Global Teleradiology Market Share to exhibit 14% CAGR during 2020-2027

Market Study Report LLC recently added a new title on 2020-2027 Global Teleradiology Market Report from its database. The report provides study with in-depth overview, describing about the Product, Size, Share, and Industry Scope and elaborates market outlook and status to 2027. Global Teleradiology market accounted for USD 3.6 billion in the year 2019 and is projected to register a robust CAGR of 14% during 2020-2027.

Factors such as mounting costs of on-site radiologists, increasing adoption of teleradiology services across healthcare facilities for enhanced patient care, and rising prevalence of chronic ailments such as congestive heart failure as well as breast cancer are augmenting the growth of global teleradiology market.

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For the record, teleradiology is a branch of telemedicine that includes the transmission of radiological images including MRIs and X-rays from one to another for efficiently sharing studies with other physicians and radiologists.

Additionally, escalating demand for diagnostic services, favorable government initiatives towards providing end-to-end protection against cybercrimes, and growing geriatric population are positively swaying the global teleradiology market dynamics.

Furthermore, increasing number of Coronavirus cases along with surging demand for soft copies of imaging results amidst the pandemic is further fostering the market growth. However, lack of skilled radiologists in consort with limited availability of broadband networks are expected to impede the industry expansion throughout the analysis timeframe.

Alternatively, Asia-Pacific teleradiology market is projected to register the highest CAGR over 2020-2027. Flourishing healthcare infrastructure coupled with surging demand for imaging procedures are facilitating the business scenario in Asia-Pacific.

Leading players that define the global teleradiology industry trends are FUJIFILM Medical Systems U.S.A. Inc., Radisphere National Radiology Group Inc., Agfa-Gevaert N.V., Everlight Radiology, TeleDiagnostic Solutions Pvt. Ltd., ONRAD Inc., MEDNAX Inc., Global Diagnostics Limited, Teleradiology Solutions (TRS), and Siemens AG among others.

Based on imaging techniques, global teleradiology industry is divided into mammography, fluoroscopy, nuclear imaging, magnetic resonance imaging (MRI), ultrasounds, computed tomography (CT), X-ray, and others.

With regards to technology, the market is fragmented into telecom & networking, software, and hardware. The end-user landscape of the industry comprises of diagnostic centers, ambulatory surgical centers, hospitals, and others.

From a regional point of view, North America currently holds a significant share in global teleradiology market and is predicted to record substantial expansion through 2027. High concentration of industry players, increasing prevalence of chronic diseases, and favorable government initiatives are propelling the growth of the regional market.

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