Teleradiology Market
SHARE
PUBLISHED: 2022 ID: SMRC21506
SHARE

Teleradiology Market Forecasts to 2028 – Global Analysis By Technology (Software, Services), Application (Dental, Cardiology, Oncology), End User, and By Geography

4.9 (26 reviews)
4.9 (26 reviews)
Published: 2022 ID: SMRC21506

This report covers the impact of COVID-19 on this global market
Loading...

According to Stratistics MRC, the Global Teleradiology Market is accounted for $7.43 billion in 2021 and is expected to reach $22.71 billion by 2028 growing at a CAGR of 17.3% during the forecast period. Teleradiology is a branch of telemedicine that involves the transmission of radiological images and related data from one location to another for diagnostic and consulting purposes. It is a progressive technology that has developed because of the imbalance between the need and availability of diagnostic services.

Market Dynamics:

Driver:

Increasing number of advanced imaging procedures


The rise in imaging procedures is likely to drive the demand for advanced teleradiology solutions for reliability and efficiency. A high degree of technical skill and expertise is needed to handle advanced and sophisticated diagnostic imaging systems, thus fueling the growing complexity of cases with a shortage of adequate resources. The implementation of teleradiology solutions has helped bridge the rural-urban disparity in many emerging countries as well as developed economies. These solutions are more convenient and cost-effective as they remove the need for travel and allow radiologists to work from anywhere.

Restraint:

Insufficient integration of patient history with data security concerns


Insufficient integration of patient history data, and also the concerns associated with patient data security are restraining the market growth. Data integration includes the lack of a standard format for the data, and also a lack of a holistic approach for the handling of data. Several misconceptions in relation to the privacy of patients’ data and data and many healthcare organizations have an incomplete understanding of laws governing data privacy and sharing, which leads to the creation of these major factors restraining the global market growth.

Opportunity:

Adoption of artificial intelligence


Artificial intelligence is one of the most promising technology in the field of teleradiology. The adoption of artificial intelligence is higher in CT and MRI systems; likewise, based on applications, artificial intelligence is majorly used in neuroradiology. Many players in this market have increased their offerings in the field of artificial intelligence. AI can help create an inbuilt system that prioritizes cases based on a protocol requirement. Cases of trauma and stroke can be prioritized and assigned to the radiologist’s work lists, thereby saving many lives, which is providing ample opportunities for the growth of the market.

Threat:

Limited access to high-speed internet in rural areas


Radiologists working remotely require a good internet connection. The lack of high-speed broadband connections affects expanding access to teleradiology services in rural areas. The limited access to high-speed internet connection affects the ability of radiologists to join in video consultations, transmit medical image reports, and monitor patients’ health conditions remotely. Therefore, the lack of a reliable internet connection or poor broadband connections in rural areas is acting as a threat to the expansion of the global market.

The software segment is expected to be the largest during the forecast period

The software segment is estimated to have a lucrative growth as increasing demand for healthcare software has driven software companies to improve interoperability, enhance technical capabilities, and increase data transparency. Many hospitals are deploying teleradiology software solutions to improve the efficiency of healthcare providers and improve patient outcomes.

The hospitals and clinics segment is expected to have the highest CAGR during the forecast period

The hospitals and clinics segment is anticipated to witness the fastest CAGR growth during the forecast period owing to the increasing number of diagnostic imaging procedures performed in hospitals, the growing inclination of hospitals towards the automation and digitization of patient records, and the rising need to improve the quality of patient care.

Region with highest share:

North America is projected to hold the largest market share during the forecast period due to increased funding by government agencies and a rise in focus on the use of teleradiology services in diagnostic centers, ambulatory surgical centers, hospitals in this region. Adoption of advanced teleradiology solutions, coupled with the increasing prevalence of chronic and medical emergencies and the increasing number of patients in remote locations are other factors boosting growth in the region.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period owing to increasing awareness about the benefits of early disease diagnosis, developments in healthcare systems, growing medical tourism market, increasing healthcare expenditure, and government initiatives for modernizing healthcare infrastructure. Recent developments in the Asia Pacific such as Philips launch of teleradiology services in China, and the presence of a huge potential population in the region with no access to immediate radiologists’ support, together are likely to drive the market.

Key players in the market

Some of the key players profiled in the Teleradiology Market include WebRad TeleRadiology, USARAD Holdings, Inc., Teleradiology Solutions, Medica Group Plc., TeleDiagnostic Solutions Pvt. Ltd., StatRad LLC, MedWeb LLC, RamSoft Inc., Philips Healthcare, ONRAD Inc., NovaRad Corporation, Mirada Medical, Siemens Healthineers, McKesson Corporation, GE Healthcare, FUJIFILM Holdings Corporation, Cerner Corporation, Agfa Healthcare, 4ways Healthcare, Telerad Tech and Nautilus Medical.     

Key Developments:

In August 2021, GE Healthcare introduced a cloud-based Edison True PACS that provides innovative & AI-enabled decision-making tools which help enhance reading speed, reduce errors, improve diagnostic precision, and enable confident diagnoses.

In Jan 2021, Medica Group partnered with Sectra AB to provide a new Picture Archive and Communication System (PACS) for elective and emergency NightHawk reporting. This development is expected to help hospitals with a wide range of emergency imaging reports reading in an average of 23 minutes.
 
Technologies Covered:
• Software
• Telecom & Networking
• Services
 
Imaging Techniques Covered:
• X-Ray  
• Ultrasound  
• Positron Emission Tomography (PET) / Single Photon Emission Computed Tomography (SPECT)  
• Nuclear Imaging  
• Mammography  
• Fluoroscopy  
• Electromammography  
• Computed Tomography (CT)  
• Magnetic Resonance Imaging (MRI)  
 
Applications Covered:
• Orthopedic  
• Dental  
• Neurology  
• Gastroenterology  
• Obstetrician-Gynecologist (OBG & GYN)  
• Cardiology  
• Oncology  
 
End Users Covered:
• Radiology Clinics 
• Nursing Homes 
• Long Term Care Centers 
• Assisted Living Facilities  
• Hospitals and Clinics 
• Diagnostic Imaging Center and Laboratories 
• Ambulatory Imaging Center 
 
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China       
o India       
o Australia 
o New Zealand
o South Korea
o Rest of Asia Pacific   
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

1 Executive Summary           
             
2 Preface       
     
 2.1 Abstract           
 2.2 Stake Holders          
 2.3 Research Scope          
 2.4 Research Methodology         
  2.4.1 Data Mining         
  2.4.2 Data Analysis         
  2.4.3 Data Validation         
  2.4.4 Research Approach         
 2.5 Research Sources          
  2.5.1 Primary Research Sources        
  2.5.2 Secondary Research Sources        
  2.5.3 Assumptions         
             
3 Market Trend Analysis          
 3.1 Introduction          
 3.2 Drivers           
 3.3 Restraints          
 3.4 Opportunities          
 3.5 Threats           
 3.6 Technology Analysis         
 3.7 Application Analysis         
 3.8 End User Analysis          
 3.9 Emerging Markets          
 3.10 Impact of Covid-19          
              
4 Porters Five Force Analysis          
 4.1 Bargaining power of suppliers         
 4.2 Bargaining power of buyers         
 4.3 Threat of substitutes         
 4.4 Threat of new entrants         
 4.5 Competitive rivalry          
              
5 Global Teleradiology Market, By Technology        
 5.1 Introduction          
 5.2 Software           
  5.2.1 Radiology Information System (RIS)       
  5.2.2 Picture Archiving and Communication System (PACS)     
 5.3 Telecom & Networking         
  5.3.1 Cloud-Based         
  5.3.2 Web-Based         
 5.4 Services           
  5.4.1 Specialty          
  5.4.2 Nighthawk & Emergency        
  5.4.3 Monitoring         
  5.4.4 General Consultation/Diagnosis       
  5.4.5 Second Opinion         
             
6 Global Teleradiology Market, By Imaging Technique       
 6.1 Introduction          
 6.2 X-Ray           
 6.3 Ultrasound          
 6.4 Positron Emission Tomography (PET) / Single Photon Emission Computed Tomography (SPECT)  
 6.5 Nuclear Imaging          
 6.6 Mammography          
 6.7 Fluoroscopy          
 6.8 Electromammography         
 6.9 Computed Tomography (CT)         
 6.10 Magnetic Resonance Imaging (MRI)        
             
7 Global Teleradiology Market, By Application     
   
 7.1 Introduction          
 7.2 Orthopedic          
 7.3 Dental           
 7.4 Neurology          
 7.5 Gastroenterology          
 7.6 Obstetrician-Gynecologist (OBG & GYN)        
 7.7 Cardiology          
 7.8 Oncology           
             
8 Global Teleradiology Market, By End User     
   
 8.1 Introduction          
 8.2 Radiology Clinics          
 8.3 Nursing Homes          
 8.4 Long Term Care Centers         
 8.5 Assisted Living Facilities          
 8.6 Hospitals and Clinics         
 8.7 Diagnostic Imaging Center and Laboratories       
 8.8 Ambulatory Imaging Center         
             
9 Global Teleradiology Market, By Geography        
 9.1 Introduction          
 9.2 North America          
  9.2.1 US          
  9.2.2 Canada          
  9.2.3 Mexico          
 9.3 Europe           
  9.3.1 Germany          
  9.3.2 UK          
  9.3.3 Italy          
  9.3.4 France          
  9.3.5 Spain          
  9.3.6 Rest of Europe         
 9.4 Asia Pacific          
  9.4.1 Japan          
  9.4.2 China          
  9.4.3 India          
  9.4.4 Australia          
  9.4.5 New Zealand         
  9.4.6 South Korea         
  9.4.7 Rest of Asia Pacific         
 9.5 South America          
  9.5.1 Argentina         
  9.5.2 Brazil          
  9.5.3 Chile          
  9.5.4 Rest of South America        
 9.6 Middle East & Africa         
  9.6.1 Saudi Arabia         
  9.6.2 UAE          
  9.6.3 Qatar          
  9.6.4 South Africa         
  9.6.5 Rest of Middle East & Africa        
             
10 Key Developments           
 10.1 Agreements, Partnerships, Collaborations and Joint Ventures      
 10.2 Acquisitions & Mergers         
 10.3 New Product Launch          
 10.4 Expansions          
 10.5 Other Key Strategies         
             
11 Company Profiling           
 11.1 WebRad TeleRadiology          
 11.2 USARAD Holdings, Inc.          
 11.3 Teleradiology Solutions         
 11.4 Medica Group Plc.          
 11.5 TeleDiagnostic Solutions Pvt. Ltd.         
 11.6 StatRad LLC           
 11.7 MedWeb LLC          
 11.8 RamSoft Inc.           
 11.9 Philips Healthcare           
 11.10 ONRAD Inc.           
 11.11 NovaRad Corporation           
 11.12 Mirada Medical           
 11.13 Siemens Healthineers          
 11.14 McKesson Corporation          
 11.15 GE Healthcare          
 11.16 FUJIFILM Holdings Corporation        
 11.17 Cerner Corporation          
 11.18 Agfa Healthcare          
 11.19 4ways Healthcare          
 11.20 Telerad Tech          
 11.21 Nautilus Medical           


List of Tables            
1 Global Teleradiology Market Outlook, By Region (2020-2028) ($MN)      
2 Global Teleradiology Market Outlook, By Technology (2020-2028) ($MN)      
3 Global Teleradiology Market Outlook, By Software (2020-2028) ($MN)      
4 Global Teleradiology Market Outlook, By Radiology Information System (RIS) (2020-2028) ($MN)   
5 Global Teleradiology Market Outlook, By Picture Archiving and Communication System (PACS) (2020-2028) ($MN)  
6 Global Teleradiology Market Outlook, By Telecom & Networking (2020-2028) ($MN)    
7 Global Teleradiology Market Outlook, By Cloud-Based (2020-2028) ($MN)     
8 Global Teleradiology Market Outlook, By Web-Based (2020-2028) ($MN)      
9 Global Teleradiology Market Outlook, By Services (2020-2028) ($MN)      
10 Global Teleradiology Market Outlook, By Specialty (2020-2028) ($MN)      
11 Global Teleradiology Market Outlook, By Nighthawk & Emergency (2020-2028) ($MN)    
12 Global Teleradiology Market Outlook, By Monitoring (2020-2028) ($MN)      
13 Global Teleradiology Market Outlook, By General Consultation/Diagnosis (2020-2028) ($MN)    
14 Global Teleradiology Market Outlook, By Second Opinion (2020-2028) ($MN)     
15 Global Teleradiology Market Outlook, By Imaging Technique (2020-2028) ($MN)     
16 Global Teleradiology Market Outlook, By X-Ray (2020-2028) ($MN)      
17 Global Teleradiology Market Outlook, By Ultrasound (2020-2028) ($MN)      
18 Global Teleradiology Market Outlook, By Positron Emission Tomography (PET) / Single Photon Emission Computed Tomography (SPECT) (2020-2028) ($MN)
19 Global Teleradiology Market Outlook, By Nuclear Imaging (2020-2028) ($MN)     
20 Global Teleradiology Market Outlook, By Mammography (2020-2028) ($MN)     
21 Global Teleradiology Market Outlook, By Fluoroscopy (2020-2028) ($MN)     
22 Global Teleradiology Market Outlook, By Electromammography (2020-2028) ($MN)      
23 Global Teleradiology Market Outlook, By Computed Tomography (CT) (2020-2028) ($MN)    
24 Global Teleradiology Market Outlook, By Magnetic Resonance Imaging (MRI) (2020-2028) ($MN)   
25 Global Teleradiology Market Outlook, By Application (2020-2028) ($MN)      
26 Global Teleradiology Market Outlook, By Orthopedic (2020-2028) ($MN)      
27 Global Teleradiology Market Outlook, By Dental (2020-2028) ($MN)      
28 Global Teleradiology Market Outlook, By Neurology (2020-2028) ($MN)      
29 Global Teleradiology Market Outlook, By Gastroenterology (2020-2028) ($MN)     
30 Global Teleradiology Market Outlook, By Obstetrician-Gynecologist (OBG & GYN) (2020-2028) ($MN)   
31 Global Teleradiology Market Outlook, By Cardiology (2020-2028) ($MN)       
32 Global Teleradiology Market Outlook, By Oncology (2020-2028) ($MN)      
33 Global Teleradiology Market Outlook, By End User (2020-2028) ($MN)      
34 Global Teleradiology Market Outlook, By Radiology Clinics (2020-2028) ($MN)     
35 Global Teleradiology Market Outlook, By Nursing Homes (2020-2028) ($MN)     
36 Global Teleradiology Market Outlook, By Long Term Care Centers (2020-2028) ($MN)    
37 Global Teleradiology Market Outlook, By Assisted Living Facilities (2020-2028) ($MN)    
38 Global Teleradiology Market Outlook, By Hospitals and Clinics (2020-2028) ($MN)     
39 Global Teleradiology Market Outlook, By Diagnostic Imaging Center and Laboratories (2020-2028) ($MN)  
40 Global Teleradiology Market Outlook, By Ambulatory Imaging Center (2020-2028) ($MN)    
             
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

Frequently Asked Questions

In case of any queries regarding this report, you can contact the customer service by filing the “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

Yes, the samples are available for all the published reports. You can request them by filling the “Request Sample” option available in this page.

Yes, you can request a sample with your specific requirements. All the customized samples will be provided as per the requirement with the real data masked.

All our reports are available in Digital PDF format. In case if you require them in any other formats, such as PPT, Excel etc you can submit a request through “Inquiry Before Buy” form available on the right hand side. You may also contact us through email: info@strategymrc.com or phone: +1-301-202-5929

We offer a free 15% customization with every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

We have 3 different licensing options available in electronic format.

  • Single User Licence: Allows one person, typically the buyer, to have access to the ordered product. The ordered product cannot be distributed to anyone else.
  • 2-5 User Licence: Allows the ordered product to be shared among a maximum of 5 people within your organisation.
  • Corporate License: Allows the product to be shared among all employees of your organisation regardless of their geographical location.

All our reports are typically be emailed to you as an attachment.

To order any available report you need to register on our website. The payment can be made either through CCAvenue or PayPal payments gateways which accept all international cards.

We extend our support to 6 months post sale. A post sale customization is also provided to cover your unmet needs in the report.

Request Customization

We provide a free 15% customization on every purchase. This requirement can be fulfilled for both pre and post sale. You may send your customization requirements through email at info@strategymrc.com or call us on +1-301-202-5929.

Note: This customization is absolutely free until it falls under the 15% bracket. If your requirement exceeds this a feasibility check will be performed. Post that, a quote will be provided along with the timelines.

WHY CHOOSE US ?

Assured Quality

Assured Quality

Best in class reports with high standard of research integrity

24X7 Research Support

24X7 Research Support

Continuous support to ensure the best customer experience.

Free Customization

Free Customization

Adding more values to your product of interest.

Safe and Secure Access

Safe & Secure Access

Providing a secured environment for all online transactions.

Trusted by 600+ Brands

Trusted by 600+ Brands

Serving the most reputed brands across the world.

Testimonials