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Global Teleradiology Market to Reach US$ 10.6 Billion by 2027, Augmented by the Rising Demand for Medical Imaging Procedures

Published on Jul 26, 2022

The latest report by IMARC Group, titled “Teleradiology Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2027,” finds that the global teleradiology market reached US$ 4.7 Billion in 2021. Teleradiology is a branch of telemedicine used to transmit radiological images from one location to another via telecommunication systems. It comprises digitized x-rays, computed tomography (CT) scan, magnetic resonance imaging (MRI), ultrasound, and nuclear medicine studies. It assists in sending complex images to major medical centers for evaluation without transferring the patient. As it also aids radiologists in obtaining immediate access to medical images over the internet, the demand for teleradiology is rising worldwide.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Teleradiology Market Trends:

At present, there is a rise in the demand for medical imaging procedures for the diagnosis, management, and treatment of diseases across the globe. This, along with the growing prevalence of chronic diseases, such as breast cancer, cellulitis, and osteomyelitis, represents one of the key factors driving the market. Besides this, the rising awareness among the masses about the benefits of teleradiology compared to conventional methods is contributing to the growth of the market. In addition, a shortage of healthcare professionals in sub-specialist segments, such as pediatric, neurology, and musculoskeletal radiology, is catalyzing the demand for teleradiology services. Moreover, the implementation of a picture archiving and communication system (PACS) to store securely and transmit electronic images digitally and clinically relevant reports is positively influencing the market. Apart from this, the increasing utilization of teleradiology for effective on-site solutions via cloud networks globally and real-time interpretation is bolstering the growth of the market. Looking forward, IMARC Group expects the market to reach US$ 10.6 Billion by 2027, exhibiting a CAGR of 14.20% during the forecast period (2022-2027).

Market Summary:

  • Based on the component, the market has been classified into software and services and hardware. At present, software and services hold the largest share of the market.
  • On the basis of the imaging technique, the market has been segregated into X-rays, computed tomography (CT), ultrasound, magnetic resonance imaging (MRI), nuclear imaging, and others. X-rays currently exhibit a clear dominance in the market.
  • Based on the end user, the market has been segmented into hospitals and clinics, ambulatory surgical centers, diagnostic centers, and others. Amongst these, hospitals and clinics dominate the market.
  • Region-wise, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa. Presently, North America enjoys a leading position in the market.
  • The competitive landscape of the market has been studied in the report, with some of the key players being 4ways Healthcare Limited, Agfa-Gevaert Group, Carestream Health, Cerner Corporation, FUJIFILM Corporation, General Electric Company, Koninklijke Philips N.V., McKesson Corporation, Mednax Services Inc., ONRAD Inc., RamSoft Inc., Siemens AG, Teleradiology Solutions, and USARAD Holdings Inc.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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