Teleradiology Market Size, Share Global Analysis Report, 2021 - 2026

Industry Insights

[216+ Pages Report] Facts & Factors published “Teleradiology Market” report encompasses the spectacle of the market in an analytical and comprehensive manner. The global Teleradiology Market is estimated to value USD 23.6 Billion in the year 2026 from an initial value of USD 7.9 Billion in the year 2020 at a CAGR value of 18.9%.

Market Overview

Teleradiology is the process of transmission of radiological patient images such as X-rays, CTs, and MRIs from one location to another for the sole purpose of sharing studies with other radiologists and physicians. The sector of teleradiology features the imaging procedures that allow for radiologists to diagnose the issue pertaining to a patient without actually having to be present at the location of the latter. Teleradiology utilizes communication measures such as the Internet, telephones lines, wide area networks, and local area networks, to name a few.

Industry Growth Factors

The primary driving factors for the global teleradiology market can be attributed to rising cases pertaining to the ongoing pandemic coupled with the increasing geriatric population to name a few. Additionally, increasing adoption of cloud-based solutions coupled with rising reimbursement measures by insurance providers is expected to increase the footprint of the global teleradiology market during the forecast period. Moreover, the rising prevalence of associated diseases coupled with an increasing number of radiology experts will open new revenue opportunities for the global teleradiology market during the forecast period.

The global teleradiology market is expected to be driven by factors pertaining to technology that bridge the gap between eliminating the location factor for diagnostic and consulting purposes to name a few. The rising number of CT scans, rising demand for radiology services from emerging economies, rising number of chronic diseases such as congestive heart failure and orthopedic surgeries will boost the growth of the global teleradiology market during the forecast period. However, rising regulatory burdens by various government agencies across the world coupled with increasing technical complexities are expected to hamper the growth of the global teleradiology market during the forecast period.

Segmentation Analysis

The global teleradiology market is segmented into product, end-user, and regions.

The global teleradiology market is divided into X-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), and nuclear imaging on the basis of product. The segment pertaining to x-ray is expected to witness the largest market share during the advent of the forecast owing to factors pertaining to economical pricing, primary usage for diagnostics purposes, and integration of novel technologies such as filmless X-ray systems to name a few. Additionally, the segment is expected to dominate the global overview owing to usage across numerous healthcare applications such as orthopedics, cardiovascular diagnostics, chest imaging, cancer screening, and dental imaging, to name a few. The global teleradiology market can be broken down into hospitals, ambulatory regulatory clinics, and radiology clinics on the basis of end-user. The hospital's segment is expected to witness the largest market share during the advent of the forecast owing to the latter using teleradiology services at a larger scale when compared to its counterparts, rising number of hospital visits and better equipment and infrastructure to perform efficient teleradiology services to name a few.

Report Scope

Regional Analysis

North America is expected to witness the largest market share during the advent of the forecast owing to the growing target population coupled with the increasing prevalence of chronic diseases to name a few. Additionally, an increasing number of key market participants in the region coupled with developed healthcare infrastructure is expected to increase the footprint of the teleradiology market during the forecast period. Factors pertaining to supportive government initiatives coupled with increasing demand for efficient teleradiology solutions are further expected to open new revenue opportunities for the teleradiology market during the forecast period. Europe is expected to absorb a substantial increase in market share during the forecast period owing to the rising number of awareness programs about teleradiology coupled with the rising number of global teleradiology conferences in the region to name a few.

Competitive Players

The key market participants for the global teleradiology market are:

• Philips Healthcare
• Cerner Corporation
• Siemens Healthineers
• McKesson Corporation
• FUJIFILM Corporation
• Agfa Healthcare
• MEDNAX Services Inc.
• RamSoft Inc.
• Novarad Corporation
• TeleDiagnostic Solutions
• Teleradiology Solutions Inc.
• Telerad Tech
• WebRad Technology
• USARAD Holdings Inc.

By Product Segment Analysis

• X-Ray
• Ultrasound
• Magnetic Resonance Imaging (MRI)
• Computed Tomography (CT)
• Nuclear Imaging

By End-User Segment Analysis

• Hospitals
• Ambulatory Regulatory Clinics
• Radiology Clinics