Teleradiology Market

Teleradiology Market by Products & Services (Services, Hardware, Software (PACS, RIS)), Imaging Technique (MRI, CT, X-ray, Ultrasound, Mammography, Nuclear Imaging), End User (Hospitals, Diagnostic Centers & Laboratories), COVID-19 Impact - Forecast to 2025

Report Code: HIT 7701 Jul, 2020, by marketsandmarkets.com

[183 Pages Report] The teleradiology market is expected to reach USD 22.8 billion by 2025 from USD 7.9 billion in 2020, at a CAGR of 23.5% during the forecast period of 2020 to 2025. Due to the outbreak of corona virus globally, there is a sudden rise in the demand for teleradiology services. The growth of this market is mainly attributed to the rising geriatric population and the subsequent increase in the prevalence of associated diseases, the increasing adoption of cloud-based solutions, and the benefits offered by teleradiology and a dearth of skilled radiologists. However, declining reimbursements and increasing regulatory burden in the US and data breaching of imaging report hampered market growth to an extent.

In this report, the teleradiology market is segmented on the basis of product and service, imaging technique, end user, and region.

Teleradiology Market

COVID-19 Impact on the Teleradiology Market

Coronavirus has spread across 215 countries and territories and affected more than 4.4 million people, with close to 300 thousand deaths. 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.

However, this industry is facing staffing, monetary, and logistics challenges as a number of radiologists are moving into the cluster of telehealth and teleradiology. In radiology, the volumes have dropped drastically due to the cancellation or postponement of elective procedures. Additionally, there are internet bandwidth issues, especially in rural hospital settings, and people living in rural areas are hesitant to accept teleradiology reports due to data breaching issues.

Teleradiology Market Dynamics

Drivers: Benefits offered by teleradiology and a dearth of skilled radiologists

Teleradiology enables the transmission of diagnostic medical images from one location to another, where it can be accessed by radiologists and physicians. It enables radiologists to provide their expertise without necessarily being at the same location as the patient. This is essential because radiologist subspecialties are few in number and typically located in metropolitan cities. The adoption of teleradiology solutions has significantly helped bridge the rural-urban disparity in many emerging countries, including India and Brazil, as well as developed economies like the US, the UK, and Germany. These solutions are more convenient and cost-effective as they eliminate the need for travel and allow radiologists to work from anywhere. A dearth of qualified radiologists has further increased the demand for teleradiology services.

Restrains: Declining reimbursements and increasing regulatory burden in the US

The US dominates the teleradiology market and accounts for more than 60% share of this market. However, from 2016 to 2018, there has been a steady decline in reimbursements and an increase in regulatory changes within the country. This has led to consolidation in the healthcare industry. The regulatory processes associated with the industry are impeding the growth of the market. For instance, in the US, the Protecting Access to Medicare Act of 2014 or PAMA sets appropriate use criteria (AUC) for advanced diagnostic imaging services provided to the beneficiaries of Medicare. According to PAMA, every healthcare professional who orders an advanced diagnostic imaging test should consult the AUC through a clinical decision support mechanism (CDSM). These developments can significantly restrain the growth of the diagnostic imaging market in the US, which, in turn, will affect the growth of the teleradiology market.

Opportunities: Adoption of artificial intelligence in teleradiology

Artificial intelligence is one of the most promising breakthroughs in the field of teleradiology. In the past 10 years, it is estimated that the number of publications on AI in radiology increased from an average of 100–150 research publications per year to 700–800 per year. Of all the major imaging modalities, the adoption of AI is higher in CT and MRI systems; likewise, based on applications, AI is majorly used in neuroradiology. Several players in this market have increased their offerings in the field of AI. For instance, in the Radiology Society of North America (RSNA) annual conference of 2018, about 104 companies exhibited AI-based technologies in the medical imaging space, of which 25 companies were first-time exhibitors. AI can help create an inbuilt system that prioritizes cases based on a protocol requirement. For example, cases of trauma and stroke can be prioritized and assigned to the radiologist’s work lists, thereby saving many lives.

Challenges: Data breach of imaging reports

Teleradiology enables the sharing of medical images to facilitate the delivery of care. However, cybersecurity measures to protect patient health information are often not implemented. There are ethical and legal obligations for healthcare providers to preserve the privacy and confidentiality of patient information, which can contain some of the most intimate information about an individual. Most clinical picture archive and communication systems (PACS) use digital imaging and communications in medicine (DICOM) standard image format for medical images. PACS could result in significant data loss, could serve as an avenue to cause disruption through a hospital’s system, or should the information be altered or misdirected, could impede timely diagnosis and treatment, thereby challenging the growth of this market.

The software segment is estimated to grow at the highest CAGR in the teleradiology, by products and services market, in 2019

Based on product and service, the teleradiology market is segmented into teleradiology services, software, and hardware. The teleradiology services segment accounted for the largest share in 2019. The software segment is estimated to grow at the highest CAGR during the forecast period. The increasing demand for healthcare software has driven software companies to improve interoperability, enhance technical capabilities, and increase data transparency. Moreover, the COVID-19 outbreak has led to an increased need for better management of large amounts of patient data. Owing to this, many hospitals are deploying teleradiology solutions to improve the efficiency of healthcare providers and improve patient outcomes.  Moreover the software segment is further classified as RIS and PACS

The CT segment will dominate the teleradiology, by imaging technique market during the forecast period

Based on imaging technique, the teleradiology market is segmented into X-ray, computed tomography (CT), ultrasound, magnetic resonance imaging (MRI), nuclear imaging, fluoroscopy, and mammography. In 2019, the computed tomography segment accounted for the largest market share. Computed tomography (CT) is used in a wide range of applications, such as cardiology, oncology, neurology, and abdomen and pelvic, and spine and musculoskeletal imaging. Factors such as the growing need for effective and early diagnosis, technological advancements, and digitalization in this field are driving the growth of the teleradiology market for this segment. According to the WHO, more than 100 million CT scans are performed every year across the globe. The need to prevent exploratory surgeries and improvements in cancer diagnosis and treatment have increased the demand for CT scans over other imaging techniques.

Hospitals and clinics are the largest end users of teleradiology

Based on end users, the teleradiology market is segmented into hospitals and clinics; diagnostic imaging centers and laboratories; long-term care centers, nursing homes, and assisted living facilities; and other end users. The hospitals and clinics segment accounted for the largest share of in 2019. The large share of this segment can be attributed to the rising number of diagnostic imaging procedures performed in hospitals, the growing inclination of hospitals towards the automation and digitization of patient records, and the growing need to improve the quality of patient care. Moreover, a shortage of radiologists due to the COVID-19 pandemic and the rising adoption of advanced imaging modalities to improve workflow efficiency in hospitals are further expected to support the growth of this end-user segment.

Asia Pacific market to witness the highest growth during the forecast period

The teleradiology  is divided into five regions—North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. These regions are further analyzed at the country levels. North America held the largest share of the teleradiology  market in 2019, followed by Europe and the Asia Pacific. 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 by Region

Key Market Players

The products and services market is dominated by a few globally established players such as Philips Healthcare (Netherlands), MEDNAX Services Inc.(US), Teleradiology Solutions (India) and Carestream Health Inc. (US)

Report Metric

Details

Market size available for years

2018-2025

Base year considered

2019

Forecast period

2020–2025

Forecast units

Value (USD)

Segments covered

By Products and Services , By Imaging Technique, By End User

Geographies covered

North America, Europe, Asia Pacific, Latin America, Middle East and Africa

Companies covered

The major market players include Philips Healthcare (Netherlands), Cerner Corporation (US),Siemens Healthineers (Germany), McKesson Corporation (US), FUJIFILM Holdings Corporation (Japan), Agfa Healthcare (Belgium), MEDNAX Services, Inc. (US), ONRAD Inc. (US), RamSoft Inc. (Canada), Novarad Corporation (US), TeleDiagnostic Solutions Pvt. Ltd. (India), Teleradiology Solutions (India), Telerad Tech (India), StatRad LLC (US), MedWeb LLC (US), WebRad TeleRadiology (India), Nautilus Medical (US), Carestream Health Inc. (US), USARAD Holdings, Inc. (US), and Everlight Radiology (Australia).

The study categorizes the teleradiology market based on product and services , imaging technique, end user, component at the regional and global level.

By Products and Services

  • Teleradiology Services
  • Software
    • PACS
    • RIS

By Imaging Technique

  • CT
  • MRI
  • Ultrasound
  • X-ray
  • Mammography
  • Nuclear Imaging
  • Fluoroscopy

By End Users

  • Hospitals and Clinics
  • Diagnostic Imaging Center and Laboratories
  • Long tem care centers, nursing homes, assisted living facilities.
  • Others

Recent Developments

  • In June 2020, Phillips Healthcare (Netherlands) enetered into a partnership with American  Telemedicine Association (ATA) (US) . This partnership aims to further the adoption of telehealth  in the US.
  • In March 2020, USARAD Holdings Inc. (US), a teleradiology company backed by Siemens Healthineers, announced the launch of a first-of-its-kind screening program to identify patients with COVID-19.
  • In April 2020, Teleradiology Solutions, a teleradiology service and solutions provider, along with the Society of Emergency Radiology and the faculty of AIIMS India, organized a webinar on Imaging COVID-19. This webinar brought together radiologists to share useful COVID-19 information and resources.
  • In March 2020, USARAD Holdings Inc. (US) entered into a partnership with Medical Diagnostic Web (MDW), a blockchain-powered marketplace that provides access to hundreds of radiologists ready to provide diagnostic assistance. The new program allows providers to upload images through USARAD’s online service, 24-hours-a-day. Radiologists will be available to help either diagnose or rule out COVID-19.
  • In March 2020, USARAD Holdings Inc. (US) announced a collaboration with the Nanox Imaging (Israel) to facilitate bringing Nanox’s mobile imaging system to high-risk areas, supporting preventive COVID-19 screening efforts in these locations.

Frequently Asked Questions (FAQ):

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1INTRODUCTION (Page No. - 24)
1.1Objectives of the Study
1.2Market Definition
1.2.1Inclusions & exclusions
1.2.2Markets covered
Figure 1Teleradiology market
1.2.3Years considered for the study
1.3Currency
Table 1Exchange rates utilized for the conversion to USD
1.4Limitations
1.5Stakeholders
2RESEARCH METHODOLOGY (Page No. - 27)
2.1Research Approach
Figure 2Research design
2.1.1Secondary data
2.1.1.1Key data from secondary sources
2.1.2Primary data
Figure 3Primary sources
2.1.2.1Key data from primary sources
2.1.2.2Key industry insights
Figure 4Breakdown of primary interviews: By company type, designation, and region
2.2Market Size Estimation
Figure 5Market size estimation: Revenue share analysis
Figure 6Market size estimation: Parent market
Figure 7Top-down approach
2.3Market Breakdown & Data Triangulation
Figure 8Market data triangulation methodology
2.4Assumptions for the Study
3EXECUTIVE SUMMARY (Page No. - 37)
Figure 9Teleradiolgy market, by product & service, 2020 VS. 2025 (USD Million)
Figure 10Teleradiology market, by imaging technique, 2020 VS. 2025 (USD Million)
Figure 11Teleradiology market, by end user, 2020 VS. 2025 (USD Million)
Figure 12Geographical snapshot of the teleradiology market
4PREMIUM INSIGHTS (Page No. - 41)
4.1Teleradiology Market Overview
Figure 13Dearth of skilled radiologists & need for faster and improved diagnosis are driving market growth
4.2Asia Pacific: Teleradiology Market, by Product & Service and Country (2019)
Figure 14Teleradiology services segment accounted for the largest share of the APAC teleradiology market in 2019
4.3Teleradiology Market: Geographic Growth Opportunities
Figure 15China to register the highest growth rate during the forecast period
4.4Regional Mix: Teleradiology Market (2020−2025)
Figure 16North America will continue to dominate the teleradiology market in 2025
4.5Teleradiology Market: Developing VS. Developed Markets
Figure 17Developing markets to register higher growth rates during the forecast period
5MARKET OVERVIEW (Page No. - 45)
5.1Introduction
5.2Market Dynamics
Figure 18Teleradiology market: Drivers, restraints, opportunities, and challenges
5.2.1Market drivers
5.2.1.1Rising geriatric population and the subsequent increase in the prevalence of associated diseases
Table 2Prevalence of chronic diseases
5.2.1.2Increasing adoption of cloud-based solutions
5.2.1.3Benefits offered by teleradiology and a dearth of skilled radiologists
5.2.2Restraints
5.2.2.1Declining reimbursements and increasing regulatory burden in the US
5.2.3Opportunities
5.2.3.1High growth opportunities in emerging countries
5.2.3.2Adoption of artificial intelligence in teleradiology
5.2.3.3Use of blockchain technology in teleradiology
5.2.4Challenges
5.2.4.1Data breach of imaging reports
6INDUSTRY INSIGHTS (Page No. - 51)
6.1Introduction
6.2Industry Trends
6.2.1Growing adoption of telehealth solutions
6.2.2Demand for subspecialty services
6.3Regulatory Analysis
Table 3Key regulations & standards governing teleradiology solutions
6.4Impact Of Covid-19 on the Teleradiology Market
6.4.1Strategies adopted by teleradiology players during covid-19
7TELERADIOLOGY MARKET, BY PRODUCT & SERVICE (Page No. - 55)
7.1Introduction
Figure 19Software segment to register the highest growth during the forecast period
Table 4Teleradiology market, by product & service, 2018–2025 (USD Million)
7.2Teleradiology Services
7.2.1Rising demand for out-of-hours reporting to drive market growth
Table 5Services offered by key market players
Table 6Teleradiology services market, by country, 2018–2025 (USD Million)
7.3Software
Table 7Teleradiology software market, by type, 2018–2025 (USD Million)
Table 8Teleradiology software market, by country, 2018–2025 (USD Million)
7.3.1Picture archiving & communication systems
7.3.1.1Frequent need for upgrades & improvements in software applications are the major factors driving market growth
Table 9PACS software offered by key market players
Table 10PACS market, by country, 2018–2025 (USD Million)
7.3.2Radiology information systems
7.3.2.1RIS is often used in conjunction with PACS and VNA
Table 11RIS software offered by key market players
Table 12RIS market, by country, 2018–2025 (USD Million)
7.4Hardware
7.4.1Need for faster data exchange & better interoperability are driving the growth of this segment
Table 13Teleradiology hardware market, by country, 2018–2025 (USD Million)
8TELERADIOLOGY MARKET, BY IMAGING TECHNIQUE (Page No. - 66)
8.1Introduction
Figure 20Computed tomography segment will continue to dominate the teleradiology market in 2025
Table 14Teleradiology market, by imaging technique, 2018–2025 (USD Million)
8.2Computed Tomography
8.2.1Rising demand for ct systems among hospitals is supporting the growth of this segment
Table 15Teleradiology market for computed tomography, by country, 2018–2025 (USD Million)
8.3Magnetic Resonance Imaging
8.3.1Increasing prevalence of neurological disorders to drive market growth
Table 16Teleradiology market for magnetic resonance imaging, by country, 2018–2025 (USD Million)
8.4Ultrasound
8.4.1Rising patient preference for minimally invasive procedures is propelling the growth of this segment
Table 17Teleradiology market for ultrasound, by country, 2018–2025 (USD Million)
8.5X-Ray
8.5.1Reduction in image acquisition time has increased the demand for x-rays
Table 18teleradiology market for x-ray, by country, 2018–2025 (USD Million)
8.6Mammography
8.6.1absence of skilled onsite radiologists to interpret mammograms is driving the growth of the teleradiology market for this segment
Table 19Teleradiology market for mammography, by country, 2018–2025 (USD Million)
8.7Nuclear Imaging
8.7.1Rising prevalence of cancer to support the growth of this segment
Table 20Teleradiology market for nuclear imaging, by country, 2018–2025 (USD Million)
8.8Fluoroscopy
8.8.1High radiation dose ─ a major drawback associated with fluoroscopy procedures
Table 21Teleradiology market for fluoroscopy, by country, 2018–2025 (USD Million)
9TELERADIOLOGY MARKET, BY END USER (Page No. - 77)
9.1Introduction
Figure 21Hospitals & clinics are the major end users of teleradiology solutions
Table 22Teleradiology market, by end user, 2018–2025 (USD Million)
9.2Hospitals & Clinics
9.2.1Large hospitals have been the early adopters of teleradiology solutions
Table 23Teleradiology market for hospitals & clinics, by country, 2018–2025 (USD Million)
9.3Diagnostic Imaging Centers & Laboratories
9.3.1Growing number of private imaging centers to support market growth
Table 24Teleradiology market for diagnostic imaging centers & laboratories, by country, 2018–2025 (USD Million)
9.4Long-Term Care Centers, Nursing Homes, & Assisted Living Facilities
9.4.1The shift of patient care from inpatient to outpatient settings is driving the growth of this end-user segment
Table 25Teleradiology market for long-term care centers, nursing homes, & assisted living facilities, by country, 2018–2025 (USD Million)
9.5Other End Users
Table 26Teleradiology market for other end users, by country, 2018–2025 (USD Million)
10TELERADIOLOGY MARKET, BY REGION (Page No. - 84)
10.1Introduction
Figure 22Geographic growth opportunities
Table 27Teleradiology market, by region, 2018–2025 (USD Million)
10.2North America
Figure 23North America: Teleradiology market snapshot
Table 28North America: Teleradiology market, by country, 2018–2025 (USD Million)
Table 29North America: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 30North America: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 31North America: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 32North America: Teleradiology market, by end user, 2018–2025 (USD Million)
10.2.1US
10.2.1.1The US dominates the North American teleradiology market
Table 33US: Macroeconomic indicators for the teleradiology market
Table 34US: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 35US: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 36US: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 37US: Teleradiology market, by end user, 2018–2025 (USD Million)
10.2.2Canada
10.2.2.1Dearth of radiologists and long wait time for scans are the major challenges in the Canadian market
Table 38Canada: Macroeconomic indicators for the teleradiology market
Table 39Canada: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 40Canada: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 41Canada: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 42Canada: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3Europe
Table 43Europe: Teleradiology market, by country, 2018–2025 (USD Million)
Table 44Europe: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 45Europe: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 46Europe: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 47Europe: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3.1Germany
10.3.1.1High healthcare spending to support the adoption of teleradiology solutions in Germany
Table 48Germany: Macroeconomic indicators for the teleradiology market
Table 49Germany: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 50Germany: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 51Germany: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 52Germany: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3.2UK
10.3.2.1Increasing government healthcare expenditure and rising adoption of teleradiology services are driving the growth of the teleradiology market in the UK
Table 53UK: Macroeconomic indicators for the teleradiology market
Table 54UK: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 55UK: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 56UK: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 57UK: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3.3France
10.3.3.1Uncertainties with regard to the pricing strategy of diagnostic companies to limit market growth in France to a certain extent
Table 58France: macRoEconomic indicators for the teleradiology market
Table 59France: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 60France: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 61France: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 62France: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3.4Italy
10.3.4.1Growing burden of several diseases and a shortage of radiologists are driving the demand for teleradiology services in Italy
Table 63Italy: Macroeconomic indicators for the teleradiology market
Table 64Italy: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 65Italy: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 66Italy: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 67Italy: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3.5Spain
10.3.5.1Growing awareness about teleradiology technologies among healthcare professionals to support market growth
Table 68Spain: Macroeconomic indicators for the teleradiology market
Table 69Spain: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 70Spain: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 71Spain: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 72Spain: Teleradiology market, by end user, 2018–2025 (USD Million)
10.3.6Rest of Europe
Table 73RoE: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 74RoE: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 75RoE: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 76RoE: Teleradiology market, by end user, 2018–2025 (USD Million)
10.4Asia Pacific
Figure 24Asia Pacific: Teleradiology market snapshot
Table 77Asia Pacific: Teleradiology market, by country, 2018–2025 (USD Million)
Table 78Asia Pacific: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 79Asia Pacific: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 80Asia Pacific: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 81Asia Pacific: Teleradiology market, by end user, 2018–2025 (USD Million)
10.4.1China
10.4.1.1Government initiatives in the form of healthcare reforms and investments to drive the growth of the teleradiology market in China
Table 82China: Macroeconomic indicators for the teleradiology market
Table 83China: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 84China: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 85China: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 86China: Teleradiology market, by end user, 2018–2025 (USD Million)
10.4.2Japan
10.4.2.1High adoption of advanced technologies in Japan to support market growth
Table 87Japan: Macroeconomic indicators for the teleradiology market
Table 88Japan: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 89Japan: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 90Japan: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 91Japan: Teleradiology market, by end user, 2018–2025 (USD Million)
10.4.3India
10.4.3.1Uncertainties in healthcare policies are expected to hamper the growth of the teleradiology market in India
Table 92India: Macroeconomic indicators for the teleradiology market
Table 93India: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 94India: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 95India: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 96India: Teleradiology market, by end user, 2018–2025 (USD Million)
10.4.4Rest of Asia Pacific (RoAPAC)
Table 97RoAPAC: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 98RoAPAC: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 99RoAPAC: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 100RoAPAC: Teleradiology market, by end user, 2018–2025 (USD Million)
10.5Latin America
Table 101Latin America: Teleradiology market, by country, 2018–2025 (USD Million
Table 102Latin America: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 103Latin America: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 104Latin America: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 105Latin America: Teleradiology market, by end user, 2018–2025 (USD Million)
10.5.1Brazil
10.5.1.1High incidence of chronic diseases to drive the demand for teleradiology services in the country
Table 106Brazil: Macroeconomic indicators for the teleradiology market
Table 107Brazil: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 108Brazil: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 109Brazil: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 110Brazil: Teleradiology market, by end user, 2018–2025 (USD Million)
10.5.2Mexico
10.5.2.1Rising adoption of digital healthcare to drive the growth of the teleradiology market in this country
Table 111Mexico: Macroeconomic indicators for the teleradiology market
Table 112Mexico: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 113Mexico: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 114Mexico: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 115Mexico: Teleradiology market, by end user, 2018–2025 (USD Million)
10.5.3Rest of Latin America
Table 116RoLA: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 117RoLA: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 118RoLA: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 119RoLA: Teleradiology market, by end user, 2018–2025 (USD Million)
10.5.4Middle East & Africa
10.5.4.1Developments in healthcare infrastructure to drive market growth
Table 120Middle East & Africa: Teleradiology market, by product & service, 2018–2025 (USD Million)
Table 121Middle East & Africa: Teleradiology software market, by type, 2018–2025 (USD Million)
Table 122Middle East & Africa: Teleradiology market, by imaging technique, 2018–2025 (USD Million)
Table 123Middle East & Africa: Teleradiology market, by end user, 2018–2025 (USD Million)
11COMPETITIVE LANDSCAPE (Page No. - 131)
11.1Overview
Figure 25Market evaluation framework: Partnerships, agreements, & collaborations were the most widely adopted strategies
11.2Competitive Leadership Mapping
11.2.1Stars
11.2.2Emerging leaders
11.2.3Pervasive
11.2.4Emerging companies
Figure 26Teleradiology market: Competitive leadership mapping, 2019
11.3Product Matrix, by Company
11.4R&D Expenditure by Key Players in the Teleradiology Market, 2018 VS. 2019 (Usd Million)
11.5Market Ranking Analysis
Figure 27Teleradiology market ranking analysis, by player, 2019
11.6Competitive Situations & Trends
11.6.1Product launches
Table 124Key product launches
11.6.2Partnerships, agreements, & collaborations
Table 125Key partnerships, agreements, & collaborations
11.6.3Acquisitions
Table 126Key acquisitions
12COMPANY PROFILES (Page No. - 138)
(Business overview, Products offered, Recent developments, Strategic Overview, SWOT analysis, MNM view)*
12.1PHILIPS HEALTHCARE
Figure 28PHILIPS HEALTHCARE: Company snapshot (2019)
12.2MEDNAX SERVICES, INC.
Figure 29MEDNAX SERVICES, INC.: Company snapshot (2018)
12.3TELERADIOLOGY SOLUTIONS
12.4CARESTREAM HEALTH, INC.
12.5ONRAD, INC.
12.6USARAD HOLDINGS, INC.
12.7CERNER CORPORATION
Figure 30CERNER CORPORATION: Company snapshot (2019)
12.8MCKESSON CORPORATION
Figure 31MCKESSON CORPORATION: Company snapshot (2019)
12.9SIEMENS HEALTHINEERS
Figure 32SIEMENS HEALTHINEERS: Company snapshot (2019)
12.10FUJIFILM HOLDINGS CORPORATION
Figure 33FUJIFILM HOLDINGS CORPORATION: Company snapshot (2019)
12.11AGFA HEALTHCARE
Figure 34AGFA HEALTHCARE: Company snapshot (2019)
12.12RAMSOFT, INC.
12.13EVERLIGHT RADIOLOGY
12.14NOVARAD CORPORATION
12.15TELEDIAGNOSTIC SOLUTIONS PVT. LTD.
12.16STATRAD LLC
12.17MEDWEB LLC
12.18NAUTILUS MEDICAL
12.19TELERAD TECH
12.20WEBRAD TELERADIOLOGY
*Business Overview, Products Offered, Recent Developments, Strategic Overview, SWOT Analysis, MNM View might not be captured in case of unlisted companies.
13APPENDIX (Page No. - 175)
13.1Insights of Industry Experts
13.2Discussion Guide
13.3Knowledge Store: MarketsandMarkets’ Subscription Portal
13.4Available Customizations
13.5Related Reports
13.6Author Details

This study involved four major activities for estimating the current size of the teleradiology market. Exhaustive secondary research was conducted to collect information on the market as well as its peer and parent markets. The next step focused on validating these findings, assumptions, and sizing with industry experts across the value chain through primary research. Revenue Share Analysis, Parent Market and top-down approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the sizes of segments and sub-segments.

Secondary Research

In the secondary research process, various secondary sources such as D&B Hoovers, Bloomberg Business, and Factiva have been referred to identify and collect information for this study. These secondary sources include annual reports, press releases and investor presentations of companies, white papers, certified publications, articles by recognized authors, gold-standard and silver-standard websites, regulatory bodies, and databases.

Primary Research

In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. Primary sources from the supply side include industry experts such as CEOs, vice presidents, marketing and sales directors, technology and innovation directors, and related key executives from various key companies operating in the teleradiology market. Primary sources from the demand side include experts from hospitals and diagnostic labs and research and academic laboratories. Primary research was conducted to validate the market segmentation, identify key players in the market, and gather insights on the key industry trends and key market dynamics, such as market drivers, restraints, challenges, and opportunities.

Teleradiology Market Size, and Share

To know about the assumptions considered for the study, download the pdf brochure

Market Size Estimation

The total size of the teleradiology market was arrived at after data triangulation from two different approaches, as mentioned below.

Approach to calculate the revenue of different players in the teleradiology market

The size of the teleradiology market was obtained from annual reports, SEC filings, online publications, and extensive primary interviews. A percentage split was applied to arrive at the size of market segments. Further splits were applied to arrive at the size for each sub-segment. These percentage splits were validated by primary participants. The country-level market sizes obtained from the annual reports, SEC filings, online publications, and extensive primary interviews were added up to reach the total market size for regions. By adding up the market sizes for all the regions, the global teleradiology market was derived.

Approach to derive the market size and estimate market growth

The market size and market growth were estimated through primary interviews on a regional and global level. All responses were collated, and a weighted average was taken to derive a probabilistic estimate of the market size and growth rate.

Data Triangulation

After arriving at the overall market size—using the market size estimation processes explained above—the market was split into several segments and sub-segments. To complete the overall market engineering process and arrive at the exact statistics of each market segment and sub-segment, the data triangulation and market breakdown procedures were employed, wherever applicable. The data was triangulated by studying various factors and trends from both the demand and supply sides.

Objectives of the Study

  • To define, describe, and forecast the teleradiology market on the basis of product and service, imaging technique, and end user
  • To provide detailed information regarding the major factors influencing the market growth (drivers, restraints, opportunities, and challenges)
  • To strategically analyze micromarkets1 with respect to the individual growth trends, future prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa, along with major countries in these regions
  • To strategically profile the key players and comprehensively analyze their market shares and core competencies2 in the teleradiology market
  • To track and analyze competitive developments such as partnerships, agreements, collaborations, acquisitions, new product developments, geographic expansions, and research and development activities in the teleradiology market

Available Customizations

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

  • Product matrix, which gives a detailed comparison of the product portfolios of the top companies

Geographic Analysis

  • Further breakdown of the RoAPAC market into South Korea, New Zealand, Australia, Singapore, and other countries
  • Further breakdown of the RoE market into Russia, the Netherlands, Switzerland, and other countries

Company Information

  • Detailed analysis and profiling of additional market players, up to five
COVID-19

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