The Global Teleradiology Market size is estimated to be USD 3.76 billion in 2019 and is predicted to reach USD 23.44 billion by 2030 with a CAGR of 18.1% from 2020-2030. Teleradiology is a branch of telemedicine which helps in the transmission of radiological images and other imaging information from one place to another for consulting and diagnostics purpose. Radiology involves the diagnostics imaging such as X-ray, CT scan, MRI and others which helps in the diagnosis of structural changes occurs due to the specific disease and disorders.
Market Dynamics and Trends
The developing and modernizing healthcare infrastructure with increased prevalence of various chronic disorders such as cancer, trauma cases, and others are expected to enhance the market growth. Furthermore, increase in technological advancement coupled with increased integration of healthcare IT are also expected to fuel the growth of teleradiology market.
The other factors include increase in government expenditure to further couple with increase in orthopedic disorders and increase in patient pool are also expected to further promote the market growth. However, lack of skilled radiologist and lack data security are expected to inhibit the growth of teleradiology market. Furthermore, increase in strategic collaboration and innovations are also expected to create lucrative opportunities in the teleradiology market.
Market Segmentations and Scope of the Study:
The global teleradiology market share is analyzed on the basis of imaging technique, technology, end user and geography. On the basis of imaging technique, the market is segmented into X-rays, Computed Tomography (CT), Ultrasound, Magnetic Resonance Imaging (MRI), nuclear imaging, Fluoroscopy, Mammography, and Others. Based on technology, the market is fragmented into hardware, software, telecom and networking. The software is sub segmented into Picture Archiving and Communication System (PACS) and Radiology Information System (RIS). The Telecom & Networking is further divided into Web-Based Teleradiology Solutions and Cloud-Based Teleradiology Solutions. On the basis of end user, the market is divided into Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Asia-Pacific, Europe, and RoW.
North America is expected to account for the major market share owing to the increased adoption of teleradiology services. Furthermore, increase in technological advancement and increase in healthcare infrastructure and increased prevalence of chronic disorders are further expected to accelerate the growth of teleradiology market.
Asia Pacific is expected to show rapid growth over with gradual increase in market share owing to the increasing accessibility to healthcare facilities and increase in disposable income. Moreover, increase in digital diagnostics coupled with increase in government initiatives are further expected to augment the growth of teleradiology market in the near future.
The teleradiology market, which is highly competitive, consists of various market players. Some of the major market players include 4ways Limited, Siemens AG, Global Diagnostics Limited, Koninklijke Philips N.V., Mednax, Inc., GE Healthcare, Agfa-Gevaert Group, Everlight Radiology, Fujifilm Medical Systems, Inc and Radisphere National Radiology Group, Inc. among others.
Over the period of time there have been various developments taken place in the market which is also expected to takes place in near future and contribute the overall market growth. For instance, in December 2019, Agfa-Gevaert Group announced that it has entered into exclusive negotiations with Dedalus Holding S.p.A. to sell a part of its HealthCare IT business. The Business consists of the Healthcare Information Solutions and Integrated Care activities, as well as the Imaging IT activities to the extent that these activities are tightly integrated into the Healthcare Information Solutions activities.
- The teleradiology market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the teleradiology market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the teleradiology market is provided in the report.
- The competitive analysis of the market players along with their market share in the global teleradiology market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Teleradiology market – By Imaging Technique
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Nuclear imaging
- Global Teleradiology market – By Technology
- Picture Archiving and Communication System (PACS)
- Radiology Information System (RIS)
- Telecom & Networking
- Web-Based Teleradiology Solutions
- Cloud-Based Teleradiology Solutions
- Global Teleradiology market – By End User
- Ambulatory Surgical Centers
- Diagnostic Centers
- Global Teleradiology market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America