The global teleradiology market
is expected to reach over USD 8.24 billion by 2024 according to a new report by
Grand View Research, Inc. The introduction of technology-enabled, accurate, and
real-time medical imaging devices favor their application in hospitals,
particularly for emergency cases. Moreover, new digital technology systems
facilitate the timely intervention of specialists from different locations for
critical cases. The rising base of geriatric population coupled with the
increasing prevalence of diseases, such as bone injuries, cancer, and dental
problems, drives the need for medical imaging systems. This is expected to have
a positive impact on the teleradiology market.
In rural areas, there is a
dearth of specialized radiologists in hospitals and majority of the hospitals
lack adequate access to the latest medical facilities; hence, these areas serve
as a huge base of untapped opportunities. The increasing government initiatives
to encourage the use of teleradiology in clinics and hospitals in emergency
situations are expected to augment the growth of the teleradiology market.
Benefits associated with
teleradiology are the factors likely to accelerate the market growth over the
forecast period. One of the most crucial benefits of teleradiology is getting a
spur-of-the-moment, second consultative opinion for critical cases with
high-resolution images, which can be sent across the globe to reputed
domain-specialists in radiology, thus facilitating a good connectivity among
radiologists worldwide. Furthermore, outsourcing of radiology services can be
done for small-scale hospitals or hospitals in under-served communities, where
the interpretation of reports can be obtained as and when required.
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Further key findings from the study suggest:
·
The x-ray segment dominated the
market in 2015 due to its wide range of applications, such as the detection of
fractures in bones or dental injuries and the increasing demand for core
diagnostics and bedside imaging. In 2015, this segment occupied over 30.0 % of
the revenue share.
·
The teleradiology-based CT scan
is the fastest growing segment and is expected to grow at a CAGR of over 20.0%
over the forecast period. Its lucrative growth is attributed to the
teleradiology-associated advantages, which include a high-resolution imaging
capacity, a faster testing rate, high usage rates, and the introduction of new
generation models, such as 3D and 4D.
·
In 2015,North America dominated
the teleradiology market owing to the existence of an advanced healthcare IT,
the introduction of high-speed connections, and high penetration rates of new
technologies
·
Supportive government
regulations for the expansion of teleradiology and faster technology adoption
in Asia Pacific are expected to drive the demand for teleradiology over the
forecast period
·
Key players include
Agfa-Gevaert N.V., Virtual Radiologic (vRAD), ONARD, Everlight Radiology,Global
Diagnostics, 4ways Healthcare Ltd., Spectra AB, Health Watch Tele Diagnostics
Pvt. Ltd., and RamSoft, Inc.
·
In an attempt to register
significant growth, market players adopted several strategies such as
geographic expansions, partnerships, new product development, and acquisitions.
For instance, in April 2016, Agfa Healthcare signed an agreement with Derby
Teaching Hospitals to implement its ORBIS ICU manager service.
Grand View Research has
segmented the teleradiology market on the basis of product and region:
Global Teleradiology Product Outlook, by Revenue (USD
Million, 2013 - 2024)
·
X-ray
·
Magnetic Resonance Imaging (MRI)
·
Ultrasound
·
Computed Tomography (CT)
·
Nuclear Imaging
Teleradiology Regional Outlook, by Revenue (USD Million,
2013 - 2024)
·
North America
·
U.S.
·
Canada
·
Europe
·
UK
·
Germany
·
Asia Pacific
·
China
·
Japan
·
Latin America
·
Brazil
·
MEA
·
South Africa
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About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range of
industries including technology, chemicals, materials, healthcare and energy.
For more market analysis reports, please visit: http://www.grandviewresearch.com/
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