Published: Sep-2022|  Format: PDF | MBI Research |  Number of pages: 136 | Code: MBI-3927736

Teleradiology Services Market Size, Share, Growth & Demand Analysis Report By Type (Teleradiology Services, Software) By End-User (Clinics, Diagnostic Imaging Centers, Hospitals, Ambulatory Surgical Centres, Radiology Centres) Forecast Report 2022-2030

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Market Overview:

The Global Teleradiology Services Market size was valued at USD 6.9 billion in 2021 and is projected to register a valuation of USD 20.18 billion by 2030, at a Compound Annual Growth Rate (CAGR) of 14.8% over the forecast period 2022-2030. Increasing prevalence of osteoarthritis and chronic diseases development of IT infrastructure, number of imaging procedures, and growth in healthcare expenditure are the main factor driving the growth of the market

Market Introduction:

Teleradiology is a practice where data from medical imaging studies are transmitted by radiologists to a remote location for analysis and examination. Teleradiology is the transmission of radiological patient images from one place to another, such as X-rays, CT, and MRI, for the purpose of sharing studies with other radiologists and physicians. 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 otherwise be available. Teleradiology is a growing technology, given that imaging procedures are increasing by about 15% annually, compared to only a 2% increase in the radiologist population.

Covid-19 Impact Analysis by Market Business Insights:

The outbreak of COVID-19 and the subsequent extent of lockdown have impacted the teleradiology services market across the globe. As the Covid-19 crisis continues, many global industrial manufacturing companies are facing challenging times including production shutdowns, transportation, supply chain disruptions, cost increases, and workforce disruptions, which negatively affect the teleradiology services industry in terms of revenue.

Due to this global pandemic, medical practices of all sizes are under immense pressure, and healthcare providers need to depend on teleradiology solutions to treat patients and read clinical reports. In an emergency setting, teleradiology ensures that when a scan is performed, it can be reported quickly and treatment decisions are made in real-time. However, the disproportionate number of radiologists in some of the region's metro cities and even worse numbers in tier-II cities are emerging as an impediment to the growth of the market during the ongoing pandemic.

What are the Global Teleradiology Services Market Drivers?

One of the significant market drivers of the global market is the substantial growth in medical imaging procedures for the diagnosis, treatment, and management of chronic and acute diseases. The growing prevalence of chronic diseases such as cancer is increasing the rate of diagnostic imaging procedures. Hence, the rising number of imaging procedures may drive demand for reliable and efficient teleradiology solutions, resulting in superior market growth.

This is anticipated to increase the demand for this technology which is critical for the diagnosis and management of several types of cancer and is expected to fuel the growth of this market size during the forecast period. Additionally, increasing awareness of teleradiology among developed economies is expected to boost the growth of the teleradiology services market in the forecast period.

Who are the Major Companies in the Global Teleradiology Services Market?

  • 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.

Global Teleradiology Services Market Segmentation:

The Global teleradiology services market is segmented by orbit type, application, end-user, and region. By type Teleradiology Services, Software. By end-user Clinics, Diagnostic Imaging Centers, Hospitals, Ambulatory Surgical Centres, and Radiology Centres. By region Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

Type Analysis:

The global teleradiology services segment is expected to witness substantial growth during the forecast period.

  • Teleradiology Services
  • Software

End-Users Analysis:

In terms of end-user, the Hospitals and Clinics segment is expected to register the fastest growth during the forecast period, the major reason for the dominance is that much imaging equipment is located in these facilities and the number of hospitals and clinics exceeds that of other medical facilities.

  • Clinics
  • Diagnostic Imaging Centers
  • Hospitals
  • Ambulatory Surgical Centres
  • Radiology Centres

Regional Analysis by Market Business Insights:

The global teleradiology services market is categorized into regions such as Latin America, North America, Europe, Asia-pacific, the Middle East, and Africa.

North America will witness rapid growth in the market.

North American and Europe markets account for the major share in the global market owing to high adoption among end users and are expected to remain dominant in the global market. In terms of revenue, North America is the leading contributor to the global market and contributed 39.20% in terms of revenue to the global market in 2020. However, Europe and Asia-Pacific are projected to grow at a significant CAGR of between 12% and 14% respectively in the coming years.

Report Coverage:

Market Segmentation:

By Type

  • Teleradiology Services
  • Software

By End-users

  • Clinics
  • Diagnostic Imaging Centers
  • Hospitals
  • Ambulatory Surgical Centres
  • Radiology Centres

By Region

North America

  • The US
  • Canada
  • Mexico

Europe

  • Germany
  • The UK
  • France
  • Italy
  • Spain
  • Rest of Europe

Asia-Pacific

  • China
  • Japan
  • India
  • South Korea
  • South East Asia
  • Rest of Asia Pacific

Latin America

  • Brazil
  • Argentina
  • Rest of Latin America

Middle East & Africa

  • GCC Countries
  • South Africa
  • Rest of Middle East and Africa



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