You are currently viewing Global Teleradiology Market to be driven at a CAGR of 22% in the Forecast Period of 2023-2028

Global Teleradiology Market to be driven at a CAGR of 22% in the Forecast Period of 2023-2028

The new report by Expert Market Research titled, ‘Global Teleradiology Market Size, Share, Price, Trends, Report and Forecast 2023-2028’, gives an in-depth analysis of the global teleradiology market, assessing the market based on its segments like component, imaging technique, end use, and major regions like Asia Pacific, Europe, North America, Middle East and Africa and Latin America.

The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.

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The key highlights of the report include:

Market Overview (2018-2028)

• Historical Market Size (2020): USD 6.6 Billion
• Forecast CAGR (2023-2028): 22%
• Forecast Market Size (2028): USD 21.8 Billion

The global teleradiology is driven by factors such as growing prevalence of chronic diseases, demand for rapid diagnostics and increasing advancements by the major market players. Additionally, factors like rising geriatric population, increasing awareness for advantages of teleradiology, growing healthcare infrastructure, and initiatives by the government pushes the growth further. Additionally, the rapid developments in the field of eHealth aids to the market growth in the forecast period.

Industry Definition and Major Segments

Teleradiology is a branch of telemedicine which involves transmission of medical images such as MRIs, CAT Scan, X-Rays. It utilizes network technologies such as WAN, LAN, internet, cloud storage etc. It allows radiologists and physicians to study images without having to be at patients’ location.

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Based on component, the market is divided into:

• Services
• Software
• Hardware

Based on imaging technique, it can be segmented into:

• Computed Tomography
• Magnetic Resonance Imaging
• Ultrasound
• X-Ray
• Mammography
• Nuclear Imaging
• Fluoroscopy
• Others

By end use, it is categorised as:

• Hospitals and Clinics
• Diagnostic Imaging Centres and Laboratories
• Others

The regional markets for teleradiology include:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

Market Trends

Regionally, North America is the largest shareholder in global teleradiology market. This can be attributed to the increasing R&D activities, penetration of key players, and integration of artificial intelligence (AI) into teleradiology. Meanwhile, the Asia Pacific region is expected to show fastest growth owing to growing investments in the healthcare industry, and the increasing medical tourism in emerging countries such as China and India within the region.

Moreover, the rising government initiatives for developing advance healthcare facilities and infrastructure are projected to aid the growth of the teleradiology industry in the forecast period.

Key Market Players

The major players in the market are Koninklijke Philips N.V., Mednax Services, Inc., USARAD Holdings, Inc., Teleradiology Solutions, Onrad, Inc., TeleDiagnosys Services Pvt Ltd, and a few others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.

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Over 3000 EMR consultants and more than 100 analysts work very hard to ensure that clients get only the most updated, relevant, accurate and actionable industry intelligence so that they may formulate informed, effective and intelligent business strategies and ensure their leadership in the market.

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Expert Market Research

Expert Market Research is a leading business intelligence firm, providing custom and syndicated market reports along with consultancy services for our clients. We serve a wide client base ranging from Fortune 1000 companies to small and medium enterprises. Our reports cover over 100 industries across established and emerging markets researched by our skilled analysts who track the latest economic, demographic, trade and market data globally. At Expert Market Research, we tailor our approach according to our clients’ needs and preferences, providing them with valuable, actionable and up-to-date insights into the market, thus, helping them realize their optimum growth potential. We offer market intelligence across a range of industry verticals which include Pharmaceuticals, Food and Beverage, Technology, Retail, Chemical and Materials, Energy and Mining, Packaging and Agriculture.