The Teleradiology Market research report offers an in-depth analysis of the global Teleradiology Market by presenting the details about the latest product launches and recent innovations in the market. It also provides data about impact on the market growth due to covid-19. The competitive landscape has also been incorporated in the market so as to understand the market current scenarios and trends. Moreover, the report also highlights collaborations, company mergers, and upcoming collaborations to strive in the market successfully.
Teleradiology Market Overview
The global Teleradiology Market size is projected to reach a CAGR of 16.39% from 2021-2028.
Teleradiology is a branch of telemedicine that involves transmission of radiological images and related data from one location to another for diagnostic and consulting purpose. It is an advanced technology that has emerged due to the imbalance between demand and availability of diagnostic services. This is evident from the fact that high demand for radiology services in countries such as the U.S., Singapore, and the UK, were often unfulfilled owing to dearth of skilled and specialized professionals specific to teleradiology.
The rising geriatric population and the subsequent increase in the prevalence of associated diseases; the increasing number of advanced imaging procedures and a shortage of skilled radiologists; advancements in teleradiology the increasing adoption of cloud-based solutions are some of the factors that have supported long-term expansion for Teleradiology Market.
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Due to the outbreak of COVID-19 globally, medical practices of all sizes are under immense pressure, and healthcare providers need to rely on teleradiology solutions to read diagnostic reports and treat patients. Teleradiology solutions also help to improve the efficiency of diagnostic imaging by optimizing and simplifying radiology with correct reads and reduced manual errors. As the battle against COVID-19 continues, there is a growing need to make teleradiology solutions more common.
Teleradiology Market Regional Analysis
The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth in the APAC region is mainly driven by the growing awareness about the benefits of early disease diagnosis, improvements in healthcare systems, growing medical tourism market in APAC countries, increasing healthcare expenditure, and increasing government initiatives for modernizing the healthcare infrastructure.
Teleradiology Market Competitive Landscape
Key Players
- Siemens AG
- 4ways Limited
- Global Diagnostics Limited
- Mednax, Inc.
- Koninklijke Philips N.V.
- GE Healthcare
- Everlight Radiology
- Agfa-Gevaert Group
- Radisphere National Radiology Group, Inc.
- Fujifilm Medical Systems, Inc.
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Teleradiology Market Recent Developments
- In August 2021, GE Healthcare (US) launched a cloud-based Edison True PACS provides innovative & AI-enabled decision-making tools which help enhance reading speed, reduce errors, improve diagnostic precision, and enable confident diagnoses.
- In January 2021, Medica Group (UK) partnered with Sectra AB (Sweden) to provide a new Picture Archive and Communication System (PACS) for elective and emergency NightHawk reporting. This development is expected to help hospitals with a wide range of emergency imaging reports reading in an average of 23 minutes.
Reasons to Acquire in the Teleradiology Market
- Increase your understanding of the market for identifying the best and suitable strategies and decisions on the basis of sales or revenue fluctuations in terms of volume and value, distribution chain analysis, market trends and factors
- Gain authentic and granular data access for Teleradiology Market so as to understand the trends and the factors involved behind changing market situations
- Qualitative and quantitative data utilization to discover arrays of future growth from the market trends of leaders to market visionaries and then recognize the significant areas to compete in the future
- In-depth analysis of the changing trends of the market by visualizing the historic and forecast year growth patterns
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Frequently Asked Questions
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The global teleradiology market size is estimated to reach USD 11.5 billion by 2026 registering a CAGR of 18.4%, according to a new report by Grand View Research, Inc.
Rising prevalence of chronic diseases, such as osteoporosis and arthritis, along with growing geriatric population are expected to drive the market.
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Over 82% of people suffering from osteoarthritis have difficulty in movement and around 25% are not able to perform daily activities.In addition, legislative amendments made by various governments worldwide for diagnostic imaging services will enhance the growth of this market during the forecast period.
This has allowed better access to diagnostic imaging for various conditions.
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This report aims to provide detailed insights into the global diagnostic imaging services market.
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Radiology Center at Harding, a leading provider of top-quality medical imaging services to patients in Morris County and neighboring areas, has set up Hitachi's SOFIA 3D Whole Breast Ultrasound at its facilities.
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