The global teleradiology market is expected to be around $10 billion by 2025. This can be primarily attributed to number of factors such as increasing incidence of chronic diseases, growing number of emergency cases, increase in number of diagnostic imaging scans, and implementation of picture archiving and communication system (PACS). In addition to this, ongoing improvements in telecommunication and imaging modalities will further trigger the demand for tele-diagnosis, tele-consultation, and tele-monitoring. Moreover, the instant remote access to the images on the cloud network facilitates radiologists to efficiently diagnose, consult, and monitor the patient at remote locations.
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Teleradiology Market Modality Outlook
On the basis of modality, the market is classified into X-ray, magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, and nuclear radiology.
Among these, X-ray segment held major share of the global teleradiology market in 2016. This segment is projected to dominate the market throughout the forecast period. This large market share can be attributed to a number of factors such as the growing number of X-ray scans due to increasing number of bone related fractures and dental injuries. Moreover, development of technologically advanced filmless X-ray systems will further contribute to the market growth.
Computed tomography market is projected to be the fastest growing segment during the forecast period as this is one of the most widely adopted imaging modality due to its high resolution imaging capacity. Additionally, launch of new generation CT models will further drive the growth of the market.
Ultrasound is one of the most popular diagnostic imaging modality. It is the most widely used imaging technique for observing the fetus during pregnancy. It is also used in the detection of other medical ailments in women. The market for ultrasound segment is primarily driven by factors such as development of 3D and 4D ultrasound systems and associated advantages such as the portability, minimal invasive, cost effective and low radiation risk.
Teleradiology Market Regional Outlook
North America accounted for the largest share of the global teleradiology market in 2016. This large share is primarily attributed to number of factors such as the availability of high speed internet services in the region, high adoption rate of technologically advanced products, and presence of developed infrastructure along with high healthcare expenditure.
The Asia-Pacific teleradiology market is projected to exhibit significant growth during the forecast period due to huge patient population and increasing healthcare expenditure in countries such as China and India. In addition to this, the growing demand for advanced medical platforms will further contribute to the market growth.
Teleradiology Market: Competitive Insights
The key players in the teleradiology market emphasize on strategic expansion through collaborations, mergers and acquisitions to increase their presence in the global market. For instance, in October 2016, ARIS Radiology, acquired US Teleradiology, an Atlanta based teleradiology company, to provide an extended range of radiology services and staffing solutions to medical facilities.
Some of the major players in the teleradiology market are Virtual Radiologic Corporation (an affiliate of MEDNAX Inc.), Agfa-Gevaert N.V., ONRAD, Inc., Everlight Radiology Pty Ltd, Cybernet Systems Corporation, RamSoft, Inc., Spectra AB, StatRad, LLC. and USARAD Holdings, Inc.
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Table of Contents:
1.1. Report Description
1.2. Research Methodology
2. Executive Summary
2.1. Key Highlights
3. Market Overview
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
126.96.36.199. Increase in Number of Diagnostic Imaging Scans
188.8.131.52. Growing Number of Emergency Cases
184.108.40.206. Implementation of Picture Archiving and Communication System (PACS)
220.127.116.11. Lack of Data Security
18.104.22.168. Emerging Markets to Offer Lucrative Growth Opportunities
4. Teleradiology Market, By Modality
4.2. Teleradiology Market Assessment and Forecast, By Modality, 2016-2025
4.3.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
4.4. Magnetic Resonance Imaging (MRI)
4.4.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
4.5. Computed Tomography (CT)
4.5.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
4.6.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
4.7. Nuclear Radiology
4.7.1. Market Assessment and Forecast, By Region, 2016-2025 ($Million)
…CONTINUED FOR TOC
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