Global Teleradiology Market Report by Imaging Techniques (X-Ray, Computed Tomography (CT) Scan, Magnetic Resonance Imaging (MRI), Ultrasound, Nuclear Medicine, Others) Technology (Hardware, Software, Services) End Users (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, Others) Countries and Company Analysis, 2024-2032

Rising use of sophisticated imaging techniques and a dearth of radiologists with the necessary training:

It is anticipated that as imaging processes increase, there will be a greater need for dependable and effective advanced teleradiology systems. As per a July 2020 article released by University College London, the National Health Service (NHS) does around 5 million CT scans annually, while the United States performs over 80 million CT scans annually. Twenty-five percent of the radiation that Americans are exposed to comes from CT scanning. Advanced and sophisticated diagnostic imaging equipment demand a high level of technical skill and competence to operate, which contributes to the increased complexity of cases with insufficient resources. 

In wealthy nations like the US, UK, and Germany as well as in many rising nations like Brazil and India, the use of teleradiology solutions has greatly reduced the gap between rural and urban areas. Since they do not require travel and enable radiologists to operate remotely, these technologies are more economical and convenient. The need for teleradiology services has grown even more due to a shortage of licensed radiologists.

Growing Number of Imaging Procedures in Medicine to Meet Demand:

The significant rise in medical imaging methods for the diagnosis, treatment, and management of acute and chronic disorders is one of the key factors propelling the global market. According to a September 2019 study that was published in the Journal of the American Medical Association, medical imaging procedure rates significantly increased in the US and certain regions of Canada, even in the face of a widespread push by the medical community to decrease these procedures. Growth in medical imaging procedures is one of the key reasons that is anticipated to propel the teleradiology industry.

Additionally, more treatment programs that emphasize major illness prevention are being adopted, which frequently employs a variety of imaging techniques to diagnose and treat illnesses. introduction of this technology, which is more affordable than hiring a radiologist on-site and frequently operates on a fee-per-procedure basis. Over the course of the projected period, such as such are expected to propel the growth of the global market.

The need for imaging procedures, which are crucial for diagnosis, has increased due to the rising incidence of cancer. Numerous imaging techniques, including magnetic resonance imaging (MRI), computed tomography (CT) scans, and X-rays, are utilized to diagnose a variety of oncological conditions. Therefore, this technology is a vital tool for the accurate diagnosis of the growing number of cancer patients who live in rural and semi-rural areas. For example, lung cancer is frequently diagnosed, treated, and staged using chest X-rays. The American Cancer Society (ACS) projects that there will be roughly 228,820 newly diagnosed cases of lung cancer in the United States year 2020. This is anticipated to fuel demand for the technology, which is essential for the detection and treatment of numerous cancer kinds, as well as propel the size of the teleradiology market throughout the projected year.

North America Teleradiology Market

The geographic study of the teleradiology market reveals that North America commands a sizeable portion of the worldwide market due to elements including the growing incidence of chronic illnesses, a sophisticated healthcare system, and a variety of tactics used by well-known local competitors. For example, according to data published by the CDC in December 2022, 6 out of 10 adults in the US today suffer from a chronic illness. Moreover, two or more chronic disorders affect 40% of individuals. As a result, it is anticipated that the region's high percentage of people with chronic illnesses will increase demand for teleradiology equipment, including X-rays, CT, ultrasound, MRIs, and nuclear imaging, among other things.

Additionally, it is anticipated that throughout the projection period, market expansion will be aided by the growing investments made in a variety of health sectors by government entities operating in the region. For example, according to National Institutes of Health (NIH) data updated in March 2023, US healthcare spending on biomedical imaging increased from USD 2,774 million to USD 3,101 million in the previous year. Therefore, it is predicted that rising healthcare spending in the nation will spur new teleradiology technologies in the area, spurring market expansion. Additionally, throughout the projected period, the growing number of product releases by the leading players in the region is expected to propel market growth. For example, United Imaging Healthcare introduced a whole-body ultra-high field 5.0T MRI in March 2023.

In light of the aforementioned variables, it is anticipated that the teleradiology market in North America would expand rapidly during the course of the projected year.

Global Teleradiology Company Analysis:

Some leading Teleradiology companies are FUJIFILM Corporation, Koninklijke Philips, General Electric Company, Oracle Corporation, Siemens AG, GE HEALTHCARE, McKesson.

Global Teleradiology Company News:

March 2024: Premier Radiology Services has signed a five-year agreement to use RamSoft's OmegaAI and cloud-based PowerServer PACS platform throughout its network of more than 1,000 teleradiology locations. RamSoft is a provider of cloud-based RIS/PACS radiology solutions for imaging centers and teleradiology providers.

June 2023: A private equity group called Grovecourt Capital Partners announced that it has acquired Premier Radiology Services, a nationwide teleradiology provider with its headquarters located in Miami, Florida.

May 2023: IMEXHS and deepc declared the opening of "IMEX AI," their new solution offering. Driven by deepc. By combining their expertise, IMEXHS and deepc have formed a collaboration that offers a one-stop shop for all medical imaging needs. Healthcare providers will have access to state-of-the-art technology that is scalable, adaptable, accessible, and can deliver seamless interoperability while protecting data integrity with the help of IMEXHS's cloud-based enterprise imaging platform and deepc's sophisticated platform and AI solutions.

April 2023: Using state-of-the-art technology, Aster DM Healthcare inaugurated its Telecommand Center and Digital Health facility in India. This facility offers complete telehealth services, including teleradiology, under one roof.

Key Questions Answered in This Report:

Question:    How big is the Teleradiology market?

Answer:     The global Teleradiology market size was estimated to reach USD 21,938.1 million in 2032 while it was estimated to reach US$ 7,712.1 million by 2023.

Question:    What is the Teleradiology market growth rate?

Answer:     The global Teleradiology market is expected to grow at a compound annual growth rate of 12.32% from 2024 to 2032.

Question:    Who are the key players in Teleradiology market?

Answer:     Some key players operating in the Teleradiology market includes FUJIFILM Corporation, Koninklijke Philips, General Electric Company, Oracle Corporation, etc.

Question:    What are the factors driving the Teleradiology market?

Answer:     Key factors that are driving the Teleradiology includes rising use of sophisticated imaging techniques and a dearth of radiologists with the necessary training, Growing Number of Imaging Procedures in Medicine to Meet Demand, etc.

Question:    Which Region held the largest market share in the Teleradiology market?

Answer:     “North America” had the largest share in the Teleradiology Market.

Imaging Techniques – Market Breakup in 6 Viewpoints:

1. X-Ray
2. Computed Tomography (CT) Scan
3. Magnetic Resonance Imaging (MRI)
4. Ultrasound
5. Nuclear Medicine
6. Others

Technology – Market Breakup in 3 Viewpoints:

1. Hardware
2. Software
3. Services

End Users – Market Breakup in 4 Viewpoints:

1. Hospitals
2. Ambulatory Surgical Centers
3. Diagnostic Centers
4. Others

Geography – Market Breakup of 18 countries

North America

1. United States
2. Canada
3. Mexico
4. Brazil

Europe

1. United Kingdom
2. Germany
3. France
4. Italy
5. Spain
6. Netherlands

Asia Pacific

1. China
2. Japan
3. India
4. South Korea
5. Australia

Middle East & Africa

1. South Africa
2. United Arab Emirates

Rest of the World

Company Insights:

• Overview
• Recent Development
• Product Portfolio
• Financial Insight

Key Players Analysis:

1. FUJIFILM Corporation
2. Koninklijke Philips
3. General Electric Company
4. Oracle Corporation
5. Siemens AG
6. GE HEALTHCARE
7. McKesson

Report Details: