Teleradiology Services Market is expected to surpass US$ 5,598.3 Million and grow at 19% CAGR through 2032

In 2022, it is expected that the Teleradiology Services Market would be worth around US$ 31,880.57 Mn. By 2032, it is anticipated that the market for teleradiology services would reach US$5,598.3 Mn. with a 19% CAGR growth forecast through 2032.

The global Teleradiology Services Market is estimated to reach a market valuation of US$ 1,971.4 Mn by the end of 2016 and register a CAGR of 21.0% over the forecast period (2016–2026). The growth of this market can be attributed to the 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.

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The report presents a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better view of the competitive landscape. It also provides details about the organic and inorganic business approaches undertaken by the key companies in the Teleradiology Services market to offer a holistic overview of the business landscape to the reader. It further covers all the relevant aspects of the market to help readers capitalize on the emerging growth opportunities and gain maximum returns on the investments.

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 the hospitals & Clinics. Due to the pandemic, there is a shortage of radiologists, which have led to the increasing adoption of diagnostic imaging procedures in order to maintain workflow and increase efficiency.
• 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.
• 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 on the R & D for the production of advanced solutions.

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• 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.

Market segmentation:

By Process Type:

• Certified Reporting Services Process
• Preliminary Reporting

By Service Type:

• Emergency Nighthawk
• Day Time Coverage
• Subspecialty Reading
  • Cardiac imaging
  • Neuroradiology
  • Nuclear scans
  • Musculoskeletal studies
• Second Opinion
• Clinical Trails

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By Modality:

• X-Ray Scans
• Computerised Tomograph (CT) Scans
• MRI Scans
• Ultrasound Scans
• Nuclear Scans
• Cardiac Echo
• Mammography
• Electromammography

By End User:

• Hospital Pharmacies
• Clinics
• Ambulatory Surgical Centres
• Radiology Centres

By Region:

• US
• OUS (International)
  • Latin America
  • EU5
  • Rest of Europe
  • Japan
  • Asia Pacific Excluding Japan
  • Rest of the World

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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