The demand within the global teleradiology services market is expected to grow at a sturdy pace in the years to follow. There has been an enormous demand for improved telehealth services across the world. Several experts consider telehealth or telemedicine as the potential future of the healthcare sector in providing improved treatment. Countries across the globe are revamping and renovating their healthcare industries to accommodate telehealth in its fabric of operation. Furthermore, induction and deployment of telehealth services has reaped commendable results for several healthcare facilities. It is important for the healthcare industry to evaluate its readiness to adopt telehealth services over the course of the next decade. The aforementioned factors have played an integral role in propelling sales across the global teleradiology market.

In this preview by Transparency Market Research (TMR), several important trends and opportunities pertaining the expansion of the global teleradiology market have been enunciated. It is important for the medical and healthcare industries to work in tandem with each other to develop a workable fabric for implementing telemedicine services. The benefits of cost-efficiency, patient management, and remote monitoring have been at the forefront of growth within the global teleradiology market. The increasing volume of revenues within the global teleradiology market can be attributed to advancements in telecare. Development of telehealth services shall emerge as a gamechanger for nations who can improve their healthcare sector by a visible chase. This report preview gives a deft analysis of the trends and propensities that have aided growth across the teleradiology market.

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Decoding the Relevance of Telemedicine and Teleradiology

Teleradiology is expected to cause formidable disruptions in the healthcare fabric of nations. It shall create a new vertical within healthcare that can expedite diagnosis, treatment, and analysis of diseases and disorders. The domain of telemedicine has helped in reducing costs of visiting healthcare professionals, generating immense utility for the patients. Besides, several countries have been eyeing at providing healthcare services to the remotest of regions. Telemedicine has made this possible with the induction of teleradiology, telesurgery, and tele-consulting. On account of the factors mentioned above, it is safe to expect that the global teleradiology market would grow by leaps and bounds.

Cost-Efficiency and Speed of Telemedicine Services

The healthcare industry is battling increasing load of patients, mainly due to the high incidence of chronic diseases. It has become virtually impossible to manage all the patients who visit healthcare facilities on a daily basis. Therefore, the total volume of sales across the global teleradiology market is set to increase. The quest of the healthcare fraternity to ensure quick diagnosis and testing has also created room for market growth and expansion. Over the course of the next decade, the teleradiology market would engulf several new technologies including teleradiology, telesurgery, and tele-oncology. Besides, the need for quicker reporting and consultation shall also bring in fresh revenues within the global teleradiology market.

Assistance from Picture Archiving and Communication System (PACS) for Telemedicine

On the basis of specialty, the global teleradiology market can be segmented into neurology, cardiology, gastroenterology, musculoskeletal, and oncology. The rising incidence of cancers, especially in remote, inaccessible, and underdeveloped areas, has brought teleradiology under the spotlight of attention. It is also worthwhile to note that the medical industry has been quick to embrace new-age telemedicine technologies in recent times.

The development of a robust teleradiology industry shall necessitate the presence of a subsidiary aids and technologies. There has been an influx of imaging technologies in the medical industry, helping healthcare practitioners in fostering improved care. The importance of picture archiving and communication technologies (PACS) in the field of teleradiology cannot be undermined. PACS has helped in sending and receiving clear X-rays of patients across the healthcare sector. It has also enabled quicker diagnosis of diseases, especially those pertaining to the bones and internal organs. The popularity of magnetic resonance imaging has also created a plethora of opportunities for growth within the global teleradiology market. Rising incidence of musculoskeletal disorders shall fetch fresh revenues for the vendors operating in the global teleradiology market.

Importance of Magnetic Resonance Imaging (MRI)

On the basis of modality, the global teleradiology market can be segmented into ultrasound, computed tomography, magnetic resonance imaging (MRI), and nuclear imaging. The use of MRIs for diagnosing internal disorders related to the brain, spinal cord, and other critical body organs has generated fresh opportunities for vendors operating in the teleradiology market. In this scenario, it is safe to expect that the government and state authorities would show an inclination towards investing in the teleradiology market. The healthcare sector of several countries is ascending the ladder of fruition, and the deployment of teleradiology services would play a crucial role in this feat.

Coordination between Diagnostic Facilities and Healthcare Units

The use of teleradiology has gone beyond the most sophisticated healthcare facilities, to engulf smaller and less developed facilities. A number of countries have approved decade-long rollout plans to embrace telemedicine and teleradiology services across their healthcare industry. Therefore, use of teleradiology services has become common across multiple facilities and healthcare units. On the basis of end-use, the global teleradiology market can be segmented into diagnostic imaging center, ambulatory surgical centers, hospitals, clinics, and other facilities. The use of teleradiology across diagnostic imaging centers is projected to gain momentum in the times to follow. Coordination between diagnostic facilities and healthcare centers would play a defining role in the success of telemedicine and teleradiology services.

Teleradiology Services Market - Overview

This report studies the current as well as future prospects of the global teleradiology services market. Stakeholders of this report include companies and intermediaries engaged in the provision of teleradiology services, and new players planning to enter the market. This report comprises an elaborate executive summary along with a market snapshot providing overall information of various segments considered in the scope of the study. This section also provides the overall information and data analysis of the global teleradiology services market with respect to the leading segments based on services type, coverage, specialty, modality, end-user, and region.

The teleradiology services market report comprises an elaborate executive summary, which includes a snapshot that provides information about various segments of the market. It also provides information and data analysis of the global market with respect to the segments based on services type, coverage, specialty, modality, end-user, and region. A detailed qualitative analysis of drivers and restraints of the market and opportunities has been provided in the overview section. Additionally, the section comprises competitive matrix and company profiles with business overview to understand the competitive landscape in the market. This section of the report also provides market attractiveness analysis by region and market share analysis by key players, Thereby presenting a thorough analysis of the overall competitive scenario in the global teleradiology services market.

Global Teleradiology Services Market: Key Segments

Based on services type, the global teleradiology services market has been classified into general reporting, consultation, auditing, and others. The general reporting segment is projected to account for significant market share in terms of revenue in 2018. Dominance of the segment is attributed to rise in demand for time saving and cost-effective radiograph interpretation by health care providers across the globe. In terms of coverage, the global market has been bifurcated into day time and after hours/night time. After hours/night time is projected to be the most attractive segment during the forecast period. Based on specialty, the global teleradiology services market has been divided into cardiology, neurology, musculoskeletal, gastroenterology, oncology, and others. The neurology segment is projected to lead the teleradiology services market in 2017. In terms of modality, the global teleradiology services market has been classified into X-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging, and others. Based on end-user, the global teleradiology services market has been categorized into hospitals, diagnostic imaging centers, ambulatory surgical centers, clinics, and others. Diagnostic imaging centers are sustaining strong growth propelled by joint ventures, acquisitions, and provision of all imaging services under one roof.

Each of the market segments has been extensively analyzed based on market-related factors such as rise in adoption of services. Moreover, historical year-on-year growth has been taken into consideration while estimating the market size. The market size and forecast in terms of US$ Mn for each segment have been provided for the period from 2016 to 2026. The report also provides compound annual growth rate (CAGR %) for each market segment for the forecast period from 2018 to 2026, considering 2017 as the base year and 2016 as the historical year.

The overview section of the report explores market dynamics such as drivers, restraints, and opportunities that currently have a strong impact on the teleradiology services market and are likely to influence it in the near future. Market attractiveness analysis has been provided in the overview section to explain the intensity of competition across different regions. The competitive scenario among various players is evaluated through market share analysis in the competitive landscape section of the report. All these factors are expected to help market players take strategic decisions to strengthen their positions and increase share in the global teleradiology services market.

Global Teleradiology Services Market: Regional Outlook

Geographically, the global teleradiology services market has been segmented into five major regions and the key countries in the respective region: North America (the U.S. and Canada), Europe (the U.K., Germany, France, Spain, Italy, and Rest of Europe), Asia Pacific  (India, China, Japan, Australia & New Zealand, and Rest of Asia Pacific), Latin America (Brazil, Mexico, and Rest of Latin America), and Middle East & Africa (South Africa, GCC Countries, and Rest of Middle East & Africa). The market size and forecast for each of these regions and the mentioned countries have been provided for the period from 2016 to 2026, along with their respective CAGRs for the forecast period from 2018 to 2026, considering 2017 as the base year. The research study also covers the competitive scenario in these regions.

Companies Mentioned in Report

The report also profiles major players in the global teleradiology services market based on various attributes such as company overview, financial overview, product portfolio, business strategies, and recent developments. Key players in the market are Envision Healthcare Corporation, MEDNAX Services, Inc., 4ways Healthcare Limited, Euro American Tele Radiology, Argus Radiology, Teleradiology Solutions, American Imaging Consultants, USARAD Holdings, Inc., ONRAD, Inc., Teleconsult Europe, Africa Telerad Limited, and Unilabs.

The global teleradiology services market has been segmented as follows:

Services Type

 

  • General Reporting
  • Consultation
  • Auditing
  • Others

Coverage

  • Day Time
  • After Hours / Night Time

Specialty

  • Cardiology
  • Neurology
  • Oncology
  • Musculoskeletal
  • Gastroenterology
  • Others

Modality

  • X-ray
  • Ultrasound
  • Magnetic Resonance Imaging (MRI)
  • Computer Tomography (CT)
  • Nuclear Imaging
  • Others

End-user

  • Hospitals
  • Diagnostic Imaging Centers
  • Ambulatory Surgical Centers
  • Clinics
  • Others

Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • U.K.
    • Italy
    • France
    • Spain
    • Rest of Europe
  • Asia Pacific
    • India
    • China
    • Japan
    • Australia & New Zealand
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC countries
    • South Africa
    • Rest of Middle East & Africa

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