- The scarcity of radiologists and increasing government
initiatives regarding the adoption of teleradiology services are
driving the demand for the market
- Market Size – USD 5.92 billion
in 2019, Market Growth - CAGR of 23.7%, Market Trends – Growing
utilization of advanced technologies
VANCOUVER, B.C., Sept. 22, 2020 /PRNewswire/ -- The Global
Teleradiology Services Market is expected to reach
USD 32.34 Billion by 2027, according
to a new report by Emergen Research. The growth of this market can
be attributed to favorable government initiatives regarding the
adoption of teleradiology in order to provide early disease
diagnosis. Besides, the application of modern-day technologies such
as the adoption of cloud-based technologies, blockchain, and
cryptocurrencies will lead to better efficiency and cost-effective
solutions. Increasing Investments for the development of advanced
solutions is augmenting the demand for the industry.
The pandemic has disrupted the supply chain and raw material
supplies, but it has increased the demand for the product in the
healthcare industry. Due to the pandemic, healthcare workers are
under tremendous pressure, so they are seeking the help of the
teleradiology services in order to analyze reports and diagnose the
patients. Besides, the technology also helps to increase the
efficiency of the imaging devices and reduces manual errors. The
pandemic has led to the increased usage of telehealth and
teleradiology. The issues of internet bandwidth in rural areas and
less awareness among rural people regarding the authenticity of
teleradiology services might hinder the market growth.
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Key Highlights From The Report
- The hospitals & clinics segment dominated the market with a
share of 54.6% in 2019 due to the growing adoption of teleradiology
services by hospitals & clinics. Due to the pandemic, there is
a shortage of radiologists, which has led to the increasing
adoption of diagnostic imaging procedures in order to maintain
workflow and increase efficiency.
- The software segment is expected to experience the highest CAGR
over the forecast period due to the growing demand for healthcare
software to increase data transparency and improve patient
outcomes.
- North America has the highest
adoption rate in the market over the forecast period due to the
presence of a technologically advanced healthcare structure.
- Asia Pacific is expected to
register the highest CAGR over the forecast period due to the
increasing initiatives of the government to modernize the
healthcare infrastructure and growing investments in R&D for
the production of advanced solutions.
- Key participants include Philips Healthcare, Teleradiology
Solutions, USRAD Holdings, Inc., Everlight Radiology, MEDNAX, Inc.,
ONRAD, Inc., AGFA Healthcare, RAMSOFT, Inc., Telediagnostic
Solutions PVT. LTD., and CARESTREAM HEALTH, Inc., among
others.
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Emergen Research has segmented the Global Teleradiology Services
Market on the basis of imaging technique, end-users, products and
services, and region:
Imaging Technique Outlook (Revenue, USD Billion;
2017-2027)
- Magnetic resonance imaging (MRI)
- Computed tomography (CT)
- X-Rays
- Ultrasound
- Mammography
- Others
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Diagnostic Centers
- Hospitals & Clinics
- Others
Products and Services Outlook (Revenue, USD Billion;
2017-2027)
- Software
- Hardware
- Teleradiology services
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
-
- Europe
-
- Germany
- U.K.
- France
- Benelux
- Rest of Europe
- Asia Pacific
-
- China
- Japan
- South Korea
- Rest of APAC
- Latin America
-
- Middle East & Africa
-
- Saudi Arabia
- UAE
- Rest of MEA
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