Teleradiology Market Size Predicted to reach USD 2.48 billion by 2023 | Major Key Players are 4ways Healthcare Limited, RamSoft, Virtual Radiologic (vRAD), Agfa-Gevaert, Global Diagnostics, Everlight Radiology, Sectra AB, and Health Watch Tele Diagnostic

Teleradiology Market Overview:

Teleradiology is the transference of radiological patient images from one place to another, for official diagnosis or consultation with other radiologists. It involves the technology which works with the transmission of radiography images from remote locations to a strong healthcare establishment in an urban area, using software which makes use of the Internet.

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Currently, Teleradiology global market is mainly driven by the technological advancement in the healthcare industry, growing digitalization which aids in improving the Teleradiology process, and low costs in the contrast to other modalities. Secondary factors include the shortage of radiologist worldwide, advancements in the digital technology in external patient diagnosis, and improved healthcare awareness. On the other hand, inadequate common standards is the major barrier for this market.

Teleradiology Market Forecast Report (2018-2023):

Teleradiology Market worth was around USD 1.47 billion in 2018. It is expected to reach at a CAGR of 18.5% to reach USD 2.48 billion by 2023.

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Teleradiology Market Segmentation:

Teleradiology Market by modality, by application and by technology solutions. By modality the market is divided into X- Ray, Magnetic Resonance Imaging, Ultrasound Systems, Computed Tomography, and Nuclear Imaging. In 2015, the x-ray sector lead the Teleradiology market with a revenue of over USD 500 million. The huge number of x-ray procedures and its wide acceptability, and the advent of the novel technologies, like cost-effective filmless x-ray systems, are few key factors which are responsible for its large share. By application the market is divided into Picture Archiving and Communication System (PACS), Radiology Information System (RIS). By technology solutions the market is classified into Web-Based Teleradiology Solutions, Cloud-Based Teleradiology Solutions.

Teleradiology Market geographical segmentation:

Teleradiology Market geographical classified by North America, Latin America, Europe, Asia Pacific, and Middle East and Africa. North America leads the market in 2015 with a share of over 40.0%. The establishment of a highly developed healthcare infrastructure, the availability of high-speed internet facilities, technology-enabled healthcare platforms, and the high public healthcare expenditure are the major factors responsible for its elevated revenue share. In 2015, the Western Europe commanded over 70% of the market share because of these technological advancements, such as PACS, RIS, and cloud computing services in this region. Asia Pacific is projected to be the best ever growing Teleradiology market owing to its fastest growing healthcare infrastructure conjoined with the rising demand for innovative and advanced medical platforms. Moreover, the large base of the target population, the rising government initiatives, and the strategic global expansions undertaken by main players trigger the market growth.

Key Developments in the Market:

1. To enhance their capabilities and provide quality service, major players are now adopting strategies such as, new product development, mergers and acquisitions.
2. In 2016, The Rapid Radiology, Inc., one of the key players in the market in the U.S. acquired Advanced Medical Imaging & Teleradiology with an aim to produce an effective and efficient diagnosis to its clients.

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Teleradiology Market Key Players:

The major Teleradiology Market leaders are 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.

The Scope of the report:

The report offers a comprehensive analysis of the industry by providing the estimations of market potential and forecasts with utmost granularity. Along this, the factors influential in effecting the market dynamics and trends are discussed in detail at the product level. Further, the performance of the market at the regional and country-level is assessed and the prospects with high growth potential are identified and debated.

The key players in the industry are profiled providing insights on their financial performance, market position and growth strategies. Comparative analysis on prime strategically activities of the market players delineating the key developments like mergers & acquisitions, collaborations and an evaluation of the competitive environment within the industry are provided.

The report also offers a broad outlook of the market along with recommendations from industry experts on the opportunities for investment activity.

What else? Apart from the syndicated report, our in-house team has an expertise and experience in designing custom reports to meet your specific research needs and assist you in making well-informed decisions.

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