Absolute Markets Insights (AMI) reports a robust forecast for the teleradiology market during the 2021-2029 period. In its newly released report, AMI anticipates the market will grow at 14.1% as an increase in the elderly population which is leading to an increase in the incidence of related diseases around the world. AMI reports that the market stood at a valuation of US$ 3947.43 Mn in 2020.
Computed Tomography Segment is expected to Register Highest Growth Rate over the Forecast Period
According to Absolute Market Insights’ report, the computed tomography segment is anticipated to grow at the highest rate over the period of next eight years. The increasing need for effective and timely diagnosis, and digitalization in this field is driving the growth of the teleradiology market for this segment. According to the World Health Organization, more than 100 million CT scans are performed each year around the world. CT scans have become more popular than other imaging techniques as a result of the need to avoid exploratory surgeries and advances in cancer diagnosis
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The World Health Organization (WHO) has also identified telemedicine as an important step in strengthening the health-care system's response to COVID-19. The WHO also recommended telemedicine as an alternative model for improving clinical performance and guiding decisions in the context of optimizing service delivery. Teleradiology, one of the forms of telemedicine, has gained widespread acceptance as a way for diagnostic radiologists to interpret images and read films while on call. Moreover, the increasing prevalence of chronic diseases such as cancer is driving the diagnostic imaging process. As a result, the demand for teleradiology solutions is expected to accelerate in the coming years.
Solutions and Services Segment to Retain their Market Share in the Offering Segment over the Forecast Period
The solutions and services offerings are estimated to retain their largest market share in the global teleradiology market over the forecast period. Diagnostic centers and hospitals are rapidly investing towards digitisation of their infrastructure, thereby contributing towards the segment’s growth in the global market. The rise in demand is also attributed to the high prevalence of chronic diseases such as congestive heart failure and orthopaedic injuries amongst other disease indications.
According to the Radiological Society of North America (RSNA), radiology exams using advanced modalities increased by 43 percent in 2020. Teleradiology market participants are actively contributing to the development of new and advanced technologies. For instance, Philips Healthcare debuted its Radiology Operations Command Centre at RSNA 2020. The centre allows employees to remotely access the control rooms of any CT or MRI scanner in their facility. It allows a radiation therapy (RT) from anywhere in the enterprise to enter any of the healthcare systems' CT control rooms in seconds and access the room using cameras.
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Hospitals Segment Dominated the Teleradiology Market
One of the main reasons for the dominance of hospitals segment is that several number of imaging equipment are located in these facilities and the number of hospitals & clinics outweigh the other medical facilities. These facilities are frequently open at all hours of the day and receive medical emergencies that require immediate radiologists' assistance. As a result of these factors, this segment is expected to continue their dominance in the teleradiology market during the forecast period.
Asia Pacific Region to Register Highest Growth Rate over the Period of Next Eight Years
AMI reports that Asia Pacific region will grow at the fastest rate in the coming years as population in major countries like China continues to age, and opportunities for commercialisation steadily increase. Moreover, increased penetration of major players such as GE Healthcare, Philips, and others, in the region, is boosting the teleradiology market forward. For instance, GE Healthcare partnered with Teleradiology Solutions to expand its reach across India by making remote radiology reporting services available to healthcare providers through Teleradiology's proprietary Radiology Workflow Solution, RadSpa.
Some of the key players in the global teleradiology market are Agfa-Gevaert Group, Cerner Corporation, Koninklijke Philips N.V., McKesson Corporation, MedWeb LLC, Novarad Corporation, ONRAD, Inc., Siradix Pvt Ltd, TeleDiagnostic Solutions Pvt. Ltd., Universal MedNet, and USARAD.COM, amongst other market participants
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Global Teleradiology Market:
- By Offering
- Hardware
- Solutions
- Picture Archiving and Communication System (PACS)
- Radiology Information System (RIS)
- Services
- Implementation Services
- Training & Education Services
- Support Services
- Others
- By Imaging Technologies
- Computed Tomography
- Positron Emission Tomography (PET)
- Mammography
- Magnetic Resonance Imaging (MRI)
- Ultrasound
- X-Ray
- Others
- By Organization Size
- Large Organizations
- Small and Medium Organizations
- By End Users
- Hospitals
- Diagnostics Centers
- Radiology Groups
- Urgent Care Centers
- Others
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
- North America
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