Overview and Scope
Teleradiology refers to the study of telemedicine in which radiological pictures are transmitted from one site to another via telecommunications technology. This method can be used to interpret all noninvasive imaging studies.
Sizing and Forecast
The tele-radiology market size has grown rapidly in recent years. It will grow from $20 billion in 2023 to $23.7 billion in 2024 at a compound annual growth rate (CAGR) of 18.5%. The growth in the historic period can be attributed to quality improvement initiatives, digitalization of medical imaging, healthcare infrastructure development, geographical disparities in healthcare, regulatory changes and standards..
The tele-radiology market size is expected to see rapid growth in the next few years. It will grow to $49.02 billion in 2028 at a compound annual growth rate (CAGR) of 19.9%. The growth in the forecast period can be attributed to enhanced security measures, focus on patient-centric care, continue shortage of radiologists, rise in virtual consultations, globalization of healthcare services.. Major trends in the forecast period include evolving patient expectations, regulatory framework adaptation, rise in diagnostic imaging studies, integration of artificial intelligence..
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Segmentation & Regional Insights
The tele-radiology market covered in this report is segmented –
1) By Imaging Technique: CT, MRI, X-Ray, Ultrasound, Nuclear imaging
2) By Component Type: Hardware, Software
3) By End User type: Hospitals, Diagnostic Centers, Other End Users
North America was the largest region in the tele-radiology market share in 2023. The regions covered in the tele-radiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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Major Driver Impacting Market Growth
Increased demand for radiological services due to the rising prevalence of chronic conditions including congestive heart failure and orthopedic injuries is driving the tele-radiology industry forward. An increase in the elderly population and the incidence of geriatric diseases are certainly one of the reasons behind the growth of radiological services. These factors will also lead to the growth of teleradiology services. For instance, in 2021, according to the World Health Organization, non-communicable diseases (NCDs), also known as chronic diseases, kill 41 million people each year, accounting for 71% of all deaths worldwide. More than 15 million people aged between 30 and 69 die every year from an NCD, with 85% of these “premature”””” deaths occurring in low- and middle-income countries. The most common chronic disease is cardiovascular disease, which kills 17.9 million people each year, followed by cancer (9.3 million), respiratory disorders (4.1 million), and diabetes (1.5 million). Therefore, an increase in chronic diseases globally is driving the teleradiology market forward.
Key Industry Players
Major companies operating in the tele-radiology market report are Agfa-Gevaert Group, Tele-Radiology Solutions, Koninklijke Philips N.V., Everlight Radiology Limited, GE Healthcare Company, ONRAD Inc., RamSoft Inc., USARAD Holdings, Mednax Inc., Medica Reporting Ltd., Cerner Corporation, MedWeb LLC, WebRad Tele-radiology Services Inc., Nautilus Medical Inc., SRL Limited, Vital Radiology Services Private Limited, Telemedicine Clinic S.L., HealthWatch TeleDiagnostics Pvt. Ltd., Envision Healthcare Corporation, Global Diagnostics Australia Pty. Ltd., Radiology Reporting Online Limited, Imaging Advantage LLC, Siemens Healthineers AG, Fujifilm Holdings Corporation, Virtual Radiologic Corporation, McKesson Corporation, NightHawk Radiology Services LLC, Teleradiology Solutions Pvt. Ltd., Aris Radiology, International Teleradiology Corp.
The tele-radiology market report table of contents includes:
1. Executive Summary
2. Tele-Radiology Market Characteristics
3. Tele-Radiology Market Trends And Strategies
4. Tele-Radiology Market – Macro Economic Scenario
5. Global Tele-Radiology Market Size and Growth
…..
32. Global Tele-Radiology Market Competitive Benchmarking
33. Global Tele-Radiology Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Tele-Radiology Market
35. Tele-Radiology Market Future Outlook and Potential Analysis
36. Appendix
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