IMARC Group, a leading market research company, has recently releases report titled “Teleradiology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global teleradiology market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the Teleradiology Market?
The global teleradiology market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 15.3% during 2023-2028.
Teleradiology refers to a branch of telemedicine that involves the transmission of radiological images, such as positron emission tomography (PET), computed tomography (CT), magnetic resonance imaging (MRI), X-ray, and ultrasound, from one location to another for interpretation and diagnosis. It relies on the electronic transmission of radiological images, which are typically sent securely over the internet using picture archiving and communication systems (PACS) or other secure platforms. It helps to address the shortage of radiologists in certain areas by providing access to radiology expertise remotely. It allows radiologists to offer their knowledge and facilitate healthcare providers and patients to access specialized radiology services from multiple locations, reduces patient wait times, and improves the overall efficiency of the healthcare system. It enables 24/7 coverage, which allows rapid diagnosis in emergency situations, even during off-hours.
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There is a surge in the prevalence of chronic medical disorders and viral infections, such as cancer, coronary artery disease, heart failure, interstitial lung disease, brain tumors, lupus, rheumatoid arthritis, human immunodeficiency virus (HIV), and respiratory syncytial virus (RSV). Along with this, the increasing aging population, which faces mobility problems and is more prone to these diseases, represents one of the major factors driving the demand for teleradiology around the world. Moreover, the rising need for different radiologist procedures, including MRI, CT, and X-ray, in different treatments and surgeries is favoring the growth of the market.
In addition, the growing adoption of teleradiology in healthcare information and communication technology (HCIT) for examining radiological images cost effectively is influencing the market positively. Apart from this, several measures are being undertaken by the governing authorities of numerous countries to promote the development and implementation of teleradiology programs in underserved areas wherein access to radiology services is restricted. They are also focusing on improving the infrastructure, securing networks to facilitate the transmission of medical images and data, and high-speed internet access.
Furthermore, there is an increase in the integration of advanced technologies like cloud computing, artificial intelligence (AI), machine learning (ML), virtual reality (VR), and augmented reality in teleradiology to assist radiologists for analyzing and interpreting images and help detect abnormalities. These advancements also enable the storage and processing of large volumes of medical images in a centralized manner, allow radiologists to facilitate collaboration between multiple experts, and provide scalability and cost effectiveness. This, coupled with the advent of mobile applications to enable radiologists for accessing medical images via smartphones, is strengthening the growth of the market.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Component:
- Software and Services
Breakup by Imaging Technique:
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Nuclear Imaging
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- Breakup by Region:
- North America
- United States
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
Who are the key players operating in the industry?
4ways Healthcare Limited, Agfa-Gevaert Group, Carestream Health, Cerner Corporation, FUJIFILM Corporation, General Electric Company, Koninklijke Philips N.V., McKesson Corporation, Mednax Services Inc., ONRAD Inc., RamSoft Inc., Siemens AG, Teleradiology Solutions, USARAD Holdings Inc.
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