Teleradiology Services Market Size Worth $25.9 Billion by 2025: Grand View Research, Inc.

SAN FRANCISCO, Dec. 10, 2019 /PRNewswire/ -- The global teleradiology services market size is expected to reach USD 25.9 billion by 2025, registering a CAGR of 2.3% over the forecast period, according to a new report published by Grand View Research, Inc. Shortage of radiologists in several countries has increased the adoption of teleradiology services in recent years. According to the 2017 workforce report by the Royal College of Radiologists (RCR), U.K., the National Health Service (NHS) spent USD 150 Million for outsourcing patient radiology scans due to shortage of radiologists. Moreover, several factors, such as need for after working hour coverage, lower reporting cost, and short Turn-Around-Time (TAT) have led to an increase in outsourcing of teleradiology services.

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Key suggestions from the report:

    --  In 2018, onshore segment held the largest market share of 49.0%. Factors
        such as uneven distribution of radiologists within the country, growing
        penetration of PACS and RIS, and increasing uptake of onshore
        teleradiology services by hospitals situated in rural and remote parts
        are contributing to the segment growth
    --  Mammography segment emerged as the largest segment in 2018, owing the
        growing prevalence of breast cancer coupled with shortage of skilled
        on-site radiologists to interpret mammograms
    --  Asia Pacific held the largest revenue share in 2018, due to the presence
        of number of foreign trained radiologists, and high adoption of
        teleradiology services due to even distribution of radiologists, and
        presence of prominent market players
    --  Key market players include Teleradiology Solutions; Virtual Radiologic
        Corp; Medica Group; Everlight Radiology; Telemedicine Clinic (TMC);
        USARAD Holdings Inc.; Argus Radiology; TeleDiagnosys Services Pvt. Ltd;
        ONRAD, Inc.; StatRad, LLC; Aris Radiology; and NightShift Radiology

Read 110 page research report with ToC on "Teleradiology Services Market Size, Share & Trends Analysis By Type (Inhouse, Onshore, Offshore), By Modality (CT, X-Rays, MRI, Ultrasound, PET-CT Scan, Mammography), And Segment Forecasts, 2019 - 2025'' at: https://www.grandviewresearch.com/industry-analysis/teleradiology-services-market

Growing government reforms for teleradiology are promoting adoption of teleradiology services by the hospitals and radiology centers especially in rural areas. For instance, according to an article published by the Indian Express in September 2019, the government of Maharashtra, India plans to partner with private teleradiology providers to curb the shortage of radiologists in rural areas in the state. Moreover, in recent years, the penetration of Picture Archiving & Communication Systems (PACS) and Radiology Information System (RIS) is increasing significantly in developed countries such as Italy, Germany, and U.K. The availability of PACS has facilitated the adoption of onshore as well as inhouse teleradiology services.

Recently, teleradiology service providers have increased their focus on geographical expansion to increase their market presence. For instance, in 2014, USARAD Holdings, Inc. and its consumer division SecondOpinions.com entered into a partnership with General Hospital of Ningxia Medical University. Through this partnership, SecondOpinions.com aimed to provide teleradiology and telemedicine services to the hospital. Likewise, in June 2014, SecondOpinions.com launched its telemedicine and teleradiology platform in Russia, with an aim to provide teleradiology and telemedicine services to Russian hospitals and imaging centers.

Grand View Research has segmented the global teleradiology services market based on service type, modality, and region:

    --  Teleradiology Services Type Outlook, (Revenue, USD Billion, 2014 - 2025)
        --  Inhouse
        --  Onshore
        --  Offshore
    --  Teleradiology Services Modality Type Outlook, (Revenue, USD Billion,
        2014 - 2025)
        --  CT
        --  X-ray
        --  MRI
        --  Ultrasound
        --  Mammography
        --  PET-CT
    --  Teleradiology Services Regional Outlook (Revenue, USD Million, 2014 -
        2025)
        --  North America
            --  U.S.
            --  Canada
        --  Europe
            --  U.K.
            --  Germany
            --  France
            --  Italy
            --  Spain
            --  Russia
        --  Asia Pacific
            --  China
            --  India
            --  Japan
            --  Australia
            --  Singapore
            --  South Korea
        --  Latin America
            --  Brazil
            --  Mexico
            --  Argentina
        --  Middle East and Africa (MEA)
            --  South Africa
            --  Saudi Arabia
            --  UAE
            --  Kenya
            --  Tanzania
            --  Uganda
            --  Zimbabwe
            --  Rwanda
            --  Mozambique
            --  Nigeria
            --  Ghana

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About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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SOURCE Grand View Research, Inc.