Teleradiology Market Demand, Growth and Development Forecast 2021 – Siemens AG, Global Diagnostics Limited

The Global Teleradiology Market size is estimated to be USD 3.76 billion in 2019 and is predicted to reach USD 23.44 billion by 2030 with a CAGR of 18.1% from 2020-2030.

Teleradiology is a branch of telemedicine which helps in the transmission of radiological images and other imaging information from one place to another for consulting and diagnostics purpose. Radiology involves the diagnostics imaging such as X-ray, CT scan, MRI and others which helps in the diagnosis of structural changes occurs due to the specific disease and disorders.

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Top Companies: 4ways Limited, Siemens AG, Global Diagnostics Limited, Koninklijke Philips N.V., Mednax, Inc., GE Healthcare, Agfa-Gevaert Group, Everlight Radiology, Fujifilm Medical Systems, Inc and Radisphere National Radiology Group, Inc and others.

Market Dynamics and Trends

The developing and modernizing healthcare infrastructure with increased prevalence of various chronic disorders such as cancer, trauma cases, and others are expected to enhance the market growth. Furthermore, increase in technological advancement coupled with increased integration of healthcare IT are also expected to fuel the growth of teleradiology market.

The other factors include increase in government expenditure to further couple with increase in orthopedic disorders and increase in patient pool are also expected to further promote the market growth. However, lack of skilled radiologist and lack data security are expected to inhibit the growth of teleradiology market. Furthermore, increase in strategic collaboration and innovations are also expected to create lucrative opportunities in the teleradiology market.

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Market Segmentations and Scope of the Study:

The global teleradiology market share is analyzed on the basis of imaging technique, technology, end user and geography. On the basis of imaging technique, the market is segmented into X-rays, Computed Tomography (CT), Ultrasound, Magnetic Resonance Imaging (MRI), nuclear imaging, Fluoroscopy, Mammography, and Others. Based on technology, the market is fragmented into hardware, software, telecom and networking. The software is sub segmented into Picture Archiving and Communication System (PACS) and Radiology Information System (RIS). The Telecom & Networking is further divided into Web-Based Teleradiology Solutions and Cloud-Based Teleradiology Solutions. On the basis of end user, the market is divided into Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Asia-Pacific, Europe, and RoW.

Geographical Analysis

North America is expected to account for the major market share owing to the increased adoption of teleradiology services. Furthermore, increase in technological advancement and increase in healthcare infrastructure and increased prevalence of chronic disorders are further expected to accelerate the growth of teleradiology market.

Asia Pacific is expected to show rapid growth over with gradual increase in market share owing to the increasing accessibility to healthcare facilities and increase in disposable income. Moreover, increase in digital diagnostics coupled with increase in government initiatives are further expected to augment the growth of teleradiology market in the near future.

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