What is the global market size of Teleradiology Market?

Teleradiology Market size was valued at USD 7.3 billion in 2021 and is poised to grow from USD 8.42 billion in 2022 to USD 30.31 billion by 2030, growing at a CAGR of 15.3% in the forecast period (2023-2030).

Who are the key vendors in the Global Teleradiology Market?

The global teleradiology market is fairly fragmented due to the presence of many well-known international and regional players operating around the globe. The major key players of the market are focusing on several business strategies including new product innovation, technological advancements, collaboration, and strategic partnerships for expanding their geographical presence and product portfolio. 'vRad (Virtual Radiologic)', 'Agfa-Gevaert S.A.', 'ONRAD', 'Global Diagnostics', 'Everlight Radiology', '4ways', 'RamSoft', 'SECTRA IMAGING IT SOLUTIONS AB', 'Healthwatch Telediagnostics', 'Medica Group plc', 'Mednax Services, Inc.', 'USARAD Holdings, Inc.', 'Telemedicine Clinic (UNILABS)', 'Teleradiology Solutions', 'StatRad (NucleusHealth)', 'TeleConsult Europe (TCE)', 'Real Radiology, LLC', 'Specialty Teleradiology, Inc.', 'Qure.ai', 'Africa Telerad Limited', 'CARPL.AI, Inc.'.

What is the key driver of Global Teleradiology Market?

The major factors expected to drive the global teleradiology market during the forecast period are an increase in the number of medical imaging procedures and an increase in the prevalence of chronic disorders globally. Furthermore, increased global adoption of various treatment plans for the prevention of various types of illness, which frequently use imaging procedures for the management and diagnosis of disorders, is expected to be another major driver of global market growth in the coming years.

What is the key market trend for Global Teleradiology Market?

Increasing usage of advanced and latest radiology technologies in rural areas across the globe is anticipated to augment the global market growth in the coming years. The rising adoption of teleradiology systems in rural areas due to an extensive rise in the awareness of benefits and accessibility of these advanced systems in that areas is creating lucrative growth opportunities and propelling the global demand for teleradiology services.

Which region accounted for the largest share in Global Teleradiology Market?

Globally, North America dominated the teleradiology market with a holding od significant market share in 2021 owing to the early adoption of advanced technologies, rising number of chronic and medical emergencies, and rising healthcare spending among consumers in the region. Moreover, the high concentration of key players along with the increasing numbers of product launches and several strategic alliances for the expansion of market demand and consolidate their market position are further expected to boost the growth and demand for teleradiology in the region. For instance, in December 2021, Mckesson Corporation, United States, launched its new Straus Imaging PACS, a cloud-native, and zero footprint picture archiving system.

Teleradiology Market Size, Share, Growth Analysis, By Product & Service(Teleradiology Services, Software [Picture Archiving & Communication Systems (PACS), Radiology Information Systems (RIS)], Hardware), By Imaging Technique(Computed Tomography, Magnetic Resonance Imaging (MRI)), By End User(Hospitals And Clinics, Diagnostic Imaging Centers and Laboratories, Long-term Care Centers, Nursing Homes), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35A2511 | Region: Global | Published Date: September, 2024
Pages: 157 | Tables: 91 | Figures: 77

Teleradiology Market News

A new service to streamline teleradiology service management was launched in February 2024. Yellowcross Healthcare Commerce works with different healthcare establishments to understand and meet their teleradiology needs through its newly launched service.
A new AI-powered platform called PRODIGI was launched for radiologists back in 2022. The new offering was launched by 5C Network and it enables the scaling of teleradiology services offered by the company on a cloud-based platform.
Hexarad, a leading provider of radiology in the United Kingdom is tackling the problem of shortage of skilled radiologist through its specialist remote reporting services. The company works on a teleradiology model to provide a turnaround tome for imaging of around 24 hours. The company recently raised USD 14 million in August 2024 to finance its business efforts.

Teleradiology Market Report Snapshots

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Global Teleradiology Market size was valued at USD 8.30 billion in 2022 and is poised to grow from USD 9.58 billion in 2023 to USD 30.13 billion by 2031, growing at a CAGR of 15.40% during the forecast period (2024-2031).

Providing teleradiology services in developing countries will be a major trend for all market players in the long run. Bridging the gap of shortage of radiologists will also be a key opportunity for teleradiology companies to explore. Teleradiology providers can also take advantage of supportive government initiatives and awareness programs to promote the demand for teleradiology around the world. 'GE Healthcare (US) ', 'Medica Group PLC. (UK) ', 'Cerner Corporation (US) ', 'McKesson Corporation (US) ', 'Agfa Healthcare (Belgium) ', 'Siemens Healthineers (Germany) ', 'Fujifilm Holdings Corporation (Japan) ', '4Ways Healthcare (UK) ', 'Teleradiology Solutions (India) ', 'ONRAD (US) ', 'RamSoft, Inc. (Canada) ', 'Novarad Corporation (US) ', 'TeleDiagnostic Solutions Pvt. Ltd. (India) ', 'StatRad LLC (US) ', 'Medweb LLC (US) ', 'Nautilus Medical (US) ', 'Mirada Medical (UK) ', 'Telerad Tech (India) ', 'USARAD Holdings, Inc. (US) ', 'Koninklijke Philips N.V. (Netherlands) ', 'InHealth Group Ltd. (UK)'

As demand for diagnostic imaging increases around the world, there is a lack of adequate amount of skilled radiologists. Teleradiology can help address this issue by providing remote diagnostics and access to skilled radiologists without having to go through the arduous process of finding skilled radiologists thereby driving market development.

Integration of Artificial Intelligence: Teleradiology companies can focus on integration of artificial intelligence with their offerings to promote automation and also improve the efficacy of the service. Use of artificial intelligence will also help in managing the increasing number of diagnostic imaging procedures being performed around the world.

North America is forecasted to account for a dominant share of the global teleradiology market. Rapidly increasing demand for better diagnostic imaging, presence of a developed healthcare infrastructure, and presence of key teleradiology providers are helping this region maintain a dominant market share. The United States is slated to spearhead the demand for teleradiology in the North American region owing to surge in prevalence of chronic diseases. Rising use of telehealth and remote care practices in this region are also projected to bolster market growth potential over the coming years.

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What is the global market size of Teleradiology Market?

Who are the key vendors in the Teleradiology Market?

What is the key driver of Teleradiology Market?

What is the key market trend for Teleradiology Market?

Which region accounted for the largest share in Teleradiology Market?

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