Teleradiology Market Size (2020 to 2025)
As per our recent research report, the size of the global teleradiology market is forecasted to worth USD 2.48 Billion by 2025 from USD 1.47 billion in 2020, registering a CAGR of 18.45% between 2020 to 2025.
Key Market Drivers:
The global teleradiology market is mainly driven by influential factors like increasing geriatric population, rise in the widespread of chronic diseases, increasing cloud-based solutions, and a dearth of skilled radiologists are causing the market growth in this region. Also, the adoption of advanced technology, raising funds by the government in the healthcare industry, and lower availability of networks in rural areas are leveling up the growth rate of the market. However, lower consumption and portable X-Ray technologies are estimated to create many opportunities for market players.
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Significant Challenges:
The cost incurred for installing imaging equipment and broad technology in remote locations is one of the factors which impede the growth of the teleradiology services market. Also, the lack of data security could lead to a challenging factor in this market.
Impact of COVID-19 on the teleradiology market:
In every country, we have seen that there has been a severe downfall in almost all sectors of the economy. Many activities related to the manufacturing industry have been postponed and stopped. But in the case of the pharmaceutical industry, there’s been a positive impact created by the COVID-19 pandemic. The Teleradiology market has not been affected because of the increasing demand for the proper transmission of radiology images and related data from one location to another during these tough times. However, it is expected that the market will have better than the actual growth during the forecast period.
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This research report on the global radiology market has been segmented & sub-segmented based on the modality, technology solutions, application, and region.
By Modality:
- X-Ray
- Magnetic Resonance Imaging
- Computed Tomography
- Ultrasound Systems
- Nuclear Imaging
By Technology Solutions:
- Web-Based Tele Radiology Solutions
- Cloud-based Tele Radiology Solutions
By Application:
- Picture Archiving and Communication System (PACS)
- Radiology Information System (RIS)
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
Geographically, North America held a majority share in the global teleradiology market and became the dominant market player in this market in 2019. It is expected to have better growth over the forecast period. Factors like the increasing prevalence of chronic diseases like cancer, arthritis, heart diseases, and CNS related problems and rising awareness are propelling the market’s demand. Rising awareness among the people about the health-conscious is escalating the demand of the market. However, the rising geriatric population and increasing demand for advanced imaging technology are expected to increase the market growth in this region.
Europe is the second-largest country that held the major share of the Teleradiology market after North America. Collaborative diagnostic networks are a tailor-made concept to develop efficient and seamless working radiology networks for consulting and managed services, fueling the market growth. However, the increasing prevalence of chronic diseases and the increasing need for better imaging systems are leveling up the growth rate of the market.
The Asia Pacific is expected to have better growth in the Teleradiology market during the market forecast period. It attributes factors such as increasing developing economies, available radiology reporting services to healthcare providers, increasing population, and favorable government policies.
Middle East Africa held a large share and expected to have a better share during the market forecast period. Advancing technology and the prevalence of chronic diseases are influencing the market growth of the Teleradiology market.
NOTABLE COMPANIES IN THIS MARKET:
4ways Healthcare Limited, RamSoft, Inc., Virtual Radiologic (vRAD), Agfa-Gevaert N.V., ONARD, Global Diagnostics, Everlight Radiology, Sectra AB, and Health Watch Tele Diagnostics Pvt. Ltd are some of the significant players operating in the global teleradiology market.
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List of Tables & Figures of the report:
- Global Teleradiology Market, By Region, From 2020 to 2025 (USD Million)
- Global Teleradiology Market, By Modality, From 2020 to 2025 (USD Million)
- Global X-Ray Market, By Region, From 2020 to 2025 (USD Million)
- Global Magnetic Resonance Imaging Market, By Region, From 2020 to 2025 (USD Million)
- Global Computed Tomography Market, By Region, From 2020 to 2025 (USD Million)
- Global Ultrasound Systems Market, By Region, From 2020 to 2025 (USD Million)
- Global Nuclear Imaging Market, By Region, From 2020 to 2025 (USD Million)
- Global Teleradiology Market, By Application, From 2020 to 2025 (USD Million)
- Global Picture Archiving and Communication System (PACS) Market, By Region, From 2020 to 2025 (USD Million)
- Global Radiology Information System (RIS) Market, By Region, From 2020 to 2025 (USD Million)
- Global Teleradiology Market, By Technology Solutions, From 2020 to 2025 (USD Million)
- Global Web-Based Tele Radiology Solutions Market, By Region, From 2020 to 2025 (USD Million)
- Global Cloud-Based Tele Radiology Solutions Market, By Region, From 2020 to 2025 (USD Million)
- 110+ More
Browse Regional Reports:
- North America Teleradiology Market
- Europe Teleradiology Market
- Asia-Pacific Teleradiology Market
- Latin America Teleradiology Market
- Middle East and Africa Teleradiology Market
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