the forecast period. High usage rates, faster testing rate, high-resolution imaging capacity, and introduction of new generation systems, like 3D and 4D, are some of the factors supplementing the growth of the segment.
On the basis of technology, the hardware segment like video conferencing units and store-and-forward units was the largest segment in the teleradiology market in 2018. The video conferencing units allow live conversation with multiple parties at different locations. Teleradiology utilizes teleimaging equipment as store-and-forward systems, which aids the specialists to share diagnostic images through filmless technology.
Region-wise, North America market for teleradiology is expected to grow at the highest CAGR during the forecasted period. Demand for teleradiology was uppermost in North America particularly in the USA, boosting the teleradiology market. Europe was the second biggest market chased by the APAC. The Asia Pacific is likely to be developing at highest CAGR in the years to come market for the teleradiology.
Several major players operating in the teleradiology market globally. Teleradiology Solutions Pvt. Ltd offers teleradiology services. It delivers emergency musculoskeletal, nighthawk services, thoracic, cardiovascular, neuro, ultrasound, digitized Xrays, and nuclear imaging services; CT angiograms and post-processing, and MR angiograms. The Teleradiology Solutions Company also proposals calcium scoring, CT colonoscopy and bronchoscopy services, and endovascular stent graft studies, clinical trials radiology services & second opinion services.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Global Teleradiology Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Global Teleradiology Market.
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Scope of the Global Teleradiology Market
Global Teleradiology Market, By Imaging Technique
• Computed Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Nuclear imaging
Global Teleradiology Market, By Technology
o Picture Archiving and Communication System (PACS)
o Radiology Information System (RIS)
• Telecom & Networking
o Web-Based Teleradiology Solutions
o Cloud-Based Teleradiology Solutions
Global Teleradiology Market, By End User
• Ambulatory Surgical Centers
• Diagnostic Centers
Global Teleradiology Market, By Region
• North America
• Asia Pacific
• Middle East and Africa
• South America
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