As per the latest report published by Growth Plus Reports, the Global Teleradiology Market was valued at US$ 5.3 billion in 2021 and is expected to reach US$ 17.51 billion by 2030 at a revenue CAGR of 14.2% during the forecast period 2022 to 2030. The study analyzes the most successful strategies, market trends, drivers and opportunities, competitive landscape, market size, statistics, forecasts, and key investment areas.
Key Takeaways:
- The global healthcare infrastructure and healthcare expenditure are expanding the market revenue.
- The increased frequency of chronic conditions such as congestive heart failure and orthopedic injuries drives market revenue growth.
- Increasing technological advancements in teleradiology are further expected to boost market revenue growth.
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Teleradiology Market Scope
| Report Attribute | Details |
| Market size value in 2021 | US$ 5.3 billion |
| Revenue forecast in 2030 | US$ 17.51 billion |
| Growth Rate | CAGR of 14.2% from 2022 to 2030 |
| Base year for estimation | 2021 |
| Forecast period | 2022-2030 |
| Segments covered | imaging techniques, mode of delivery, end-users, and region. |
| Regional scope | North America, Europe, Asia Pacific, and the Rest of the World (ROW) |
Market Drivers:
The rise in demand for radiological services because of the increased prevalence of long-term ailments such as congestive heart failure and orthopedic injuries is one of the primary reasons driving the revenue growth of the teleradiology industry. Furthermore, the significant increase in government investment in the healthcare information (HCIT) industry, and the increased focus of major companies on bringing innovation to digital diagnostics, stimulates market revenue growth.
Market Segmentation:
Growth plus reports have analyzed the global teleradiology market from perspectives such as imaging techniques, mode of delivery, end-users, and region.
Imaging Techniques Segmentation:
Based on imaging techniques, the teleradiology market is segmented into ultrasound, MRI (Magnetic Resonance Imaging), X-ray, CT-scan (Computed Tomography), PET (Positron Emission Tomography), SPECT (Single photon emission computerized tomography), and mammography.
X-ray dominates the market with the largest revenue share and is a primary imaging method in diagnostics. The extensive medical field utilization and greater affordability contribute to this high revenue share.
The CT-scan segment is expected to experience significant revenue growth in the forecast period due to its growing demands and better image quality with faster and more precise results.
Mode of Delivery Segmentation:
Based on delivery modes, the global teleradiology market is segmented into on-cloud delivery and on-premises delivery.
The on-cloud delivery segment leads the market with the largest revenue share. On-cloud delivery services offer benefits such as convenient access, simple interface, enhanced mobility & flexibility, and affordability accelerating market revenue expansion.
The on-premise delivery segment’s revenue is expected to grow steadily owing to the advantage of high privacy and security in patient data transmission and personal information.
End-Users Segmentation:
Based on end-users, the global teleradiology market is segmented into hospitals, diagnostic centers, and ambulatory imaging centers.
The hospital segment dominates the market in terms of the largest revenue share and is expected to show constant growth during the forecast period. The use of teleradiology services in this segment is high due to its use in emergency care and primary diagnosis.
The ambulatory imaging center segment accounts for the second largest revenue share in this market because of the skilled professionals providing efficient outcomes.
Regional Growth Dynamics:
Based on region, the global teleradiology market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global teleradiology market with the largest revenue share. North America has an enormous base of market players, a large base of the targeted population, and a developed healthcare infrastructure that will help it to rise significantly during the forecast period.
Europe accounts for the second largest revenue share due to increased awareness of teleradiology and constant innovation and technological advancements.
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Competitive Landscape:
The prominent players operating in the global teleradiology market are:
- Virtual Radiologic Corporation
- USARAD Holdings, Inc.
- Agfa-Gevaert Corporation
- Everlight Radiology
- Mednax Services Inc.
- 4ways Healthcare Ltd.
- Onrad Inc.
- Cybernet Medical Corporation
- RamSoft, Inc.
To increase the product portfolio in the global teleradiology market, prominent players have embraced product launches, product approval, and agreement as key developmental strategies. These initiatives have enabled the expansion of future economic business prospects and increased demand for teleradiology.
Recent Developments:
- In February 2022, Sirona Medical, a developer of digital radiography operating systems, announced the purchase of Nines to expand its offerings and boost its market position.
Table of Content
- INTRODUCTION
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
- Drivers
- Restraints
- Opportunities
- GLOBAL TELERADIOLOGY MARKET- ANALYSIS & FORECAST, BY IMAGING TECHNIQUES
- Ultrasound
- MRI (Magnetic Resonance Imaging)
- X-Ray
- CT-Scan (Computed Tomography)
- Others (PET (Positron Emission Tomography), SPECT (Single photon emission computerized tomography), Mammography, etc.)
- GLOBAL TELERADIOLOGY MARKET- ANALYSIS & FORECAST, BY MODE OF DELIVERY
- On-Cloud
- On-Premises
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VALUE PROPOSITIONS RELATED TO THE REPORT:
- Powered with Complimentary Analyst Hours and Expert Interviews with Each Report
- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
CUSTOMIZATION OPTIONS:
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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