Teleradiology Services Market Size Worth USD 32.34 Billion by 2027 | CAGR of 23.7%: Emergen Research

VANCOUVER, B.C., Sept. 22, 2020 /PRNewswire/ -- The Global Teleradiology Services Market is expected to reach USD 32.34 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed to favorable government initiatives regarding the adoption of teleradiology in order to provide early disease diagnosis. Besides, the application of modern-day technologies such as the adoption of cloud-based technologies, blockchain, and cryptocurrencies will lead to better efficiency and cost-effective solutions. Increasing Investments for the development of advanced solutions is augmenting the demand for the industry.

The pandemic has disrupted the supply chain and raw material supplies, but it has increased the demand for the product in the healthcare industry. Due to the pandemic, healthcare workers are under tremendous pressure, so they are seeking the help of the teleradiology services in order to analyze reports and diagnose the patients. Besides, the technology also helps to increase the efficiency of the imaging devices and reduces manual errors. The pandemic has led to the increased usage of telehealth and teleradiology. The issues of internet bandwidth in rural areas and less awareness among rural people regarding the authenticity of teleradiology services might hinder the market growth.

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Key Highlights From The Report

    --  The hospitals & clinics segment dominated the market with a share of
        54.6% in 2019 due to the growing adoption of teleradiology services by
        hospitals & clinics. Due to the pandemic, there is a shortage of
        radiologists, which has led to the increasing adoption of diagnostic
        imaging procedures in order to maintain workflow and increase
    --  The software segment is expected to experience the highest CAGR over the
        forecast period due to the growing demand for healthcare software to
        increase data transparency and improve patient outcomes.
    --  North America has the highest adoption rate in the market over the
        forecast period due to the presence of a technologically advanced
        healthcare structure.
    --  Asia Pacific is expected to register the highest CAGR over the forecast
        period due to the increasing initiatives of the government to modernize
        the healthcare infrastructure and growing investments in R&D for the
        production of advanced solutions.
    --  Key participants include Philips Healthcare, Teleradiology Solutions,
        USRAD Holdings, Inc., Everlight Radiology, MEDNAX, Inc., ONRAD, Inc.,
        AGFA Healthcare, RAMSOFT, Inc., Telediagnostic Solutions PVT. LTD., and
        CARESTREAM HEALTH, Inc., among others.

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Emergen Research has segmented the Global Teleradiology Services Market on the basis of imaging technique, end-users, products and services, and region:

Imaging Technique Outlook (Revenue, USD Billion; 2017-2027)

    --  Magnetic resonance imaging (MRI)
    --  Computed tomography (CT)
    --  X-Rays
    --  Ultrasound
    --  Mammography
    --  Others

End-Users Outlook (Revenue, USD Billion; 2017-2027)

    --  Diagnostic Centers
    --  Hospitals & Clinics
    --  Others

Products and Services Outlook (Revenue, USD Billion; 2017-2027)

    --  Software
    --  Hardware
    --  Teleradiology services

Regional Outlook (Revenue, USD Billion; 2017-2027)

    --  North America
        --  U.S.
        --  Canada
    --  Europe
        --  Germany
        --  U.K.
        --  France
        --  Benelux
        --  Rest of Europe
    --  Asia Pacific
        --  China
        --  Japan
        --  South Korea
        --  Rest of APAC
    --  Latin America
        --  Brazil
        --  Rest of LATAM
    --  Middle East & Africa
        --  Saudi Arabia
        --  UAE
        --  Rest of MEA

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