Teleradiology Market Analysis by Products & Services, Imaging Technique, End User, COVID-1 Impact and Major Players Cerner Corporation (US), Phillips Healthcare (Netherlands), Siemens Healthineers (Germany)

The Teleradiology Market document takes into consideration the market type, size of the organization, availability on-premises, end-users organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific, and the Middle East & Africa to analyze the data. The report also describes all the major topics of the market research analysis that includes market definition, market segmentation, competitive analysis, major developments in the market, and excellent research methodology. Clients can reveal the best opportunities to be successful in the market with an excellent practice model and method of research used while formulating this Teleradiology Market report.

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The teleradiology market is expected to reach USD 22.8 billion by 2025 from USD 7.9 billion in 2020, at a CAGR of 23.5% during the forecast period of 2020 to 2025. Teleradiology Market by Products & Services (Services, Hardware, Software (PACS, RIS)), Imaging Technique (MRI, CT, X-ray, Ultrasound, Mammography, Nuclear Imaging), End User (Hospitals, Diagnostic Centers & Laboratories), COVID-1 Impact – Forecast to 2025

Some of the prominent players in this market are

Cerner Corporation (US),
Phillips Healthcare (Netherlands),
Siemens Healthineers (Germany),
McKesson Corporation (US),
FUJIFILM Holdings Corporation (Japan),
Agfa Healthcare (Belgium),
MEDNAX Services, Inc. (US),
ONRAD Inc. (US),
RamSoft Inc. (Canada),
Novarad Corporation (US),
TeleDiagnostic Solutions Pvt. Ltd. (India),
Teleradiology Solutions (India),
Telerad Tech (India),
StatRad LLC (US),
MedWeb LLC (US),
WebRad TeleRadiology (India),
Nautilus Medical (US),
Carestream Health Inc. (US),
USARAD Holdings, Inc. (US),
and Everlight Radiology (Australia).

This Teleradiology Market research report has a complete overview of the market, covering various aspects such as product definition, segmentation based on various parameters, and the prevailing vendor landscape. The market report consists of explicit and up-to-date information about the consumer’s demands, their inclinations, and their variable likings about a particular product. The report not only saves valuable time but also adds credibility to the work that has been done to grow the business. In this winning Teleradiology Market business report, thorough investment analysis is offered which forecasts imminent opportunities for the market players and develops the strategies to grow return on investment (ROI).

Due to the outbreak of corona virus globally, there is a sudden rise in the demand for teleradiology services. The growth of this market is mainly attributed to the rising geriatric population and the subsequent increase in the prevalence of associated diseases, the increasing adoption of cloud-based solutions, and the benefits offered by teleradiology and a dearth of skilled radiologists. However, declining reimbursements and increasing regulatory burden in the US and data breaching of imaging report hampered market growth to an extent.

“CT was the largest and fastest growing Imaging technique market in 2019”

Computed tomography (CT) is used in a wide range of applications, such as cardiology, oncology, neurology, and abdomen and pelvic, and spine and musculoskeletal imaging. Factors such as the growing need for effective and early diagnosis, technological advancements, and digitalization in this field are driving the growth of the teleradiology market for this segment. According to the WHO, more than 100 million CT scans are performed every year across the globe. The need to prevent exploratory surgeries and improvements in cancer diagnosis and treatment have increased the demand for CT scans over other imaging techniques.

“Hospitals is the largest end user segment in the teleradiology market in 2019”

Based on end users, the teleradiology market is segmented into hospitals and clinics; diagnostic imaging centers and laboratories; long-term care centers, nursing homes, and assisted living facilities; and other end users. The hospitals and clinics segment accounted for the largest share of in 2019. The large share of this segment can be attributed to the rising number of diagnostic imaging procedures performed in hospitals, the growing inclination of hospitals towards the automation and digitization of patient records, and the growing need to improve the quality of patient care. Moreover, a shortage of radiologists due to the COVID-19 pandemic and the rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals are further expected to support the growth of this end-user segment.

“North America will continue to dominate the teleradiology market in 2025”

The teleradiology market is segmented into five major regions, namely, North America, Europe, Asia Pacific, Latina America, and the Middle East and Africa. In 2019, North America accounted for the largest share. The large share of North America in the global market is attributed to the rising geriatric population, high incidence of chronic diseases, a large number of diagnostic imaging procedures, increasing awareness about the benefits of early diagnosis of diseases, and the rapid adoption of technologically advanced imaging systems in this region. Due to its growing geriatric population segment and environmental conditions have favored the spread of COVID-19 which has severely affected the region and ensured enormous growth in the demand for telehealth and teleradiology. Players in this and adjacent, or even non-related, markets have focused on or collaborated for expanding the services of teleradiology.

The break-down of primary participants is as mentioned below:

By Company Type – Tier 1: 40%, Tier 2: 25%, and Tier 3: 35%
By Designation – C-level: 25%, Director-level: 20%, and Others: 55%
By Region – North America: 40%, Europe: 25%, Asia Pacific: 20%, Latin America: 10%, and the Middle East & Africa: 5%
Research Coverage:

The report analyzes the teleradiology market and aims at estimating the market size and future growth potential of various market segments, based on products and service, imaging technique, end user, and region. The report also provides a competitive analysis of the key players operating in this market, along with their company profiles, product offerings, recent developments, and key market strategies.

Reasons to Buy the Report

This report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market, which, in turn, would help them garner a greater share of the market. Firms purchasing the report could use one or a combination of the below-mentioned strategies to strengthen their positions in the market.

This report provides insights on:

Market Penetration: Comprehensive information on the product portfolios of the top players in the teleradiology market. The report analyzes this market by type, indication, end user, and region
Market Development: Comprehensive information on the lucrative emerging markets, by products and services, imaging technique, end user, and region
Market Diversification: Exhaustive information about the product portfolios, growing geographies, recent developments, and investments in the teleradiology market
Competitive Assessment: In-depth assessment of market shares, growth strategies, product offerings, and capabilities of the leading players in the teleradiology market

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Table Of Contents

1 Introduction
1.1 Objectives Of The Study
1.2 Market Definition
1.2.1 Inclusions & Exclusions
1.2.2 Markets Covered
1.2.3 Years Considered For The Study
1.3 Currency
1.4 Limitations
1.5 Stakeholders

2 Research Methodology
2.1 Research Approach
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Key Industry Insights
2.2 Market Size Estimation
2.3 Market Breakdown & Data Triangulation
2.4 Assumptions For The Study

3 Executive Summary

4 Premium Insights
4.1 Teleradiology Market Overview
4.2 Asia Pacific: Teleradiology Market, By Product & Service And Country (2019)
4.3 Teleradiology Market: Geographic Growth Opportunities
4.4 Regional Mix: Teleradiology Market (2020−2025)
4.5 Teleradiology Market: Developing Vs. Developed Markets

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Market Drivers
5.2.1.1 Rising Geriatric Population And The Subsequent Increase In The Prevalence Of Associated Diseases
5.2.1.2 Increasing Adoption Of Cloud-Based Solutions
5.2.1.3 Benefits Offered By Teleradiology And A Dearth Of Skilled Radiologists
5.2.2 Restraints
5.2.2.1 Declining Reimbursements And Increasing Regulatory Burden In The Us
5.2.3 Opportunities
5.2.3.1 High Growth Opportunities In Emerging Countries
5.2.3.2 Adoption Of Artificial Intelligence In Teleradiology
5.2.3.3 Use Of Blockchain Technology In Teleradiology
5.2.4 Challenges
5.2.4.1 Data Breach Of Imaging Reports

6 Industry Insights
6.1 Introduction
6.2 Industry Trends
6.2.1 Growing Adoption Of Telehealth Solutions
6.2.2 Demand For Subspecialty Services
6.3 Regulatory Analysis
6.4 Impact Of Covid-19 On The Teleradiology Market
6.4.1 Strategies Adopted By Teleradiology Players During Covid-19

7 Teleradiology Market, By Product & Service
7.1 Introduction
7.2 Teleradiology Services
7.2.1 Rising Demand For Out-Of-Hours Reporting To Drive Market Growth
7.3 Software
7.3.1 Picture Archiving & Communication Systems
7.3.1.1 Frequent Need For Upgrades & Improvements In Software Applications Are The Major Factors Driving Market Growth
7.3.2 Radiology Information Systems
7.3.2.1 Ris Is Often Used In Conjunction With Pacs And Vna
7.4 Hardware
7.4.1 Need For Faster Data Exchange & Better Interoperability Are Driving The Growth Of This Segment

8 Teleradiology Market, By Imaging Technique
8.1 Introduction
8.2 Computed Tomography
8.2.1 Rising Demand For Ct Systems Among Hospitals Is Supporting The Growth Of This Segment
8.3 Magnetic Resonance Imaging
8.3.1 Increasing Prevalence Of Neurological Disorders To Drive Market Growth
8.4 Ultrasound
8.4.1 Rising Patient Preference For Minimally Invasive Procedures Is Propelling The Growth Of This Segment
8.5 X-Ray
8.5.1 Reduction In Image Acquisition Time Has Increased The Demand For X-Rays
8.6 Mammography
8.6.1 Absence Of Skilled Onsite Radiologists To Interpret Mammograms Is Driving The Growth Of The Teleradiology Market For This Segment
8.7 Nuclear Imaging
8.7.1 Rising Prevalence Of Cancer To Support The Growth Of This Segment
8.8 Fluoroscopy
8.8.1 High Radiation Dose ─ A Major Drawback Associated With Fluoroscopy Procedures

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