Global Teleradiology Market Report and Forecast 2024-2032

Global Teleradiology Market Outlook

The global teleradiology market is expected to grow at a CAGR of about 22% in the forecast period of 2024-2032 to reach a value of around USD 71.89 billion by 2032.

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Growth of the Services Segment to Bolster the Teleradiology Industry Expansion

Based on component, the services segment dominated the teleradiology industry in the historical period. Over the forecast period, the software segment is projected to witness a steady growth owing to the increasing demand for healthcare software, which enhances technical capabilities and increases transparency of data, coupled with the increasing deployment of teleradiology solutions to store data efficiently. Furthermore, the recent outbreak of the COVID-19 has increased the requirement of efficient management solutions to store a large amount of patient data during the pandemic.

The Asia Pacific to Substantially Boost the Teleradiology Industry Growth

North America accounts for a significant share in the teleradiology industry owing to the growing R&D activities, increasing penetration of key players, and integration of artificial intelligence (AI) into teleradiology. Meanwhile, the Asia Pacific region is predicted to witness a robust growth in the forecast period owing to the rising awareness of the benefits of teleradiology, large investments in the healthcare industry, and the increasing medical tourism in emerging countries within the region. Additionally, the rising government initiatives to develop advanced healthcare facilities and infrastructure are projected to aid the growth of the teleradiology industry. The emerging nations such as India and China are predicted to increase their market share due to the development of advanced healthcare infrastructure in these countries.

Teleradiology: Market Segmentation

Teleradiology refers to the branch of telemedicine that involves medical interpretation of images and data is taken to another radiologist at another location for diagnostic and analysis purpose. It provides real time interpretation and effective solutions. It is an advanced technology mostly utilised by hospitals, emergency care centres, and clinics.

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Based on component, the market is divided into:

• Services
• Software
• Hardware

Based on imaging technique, it can be segmented into:

• Computed Tomography
• Magnetic Resonance Imaging
• Ultrasound
• X-Ray
• Mammography
• Nuclear Imaging
• Fluoroscopy
• Others

By end use, it is categorised as:

• Hospitals and Clinics
• Diagnostic Imaging Centres and Laboratories
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing Incidences of Chronic Diseases to Bolster the Teleradiology Industry Growth

The growing prevalence of chronic diseases is driving the growth of the teleradiology industry globally. Moreover, the rising target population and the presence of major market players who are investing tremendously have further augmented the industry's growth. Other factors like the growing awareness regarding the advantages of teleradiology, developing healthcare infrastructure, rising initiatives by the government, and growing innovations in the field of eHealth are also aiding the market growth. The rising geriatric population and increase in the prevalence of associated diseases and growing expenditure by the government on healthcare information is further propelling the market growth.

Over the forecast period, the technological advancements in the medical diagnostic field are slated to provide lucrative growth opportunities to the market.

Key Industry Players in the Global Teleradiology Market

The report gives a detailed analysis of the following key players in the global teleradiology market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Koninklijke Philips N.V.
• Pediatrix Medical Group, Inc.
• USARAD Holdings, Inc.
• Teleradiology Solutions
• Onrad, Inc.
• TeleDiagnosys Services Pvt Ltd
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Teleradiology Market Report Snapshots

Teleradiology Market Size

Teleradiology Companies