PUBLISHER: Allied Market Research | PRODUCT CODE: 1414721
PUBLISHER: Allied Market Research | PRODUCT CODE: 1414721
According to a new report published by Allied Market Research, titled, "Teleradiology Market," The teleradiology market was valued at $8.8 billion in 2022, and is estimated to reach $46.8 billion by 2032, growing at a CAGR of 18.1% from 2023 to 2032.
According to Radiological Society of North America, the number of radiologists in the workforce is not growing as fast as the population and the demand for imaging. The global shortage of radiologists amplifies the significance of teleradiology, offering a solution by enabling remote interpretation of medical images. This not only optimizes the use of radiologists but also ensures timely and efficient diagnoses, marking teleradiology as an indispensable tool in advancing and broadening the scope of diagnostic services on a global scale. Thus, the growing shortage of radiologists is contributing to the market growth.
Moreover, the escalating prevalence of targeted diseases, notably cancer and cardiovascular diseases, significantly propels the growth of the teleradiology market. According to the American Cancer Society, an estimated 1,958,310 new cancer cases are projected in the U.S., emphasizing the critical need for advanced diagnostic services. Similarly, the World Heart Federation reports that over half a billion people worldwide are affected by cardiovascular diseases. The surge in these specific health conditions amplifies the demand for medical imaging, wherein teleradiology services play a pivotal role. As the need for accurate and timely diagnoses intensifies with the rising incidence of targeted diseases, teleradiology emerges as a crucial solution, contributing to improved patient outcomes and driving the overall growth of the market.
Furthermore, the growth of the teleradiology market is propelled by the increasing implementation of key strategies among major industry players, including service launches, acquisitions, and agreements. For instance, Everlight Radiology, a prominent teleradiology services provider, introduced an enhanced Acute Stroke reporting service led by experienced neuroradiologists, addressing the rising demand for timely and reliable reporting in determining patient suitability. Additionally, Radiology Partners (RP), a leading U.S. radiology practice, completed the acquisition of MEDNAX Radiology Solutions in December 2020. This strategic move expands service coverage into new areas, incorporating large-scale clinical programs and technology solutions. These initiatives by key players play a pivotal role in driving the sustained growth of the teleradiology market during the forecast period.
The teleradiology market is segmented on the basis of imaging technique, type, end user, and region. On the basis of imaging technique, the market is classified into x-rays, computed tomography (CT), ultrasounds, magnetic resonance imaging (MRI), nuclear imaging, fluoroscopy, mammography, and others. As per type, the market is categorized into teleradiology service and teleradiology hardware & solutions. The teleradiology hardware & solutions segment is further divided into hardware, software, and telecom & networking. The software segment is further divided into picture archiving and communication system (PACS) and radiology information system (RIS). The telecom & networking segment is further bifurcated into web-based teleradiology solutions and cloud-based teleradiology solutions. Depending on end user, market is fragmented into hospital, diagnostic centers, and others. Region-wise, the market is analyzed across North America (U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
The major key players that operate in the global teleradiology market are FUJIFILM Corporation, Koninklijke Philips N.V., Siemens AG, Everlight Radiology LLC, Radiology Partners, Compumed Inc, Teleradiology Solutions, imeXHS, Nano X Imaging Ltd., and GE Healthcare.
Additional benefits you will get with this purchase are:
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
Type
Type