Teleradiology Market- Global Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028F Segmented By Component (Software v/s Services), By Imaging Technique (X-ray, CT, MRI, Ultrasound, Mammography, Others), By End User, By Region

Teleradiology Market Growth is Estimated to Boost in the Forecast Year due to Various Factors, Which Include Prevailing Health Conditions and the Current Medical Facility Provided Among the Population, Especially in Developing Countries That are Making People Opt and Avail the Best and Feasible Serv

Teleradiology market growth is estimated to boost in the forecast year due to various factors, which include prevailing health conditions and the current medical facility provided among the population, especially in developing countries that are making people opt and avail the best and feasible service provided around them. The radiology service has been extensively used and utilized through offering an interpretation of all noninvasive imaging studies, including digitized X-rays, CT, MRI, ultrasound, and nuclear medicine studies, which can be conveniently performed by teleradiology, and thus, is expanding the field of medical technology using teleradiology.

Teleradiology is widely used by doctors to collaborate and consult with other medical professionals who are remotely located, and that is something that we might not be able to do without this technology of teleradiology. It helps in the diagnosis of the prevailing condition, along with access to a second opinion, thus helping in disease management. There are times when a radiologist is unavailable in the hospital, which sometimes leads to misinterpretation of disease due to negligence, making people look for a second opinion for confirmation of the disease before moving further with the medications. As a result, people often seek a second opinion to confirm the diagnosis before the beginning of the treatment.

The main driver of the expansion of the global teleradiology market is the rising need for second opinions in emergency situations via teleradiology. The rise of multiple consultation scenarios from various doctors and locations to look for better and more practical options for healthcare facilities is being driven by rising awareness among the population and the growing interest of people to spend more on health expenditure for better health treatment and facilities.

Increasing Incidence of the Target Disease

Additionally, there is a growing need for teleradiology services due to the prevalence of chronic diseases, the aging population, and the constantly expanding number of healthcare organizations worldwide. According to WHO, it has been estimated that the elderly population (above 60 years) of the world will rise from 12% to 22% between the year 2015 to 2050. In 2050, 80% of older people will be living in low and middle-income countries. With the focus on the geriatric population, the increased demand for radiological services is expanding owing to the demographic shift, change in lifestyle, and high prevalence of chronic diseases such as a carotid artery, colorectal cancer, lung cancer, arthritis and osteoporosis, kidney failure, osteoarthritis, etc.

Access to Health in Rural Areas is Improving

Rural areas have benefited greatly from teleradiology since it gives patients a rapid fix for additional examination by concerned senior doctors. People living in rural areas, where access to high-quality, error-free diagnosis is scarce, have benefited greatly from teleradiology. Senior citizens and ill patients who might not be able to frequently travel to the local hospital have also benefited from it.

It also benefits smaller hospitals, which typically only have a few radiologists on staff. Teleradiology has made it possible for hospitals with less developed radiology infrastructure to exchange pictures with hospitals with more advanced equipment for review by a radiologist with greater experience. This spares the patient time and additional stress they would experience if they had to travel to a busier hospital to get a second opinion. The use of teleradiology enables radiologists in different locations to review the pictures that the Emergency Room teams take. Thus, the use of teleradiology, especially in rural areas, is one of the major market trends affecting the teleradiology market. Recently is a rising demand for teleradiology systems among hospitals and other medical facilities in rural areas.

Cost-Effective Interpretation of Radiographs Bolstering Teleradiology Market

Due to the reduction in travel time, teleradiology has shown to be a cost-effective choice for patients. Teleradiology is now extensively used by hospitals, mobile imaging businesses, urgent care centers, and even some private practices. The fundamental justification for using teleradiology is that having a radiologist on-site is expensive. It can result in significant savings for facilities that need round-the-clock assistance or for those with a low volume of radiology patients. Teleradiology enhances patient care by enabling radiologists to give their services without having to be present where the patient is. This is crucial whenever a sub-specialist radiologist is required, such as a musculoskeletal radiologist, pediatric radiologist, neuroradiologist, or MRI radiologist, as they typically operate during the day in busy cities. On the other hand, teleradiology enables patients constant access to qualified specialists 24/7 and in case of emergency.

Digital Technology Advancement to Support the Global Teleradiology Market

Teleradiology was exclusively utilized in emergencies until recently. Since the invention of the internet, sending pictures has been just as simple as sending emails with attachments. There are currently computer programs made specifically for sending radiological pictures. Due to these advancements, teleradiology has been and will continue to become a prominent medical profession.

The government's actions to encourage healthcare digitization are anticipated to support market expansion. Additionally, quick advancements in digital image processing technology guarantee efficient picture distribution at the local, national, and international levels. Additionally, the growing geriatric population and the subsequent rise in the prevalence of associated diseases have all been positively anticipated in propelling the growth of the global teleradiology market. These factors include the emergence and acceptance of mobile technology (mHealth) to visualize and interpret images.

The healthcare informatics systems that allow for efficient and speedy image transfer and interpretation are the foundation of the teleradiology sector. The PACS and RIS systems now in use are insufficient to carry out teleradiology procedures. Integration of RIS-PACS and a robust and efficient teleradiology process are also required. Digital image processing technologies are rapidly evolving, ensuring efficient image distribution at the local, national, and international levels. These technologies help to increase teleradiology procedures' adoption on a global scale. The global teleradiology industry is being driven by the emergence and growing acceptance of mobile technology (mHealth) platforms to display and interpret radiologic images. Clinicians and doctors benefit from these tools, particularly in an emergency. For instance, expanding the use of mobile applications for iPad, iPhone, and other smartphones guarantees that medical images are properly interpreted, shortening treatment times, and improving patient outcomes, thus, utilizing more use of teleradiology in public.

Market Segmentation

The Global Teleradiology Market is segmented based on Component, Imaging Technique, End User, Region, and Company. Based on Components, the market is bifurcated into Software and Services. The Software is sub-segmented into PACS and RIS. Similarly, the Service is sub-segmented into General Reporting, Consultation, and Others. Based on Imaging Technique, the segment is split among X-ray, CT, MRI, Ultrasound, Mammography, and Others. Based on the End User, the market is divided into Hospitals & Clinics, Diagnostic Laboratories, and Others.

Company Profiles

Koninklijke Philips N.V., 4ways Healthcare Ltd., ONARD, Inc, RamSoft, Inc., Agfa-Gevaert Group, Teleradiology Solutions, Vital Radiology Services, Virtual Radiologic Corporation, Medica Group PLC, Everlight Radiology are among the major market players operating in the Global Teleradiology Market.

Report Scope:

In this report, Global Teleradiology Market has been segmented into the following categories, in addition to the industry trends, which have also been detailed below:

Teleradiology Market, By Component:

• Software
• Service
• By Software
• PACS
• RIS
• By Service
• General Reporting
• Consultation
• Others

Teleradiology Market, By Imaging Technique:

• X-ray
• CT
• MRI
• Ultrasound
• Mammography
• Others

Teleradiology Market, By End User:

• Hospitals & Clinics
• Diagnostic Laboratories
• Others

Teleradiology Market, By Region:

• North America
• United States
• Canada
• Mexico
• Europe
• Germany
• France
• United Kingdom
• Italy
• Spain
• Asia-Pacific
• China
• Japan
• India
• South Korea
• Australia
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• South America
• Brazil
• Argentina
• Colombia

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in Global Teleradiology Market.

Available Customizations:

With the given market data, the publisher offers customizations according to a company’s specific needs.


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