Teleradiology Market Size, Share, Top Key Players Growth, Forecast...

Teleradiology Market Size, Share, Top Key Players Growth, Forecast 2023-2028

Posted 2023-12-20 07:03:01

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.” The global teleradiology market size reached US$ 5.0 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 11.50 Billion by 2028, exhibiting a growth rate (CAGR) of 15.30% during 2023-2028.

Industry Overview of Teleradiology

Teleradiology is the practice of transmitting radiological images from one location to another via electronic communication systems for the purpose of interpretation, consultation, and diagnosis. It comprises nighthawk teleradiology, which involves outsourcing radiological services to different time zones, ensuring comprehensive coverage, and reducing the risk of understaffing during night shifts. It also consists of daytime teleradiology, which focuses on providing interpretation services during regular working hours, extending the reach of radiologists. It ensures rapid access to expert opinions, leading to earlier diagnoses and more effective treatment plans. It overcomes geographical barriers, enabling rural and underserved areas to access high-quality radiological services. It can easily adapt to changes in patient volumes and demand, providing flexibility to healthcare institutions. It streamlines the workflow in radiology departments, leading to quicker turnaround times for reports. It facilitates knowledge sharing and collaboration among radiologists, resulting in improved standards of care.

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What are the growth prospects and trends in the teleradiology industry?

At present, the rising demand for advanced medical imaging services due to the increasing emphasis on early disease detection represents one of the crucial factors impelling the growth of the market. Besides this, the rising integration of artificial intelligence (AI) and machine learning (ML) algorithms into teleradiology systems to enable faster and more accurate diagnoses, thereby enhancing patient care and reducing healthcare costs, is contributing to the market growth.

In addition, the growing importance of telemedicine for connecting patients in remote locations with specialized radiologists, transcending geographical boundaries, is offering a favorable market outlook. Apart from this, the increasing shift towards value-based care and accountable care organizations is encouraging healthcare providers to adopt teleradiology, aiming to enhance patient outcomes and reduce costs through effective diagnostic processes and rapid reporting.

Additionally, the ongoing digitalization of medical records and images, driven by stringent regulatory mandates and the need for data interoperability, is strengthening the market growth. Moreover, the rising adoption of electronic health records (EHRs) and picture archiving and communication systems (PACS) for efficient image management, storage, and retrieval is bolstering the market growth.

What is included in market segmentation?

The report has segmented the market into the following categories:

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

Who are the key players operating in the industry?

The report covers the major market players including:

4ways Healthcare Limited
Agfa-Gevaert Group
Carestream Health
FUJIFILM Corporation
General Electric Company
Koninklijke Philips N.V.
ONRAD Inc.
Oracle Corporation
RamSoft Inc.
Siemens AG
Teleradiology Solutions
USARAD Holdings Inc.

If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.

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