Teleradiology Market - Global Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028, Segmented By Component (Software v/s Services), By Imaging Technique (X-ray, CT, MRI, Ultrasound, Mammography, Others), By End User (Hospitals & Clinics, Diagnostic Laboratories, Others, By Region
Published Date: November - 2024 | Publisher: MIR | No of Pages: 320 | Industry: Healthcare | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationTeleradiology Market - Global Industry Size, Share, Trends, Competition, Opportunities and Forecast, 2018-2028, Segmented By Component (Software v/s Services), By Imaging Technique (X-ray, CT, MRI, Ultrasound, Mammography, Others), By End User (Hospitals & Clinics, Diagnostic Laboratories, Others, By Region
Teleradiology market growth is estimated to boost in the forecast year due to the various factors which includes prevailing health conditions and the current medical facility provided among the population. Especially in developing countries that is making people to opt and avail the best and feasible service provided around them. The radiology service has been extensively used and utilized through offering 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 which might not be able to do without this technology of teleradiology. It helps in diagnosis of the prevailing condition, along with access to second opinion, thus is helping in disease management. There are times when a radiologist is unavailable in the hospital which sometimes lead to misinterpretation of disease due to negligence, making people look for second opinion for confirmation of 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 growing interest of people to spend more on health expenditure for better health treatment and facility.
Increasing Incidence of the Target Disease
Additionally, there is a growing need for teleradiology services due to the prevalence of chronic diseases, the ageing 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 towards geriatric population the increase in demand for radiological services is expanding owing to the demographic shift, change in lifestyle and high prevalence of chronic diseases such as 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 specially in the rural areas is one of the major market trends affecting the teleradiology market recently is the 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 the 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 because having a radiologist on-site is expensive.
Digital Technology Advancement to Support the Global Teleradiology Market
Teleradiology was exclusively utilised in emergencies, until recently. Since the invention of the internet, sending pictures is just as simple as sending emails with attachments. There are currently computer programmes 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 visualise 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 smart phones guarantees that medical images are properly interpreted, shortening treatment times, and improving patient outcomes, thus, utilizing the more use of teleradiology in public.
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Market Segmentation
The Global Teleradiology Market is segmented
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
| Attribute | Details |
| Base Year | 2022 |
| Historical Years | 2018 – 2022 |
| Estimated Year | 2023 |
| Forecast Period | 2024 – 2028 |
| Quantitative Units | Revenue in USD Million, and CAGR for 2018-2022 and 2023-2028 |
| Report Coverage | Revenue forecast, company share, competitive landscape, growth factors, and trends |
| Segments Covered | Component Imaging Technique End User |
| Regional Scope | North America; Europe; Asia Pacific; South America; Middle East & Africa |
| Country Scope | United States; Canada; Mexico; Germany; France; United Kingdom; Italy; Spain; Poland; China; India; Japan; South Korea; Australia; Thailand; Vietnam; Malaysia; Brazil; Argentina; Colombia; Turkey; Egypt; South Africa; Saudi Arabia; UAE |
| Key Companies Profiled | Koninklijke Philips N.V., 4ways Healthcare Ltd., ONARD, Inc, RamSoft, Inc., Agfa-Gevaert Group |
| Customization Scope | 10% free report customization with purchase. Addition or alteration to country, regional & segment scope. |
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| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/pdf format on special request) |
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