Global Teleradiology Services Market to Grow at a (CAGR) of 14.8% during the Forecast Period 2022-2030

Sep-2022 | Pharmaceuticals & Healthcare

As specified in our exclusive report, the global Teleradiology Services Market is projected to reach USD 20.18 billion by 2030.

What is Teleradiology?

Teleradiology is the transmission of images such as X-rays, CT scans, and MRIs to share information with radiologists or physicians from one location to another. There are many benefits of using teleradiology services, such as lower cost, increased coverage, and timely interpretation, which, in turn, are the driving factors for this teleradiology services market.

Teleradiology is a practice where data from medical imaging studies are transmitted by radiologists to a remote location for analysis and examination. The radiologist is not required to be on-site with the patient to interpret test results, and teleradiology provides access to highly qualified specialists when they may not be available otherwise. Many medical centers use this service, and there are firms specializing in teleradiology services that have radiologists at their headquarters who are able to read imaging studies at all times, so they are available for emergencies.

What are the Impacting Factors?

The Covid-19 pandemic has had a major impact on teleradiology services. However, as the fight against Covid-19 continues, there is an increasing need for teleradiology solutions to become more common among radiologists. These services allow radiologists to interpret images and communicate electronically with physicians while working remotely.

The Asia Pacific market is expected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly due to increasing awareness about the benefits of early diagnosis, growing medical tourism market in APAC countries, increase in health care expenditure, improvement in health care systems, and modernization of health care infrastructure, inspired by the increasing initiatives of the government.

Development of Teleradiology Services Market:

In May 2021, Teleradiology Solutions announced the launch of a community initiative 'COVID Support'. Through this initiative, Teleradiology Solutions will provide free tele-reporting of chest CT scans in Covid-positive patients.

In August 2021, GE Healthcare (US) launched a cloud-based Edison True PACS that offers innovative and AI-enabled decision-making tools that help reduce errors, speed up readings, enable confident diagnosis, and improve diagnostic accuracy.

Some of the key players in the Teleradiology services market are:

4ways Healthcare Limited, Africa Telerad Limited, Euro American Teleradiology, Medica Group plc, Mednax Services, Inc, Onrad, Inc., Real Radiology, LLC, Specialty Teleradiology, Inc., StatRad (NucleusHealth), TeleConsult Europe (TCE), Telemedicine Clinic (UNILABS), Teleradiology Solutions, Usarad Holdings, Inc.

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