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Global Teleradiology Market Size, Trends and Analysis - Forecasts 2026 By Products & Services (Hardware, Software, Services), By Imaging Technique (Nuclear Imaging, Magnetic Resonance Imaging (MRI), Computed Tomography, Ultrasound, Mammography, X-Ray, Fluoroscopy, Others), By End-User (Hospitals & Clinics, Diagnostic Imaging Centers & Laboratories, Long Term Care Centers, Nursing Homes, Assisted Living Facilities, Others), By Region (North America, Europe, Asia-Pacific, MEA, CSA); End User Landscape, Vendor Landscape, and Company Market Share Analysis & Competitor Analysis
Teleradiology Market Insights
The global teleradiology market is estimated to witness a significant CAGR during the forecast period (2020-2026). Teleradiology is the ability to obtain medical images and the practice is implemented widely by hospitals, urgent care clinics, and specialist imaging companies. Moreover, the growing use of blockchain technology in healthcare is also likely to drive the market growth. Growing R&D activities pertaining to eHealth is expected to propel the market growth over the coming years. However, lack of adequate staff to provide radiological coverage, lack of expertise in this specialty, and data breach of imaging reports are some of the factors hampering the growth of the market.
Teleradiology Market Size: By Products and Services
Based on the products and services, the market is segmented into services, hardware, and software. Teleradiology service is expected to hold the largest market share over the coming years due to the rising burden of several diseases and the shortage of radiologists. Moreover, the high incidence of chronic diseases is propelling the market growth. Furthermore, the teleradiology software segment is expected to grow at a high CAGR during the forecast period.
Teleradiology Market Size: By Imaging Technique
Based on the imaging technique, the market is segmented into nuclear imaging, magnetic resonance imaging (MRI), computed tomography, ultrasound, mammography, fluoroscopy, and X-Ray. The X-ray segment accounted for the largest market share during the forecast period due to high usage in primary diagnosis, and the launch of innovative systems such as filmless x-ray systems. Furthermore, the computed tomography segment is expected to grow at a high CAGR during the forecast period. Unlike x-ray imaging radiography, CT enables direct imaging and provides faster and clear images of complex body organs, such as the brain, cardiac cavities, and lungs, among others.
Teleradiology Market Size: By End-User
Based on end-user, the market is segmented into hospitals & clinics, diagnostic imaging centers & laboratories, long term care centers, nursing homes, and assisted living facilities, among others. The hospitals & clinics segment is expected to hold the largest market share in terms of revenue during the forecast period due to the increasing number of medical imaging procedures conducted in hospitals, rising tendency of hospitals to automation, and patient digitization. Better access, quick imaging results, and low radiology costs contribute to making hospitals more competitive. Moreover, an increasing number of emergency visits in hospitals is propelling the market growth. Furthermore, the diagnostic imaging centers & laboratories segment is expected to grow at a high CAGR during the forecast period. Teleradiology provides radiologists to read images and a growing number of private imaging centers is driving the market growth.
Teleradiology Market Size: By Region
Based on region, the market is segmented into North America, Europe, the Middle East, & Africa, CSA, and the Asia Pacific. The North America region is expected to hold the largest market share during the forecast period. Furthermore, the Asia-Pacific region is expected to grow at a high CAGR over the coming years.
Teleradiology Market Share & Competitor Analysis
Some of the key players operating in the teleradiology market include: Philips Healthcare, Carestream Health, Inc. Onrad, INC. Usarad Holdings, Inc., Mednax Services, Inc., Teleradiology Solutions, Fujifilm Holdings Corporation, Agfa Healthcare, Cerner Corporation, Mckesson Corporation, Siemens Healthineers, Telediagnostic Solutions Pvt. Ltd. Statrad LLC, Medweb LLC, Nautilus Medical, Ramsoft, Inc., Everlight Radiology, Novarad Corporation, Telerad Tech, and Webrad Teleradiology, among others.
Please note: This is not an exhaustive list of companies profiled in the report.
In June 2020, Phillips Healthcare signed a partnership agreement with American Telemedicine Association (ATA). This partnership is done to promote the adoption of telehealth in the U.S.
In April 2020, Teleradiology Solutions, a teleradiology service provider and technology company, along with the Emergency Radiology Society and the faculty of AIIMS India, arranged a webinar on Imaging COVID-19
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Check the Press Release on Global Teleradiology Market Report
Teleradiology Market: By Products & Services
Teleradiology Market: By Imaging Technique
Teleradiology Market: By End-User
Teleradiology Market: By Region
The global Teleradiology Market has been studied from the year 2017 till 2026. However, the CAGR provided in the report is from the year 2018 to 2026. The research methodology involved three stages: Desk research, Primary research, and Analysis & Output from the entire research process.
The desk research involved a robust background study which meant referring to paid and unpaid databases to understand the market dynamics; mapping contracts from press releases; identifying the key players in the market, studying their product portfolio, competition level, annual reports/SEC filings & investor presentations; and learning the demand and supply side analysis for the Teleradiology Market.
The primary research activity included telephonic conversations with more than 50 tier 1 industry consultants, distributors, and end-use product manufacturers.
Finally, based on the above thorough research process, an in-depth analysis was carried out considering the following aspects: market attractiveness, current & future market trends, market share analysis, SWOT analysis of the companies and customer analytics.
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