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)
4ways Healthcare Ltd.
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:
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
By End Use:
Ambulatory Imaging Center
Middle East & Africa
Rest of Middle East & Africa