Market Research Reports

Teleradiology Market (X-ray, Ultrasound, CT, MRI and Nuclear Imaging) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019

103pages
Published Date: 2014-01-02
 

Description


Teleradiology refers to the electronic transmission of radiological images from one location to another in a digital format via internet technology. Image transfer is carried out from the primary acquisition site (sender’s end) to a secondary location (receiver’s end) for the purpose of either official diagnosis or consultation. Consistent developments in digital imaging technology coupled with fewer radiologists across the globe favor the growth and acceptance of teleradiology technologies and services. Also, in addition, increasing acceptance of internet technology and social media platforms will further augment the diffusion of teleradiology practices worldwide. Continuous upgradation of Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS), has enhanced the overall teleradiology process (right from image capture, storage, processing and reporting). 

This report encompasses a detailed study of various imaging modalities such as X-ray, ultrasound, Computed Tomography (CT), Magnetic Resonance Imaging (MRI) and nuclear imaging. X-ray teleradiology promises lucrative business opportunities owing to its increased awareness, increasing digitalization that aids in enhancing the teleradiology process and low costs as compared to other modalities. Ultrasound is one of the typical imaging technologies, most popular in diagnosing women’s ailments and is employed majorly to visualize and track development stages of the fetus during pregnancy. Ultrasound imaging technology is more advantageous than x-rays and MRI due to its minimal invasive nature coupled with lower exposure to radiation. Diffusion of CT scan imaging technology is increasing as it enables detailed visualization and diagnosis of abnormalities of the chest, abdomen, liver, pancreas and others. With the increasing number of healthcare institutions equipped with CT scanners, the feasibility and accessibility to radiologic interpretation is also increasing. MRI imaging technology involves high costs of equipment, and small to medium healthcare institutions cannot afford the installation and maintenance of MRI equipments. Owing to these factors, MRI teleradiology is still in its infancy stages. Similarly, the acceptance of nuclear imaging technology is still at a nascent stage due to high costs and lack of technical expertise. However, with the increasing government funding towards development of nuclear imaging technologies, there is a scope for increased acceptance of nuclear imaging teleradiology.

The report analyzes the teleradiology market by four major geographies namely North America, Europe, Asia-Pacific and Rest of the World (RoW). The market for each geography has been further studied based on various modality trends such as X-ray, ultrasound, CT, MRI and nuclear imaging. 

The global market for teleradiology has been segmented based on the above mentioned parameters. Market size estimates, and forecasts for the period 2013 to 2019 has been provided. The forecasts are provided for each of the segments in terms of USD million. The CAGR (%) of each market segment for the forecast period 2013 to 2019 has been provided along with market size estimations, considering 2012 as the base year. A detailed qualitative analysis of the market dynamics, factors driving and restraining the growth of the global teleradiology market, and future opportunities is elucidated in the market overview section. 

The global teleradiologymarket is segmented into the following categories:
  • 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)

Table of Contents


Table of Content

Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Methodology
1.4 List of Abbreviations

Chapter 2 Executive Summary
2.1 Global Teleradiology Market, by Modalities, 2012 (USD Million)

Chapter 3 Market Overview
3.1 Introduction
      3.1.1 Process of Teleradiology
      3.1.2 Market Potential of Teleradiology
      3.1.3 Future Scenario of Teleradiology Market
3.2 Introduction to Teleradiology Technologies
3.3 Introduction to Teleradiology Services
3.4 Introduction to Teleradiology Imaging Modalities
      3.4.1 X-Ray
      3.4.2 Ultrasound
      3.4.3 Computed Tomography (CT)
      3.4.4 Magnetic Resonance Imaging (MRI)
      3.4.5 Nuclear Imaging
3.5 Market dynamics
      3.5.1 Market Drivers
              3.5.1.1 Advancements in Digital Technology
              3.5.1.2 Increasing Introduction of Mhealth Services
      3.5.2 Market Restraints
              3.5.2.1 High cost of technology
              3.5.2.2 Lack of imaging data security
      3.5.3 Market Opportunity
              3.5.3.1 Investment Opportunity
3.6 Porter’s Five Force Analysis for the Global Teleradiology Market
      3.6.1 Bargaining Power of Buyers
      3.6.2 Bargaining Power of Suppliers
      3.6.3 Threat of Substitutes
      3.6.4 Threat of New Entrants
      3.6.5 Competitive Rivalry
3.7 Market Attractiveness Analysis: Global Teleradiology Market, by Geography

Chapter 4 North America Teleradiology Market, by Modalities
4.1 Overview
      4.1.1 North America Teleradiology Market, by Modalities and 2011 – 2019 (USD Million)
4.2 Modality Trends
      4.2.1 X-Ray
              4.2.1.1 North America X-Ray Teleradiology Market, 2011 – 2019 (USD Million)
      4.2.2 Ultrasound
               4.2.2.1 North America Ultrasound Teleradiology Market, 2011 – 2019 (USD Million)
      4.2.3 Computed Tomography (CT)
              4.2.3.1 North America CT Teleradiology Market, 2011 – 2019 (USD Million)
      4.2.4 Magnetic Resonance Imaging (MRI)
              4.2.4.1 North America MRI Teleradiology Market, 2011 – 2019 (USD Million)
      4.2.5 Nuclear Imaging
              4.2.5.1 North America Nuclear Imaging Teleradiology Market, 2011 – 2019 (USD   Million)

Chapter 5 Europe Teleradiology Market, by Modalities
5.1 Overview
      5.1.1 Europe Teleradiology Market, 2011 – 2019 (USD Million)
5.2 Modality Trends
      5.2.1 X-Ray
              5.2.1.1 Europe X-Ray Teleradiology Market, 2011 – 2019 (USD Million)
      5.2.2 Ultrasound
              5.2.2.1 Europe Ultrasound Teleradiology Market, 2011 – 2019 (USD Million)
      5.2.3 Computed Tomography (CT)
              5.2.3.1 Europe CT Teleradiology Market, 2011 – 2019 (USD Million)
      5.2.4 Magnetic Resonance Imaging (MRI)
              5.2.4.1 Europe MRI Teleradiology Market, 2011 – 2019 (USD Million)
      5.2.5 Nuclear Imaging
              5.2.5.1 Europe Nuclear Imaging Teleradiology Market, 2011 – 2019 (USD Million)

Chapter 6 Asia-Pacific Teleradiology Market, by Modalities
6.1 Overview
      6.1.1 Asia-Pacific Teleradiology Market, 2011 – 2019 (USD Million)
6.2 Modality Trends
      6.2.1 X-Ray
              6.2.1.1 Asia-Pacific X-Ray Teleradiology Market, 2011 – 2019 (USD Million)
      6.2.2 Ultrasound
              6.2.2.1 Asia-Pacific Ultrasound Teleradiology Market, 2011 – 2019 (USD Million)
      6.2.3 Computed Tomography (CT)
              6.2.3.1 Asia-Pacific CT Teleradiology Market, 2011 – 2019 (USD Million)
      6.2.4 Magnetic Resonance Imaging (MRI)
               6.2.4.1 Asia-Pacific MRI Teleradiology Market, 2011 – 2019 (USD Million)
      6.2.5 Nuclear Imaging
              6.2.5.1 Asia-Pacific Nuclear Imaging Teleradiology Market, 2011 – 2019 (USD Million)

Chapter 7 Rest of the World (RoW) Teleradiology Market, by Modalities
7.1 Overview
      7.1.1 Rest of the World (RoW) Teleradiology Market, 2011 – 2019 (USD Million)
7.2 Modality Trends
      7.2.1 X-Ray
              7.2.1.1 RoW X-Ray Teleradiology Market, 2011 – 2019 (USD Million)
      7.2.2 Ultrasound
              7.2.2.1 RoW Ultrasound Teleradiology Market, 2011 – 2019 (USD Million)
      7.2.3 Computed Tomography (CT)
               7.2.3.1 RoW CT Teleradiology Market, 2011 – 2019 (USD Million)
      7.2.4 Magnetic Resonance Imaging (MRI)
              7.2.4.1 RoW MRI Teleradiology Market, 2011 – 2019 (USD Million)
      7.2.5 Nuclear Imaging
              7.2.5.1 RoW Nuclear Imaging Teleradiology Market, 2011 – 2019 (USD Million)

Chapter 8 Recommendations
8.1 Adoption of New Business Models Enabling the Development of the Teleradiology Market
8.2 Investing in Emerging Economies such as India, China and Japan

Chapter 9 Company Profiles
9.1 Agfa-Gevaert N.V.
      9.1.1 Company Overview
      9.1.2 Financial Overview
      9.1.3 Product Portfolio
      9.1.4 Business Strategies
      9.1.5 Recent Developments
9.2 American TeleCare, Inc.
      9.2.1 Company Overview
      9.2.2 Financial Overview
      9.2.3 Product Portfolio
      9.2.4 Business Strategies
      9.2.5 Recent Developments
9.3 Cybernet Systems Corporation
      9.3.1 Company Overview
      9.3.2 Financial Overview
      9.3.3 Product Portfolio
9.4 ONRAD, Inc.
      9.4.1 Company Overview
      9.4.2 Financial Overview
      9.4.3 Product Portfolio
      9.4.4 Business Strategies
      9.4.5 Recent Developments
9.5 Radisphere National Radiology Group, Inc.
      9.5.1 Company Overview
      9.5.2 Financial Overview
      9.5.3 Product Portfolio
      9.5.4 Business Strategies
9.6 Sectra AB
      9.6.1 Company Overview
      9.6.2 Financial Overview
      9.6.3 Product Portfolio
      9.6.4 Business Strategies
      9.6.5 Recent Developments
9.7 StatRad
      9.7.1 Company Overview
      9.7.2 Financial Overview
      9.7.3 Product Portfolio
      9.7.4 Business Strategies
      9.7.5 Recent Developments
9.8 Teleradiology Solutions
      9.8.1 Company Overview
      9.8.2 Financial Overview
      9.8.3 Product Portfolio
      9.8.4 Business Strategies
      9.8.5 Recent Developments
9.9 Virtual Radiologic (vRad)
      9.9.1 Company Overview
      9.9.2 Financial Overview
      9.9.3 Product Portfolio
      9.9.4 Business Strategies
      9.9.5 Recent Developments

List of Figures

FIG. 1 Global Teleradiology: Market Segmentation
FIG. 2 Global Teleradiology Market, by Modalities, 2012 (USD Million)
FIG. 3 Steps Involved in Teleradiology Process: Global Teleradiology Market
FIG. 4 Introduction to Teleradiology Technologies
FIG. 5 Introduction to Teleradiology Services
FIG. 6 Porter’s Five Forces Analysis: Global Teleradiology Market
FIG. 7 Market Attractiveness Analysis: Global Teleradiology Market, by Geography
FIG. 8 North America X-Ray Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 9 North America Ultrasound Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 10 North America CT Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 11 North America MRI Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 12 North America Nuclear Imaging Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 13 Europe X-Ray Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 14 Europe Ultrasound Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 15 Europe CT Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 16 Europe MRI Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 17 Europe Nuclear Imaging Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 18 Asia-Pacific X-Ray Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 19 Asia-Pacific Ultrasound Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 20 Asia-pacific CT Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 21 Asia-Pacific MRI Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 22 Asia-Pacific Nuclear Imaging Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 23 RoW X-Ray Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 24 RoW Ultrasound Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 25 RoW CT Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 26 Row MRI Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 27 RoW Nuclear Imaging Teleradiology Market, Size and Forecast, 2011 - 2019 (USD Million)
FIG. 28 Agfa-Gevaert N.V., Annual Sales: 2010 – 2012 (USD Million)                        Conversion Rate: 1 Euro = 1.35 USD
FIG. 29 Sectra AB, Annual Sales:  2010 – 2012 (USD Million)

List of Tables

TABLE 1 List of Abbreviations
TABLE 2 Market Snapshot: Global Teleradiology Market (2012 & 2019)
TABLE 3 Global Teleradiology Market by Modalities, Size and Forecast, 2011-2019 (USD Million)
TABLE 4 Impact Analysis of Market Drivers
TABLE 5 Impact Analysis of Market Restraints
TABLE 6 North America Teleradiology Market, By Modalities, Size and Forecast, 2011- 2019 (USD Million)
TABLE 7 Europe Teleradiology Market, By Modalities, Size and Forecast, 2011-2019 (USD Million)
TABLE 8 Asia-Pacific Teleradiology Market, By Modalities, Size and Forecast, 2011-2019 (USD Million)
TABLE 9 RoW Teleradiology Market, By Modalities, Size and Forecast, 2011-2019 (USD Million)

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Free Market Analysis


Teleradiology involves the electronic transmission of the radiologic images from the sender’s workstation to receiver’s workstation via internet technology. Teleradiology is one of the highest revenue generators of telehealth technologies, for instance it accounts for about 70% revenue of the total telehealth services. Teleradiology being one of the mature segment of telehealth industryfocuses on delivery of healthcare services with the help of advanced information and communication tools in order to exchange the information for effective diagnosis and treatment.In the past, this process involved analog images that needed to be converted to digital binary code and then forwarded to the receiving station. 

The conventional process of conversion of analog images to digital images consumed huge amounts of space and unarguably was a tedious task without any assurance for image quality and accuracy of the data. However, with the evolution of Picture Archiving and Communication Systems (PACS) and Radiology Information Systems (RIS), there has been a significant rise in need and demand of teleradiology technologies and services.Also, increased implementation and usage pattern of high bandwidth internet technology along with improved healthcare awareness worldwide further propelled the growth and acceptance of teleradiology practices.In addition, increasing mobile health (mHealth) applications for teleradiology enables radiologists to increase their speed of consultation and interpretation while commuting thereby, eliminating possibility of moving to physical workstation.All these factors collectively enhance the scope for growth and development of teleradiology technologies and services.

Evolution of several medical imaging platforms such as Magnetic Resonance Imaging (MRI), Computed Tomography (CT) and others directly influence the digitization of teleradiology services. For instance, filmless digital x-ray and hi-tech MRI equipment enables effective transmission of radiologic images with less complications. The cost of teleradiology services depends on modality of study coupled with report turnaround time. Also, the cost of the services increases along with increasing complexity of the images. For instance, x-ray teleradiology costs around USD 8 to USD 12 whereas MRI teleradiology incurs around USD 40 to USD 50, as MRI images are more complex and require high turnaround times. The introduction of avant-garde imaging platforms along with enhanced healthcare informatics, lead to overall development and acceptance of teleradiology practices worldwide.However, an imbalance between the rates of utilization of imaging platforms followed by supply of qualified radiologists worldwide, created a need and demand for effective teleradiology practices.

Geographically, North America dominated the global teleradiology market in 2012 with a revenue share of over 33%. This is attributed to presence of well-equipped hospitals and healthcare institutions, well informed patients and increased use of high bandwidth internet technologies. In addition, ready acceptance of novel medical approaches coupled with increased healthcare expenditure further propels the scope and demand for teleradiology practices in this region. Western Europe follows the growth trend of North American region owing to its technological advancements followed by improved healthcare awareness. In Asia-Pacific ongoing developments of medical imaging platforms and healthcare informatics, are expected to drive the growth of this market during the forecast period. On the other hand factors such as high cost of technology followed by lack of security of image data might hamper the growth of teleradiology technologies worldwide. 

global-teleradiology-market-by-modalities-2012
 

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