Teleradiology Market Growth Attributed to Advancements in Medical Software

Posted by IndustryARC on May 31st, 2019

The demand for teleradiology market is increasing owing to the technological advancements and rising need for teleradiology services. There are plenty of scopes in the image interpretation and diagnostic services such as Computer Tomography (CT) and Magnetic Resonance Imaging (MRI) which influences the growth of teleradiology market. Teleradiology market report of IndustryARC states that the global teleradiology market size accounted .68 billion in 2018. Furthermore, the demand in the teleradiology market is anticipated to rise at a CAGR of 18.58% during the forecast period 2019-2025.

The report is titled “Teleradiology Market: By Product (X-ray, Computed Tomography, Ultrasound, Nuclear Imaging, Magnetic Resonance Imaging), By Application (Tele-consulting, Tele-diagnosis) By Category (Hardware, Software) & By Region – Forecast (2019 - 2025).” It consolidates an in-depth assessment of the competitive landscape, product portfolio, market trends, application analysis, end-use industry, product market sizing, and strategic analysis of the global teleradiology market.

Teleradiology Market: Leading Segments

The teleradiology service providers along with experts, high-end equipment, interpret reports, address the skill gap and provide effective clinical outcomes. Medical institutions and hospitals are outsourcing radiology services such as MRI, CT, X-ray and Magnetic Resonance Angiography (MRA), Positron emission tomography (PET) Scan/Imaging, to read and interpret. With the increasing clinical data, consumer-focused healthcare, X-Ray services are identified as the fastest growing services in the teleradiology market based on the products offered and is projected to grow at a CAGR of 19.35% during the forecast period 2019-2025.

The U.S. telehealth market is highly regulated. Teleradiology, telediagnosis, and telemonitoring services have progressed to the next level in the U.S. owing to quality care at low-cost, remote access to patients, and no traveling cost. Rising demand from patients and healthcare organizations to meet high standards in diagnostic services offered,  are creating opportunities for teleradiology service providers market. Geographically, North America teleradiology market accounted for a share of 38% as of 2018. However, emerging countries such as India, are yet to build a regulatory structure to succeed challenges of data privacy, handling legal issues, and meeting standards.

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Teleradiology Market: Disruptive Trends

• Teleradiology market started to gain its momentum when combined with the cloud-based technology is now evolving further with artificial intelligence and deep learning.
• Efficiency and accuracy of workflow continue to be the dynamic factors of the market as the need for consumer-focused healthcare and clinical data increases.
• Less number of radiologists along with the necessity to improve the precision access of clinical reports are thriving the demand for the market.
• Teleradiology outsourcing companies are meeting the challenges of changing business environment by re-evaluating their operations, finding ways to expand their business by introducing services such as innovative Radiology Information System (RIS)/Picture Archiving And Communications System (PACS)-integrated technology, digital mammography or a new high field open MRI system, to attract new customers’ groups. As a result, teleradiology addresses these needs cost-effectively and productively.
• The challenges faced by imaging centers such as network bandwidth to handle large image datasets, entire or limited lack of access to relevant previous images and reports, are facilitating significant opportunities to the teleradiology service providers.

Teleradiology Market: Competitive Landscape

Virtual Radiologic, Cybernet Medical Corporation, Global Diagnostics Ltd., Medica Reporting Ltd, Agfa-Gevaert N.V., Sectra AB, RamSoft, Inc., Radisphere National Radiology Group Inc, Sectra AB, and Everlight Radiology are the key competitors, which are operating with larger market share in the global teleradiology market.

What can you expect from the report?

The Teleradiology Market is Prepared with the Main Agenda to Cover the following 20 points:

1. Teleradiology Market Size by Product Categories & Application

2. Teleradiology Market trends & Relevant Market Data

3. Manufacturer Landscape

4. Distributor Landscape

5. Pricing Analysis

6. Top 10 End-user Analysis

7. Product Benchmarking

8. Product Developments

9. Mergers & Acquisition Analysis

10. Patent Analysis

11. Teleradiology Market Demand Analysis (Revenue & Volume)

12. Country-level Analysis

13. Competitor Analysis

14. Teleradiology Market Shares Analysis

15. Value Chain Analysis

16. Supply Chain Analysis

17. Teleradiology Market Strategic Analysis

18. Teleradiology Market Current & Future Market Landscape Analysis

19. Opportunity Analysis

20. Teleradiology Market Revenue and Volume Analysis

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