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Market Research Report

Global Teleradiology Market - 2019-2026

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Global Teleradiology Market - 2019-2026
Published: May 1, 2019 Content info: 130-180 Pages
Description

Teleradiology Market

The global teleradiology market was worth $XX million in 2018 and is forecasted to reach $XX million by 2026, at a CAGR of XX% during the forecast period.

Teleradiology is a branch of telemedicine that helps radiologists to interpret medical images even from a distant location by using technologies such as cloud storage, internet, telephone lines, and voice recognition. Teleradiology involves the transmission of radiological images such as computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and X-rays using network technology and related data from one location to another for diagnostic and consulting purpose. These techniques help in the diagnosis and treatment of disease. Teleradiology uses software such as picture archiving and communication system (PACS) that allows storage of digital radiograph images. Teleradiology is used by urgent care clinics, hospitals, and mobile imaging companies. Teleradiology guarantees on-site solutions with remote access through cloud network globally and real-time interpretation. Teleradiology reduces the workload created due to a large number of radiological scans AS compared to the number of radiologist present.

Global Teleradiology Market Dynamics

The market is driven by the rising prevalence of chronic diseases, such as cancer, osteoporosis and arthritis, high demand for radiology services, rise in geriatric population, technological advancements, and favorable government policies.

According to the World Health Organization (WHO), globally, 9.6% of men and 18% of women aged over 60 years are suffering from different forms of arthritis. Around 80% of people suffering from osteoarthritis have limitations in movement, and around 25% cannot perform daily activities. These diseases lead to high demand for radiology services globally. According to a study conducted by the Royal College of Radiologists (RCR), in the UK, approximately 81% of radiology departments in the United Kingdom were unable to meet diagnostic reporting requirements in 2016. The radiologist workforce grew by 3% between the year 2012 to 2015, but the demand for the number of MRI and CT scan devices rose by 30%.

Poor internet connectivity, low availability of broadband networks, and lack of skilled radiologists are expected to hinder the growth of the market.

According to RCR, in the UK, a radiologist takes around 21 days on an average to submit an MRI report. The late submissions of the report lead to late diagnosis and treatment; teleradiology helps in faster diagnosis even in remote areas.

Global Teleradiology Market Segmentation

The global teleradiology market can be segmented by product type as X-ray, Ultrasound, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Nuclear Imaging, Fluoroscopy, Mammography, and Others and by technology as Hardware, Software, and Telecom and Networking. The software can be sub-segmented as Picture Archiving and Communication System (PACS), and Radiology Information System (RIS) and Telecom and Networking are sub-segmented as Web-Based Teleradiology Solutions and Cloud-Based Teleradiology Solutions. By applications, the market is segmented as teleconsultation, telediagnosis, and telemonitoring.

By product, type X-ray is expected to dominate the market over the period of forecast. X-ray has economical pricing and is the most common form of diagnosis. According to the National Health Service (NHS), around 3.7 million imaging tests were done in England in February 2018, out of these 1.73 million were X-rays. X-ray systems are getting technological advancements such as filmless x-ray systems that help in the growth of the market. X-ray systems have wide applications in a vast range of fields such as cardiovascular diseases, orthopedics, dental imaging, chest imaging, and many more.

By technology, hardware segment is expected to hold the largest market share over the period of forecast. Hardware components in teleradiology include computers, video conferencing units, storage units, image server, and printers. Video conferencing units and computers helps live conversation between radiologist and patient at different locations. Storage units and image servers helps the sharing of diagnostic imaging between patient and doctor via filmless technology. Need for quicker consultation in emergency cases helps in the growth of this segment.

Global Teleradiology Market Geographical Analysis

Geographically, the global teleradiology market is divided into North America, Europe, South America, Asia-Pacific, and the Middle East and Africa.

Europe is expected to hold the largest market share over the period of forecast. Various educational programs aiming to develop the awareness about diagnostic imaging, in an effort for early treatment is boosting the growth of the market in the Europe region. Favorable government initiatives such as a registered charity by RCR, in the UK guides radiologists to deliver advanced radiological service and enhance their practice.

Asia Pacific region is expected to grow at the highest CAGR over the period of forecast due to large population base, high geriatric population, rise in chronic diseases and cancer and legislative amendments made by governments over the region. For instance, the Health Insurance Act 1973 of Australia consists of legislative basis for the delivery of diagnostic imaging services in Australia and enabled Medicare funding for these diagnostic imaging services. Government policies like this have increased access to diagnostic imaging for various conditions.

Global Teleradiology Market Competitive Analysis

Some of the major key players in the market are 4ways Healthcare Ltd., HealthWatch TeleDiagnostics Pvt. Ltd., RamSoft, Inc., Everlight Radiology, Virtual Radiologic, Agfa-Gevaert N.V., Mednax, Inc., Fujifilm Medical Systems, Inc., and Koninklijke Philips.

In March 2019, Siemens Healthineers, launched a Go platform cardiac CT scanner in collaboration with GE Healthcare at American College of Cardiology conference.

In March 2019, DFW MRI chose RamSoft's Powerful RIS/PACS solution to streamline their workflows and take advantage of the appointment confirmation services through RamSoft's OpenDoctor integration.

In February 2019, Optimum Diagnostic Imaging MRI chose RamSoft's Cloud-based PowerServer PACS Lite solution, that provides an intuitive, single database application that enables healthcare practices to operate diagnostic imaging more efficiently.

In November 2018, RamSoft formed a partnership with qliqSOFT; the partnership will transform the way radiologists interact with referring physicians, technologists, staff, and more.

In November 2018, MEDNAX, Inc. launched the MEDNAX Radiology Solutions Artificial Intelligence (MDR-AI) Incubator. The MDR-AI Incubator brings together radiologists, a rich clinical dataset, and a select group of technology partners that will stimulate innovation and product development in radiology.

In November 2018, MEDNAX, Inc. announced the acquisition of Bethesda Radiology Associates, Inc., enhancing the company's portfolio in teleradiology.

Why purchase the report?

  • Visualize the composition of the teleradiology market across each indication, in terms of type and by type highlighting the key commercial assets and players.
  • Identify commercial opportunities in teleradiology by analyzing trends and co-development deals.
  • Excel data sheets with thousands of data points of teleradiology market- level 4/5 segmentation.
  • PDF report with the most relevant analysis cogently put together after exhaustive qualitative interviews and in-depth market study.
  • Product mapping in excel for the key products of all major market players.

Target Audience:

  • Medical device companies
  • Hospitals and clinics
  • Research and consulting firms
  • Healthcare associations/institutes
  • Venture capitalists
  • Government agencies
Table of Contents

Table of Contents

Global Teleradiology Market Methodology and Scope

  • 1.1. Research Methodology
  • 1.2. Research Objective and Scope of the Report

2. Global Teleradiology Market - Market Definition and Overview

3. Global Teleradiology Market - Executive Summary

  • 3.1. Market Snippet by Product Type
  • 3.2. Market Snippet by Technology
  • 3.3. Market Snippet by Application
  • 3.4. Market Snippet by Region
  • 3.5. DataM CLO Scenario

4. Global Teleradiology Market - Market Dynamics

  • 4.1. Market Impacting Factors
    • 4.1.1. Drivers
      • 4.1.1.1. Rising prevalence of chronic diseases
      • 4.1.1.2. High demand of radiology services
      • 4.1.1.3. Technological advancements
      • 4.1.1.4. Favorable government policies
    • 4.1.2. Restraints
      • 4.1.2.1. Poor internet connectivity
      • 4.1.2.2. Low availability of broadband networks
      • 4.1.2.3. Lack of skilled radiologists
    • 4.1.3. Opportunity
    • 4.1.4. Impact Analysis

5. Global Teleradiology Market - Industry Analysis

  • 5.1. Porter's Five Forces Analysis
  • 5.2. Supply Chain Analysis
  • 5.3. Regulatory Analysis
  • 5.4. Epidemiology

6. Global Teleradiology Market - By Product Type

  • 6.1. Introduction
  • 6.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
  • 6.3. Market Attractiveness Index, By Product Type
  • 6.4. X-ray
    • 6.4.1. Introduction
    • 6.4.2. Market Size Analysis, and Y-o-Y Growth Analysis (%)
  • 6.5. Ultrasound
  • 6.6. Magnetic Resonance Imaging (MRI)
  • 6.7. Computed Tomography (CT)
  • 6.8. Nuclear Imaging
  • 6.9. Fluoroscopy
  • 6.10. Mammography
  • 6.11. Others

7. Global Teleradiology Market - By Technology

  • 7.1. Introduction
  • 7.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
  • 7.3. Market Attractiveness Index, By Technology
  • 7.4. Hardware
    • 7.4.1. Introduction
    • 7.4.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026
  • 7.5. Software
    • 7.5.1. Picture Archiving and Communication System (PACS)
    • 7.5.2. Radiology Information System (RIS)
  • 7.6. Telecom and Networking
    • 7.6.1. Web-Based Teleradiology Solutions
    • 7.6.2. Cloud-Based Teleradiology Solutions

8. Global Teleradiology Market - By Application

  • 8.1. Introduction
  • 8.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
  • 8.3. Market Attractiveness Index, By Application
  • 8.4. Tele-consultation
    • 8.4.1. Introduction
    • 8.4.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), 2018-2026
  • 8.5. Tele-diagnosis
  • 8.6. Tele-monitoring

9. Global Teleradiology Market - By Region

  • 9.1. Introduction
  • 9.2. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Region
  • 9.3. Market Attractiveness Index, By Region
  • 9.4. North America
    • 9.4.1. Introduction
    • 9.4.2. Key Region-Specific Dynamics
    • 9.4.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.4.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 9.4.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.4.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.4.6.1. U.S.
      • 9.4.6.2. Canada
      • 9.4.6.3. Mexico
  • 9.5. Europe
    • 9.5.1. Introduction
    • 9.5.2. Key Region-Specific Dynamics
    • 9.5.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.5.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 9.5.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.5.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.5.6.1. Germany
      • 9.5.6.2. U.K.
      • 9.5.6.3. France
      • 9.5.6.4. Italy
      • 9.5.6.5. Spain
      • 9.5.6.6. Rest of Europe
  • 9.6. South America
    • 9.6.1. Introduction
    • 9.6.2. Key Region-Specific Dynamics
    • 9.6.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.6.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 9.6.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.6.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.6.6.1. Brazil
      • 9.6.6.2. Argentina
      • 9.6.6.3. Rest of South America
  • 9.7. Asia-Pacific
    • 9.7.1. Introduction
    • 9.7.2. Key Region-Specific Dynamics
    • 9.7.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.7.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 9.7.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application
    • 9.7.6. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Country
      • 9.7.6.1. China
      • 9.7.6.2. India
      • 9.7.6.3. Japan
      • 9.7.6.4. Australia
      • 9.7.6.5. Rest of Asia Pacific
  • 9.8. Middle East and Africa
    • 9.8.1. Introduction
    • 9.8.2. Key Region-Specific Dynamics
    • 9.8.3. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Product Type
    • 9.8.4. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Technology
    • 9.8.5. Market Size Analysis, and Y-o-Y Growth Analysis (%), By Application

10. Global Market - Competitive Landscape

  • 10.1. Competitive Scenario
  • 10.2. Competitor Teleradiology Strategy Analysis
  • 10.3. Comparative Product Portfolio Analysis
  • 10.4. Market Positioning/Share Analysis
  • 10.5. Mergers and Acquisitions Analysis

11. Company Profiles

  • 11.1. 4ways Healthcare Ltd. *
    • 11.1.1. Company Overview
    • 11.1.2. Product Portfolio and Description
    • 11.1.3. Key Highlights
    • 11.1.4. Financial Overview
  • 11.2. HealthWatch
  • 11.3. TeleDiagnostics Pvt. Ltd.
  • 11.4. RamSoft, Inc.
  • 11.5. Everlight Radiology
  • 11.6. Virtual Radiologic
  • 11.7. Agfa-Gevaert N.V.
  • 11.8. Mednax, Inc.
  • 11.9. Fujifilm Medical Systems, Inc.
  • 11.10. Koninklijke Philips

12. Global Teleradiology Market - Premium Insights

13. Global Teleradiology Market - DataM

  • 13.1. Appendix
  • 13.2. About Us and Services
  • 13.3. Contact Us
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