Teleradiology Market Size & Forecast Report, 2013 - 2024

The global Teleradiology Market size is expected to reach USD 8.2 billion by 2024, with a CAGR of over 19.1%. Teleradiology can be defined as the exercise of a radiologist who interprets (reading) medical descriptions about those who are not actually there in the place where the descriptions are generated. Portable imaging companies, hospitals, imperative care facilities, and even a few personal practices utilize teleradiology services. Teleradiology services can reduce patient worries by making it achievable for radiologists to offer their services excepting the need to be in the same place. In the past few years, teleradiology was barely used in emergencies, owing to the internet; this exercise started spreading very fast. Teleradiology makes it easy to remit images as it is to remit emails that have attachments.

Computer programs are there which are devoted exclusively to the spread of radiological pictures. All these development end results in teleradiology service are turning into a noteworthy medical exercise and it carries on rising over the forecast period. Teleradiology services tend to link the breach between the unwarranted requirement and supply of diagnostic services and radiologists around the globe. Teleradiology services assist to transmit radiological images such as MRIs, CTS, and MRIs from one place to a different place for sharing the descriptive images among other physicians and radiologists. By utilizing technologies such as, Internet, cloud storage, wide area network, local area network (LAN), telephone lines, as well as voice recognition, image compression, and, advanced graphics processing, teleradiology allows physicians to help their patients from a distant place, in addition, ion to which making ‘second opinions ‘becomes much easier Electronic descriptive image transmission in the digital set-up is done with the intention to consult or diagnose, and the expansion and innovation in the area of digital imaging technology is expected to fuel the growth of the global teleradiology market over the forecast period.

Teleradiology generates the highest revenue and is the most mature segment of the industry in the telehealth technologies industry. Advancement in the field of digital technology has transformed teleradiology services into an effective means to transfer significant data about patients. Furthermore, technological advancement is expected to propel the growth of the global teleradiology market over the forecasted period. Increasing usage of cellular phones, personal digital assistants, patient monitoring systems, and other wireless devices like mobile health services are expected to fuel the growth of the global teleradiology market over the forecasted period. Lack of security for imaging data coupled with the high cost of technology is likely to negatively shape the global teleradiology market over the forecast period. New developments in the field of global teleradiology such as radiology information systems (RIS)) and picture archiving and communication systems (PACS) are expected to open new opportunities for the market over the forecasted period.

Obligation to subordinate the healthcare expenditure has made the healthcare services provider contract out the analysis of radiology images to budding and low-cost countries. The simplicity of entry for the new entrant in the teleradiology services has resulted in advanced competition in the market, with a greater number of teleradiology service providers. The aforementioned factor is also expected to drive the growth teleradiology market over the forecast period. Increasing digitalization is also expected to help and improve the teleradiology market over the forecast period

On The Basis of various imaging modalities, the global teleradiology market can be segregated into four major parts such as magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging-ray, and ultrasound. The X-ray section of the global teleradiology market has dominated the larger part of the teleradiology market in past few years. Moreover, ultrasound imaging is expected to witness more preference over X-ray and MRI over the forecasted period owing to the fact as the patient is exposed to a lesser amount of radiation. CT scan imaging technology is also increasing owing to the fact as it allows more ability to detect abnormalities in the pancreas, liver, and others. An increasing number of healthcare institutions' radiologic understanding of CT scans is also increasing. High costs attached and Shortage of technical skills to MRI and nuclear imaging are some of, the parts that will nurture slowly over the forecast period.

On the basis of region, the global teleradiology market can be segregated into four parts that are. Asia Pacific, North America, Europe, and others. In the past few years, North America has led the global teleradiology market. The foremost factors accountable for the enlargement of the teleradiology market in North America are the rise in expenditure of healthcare companies, rapid innovation in medical approaches, and well-equipped hospitals. The Asia Pacific is expected to see a faster growth rate over the forecast period owing to flourishing new companies in the Countries like India. Teleradiology services providers in India are capable of conquering the shortage of radiology services by providing imaging services to a healthcare institution when radiologists are not accessible in parts of North America such as the US.

Time zone benefit is one more main thing that has been contributing to the growth of teleradiology in India and is expected to drive the growth over the forecast period. The key vendors in the Teleradiology market are Teleradiology Solutions, Sectra AB, Cybernet Systems Corporation, Virtual Radiologic, American Telecare Inc, and StatRad.

Market Segmentation

Teleradiology Product Outlook, by Revenue (USD Million, 2013 - 2024)
    • X-ray
    • Magnetic Resonance Imaging (MRI)
    • Ultrasound
    • Computed Tomography (CT)
    • Nuclear Imaging

Teleradiology Regional Outlook, by Revenue (USD Million, 2013 - 2024)
    • North America
        • U.S.
        • Canada
    • Europe
        • UK
        • Germany
    • the Asia Pacific
        • China
        • Japan
    • Latin America
        • Brazil
    • MEA
        • South Africa