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Global Teleradiology Market to Reach US$3.8 bn by 2019 owing to Technological Advancements

Posted on Mar 21, 2016

Transparency Market Research has published a new report on the global teleradiology market. As per the report, the global teleradiology market is predicted to expand at a 22.30% CAGR during the period between 2013 and 2019. The report, titled ‘Teleradiology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019,’ states that the global teleradiology market stood at US$0.9 bn in 2012 and is expected to reach US$3.8 bn by 2019 owing to factors such as technological advancements and the introduction of mhealth services.

Browse the full Teleradiology Market (X-ray, Ultrasound, CT, MRI and Nuclear Imaging) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2013 - 2019 report at http://www.transparencymarketresearch.com/teleradiology-technology-Market.html

Teleradiology consists of the electronic transmission of radiological images from a particular location to another in a digital format using the internet. Image transfer is primarily carried out from the sender’s end to a secondary location for either consultation or an official diagnosis. Consistent developments and advancements in digital imaging technology have favored the acceptance of teleradiology technologies. The increasing acceptance of social media platforms and the internet in general is further expected to augment the use of teleradiology practices across the globe.

Continuous upgradation of radiology information systems (RIS) and picture archiving and communication systems (PACS) is expected to enhance the teleradiology process. The global teleradiology market is segmented on the basis of geography and modality. Based on modality, the global teleradiology market is classified into x-ray, ultrasound, computed tomography (CT), nuclear imaging, and magnetic resonance imaging (MRI). The x-ray teleradiology segment is expected to register new growth opportunities due to increased awareness, low costs compared to other modalities, and increasing digitalization.

Ultrasound imaging technology, popularly used in diagnosing women’s ailments, is majorly employed to track and visualize development stages of a fetus at the time of pregnancy. Compared with x-rays, ultrasound imaging technology is more beneficial due to its minimally invasive nature. The acceptance of MRI imaging technology is still at a nascent stage due to the high costs of the equipment and lack of technical expertise.

Based on geography, the global teleradiology market is divided into Europe, Asia Pacific, North America, and Rest of the World. In 2012, the global teleradiology market was led by North America, which held a revenue share of more than 33%. The presence of well-equipped healthcare institutions and hospitals and the increasing use of high-bandwidth internet are predicted to propel the North America teleradiology market in the years to come.

The Asia Pacific teleradiology market is expected to register considerable growth in the coming few years due to ongoing developments in healthcare informatics and medical imaging platforms. However, lack of image data security is expected to hamper the growth of the global teleradiology market through the forecast period.

Agfa-Gevaert N.V., American TeleCare, Inc., Cybernet Systems Corporation, ONRAD, Inc., Radisphere National Radiology Group, Inc., Sectra AB, StatRad, Teleradiology Solutions, and Virtual Radiologic (vRad) are some of the leading companies in the global teleradiology market. The entry of new companies is expected to make the global teleradiology market highly competitive in the coming years.

Key Segments of Global Teleradiology Market

Teleradiology Market, by Modalities

  • X-Ray
  • Ultrasound
  • Computed Tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Nuclear Imaging

Teleradiology Market, by Geography

  • North America
  • Europe
  • Asia-Pacific
  • Rest of the World (RoW)

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