How Big is the Teleradiology Market?
IMARC Group, a leading market research company, has recently releases report titled “Teleradiology Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” by IMARC Group, finds that the global teleradiology market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.5 Billion by 2028, exhibiting a growth rate (CAGR) of 15.3% during 2023-2028.
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What is Teleradiology?
Teleradiology is a form of telemedicine where radiological images are transmitted from one place to another for interpretation and diagnosis. This includes CT scans, MRI scans, X-rays, PET scans, and ultrasounds. In emergencies, it provides quicker and more accurate diagnoses, enabling healthcare providers to promptly attend to patients in need of immediate medical attention. It also enhances workflow efficiency by allowing radiologists to work remotely and interpret images from multiple locations, thereby reducing patient wait times and optimizing the overall effectiveness of the healthcare system. Additionally, it helps minimize expenses by eliminating the necessity for on-site radiologists and reducing the need for repeat imaging, which is both costly and time-consuming. Teleradiology is gaining popularity worldwide due to its numerous benefits, including improved consultation, enhanced staffing, and better healthcare access in rural areas.
Teleradiology Market Trends and Drivers:
The rising prevalence of chronic medical conditions such as cancer, diabetes, seizures, and cardiovascular disorders is positively influencing the market. Additionally, the growing elderly population, which faces mobility issues and is more susceptible to these diseases, is also contributing to market growth.
Furthermore, the increasing demand for various radiology procedures like MRI, CT scans, and X-rays in different treatments and surgeries is creating a favorable market outlook. Besides this, the widespread adoption of teleradiology in healthcare information and communication technology (HCIT) is another driver for market growth as it enables cost-effective analysis of radiological images.
Additionally, the integration of advanced technologies such as artificial intelligence (AI) and machine learning (ML) with teleradiology is bolstering the market growth. Moreover, the increasing investments in R&D activities to innovate advanced teleradiology technologies and improve workflow efficiency are contributing to the market’s expansion.
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Who are the key players operating in the industry?
- 4ways Healthcare Limited
- Agfa-Gevaert Group
- Carestream Health
- Cerner Corporation
- FUJIFILM Corporation
- General Electric Company
- Koninklijke Philips N.V.
- McKesson Corporation
- Mednax Services Inc.
- ONRAD Inc.
- RamSoft Inc.
- Siemens AG
- Teleradiology Solutions
- USARAD Holdings Inc.
The report has segmented the market on the basis of region, component, imaging technique and end user.
Breakup by Component:
- Software and Services
- Hardware
Breakup by Imaging Technique:
- X-rays
- Computed Tomography (CT)
- Ultrasound
- Magnetic Resonance Imaging (MRI)
- Nuclear Imaging
- Others
Breakup by End User:
- Hospitals and Clinics
- Ambulatory Surgical Centers
- Diagnostic Centers
- Others
Breakup by Region:
- North America (United States, Canada)
Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
Latin America (Brazil, Mexico, Others)
Middle East and Africa
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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