News | Patient Engagement | September 02, 2020

Advancements in medical digital technology, rise in prevalence of chronic diseases, development of IT infrastructure, and increase in healthcare expenditure fuel the growth of the global teleradiology market

Advancements in medical digital technology, rise in prevalence of chronic diseases, development of IT infrastructure, and increase in healthcare expenditure fuel the growth of the global teleradiology market

Getty Images


September 2, 2020 — Allied Market Research published a report, titled, "Teleradiology Market by Imaging Technique (X-rays, Computed Tomography (CT), Ultrasound, Magnetic Resonance Imaging (MRI), Nuclear imaging, Fluoroscopy, Mammography, and Others), Technology (Hardware, Software, and Telecom & Networking), and End User (Hospitals, Ambulatory Surgical Centers, Diagnostic Centers, and Others): Global Opportunity Analysis and Industry Forecast, 2018–2025." According to the report, the global teleradiology market size was estimated at $2.70 billion in 2017, and is anticipated to hit $10.62 billion by 2025, registering a CAGR of 18.4% from 2018 to 2025.

Drivers, restraints and opportunities

Advancements in medical digital technology, rise in prevalence of chronic diseases, development of IT infrastructure, and increase in healthcare expenditure fuel the growth of the teleradiology market. On the other hand, low availability of broadband networks in rural areas and dearth of skilled professionals impede the growth to some extent. However, development of low-power consuming, wireless and portable X-ray technologies is expected to create a number of opportunities in the industry.

COVID-19 scenario

Although the coronavirus pandemic has unleashed a series of unprecedented events affecting every industry, the teleradiology market has not been highly impacted as the demand for proper transmission of radiological images and related data from one location to another for various diagnostic purposes has remained the same. However, the changing relationship between China and the rest of the world is expected to influence competition and opportunities in the global market.

The computed tomography segment to dominate by 2025

Based on imaging technique, the computed tomography segment accounted for around one-fourth of the global teleradiology market share in 2017, and is expected to rule the roost by the end of 2025. Capability of CT scan to shot complex body structures such as lungs, brain, and cardiac cavities drives the growth of the segment. The nuclear imaging segment, on the other hand, would grow at the fastest CAGR of 23.2% throughout the forecast period. This is attributed to technological advancements and increase in diagnostic applications in several diseases, such as cancer & cardiovascular infections.

The software segment to maintain the dominant share

Based on technology, the software segment contributed to nearly three-fifths of the global teleradiology market revenue in 2017, and is anticipated to lead the trail from 2018 to 2025. This software happens to minimize the wait times that teleradiologists, medical professionals, and physicians experience in the process of retrieving, reviewing and editing patient radiological images which, in turn, has fueled the growth of the segment. Simultaneously, the telecom & networking segment would register the fastest CAGR of 20.4% till 2025. This is due to growing demand for telecom services and increasing deployment of 4G.

North America garnered the major share in 2017

Based on region, North America held the major share in 2017, generating more than two-fifths of the global market. This is attributed to the high awareness about teleradiology and availability of advanced teleradiology software such as PACS, RIS in the province. At the same time, the Asia-Pacific region would portray the fastest CAGR of 22.1% during the study period. Rise in healthcare expenditure along with strong government support for the development of advanced tele-based technologies has boosted the market growth in this region.

For more information: www.alliedmarketresearch.com


Related Content

News | Radiology Business

May 30, 2023 — Strategic Radiology (SR) welcomed 23-radiologist Radiology Associates of Eugene, OR, to the national ...

Time May 30, 2023
arrow
News | Radiology Business

May 26, 2023 — HIMSS has appointed two technology executives at the helm as chair and vice chair of the HIMSS Board of ...

Time May 26, 2023
arrow
News | Radiology Business

May 26, 2023 — Siemens Healthineers and CommonSpirit Health have agreed to acquire Block Imaging. This new acquisition ...

Time May 26, 2023
arrow
News | Computed Tomography (CT)

May 26, 2023 — GE HealthCare, a leading medical technology innovator, announced today its largest ever CT deal in the ...

Time May 26, 2023
arrow
Feature | Radiology Business

May 24, 2023 — Park Ridge, N.J.-based publisher Wainscot Media has named Laura Dowden as managing director, group ...

Time May 24, 2023
arrow
News | Pediatric Imaging

May 24, 2023 — A new advanced form of computed tomography (CT) imaging called photon-counting computed tomography (PCCT) ...

Time May 24, 2023
arrow
News | Artificial Intelligence

May 24, 2023 — Since the launch of ChatGPT in November 2022, the use of large language models (LLMs) powered by ...

Time May 24, 2023
arrow
News | ASTRO

May 23, 2023 — More than 9 in 10 radiation oncologists report that their practices face clinical staff shortages ...

Time May 23, 2023
arrow
News | Radiology Business

May 23, 2023 — Intelerad Medical Systems, a leading global provider of enterprise medical imaging solutions, announced ...

Time May 23, 2023
arrow
News | PET Imaging

May 22, 2023 — New research finds that the brains of otherwise healthy military personnel who are exposed to explosions ...

Time May 22, 2023
arrow
Subscribe Now