Wilmington, Delaware, United States, Sept. 21, 2022 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global teleradiology market is expected to reach a value of US$ 10.5 Bn by the end of 2027, as per a review by Transparency Market Research (TMR). Additionally, the study by TMR states that the market for teleradiology is anticipated to show growth at a CAGR of 16.9% during the forecast period, from 2019 to 2027.
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The application of different smart connectivity devices and associated solutions is being increasing globally as they help in delivering precise interpretation of the medical images, thereby providing ability to offer medical treatment to patients in minimum time. Such factors are anticipated to drive the growth in the teleradiology market in the forthcoming years.
Teleradiology Market: Key Findings
- Due to advancements in the digital image processing technologies, the healthcare organizations across the globe are able to achieve efficient image distribution across the local, regional, and international levels. Moreover, a rise in penetration of the Internet together with the improved speed of transmission have resulted into a surge in the application of teleradiology across varied centers globally. This aside, these factors have made it possible to deliver day-time reporting for out of hours imaging services in countries with varied time zones. Owing to these advantages, the teleradiology market is likely to gain lucrative opportunities during the forecast period, notes a TMR study.
- Varied technological advancements such as mHealth are gaining traction in the recent years owing to their ability to help in the visualization and interpretation of images with high level of precision. Hence, rising adoption of technological advancements in the healthcare industry is driving the growth prospects in the teleradiology market in several developed countries including Germany, the U.S., the U.K., Japan, and Australia.
- Several healthcare organizations across the globe are inclining toward outsourcing radiology services from skilled radiologists. Such strategies are helping hospitals in gaining superior quality work at relatively lower prices. Hence, the adoption of teleradiology services is being increasing in several cost-sensitive nations from developing regions such as Asia Pacific. Such factors, in turn, are prognosticated to help in the overall expansion of the teleradiology market share in the near future, state researchers at TMR.
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Teleradiology Market: Growth Boosters
- Developments in digital technology and mobile technology (mHealth) for visualization and interpretation of images are expected to help the teleradiology market size expansion
- Rising inclination toward outsourcing radiology services globally is creating profitable prospects in the market
- Increasing focus of market players on strategies including mergers and acquisitions is leading to rapid market growth
Teleradiology Market: Competition Landscape
- TMR’s study on the teleradiology market trends notes that companies are executing varied strategies including acquisitions and collaborations in order to maintain their leading positions and the expansion of their businesses in newer regions
- Several enterprises are seen engaging in the development of technologically advanced products and regulatory approvals, states a forecast of teleradiology market by TMR
- Surge in the focus of market players on the launch of new services is anticipated to help in the overall growth of the market for teleradiology in the near future
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Teleradiology Market: Key Players
Some of the key players profiled in the report are:
- Agfa-Gevaert N.V.
- Envision Healthcare Corporation
- InHealth
- 4ways Healthcare Limited
- USARAD Holdings, Inc.
- Teleradiology Solutions
- TeleDiagnosys Services Pvt Ltd.
- ONRAD, Inc.
- Cybernet Medical Corporation
- Euro American Tele Radiology
Teleradiology Market Segmentation
Service Type
- General
- Reporting
- Consultation
- Auditing
- Others
Coverage
- Day Time Coverage
- After Hours/Night Time Coverage
Specialty
- Cardiology
- Neurology
- Musculoskeletal
- Gastroenterology
- Oncology
- Others
Modality
- X-rays
- Ultrasound
- Magnetic Resonance Imaging (MRI)
- Computed Tomography (CT)
- Nuclear Imaging
- Others
End-user
- Hospitals
- Diagnostic Imaging Centers
- Ambulatory Surgical Centers
- Clinics
- Others
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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