This report provides comprehensive analysis of the teleradiology market in Western Europe considering various factors such as number of radiologists in the country, advancement in technologies such as cloud computing, PACS, and RIS systems, and demand for advanced teleradiology services. The report studies the teleradiology market based on type of modality and countries in Western Europe.
Teleradiology is transmission of radiology images from one location to another for emergency services and second opinion from an expert. It is also a cost saving option. Hence, demand for teleradiology is likely to increase during the forecast period from 2015 to 2023 in Western Europe. Based on modality, the teleradiology market in Western Europe has been segmented into X-ray, ultrasound, computed tomography (CT), magnetic resonance imaging (MRI), and nuclear imaging. Furthermore, based on country, the market in Western Europe has been segmented into six major regions: the U.K., Germany, Spain, the Netherlands, Italy, and Rest of Western Europe. These countries play an important role in Western Europe and in the overall teleradiology market in Europe.
Market size for each of the segments and sub-segments mentioned above is provided in US$ Mn, considering 2013 and 2014 as base years and forecast from 2015 to 2023. The forecast model considers various factors such as number of modality procedures conducted in Western Europe, health care expenditure of country, advantages, and disadvantages of individual modality segment, penetration of teleradiology services in a country, acceptance of advanced teleradiology technologies such as PACS, RIS in the country, and government regulations of the country for intra-country and cross-border teleradiology. The research methodology is a blend of primary as well as secondary market research, where market estimates based on desk research are further refined considering inputs from expert interviews.
This report on the teleradiology market in Western Europe also provides qualitative information on major players in the market and current trends in the teleradiology market in Western Europe. It also includes details on existing regulatory policies for intra-country and cross-border teleradiology services in major countries. Major factors driving and restraining the growth of the teleradiology market in Western Europe are reviewed in the report, while opportunities from future perspective are also analyzed. Furthermore, Porter’s Five Forces Analysis provided in this report describes the competitiveness in the market in terms of bargaining power of service suppliers, bargaining power of buyers, threat of substitutes, threat of new entrants in the teleradiology market, and competitive rivalry in Western Europe. Market attractiveness analysis by country provides information on most attractive countries for teleradiology in Western Europe.
Finally, the report profiles major players in the teleradiology market in Western Europe including Agfa-Gevaert N.V., Cybernet Medical Corporation, ONRAD, Inc., Sectra AB, Telemedicine Clinic, and Global Diagnostics Limited. Each of the companies is profiled for parameters such as company overview, financial overview, product portfolio, business strategies, and recent developments in the market, which will in due course help to take strategic decisions with respect to the teleradiology market in Western Europe. The report on the “Western Europe teleradiology market” estimation and forecast comprises 70 slides.
1.1 Report Description
1.2 Research Methodology
1.3 Market Segmentation
2. Executive Summary
2.1 Market Snapshot
2.2 Western Europe Teleradiology Market, by Modality, 2014 (US$ Mn)
3. Western Europe Teleradiology Market Overview
3.2 Recent Market Trends: Western Europe Teleradiology Market
3.3 Market Dynamics
3.4.1 Advancements in digital technology
3.4.2 Increasing introduction of mHealth services
3.4.3 Rise in health care expenditure
3.5.1 High cost of technology
3.5.2 Language barrier
3.5.3 Stringent and complex regulations
3.6.1 Investment in teleradiology services to upgrade digital infrastructure
3.7 Porter’s Five Forces Analysis
3.8 Regulatory Framework
3.9 Market Attractiveness Analysis
4. Market Segmentation - By Modality
4.1 Introduction Western Europe Teleradiology Market
4.2 Market Revenue of X-ray, 2013–2023, (US$ Mn)
4.6 Nuclear Imaging
5. Market Segmentation - By Country
5.7 Western Europe
6.1 Adoption of New Business Models Enabling the Development of the Teleradiology Market
7. Company Profiles
7.1 Agfa-Gevaert N.V.
7.2 Cybernet Medical Corporation
7.3 ONRAD, Inc.
7.4 Sectra AB
7.5 Telemedicine Clinic
7.6 Global Diagnostics Ltd.
Teleradiology is a comprehensive part of telehealth services. Teleradiology refers to electronic transmission of radiology images between two locations via technology for emergency services or second opinion. This service bridges the gap between the imbalance of demand and supply of expert radiologists and diagnostic services. Initially, the image transfer process was tedious, time consuming, and provided unreliable image clarity and quality. Currently, teleradiology shows the rapid progression in image processing and transmission tools and technologies. Hence, radiology experts believe that the teleradiology market will provide lucrative business opportunities in the near future.
Western Europe is a developed market and accounts for about 70% to 75% share of the teleradiology market in Europe. Consistent evolution of information and communication technologies and shortage of expert radiologists across Europe are likely to drive the market during the forecast period. Furthermore, cost effective solutions, emergency coverage, and increasing number of imaging procedures are anticipated to boost the teleradiology market in Western Europe. However, complex regulations, language barrier, and high cost of technology (initial investment) are expected to restrain the teleradiology market in the region.
The teleradiology market in Western Europe has been segmented based on modality into X-ray, ultrasound, computed tomography, magnetic resonance imaging (MRI), and nuclear imaging. X-ray teleradiology was the largest segment in 2014. The segment is likely to maintain its market share during forecast period owing to increasing number of X-ray procedures and need for expert radiologist advice because of complexity of images due to advanced technology. Ultrasound teleradiology accounted for the second largest share of the market due to development of 3-D and 4-D ultrasound platforms, absence of ionizing radiation, and increasing reliability of receiving clear images. However, CT teleradiology is considered a highly lucrative segment during the forecast period from 2015 to 2023 due to its ability to visualize complex body parts such as brain, lungs, and cardiac abnormalities, and favorable reimbursement policies.
Geographically, the teleradiology market in Western Europe has been segmented into six regions: the U.K., Germany, Spain, Italy, the Netherlands, and Rest of Western Europe. The U.K. and Germany together accounted for the largest share of the market. The U.K. accounted for the largest share of the teleradiology market in Western Europe in 2014. The market in the country is likely to witness the highest growth during forecast period owing to rapid development in digital image processing technology, high implementation of picture archiving communication systems (PACS), and presence of major market players along with a number of other domestic service providers. Germany was the second largest market in 2014 due to lack of expert radiologists and government initiatives to encourage the teleradiology market. However, the market in Germany is anticipated to expand at a slow growth rate as compared to that in the U.K. due to stringent cross-border regulations and high cost associated with teleradiology.
The teleradiology market in Western Europe is highly fragmented market. Key players in the teleradiology market in Western Europe include Agfa-Gevaert N.V., Cybernet Medical Corporation, ONRAD, Inc., Sectra AB, Telemedicine Clinic, and Global Diagnostics Ltd. Several other domestic players play an important role in the teleradiology market in the region.