Teleradiology Market Research Report by focusing on Top Companies Siemens AG, Teleradiology Solutions, Global Diagnostics Limited., Mednax, Inc., Onrad, Inc., Telediagnostics Services Pvt. Ltd., Everlight Radiology & Others

Global Teleradiology Market accounted for $2,143 million in 2016 and is expected to reach $7,345 million by 2023 with a CAGR of 19.0% during the forecast period. Teleradiology is the practice of having medical images interpreted by a radiologist even from a distant location. These interpretations through non-invasive imaging modalities such as CT, MRI, ultrasound, and nuclear medicine studies and X-rays help in proper disease diagnosis and its treatment. Apart from this, teleradiology allows storage of digital radiograph images through picture archiving and communication system (PACS) software. Teleradiology is used by urgent care clinics, hospitals, and mobile imaging companies.

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Teleradiology is the branch of telemedicine which involves transmission of radiological images and related data from one location to another for diagnostic and consulting purpose. It is an advanced technology that has emerged due to the imbalance between demand and availability of diagnostic services during emergency situations. Earlier, teleradiology was used in emergencies only however, with advent of internet and advancement in IT industry, the teleradiology practice became more common in recent years. The availability of computer programs such as picture archiving and communication system (PACS) and radiological information system (RIS) that are specifically dedicated to sending radiological images has led to the major advancement in teleradiology technologies. This has made teleradiology a common practice in medicine for accurate diagnosis, interpretation, and proper treatment of patient.

The prime factors that drive the growth of teleradiology market are imbalance between the demand and availability of radiological services. Lack of timely diagnostic services cause major problem for clinicians during emergencies especially night hours has further accelerated the demand of teleradiology technologies globally to initiate the proper treatment at the earliest. However, the scarcity of data security tools and robust technologies hamper the growth of the global teleradiology market. Funding by government and private organizations towards development of healthcare facilities in emerging economies is expected to provide lucrative growth opportunities for the teleradiology market growth.

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In 2016, Asia-Pacific and LAMEA collectively accounted for about two-sevenths share of the market and is expected to continue this trend. This is due to increase in adoption of teleradiology technologies such as PACS and RIS and high prevalence of chronic diseases specifically in China, India, and the other developing economies. Moreover, rise in investments towards development of healthcare-information technology (HCIT) done by key players in the teleradiology field is the main reason for the growth of the market in Asia-Pacific.

The key players in the global teleradiology market are

• Siemens AG,
• Teleradiology Solutions (TRS),
• Global Diagnostics Limited.,
• Mednax, Inc.,
• Onrad, Inc.,
• Telediagnostics Services Pvt. Ltd.,
• Everlight Radiology,
• Agfa-Gevaert Group,
• Radisphere National Radiology Group, Inc., and
• Fujifilm Medical Systems, Inc.

The other prominent players in the value chain include Cybernet Medical Corporation, Spectra AB, Medica Reporting Ltd., Teleradiology Solutions, Inc., Radiology Reporting Online (RRO), NightHawk Radiology, Inc., Sectra Imtec AB, StatRad, LLC., Ramasift Inc., and Alta Vista Teleradiology.

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