Teleradiology Market was valued at US$ 7.44 Bn in 2021 and is expected to reach US$ 22.44 Bn by 2029, at a CAGR of 14.80% during the forecast period.
Pune, Nov 22, 2022: Maximize Market Research has published a report on the Teleradiology Market that provides a detailed analysis for the forecast period of 2022 to 2029. According to the report, the Teleradiology Market size was valued at USD 7.44 Bn. in 2021 and the total market revenue is expected to grow by 14.80 % from 2022 to 2029, reaching nearly USD 22.44 Bn.
An in-depth analysis of the main market growth factors, limitations, difficulties, and opportunities is provided in this study. An exhaustive analysis of the Teleradiology Services The market size, recent trends, growth, share, development status, dynamics, cost structure, and the competitive environment are all provided in this study. The report includes a review of the major investment pockets currently engaged in the Teleradiology Services industry as well as key participants. The study emphasizes important market trends, competition, difficulties, and industry advancements. It also analyses gaps in the market and identifies new possibilities. The macroeconomic and microeconomic aspects affecting the market are also carefully examined in the research. Moreover, a thorough analysis of the crucial market components, including drivers, constraints, supervisory situations, past and present trends, and technological development.
Teleradiology Market Overview:
In order to aid in the process of medical diagnosis or therapy, teleradiology is a medical method that takes pictures of the internal structure and function of the body. It has the ability to take medical images in one place and facilitate or transmit them over a distance so that a radiologist may view and analyze them for diagnostic or consultation reasons. Radiologists can effectively carry out their everyday tasks thanks to the extensive usage of teleradiology in telemonitoring, teleconsultation, and telediagnosis. Through global cloud networks and real-time interpretation, teleradiology enables effective on-site solutions. Teleradiology mainly assists medical practitioners in accessing patient information regardless of location, hence enhancing diagnostic coverage.
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Teleradiology Market Dynamics:
It is expected that an increase in imaging operations will increase the need for improved teleradiology systems for efficiency and dependability. In the NHS, roughly 5 million CT scans are performed annually, but over 80 million CT scans are performed annually in the US, according to a University College London report from July 2020. CT scanning accounts for one-fourth of all the radiation to which Americans are exposed. Advanced and sophisticated diagnostic imaging techniques demand a high level of technical competence and expertise, which increases the complexity of situations due to a lack of sufficient resources.
One of the most exciting developments in teleradiology is artificial intelligence. The number of publications on AI in radiology is thought to have increased over the last ten years from an average of 100–150 to 700–800 per year. The adoption of AI is higher in CT and MRI systems than in any other main imaging modalities, and based on applications, AI is mostly used in neuroradiology. The number of AI-related products that various market participants are offering has increased. For instance, 25 of the 104 businesses who displayed AI-based medical imaging technology at the 2018 annual meeting of the Radiology Society of North America (RSNA) were first-time exhibitors.
Applications for teleradiology such as teleconsultation, telemonitoring, and telediagnosis help radiologists efficiently carry out their everyday tasks. Global cloud networks, real-time interpretation, and effective on-site solutions are all provided via teleradiology. The prevalence of chronic diseases such breast cancer, cellulitis, and osteomyelitis is expected to rise, as is the number of emergency cases in less developed regions. For instance, according to the International Agency for Research on Cancer, breast cancer will account for approximately 2,261,419 new cases in 2020, placing it first among all other malignancies.
Recent Developments:
In Dec 2021, Stratus Imaging PACS, a cloud-native, zero-footprint picture archiving and communication system, was introduced by McKesson Corporation (US).
In Mar 2020, In order to promote preventive COVID-19 screening initiatives in high-risk areas, USARAD Holdings Inc. (US) and Nanox Imaging (Israel) worked together to make it possible to bring Nanox's mobile imaging technology to those places.
Teleradiology Market Regional Insights:
Having accounted for 39.09% of the global market in 2021, North America is expected to continue to dominate during the forecast period. The key elements driving the market's growth are the increasing target population, rising prevalence of chronic diseases, and the presence of significant regional market players. Furthermore, the region's market is expected to be further fueled by the region's established infrastructure, helpful government efforts, and rising demand for effective radiology solutions. During the forecast period, Asia Pacific is expected to experience the fastest CAGR of 13.7%. This can be linked to the area's significant unmet healthcare requirements and the fast growing healthcare infrastructure. A large section of the population in emerging nations like India and China lives in rural areas with little access to healthcare because the majority of advanced care facilities are located in urban areas.
Teleradiology Market Segmentation:
Based on Imaging Technique, Teleradiology Market is segmented into X-rays, Computed Tomography (CT), Ultrasound, Magnetic Resonance Imaging (MRI), Nuclear imaging, Fluoroscopy, Mammography, and Others.
Based on Technology, Teleradiology Market is segmented into Hardware, Software, Telecom & Networking.
Based on End User, the Teleradiology Market is segmented into Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others.
Based on Region, Teleradiology Market is segmented into North America, Europe, Asia Pacific, the Middle East and Africa, and South America.
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Maximize Market Research provides B2B and B2C research on 12,500 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Bever
Nov 22, 2022
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