Teleradiology Market to be Worth US$ 13.2 Billion by the End of 2026

According to National Institute of Cancer, 448.7 new cancer cases per 100,000 men and women are diagnosed each year in the US. Taking into account the gravity of such details, the demand for teleradiology is expected to surge not just in the US, but in regions witnessing higher concurrence of cancer. In its latest report, Future Market Insights assesses that the global demand for teleradiology will soar vigorously in the years to come. And, the report projects that largest share of global teleradiology revenues will be emanating from the US alone. The country will not only account for dominance of North America in the global teleradiology market, but by the end of 2026, US teleradiology revenues will have closed in on US$ 5.5 Bn value. During this period, the US teleradiology market is expected to reflect a sizeable gain of 416 BPS, exhibiting a stellar CAGR of 22.3%.

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According to Future Market Insights, the global market for teleradiology is presently valued at US$ 1.9 Bn, and is anticipated to be worth US$ 13.2 Bn by the end of 2026, reflecting a CAGR of 21%. The report, titled “Teleradiology Market: Global Industry Analysis and Opportunity Assessment, 2016-2026,” has analysed the global teleradiology market by splitting other parts of the world from the US. Dominance of US on the global teleradiology market is expected to remain throughout the forecast. Teleradiology Solutions, Argus Radiology, USARAD Holdings, Inc., TeleDiagnosys Services Pvt. Ltd., Imaging Advantage, Foundation Radiology Group, Direct Radiology, Imaging On Call, LLC, ONRAD, Inc., Rays (Envision Healthcare Company), StatRad LLC, ARIS Radiology, NightShift Radiology, Mednax, Inc., Alta Vista TeleRadiology, and Quality Nighthawk are US-based companies actively participating in the growth of global teleradiology market.

By modality, the CT Scans segment accounted for more than 25% of the revenue share of the global teleradiology market in 2016 and it is expected to gain a massive 662 basis points by the year 2026 over 2016. CT scans are extremely beneficial to diagnose both cancer and orthopaedic diseases and this should boost market demand over the duration of the forecast period. The market attractiveness index of the CT Scans segment is 2.9 over the decade 2016-2026, making CT Scans the most attractive segment by modality in the global teleradiology market. By the year 2026, the CT Scans segment is anticipated to account for a market share of almost 35%. In terms of value, the CT Scans services market was valued at over half a billion dollars in 2016 and this should rise to nearly US$ 4.6 Bn by the year 2026, registering a substantial CAGR of 23.6%.

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The CT Scans segment held approximately 28% revenue share of the U.S teleradiology market in 2016 and is anticipated to gain 874 basis points by the year 2026 as compared to 2016. The CT Scans segment dominated the U.S. teleradiology market in revenue terms in 2015 and is projected to continue to do so throughout the forecast period. It is the most attractive segment in the U.S teleradiology market, recording an attractiveness index of 3.0 over the forecast period. With a CAGR of 25.7%, the U.S CT Scans services market will be worth almost US$ 2 Bn by the year 2026, making it a highly lucrative segment of the global teleradiology market.

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This release was published on openPR.