Teleradiology Market Overview:
Global Teleradiology Market accounted for $2,143 million in 2016 and is expected to reach $7,345 million by 2023 with a CAGR of 19.0% during the forecast period. Teleradiology is the practice of having medical images interpreted by a radiologist even from a distant location. These interpretations through non-invasive imaging modalities such as CT, MRI, ultrasound, and nuclear medicine studies and X-rays help in proper disease diagnosis and its treatment. Apart from this, teleradiology allows storage of digital radiograph images through picture archiving and communication system (PACS) software. Teleradiology is used by urgent care clinics, hospitals, and mobile imaging companies.
The key factors that drive the growth of teleradiology market are advancements in medical digital technology, rapid interpretation of images in an emergency situations remotely, and rise in the number of chronic diseases such as congestive heart failure, orthopedic injuries, and others. In addition, latest IT infrastructure and rise in healthcare expenditure caters to the market growth. However, low availability of broadband networks and dearth of skilled professionals majorly restraint the market growth. Development of low power consuming, wireless, and portable x-ray technologies are expected to provide numerous opportunities for market growth during the forecast period.
The report segments the teleradiology market based on imaging techniques, technology, and end user. In terms of imaging techniques, the market is divided into X-rays, computed tomography (CT), ultrasounds, magnetic resonance imaging (MRI), nuclear imaging, fluoroscopy, mammography, and others. On the basis of technology, the market is classified into hardware, software, and telecom & networking. The software market is further categorized into picture archiving and communication system (PACS), and radiology information system (RIS). The telecom & networking market is bifurcated into web-based and cloud-based teleradiology solutions. Based on end user, the market is categorized into hospitals, ambulatory surgical centers, diagnostic centers, and others.
Global Teleradiology Market Segmentation
Drivers, Restraints & Opportunities
The impact of the driving factors is expected to surpass that of restraints. Moreover, increase in focus toward untapped emerging economies and growing IT services across healthcare settings offer lucrative opportunities for the market growth.
Teleradiology Market: Drivers & Restraints
India Teleradiology Market
The rise in adoption of modern and novel imaging techniques drives the teleradiology market growth in India. Moreover, increase in number of players in the country and expansion of medical electronics and IT sector further fuels the market growth. In addition, robust government initiative toward improvement of healthcare facilities through favorable insurance schemes is anticipated to provide lucrative growth opportunities in the country. The teleradiology market in India is expected to exhibit the highest CAGR of 24.1% from 2016 to 2023.
India Teleradiology Market, 2016-2023 ($Million)
The key players in the global teleradiology market are Siemens AG, Teleradiology Solutions (TRS), Global Diagnostics Limited., Mednax, Inc., Onrad, Inc., Telediagnostics Services Pvt. Ltd., Everlight Radiology, Agfa-Gevaert Group, Radisphere National Radiology Group, Inc., and Fujifilm Medical Systems, Inc.
The other prominent players in the value chain include Cybernet Medical Corporation, Spectra AB, Medica Reporting Ltd., Teleradiology Solutions, Inc., Radiology Reporting Online (RRO), NightHawk Radiology, Inc., Sectra Imtec AB, StatRad, LLC., Ramasift Inc., and Alta Vista Teleradiology.
- The study provides an in-depth analysis of the global teleradiology market and the current trends and future estimations to elucidate the imminent investment pockets.
- The report presents quantitative analysis of the market from 2016 to 2023 to enable stakeholders to capitalize on the prevailing market opportunities.
- Extensive analysis of the market based on product assists to understand the trends in the industry.
- Key market players and their strategies are thoroughly analyzed to understand the competitive outlook of the industry.
Teleradiology Market Key Segments:
By Imaging Techniques
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Nuclear imaging
- Picture Archiving and Communication System (PACS)
- Radiology Information System (RIS)
- Telecom & Networking
- Web-Based Teleradiology Solutions
- Cloud-Based Teleradiology Solutions
By End User
- Ambulatory Surgical Centers
- Diagnostic Centers
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of LAMEA