Global Teleradiology Services Market Report, Insights and Trends, Positive and Negative Factors, Areas to Focus on, Potential Markets, Key Developments, Segments and Verticals, and Forecast 2020 – 2029
Teleradiology Services: Overview
“The global Teleradiology Services market size is expected to be worth around US$ xx Billion by 2021 from US$ X.xx million in 2031, growing at a CAGR of X.x% during the forecast period 2021 to 2031.”
Teleradiology refers to the transmission of images obtained from radiology tests such as CT scans, MRIs, and X-rays from one destination to another in order to offer faster services to diagnostic centers and hospitals in emergencies.
Teleradiology also helps to systemize and reduce the workload occurring due to huge volumes of radiology scans.
This service can prove to be of great importance as it allows healthcare professionals to share and communicate about a case and to gain a second opinion by expertise, which further helps healthcare providers to offer the best treatment to patients.
Drivers, Restraints, and Trends: Global Teleradiology Services Market
Increasing initiatives by the government of various countries for teleradiology is a major factor expected to drive the growth of the global market to a significant extent.
In September 2019, for instance, as per a published news article, the Maharashtra State government, India announced that they plan to partner with teleradiology providers in order to overcome the issue of radiologist shortage, particularly in rural and remote areas of Maharashtra.
In addition, in 2017 for instance, Saudi Arabia-based Al-Ahsa Health Affairs implemented a project in order to offer efficient radiology services and to overcome concerns related to the dearth of radiologists.
The increasing global prevalence of various chronic diseases and disorders such as liver disorders, brain injuries, and types of cancer has led to the increasing requirements for devices such as medical imaging, CT scan, etc.
Increasing penetration of technologically advanced software such as Radiology Information Systems and Picture Archiving and Communication systems, especially in developed countries including the UK, Italy, and Germany, is projected to support the growth of the target market.
Improving healthcare-IT infrastructure, adoption of cloud-based services, and availability of high bandwidth Internet connectivity are primary factors expected to support the growth of the target market.
However, the dearth of skilled radiologists in order to meet ever-increasing patient needs is a major issue among the hospitals as well as imaging centers. This is a major factor that could hamper the growth of the global teleradiology services market.
Segment Analysis: Global Teleradiology Services Market
Analysis, by End User:
The hospital segment and ambulatory surgical centers segment are expected to record higher revenue shares in the global teleradiology services market.
The hospital segment’s contribution is due to a higher number of patient footfalls in hospitals as compared to diagnostic centers, clinics, and other healthcare setups.
Region Analysis: Global Teleradiology Services Market
The Asia Pacific teleradiology market is expected to dominate the global market with the highest revenue contribution of more than 35%.
Major factors driving Asia Pacific market growth include the strong presence of teleradiology service providers, particularly in Australia and India the region, the availability of skilled and well-trained professionals or radiologists, and higher adoption of these services in the region.
For instance, in countries such as Japan, on average, one radiologist is handling more than one imaging device. Thus, the huge gap or uneven ratio of imaging devices and radiologists is expected to lead to higher adoption of outsourcing of teleradiology services such as onshore and offshore.
The Middle East and Africa market is projected to register a moderately higher CAGR over the 10-year forecast period. Steadily increasing adoption of these services by hospitals in the countries in the region including UAE, Kenya, and Saudi Arabia, among others is a major factor driving the Middle East & Africa teleradiology services market.
The growing healthcare industry, allowance of 100% FDI and other government initiatives, and improving healthcare-IT infrastructure for teleradiology are among the major factors projected to drive market growth in this region.
In 2017 for instance, Kenya- based St. Francis Community Hospital started using teleradiology in order to enable cost-saving and reduce patients’ wait-time for X-ray and CT scans.
The markets in North America and Europe are projected to contribute significantly higher revenue shares in the global market, due to the presence of a larger number of radiologists, and a higher number of patient footfalls in hospitals in the regions.
Global Teleradiology Services Market Segmentation:
Segmentation by Type:
Segmentation by Modality:
Segmentation by Technology:
- Picture Archiving and Communication System (PACS)
- Radiology Information System (RIS)
- Telecom & Networking
- Web-Based Teleradiology Solutions
- Cloud-Based Teleradiology Solutions
Segmentation by End User:
- Ambulatory Surgical Centers
- Diagnostic Centers
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Teleradiology Solutions
- Virtual Radiologic Corp
- Medica Group
- Everlight Radiology
- Telemedicine Clinic (TMC)
- USARAD Holdings Inc.
- Argus Radiology
- TeleDiagnosys Services Pvt. Ltd.
- ONRAD, Inc.
- StatRad, LLC
- Aris Radiology
- NightShift Radiology
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