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Global Teleradiology Market to reach USD 6.44 billion by the end of 2030.

Global Teleradiology Market Size study & Forecast, by Product (X-ray, Ultrasound, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Nuclear Imaging) by Report (Preliminary reports, Final reports), by End Use (Hospitals, Ambulatory Imaging Center, Radiology Clinics) and Regional Analysis, 2023-2030

Product Code: HLSMDE-71025576
Publish Date: 30-10-2023
Page: 200

Global Teleradiology Market is valued at approximately USD 2.44 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 12.9% over the forecast period 2023-2030. Teleradiology is a branch of telemedicine that involves the transmission of radiological images, such as X-rays, CT scans, and MRIs, from one location to another for the purpose of interpretation and consultation. It allows radiologists or other qualified healthcare professionals to remotely access and review medical images, provide diagnoses, and offer expert opinions to healthcare providers or referring physicians who may be in different places. The Teleradiology market is expanding because of factors such as rising prevelance of osteoarthritis and chronic diseases and rising number of imaging procedures.

Rising prevelance of osteoarthritis and chronic diseases across the globe is driving the market. growth. Osteoarthritis and various chronic diseases often require diagnostic imaging, such as X-rays, CT scans, and MRIs, to assess the extent of the condition, monitor progression, and guide treatment decisions. The growing prevalence of these diseases leads to an increased demand for imaging services, which can be supported by teleradiology to meet the diagnostic needs efficiently. According to Centers for Disease Control and Prevention, in year 2020, there were around 63 million people in US diagnosed with arthritis which is expected to reach at 78 million by year 2045. Furthermore, the International Agency for Research on Cancer (IARC), The estimated increase in the worldwide burden of cancer is to 27.5 million new cases by 2040 from 1.9 million new cases in year 2021. Thus rising prevelance of chronic disease is favouring the market growth. In addition, development of advanced technology in integration of artificial intelligence into teleradiology and rise in healthcare expenditure is creating a lucrative opportunity to the market growth. However, lack of skilled professionals, security concerns associated with teleradiology stifles market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Teleradiology Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the dominance of key market players, rising prevelance of chronic diseases, and rising technological advancement and investment activities in the industry. Whereas Asia Pacific is expected to registered a significant growth owing to factors such as rising prevelance of chronic and target diseases, rising healthcare expenditure, rising adoption of information technology in the medical industry and rising government support to the industry in the region.

Major market player included in this report are:
Virtual Radiologic (vRad)
Agfa-Gevaert Group
Everlight Radiology
4ways Healthcare Ltd.
RamSoft, Inc.
USARAD Holdings, Inc.
Koninklijke Philips N.V.
Matrix (Teleradiology Division of Radiology Partners)
Medica Group PLC

Recent Developments in the Market:
Ø In April 2022, Teleradiology Solutions (TRS) stated that it had signed a contract with Andhra Med Tech Zone (AMTZ) to establish a hub in the area for the provision of remote radiology image reads targeted at the public and government sectors by qualified radiologists assisted by cutting-edge artificial intelligence solutions.
Ø In November 2021, Agfa Healthcare unveiled a real remote diagnostic imaging workflow. This allows radiologists to access images as well as produce, interpret, work together on, and make high-quality choices involving them, wherever they may be.

Global Teleradiology Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Report, End Use, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
Nuclear Imaging

By Reports:
Preliminary reports
Final reports

By End Use:
Ambulatory Imaging Center
Radiology Clinics

By Region:

North America


Asia Pacific
South Korea

Latin America

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Teleradiology Market, by Region, 2020-2030 (USD Billion)
1.2.2. Teleradiology Market, by Product, 2020-2030 (USD Billion)
1.2.3. Teleradiology Market, by Report, 2020-2030 (USD Billion)
1.2.4. Teleradiology Market, by End Use, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Teleradiology Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Teleradiology Market Dynamics
3.1. Teleradiology Market Impact Analysis (2020-2030)
3.1.1. Market Drivers Rising prevelance of osteoarthritis and chronic diseases Rising number of imaging procedures
3.1.2. Market Challenges Lack of skilled professionals Security concerns associated with teleradiology
3.1.3. Market Opportunities Development of advanced technology in integration of artificial intelligence into teleradiology Rise in healthcare expenditure
Chapter 4. Global Teleradiology Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economical
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Teleradiology Market, by Product
5.1. Market Snapshot
5.2. Global Teleradiology Market by Product, Performance – Potential Analysis
5.3. Global Teleradiology Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Teleradiology Market, Sub Segment Analysis
5.4.1. X-ray
5.4.2. Ultrasound
5.4.3. Magnetic Resonance Imaging (MRI)
5.4.4. Computed Tomography (CT)
5.4.5. Nuclear Imaging
Chapter 6. Global Teleradiology Market, by Report
6.1. Market Snapshot
6.2. Global Teleradiology Market by Report, Performance – Potential Analysis
6.3. Global Teleradiology Market Estimates & Forecasts by Report 2020-2030 (USD Billion)
6.4. Teleradiology Market, Sub Segment Analysis
6.4.1. Preliminary reports
6.4.2. Final reports
Chapter 7. Global Teleradiology Market, by End Use
7.1. Market Snapshot
7.2. Global Teleradiology Market by End Use, Performance – Potential Analysis
7.3. Global Teleradiology Market Estimates & Forecasts by End Use 2020-2030 (USD Billion)
7.4. Teleradiology Market, Sub Segment Analysis
7.4.1. Hospitals
7.4.2. Ambulatory Imaging Center
7.4.3. Radiology Clinics
Chapter 8. Global Teleradiology Market, Regional Analysis
8.1. Top Leading Countries
8.2. Top Emerging Countries
8.3. Teleradiology Market, Regional Market Snapshot
8.4. North America Teleradiology Market
8.4.1. U.S. Teleradiology Market Product breakdown estimates & forecasts, 2020-2030 Report breakdown estimates & forecasts, 2020-2030 End Use breakdown estimates & forecasts, 2020-2030
8.4.2. Canada Teleradiology Market
8.5. Europe Teleradiology Market Snapshot
8.5.1. U.K. Teleradiology Market
8.5.2. Germany Teleradiology Market
8.5.3. France Teleradiology Market
8.5.4. Spain Teleradiology Market
8.5.5. Italy Teleradiology Market
8.5.6. Rest of Europe Teleradiology Market
8.6. Asia-Pacific Teleradiology Market Snapshot
8.6.1. China Teleradiology Market
8.6.2. India Teleradiology Market
8.6.3. Japan Teleradiology Market
8.6.4. Australia Teleradiology Market
8.6.5. South Korea Teleradiology Market
8.6.6. Rest of Asia Pacific Teleradiology Market
8.7. Latin America Teleradiology Market Snapshot
8.7.1. Brazil Teleradiology Market
8.7.2. Mexico Teleradiology Market
8.8. Middle East & Africa Teleradiology Market
8.8.1. Saudi Arabia Teleradiology Market
8.8.2. South Africa Teleradiology Market
8.8.3. Rest of Middle East & Africa Teleradiology Market

Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. Company 1
9.1.2. Company 2
9.1.3. Company 3
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. Virtual Radiologic (vRad) Key Information Overview Financial (Subject to Data Availability) Product Summary Recent Developments
9.3.2. Agfa-Gevaert Group
9.3.3. ONRAD, Inc.
9.3.4. Everlight Radiology
9.3.5. 4ways Healthcare Ltd.
9.3.6. RamSoft, Inc.
9.3.7. USARAD Holdings, Inc.
9.3.8. Koninklijke Philips N.V.
9.3.9. Matrix (Teleradiology Division of Radiology Partners)
9.3.10. Medica Group PLC
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes
10.3. Research Assumption

At Bizwit Research and Consultancy, we employ a thorough and iterative research methodology with the goal of minimizing discrepancies, ensuring the provision of highly accurate estimates and predictions over the forecast period. Our approach involves a combination of bottom-up and top-down strategies to effectively segment and estimate quantitative aspects of the market, utilizing our proprietary data & AI tools. Our Proprietary Tools allow us for the creation of customized models specific to the research objectives. This enables us to develop tailored statistical models and forecasting algorithms to estimate market trends, future growth, or consumer behavior. The customization enhances the accuracy and relevance of the research findings.
We are dedicated to clearly communicating the purpose and objectives of each research project in the final deliverables. Our process begins by identifying the specific problem or challenge our client wishes to address, and from there, we establish precise research questions that need to be answered. To gain a comprehensive understanding of the subject matter and identify the most relevant trends and best practices, we conduct an extensive review of existing literature, industry reports, case studies, and pertinent academic research.
Critical elements of methodology employed for all our studies include:
Data Collection:
To determine the appropriate methods of data collection based on the research objectives, we consider both primary and secondary sources. Primary data collection involves gathering information directly from various industry experts in core and related fields, original equipment manufacturers (OEMs), vendors, suppliers, technology developers, alliances, and organizations. These sources encompass all segments of the value chain within the specific industry. Through in-depth interviews, we engage with key industry participants, subject-matter experts, C-level executives of major market players, industry consultants, and other relevant experts. This allows us to obtain and validate critical qualitative and quantitative information while evaluating market prospects. AI and Big Data are instrumental in our primary research, providing us with powerful tools to collect, analyze, and derive insights from data efficiently. These technologies contribute to the advancement of research methodologies, enabling us to make data-driven decisions and uncover valuable findings.
In addition to primary sources, we extensively utilize secondary sources to enhance our research. These include directories, databases, journals focusing on related industries, company newsletters, and information portals such as Bloomberg, D&B Hoovers, and Factiva. These secondary sources enable us to identify and gather valuable information for our comprehensive, technical, market-oriented, and commercial study of the market. Additionally, we utilize AI algorithms to automate the collection of vast amounts of data from various sources such as surveys, social media platforms, online transactions, and web scraping. And employ Big Data technologies for storage and processing of large datasets, ensuring that no valuable information is missed during the data collection process.
Data Analysis:
Our team of experts carefully examine the gathered data using suitable statistical techniques and qualitative analysis methods. For quantitative analysis, we employ descriptive statistics, regression analysis, and other advanced statistical methods, depending on the characteristics of the data. This analysis may also incorporate the utilization of AI tools and big data analysis techniques to extract meaningful insights.
To ensure the accuracy and reliability of our findings, we extensively leverage data science techniques, which help us minimize discrepancies and uncertainties in our analysis. We employ Data Science to clean and preprocess the data, ensuring its quality and reliability. This involves handling missing data, removing outliers, standardizing variables, and transforming data into suitable formats for analysis. The application of data science techniques enhances our accuracy, efficiency, and depth of analysis, enabling us to stay competitive in dynamic market environments.
Market Size Estimation:
Our proprietary data tools play a crucial role in deriving our market estimates and forecasts. Each study involves the creation of a unique and customized model. The model incorporates the gathered information on market dynamics, technology landscape, application development, and pricing trends. AI techniques, such as machine learning and deep learning, aid us to analyze patterns within the data to identify correlations, trends, and relationships. By recognizing patterns in consumer behavior, purchasing habits, or market dynamics, our AI algorithms aid us in more precise estimations of market size. These factors are simultaneously analyzed within the model, allowing for a comprehensive assessment. To quantify their impact over the forecast period, correlation, regression, and time series analysis are employed.
To estimate and validate the market size, we employ both top-down and bottom-up approaches. The preference is given to a bottom-up approach, where key regional markets are analyzed as separate entities. This data is then integrated to obtain global estimates. This approach is crucial as it provides a deep understanding of the industry and helps minimize errors.
In our forecasting process, we consider various parameters such as economic tools, technological analysis, industry experience, and domain expertise. By taking all these factors into account, we strive to produce accurate and reliable market forecasts. When forecasting, we take into consideration several parameters, which include:
Market driving trends and favorable economic conditions
Restraints and challenges that are expected to be encountered during the forecast period.
Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
To assess the market impact of these parameters, we assign weights to each one and utilize weighted average analysis. This process allows us to quantify their influence on the market and derive an expected growth rate for the forecasted period. By considering these various factors and applying a weighted analysis approach, we strive to provide accurate and reliable market forecasts.
Insight Generation & Report Presentation:
After conducting the research, our experts analyze the findings in relation to the research objectives and the specific needs of the client. They generate valuable insights and recommendations that directly address the client’s business challenges. These insights are carefully connected to the research findings to provide a comprehensive understanding.
Next, we create a well-structured research report that effectively communicates the research findings, insights, and recommendations to the client. To enhance clarity and comprehension, we utilize visual aids such as charts, graphs, and tables. These visual elements are employed to present the data in an engaging and easily understandable format, ensuring that the information is accessible and visually appealing to the client. Our aim is to deliver a clear and concise report that conveys the research findings effectively and provides actionable recommendations to meet the client’s specific needs.

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