Product Code: 978-1-68038-852-7
Teleradiology Market Growth & Trends
The global teleradiology market size is expected to reach USD 6.28 billion by 2030 registering a CAGR of 12.9% from 2023 to 2030, according to a new report by Grand View Research, Inc. The growing prevalence of chronic disorders, the introduction of technologically advanced diagnoses, and an increasing need for teleradiology for emergencies and second opinions are stimulating demand for teleradiology services.
The shortage of radiologists coupled with a continuously rising demand for imaging procedures is also expected to drive market growth. Although, the number of radiology equipment installed in the countries such as the U.K., U.S., and Singapore has increased over years; however, it is unable to meet the rising demand for diagnostics imaging. For instance, as per the NHS report, the average waiting time for an MRI test is reported to be 22 days in England in the year 2021.
In addition, legislative amendments made by the various governments worldwide for diagnostic imaging services will enhance the growth of this market during the forecast period. For instance, amendments in Australia's Health Insurance Act 1973 for diagnostic imaging have enabled Medicare funding for these diagnostic imaging services since March 2008. This has allowed better access to diagnostic imaging for various conditions. North America was the major regional market in 2021 and accounted for 39.09% of the global share due to the factors, such as the higher amount of funding for R&D, patient awareness levels, and cancer prevalence.
Aging is considered as the greatest risk factor for developing degenerative disorders of the joints, such as osteoporosis. Thus, the growing geriatric population, globally, is expected to be a high-impact rendering driver of the market. Osteoarthritis and osteoporosis are some of the most common disorders in the population aged over 70 years. The growing prevalence of these disorders is leading to an increase in the economic burden on many countries, thereby growing demand for teleradiology.
Teleradiology Market Report Highlights
- X-ray held the largest market share in 2022 owing to its wide applications, such as in the detection of dental injuries and fractures in bones
- Based on report type, the preliminary reports segment held the largest market share in 2022
- Based on end-use, hospitals held the largest market share in 2022, owing to large patient base, building financial capacity, and receptivity to advanced technology
- North America held the largest teleradiology market share in 2022 due to wide usage of the advanced technologies and the presence of key companies along with established healthcare infrastructure in the region
- Asia Pacific is expected to be the fastest-growing region during the forecast period due to the supportive government regulations for the expansion of teleradiology and the quick adoption of the new technologies
- Most of the manufacturing companies focus on expanding their product portfolios and entering untapped markets, such as Asia Pacific
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.1.1. Product
- 1.1.2. Report
- 1.1.3. End-use
- 1.1.4. Regional scope
- 1.1.5. Estimates and forecast timeline
- 1.2. Research Methodology
- 1.3. Information Procurement
- 1.3.1. Purchased database
- 1.3.2. GVR's internal database
- 1.3.3. Secondary sources
- 1.3.4. Primary research
- 1.3.5. Details of primary research
- 1.3.5.1. Data for primary interviews in North America
- 1.3.5.2. Data for primary interviews in Europe
- 1.3.5.3. Data for primary interviews in Asia Pacific
- 1.3.5.4. Data for primary interviews in Latin America
- 1.3.5.5. Data for Primary interviews in MEA
- 1.4. Information or Data Analysis
- 1.4.1. Data analysis models
- 1.5. Market Formulation & Validation
- 1.6. Model Details
- 1.6.1. Commodity flow analysis (Model 1)
- 1.6.1.1. Approach 1: Commodity flow approach
- 1.6.2. Volume price analysis (Model 2)
- 1.6.2.1. Approach 2: Volume price analysis
- 1.7. List of Secondary Sources
- 1.8. List of Primary Sources
- 1.9. Objectives
- 1.9.1. Objective 1
- 1.9.2. Objective 2
Chapter 2. Executive Summary
- 2.1. Market Outlook
- 2.2. Segment Outlook
- 2.2.1. Product outlook
- 2.2.2. Report outlook
- 2.2.3. End-use outlook
- 2.2.4. Regional outlook
- 2.3. Competitive Insights
Chapter 3. Teleradiology Market Variables, Trends & Scope
- 3.1. Market Lineage Outlook
- 3.1.1. Parent market outlook
- 3.1.2. Related/ancillary market outlook
- 3.2. Penetration & Growth Prospect Mapping
- 3.3. Industry Value Chain Analysis
- 3.3.1. Reimbursement framework
- 3.4. Market Dynamics
- 3.4.1. Market driver analysis
- 3.4.1.1. Increasing prevalence of target diseases
- 3.4.1.2. Introduction of technologically advanced diagnostics
- 3.4.1.3. Low costs compared to conventional office visits
- 3.4.2. Market restraint analysis
- 3.4.2.1. Lack of skilled professionals
- 3.4.2.2. Lack of security for data imaging
- 3.5. Teleradiology Market Analysis Tools
- 3.5.1. Industry Analysis - Porter's
- 3.5.1.1. Supplier power
- 3.5.1.2. Buyer power
- 3.5.1.3. Substitution threat
- 3.5.1.4. Threat of new entrant
- 3.5.1.5. Competitive rivalry
- 3.5.2. PESTEL Analysis
- 3.5.2.1. Political landscape
- 3.5.2.2. Technological landscape
- 3.5.2.3. Economic landscape
- 3.5.3. Major Deals & Strategic Alliances Analysis
- 3.5.4. Market Entry Strategies
Chapter 4. Global Teleradiology Market: Product Estimates & Trend Analysis
- 4.1. Definitions and Scope
- 4.1.1. X-ray
- 4.1.2. Ultrasound
- 4.1.3. Magnetic Resonance Imaging (MRI)
- 4.1.4. Computed Tomography (CT)
- 4.1.5. Nuclear Imaging
- 4.2. Teleradiology Market Share, 2021 & 2030
- 4.3. Segment Dashboard
- 4.4. Global Teleradiology Market by Product Outlook
- 4.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 4.5.1. X-ray
- 4.5.1.1. X-ray teleradiology market, 2018 - 2030 (USD Million)
- 4.5.2. Ultrasound
- 4.5.2.1. Ultrasound teleradiology market, 2018 - 2030 (USD Million)
- 4.5.3. Magnetic Resonance Imaging (MRI)
- 4.5.3.1. Magnetic Resonance Imaging (MRI) teleradiology market, 2018 - 2030 (USD Million)
- 4.5.4. Computed Tomography (CT)
- 4.5.4.1. Computed Tomography (CT) teleradiology market, 2018 - 2030 (USD Million)
- 4.5.5. Nuclear Imaging
- 4.5.5.1. Nuclear imaging teleradiology market, 2018 - 2030 (USD Million)
Chapter 5. Global Teleradiology Market: Report Estimates & Trend Analysis
- 5.1. Definitions and Scope
- 5.1.1. Preliminary reports
- 5.1.2. Final reports
- 5.2. Teleradiology Market Share, 2021 & 2030
- 5.3. Segment Dashboard
- 5.4. Global Teleradiology Market by Report Outlook
- 5.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 5.5.1. Preliminary reports
- 5.5.1.1. Preliminary reports market, 2018 - 2030 (USD Million)
- 5.5.2. Final reports
- 5.5.2.1. Final reports market, 2018 - 2030 (USD Million)
Chapter 6. Global Teleradiology Market: End Use Estimates & Trend Analysis
- 6.1. Definitions and Scope
- 6.1.1. Hospitals
- 6.1.2. Ambulatory Imaging Centers
- 6.1.3. Radiology Clinics
- 6.2. Teleradiology Market Share, 2021 & 2030
- 6.3. Segment Dashboard
- 6.4. Global Teleradiology Market by End Use Outlook
- 6.5. Market Size & Forecasts and Trend Analyses, 2018 to 2030 for the following
- 6.5.1. Hospitals
- 6.5.1.1. Hospitals teleradiology market, 2018 - 2030 (USD Million)
- 6.5.2. Ambulatory Imaging Center
- 6.5.2.1. Ambulatory Imaging Center teleradiology market, 2018 - 2030 (USD Million)
- 6.5.3. Radiology Clinic
- 6.5.3.1. Radiology clinic teleradiology market, 2018 - 2030 (USD Million)
Chapter 7. Global Teleradiology Market: Regional Estimates & Trend Analysis
- 7.1. Regional market share analysis, 2021 & 2030
- 7.2. Regional Market Dashboard
- 7.3. Global Regional Market Snapshot
- 7.4. Regional Market Share and Leading Players, 2021
- 7.4.1. North America
- 7.4.2. Europe
- 7.4.3. Asia Pacific
- 7.4.4. Latin America
- 7.4.5. Middle East and Africa
- 7.5. SWOT Analysis, by Factor (Political & Legal, Economic and Technological)
- 7.5.1. North America
- 7.5.2. Europe
- 7.5.3. Asia Pacific
- 7.5.4. Latin America
- 7.5.5. Middle East and Africa
- 7.6. Market Size, & Forecasts, Volume and Trend Analysis, 2021 to 2030:
- 7.7. North America
- 7.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.7.2. U.S.
- 7.7.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.7.3. Canada
- 7.7.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8. Europe
- 7.8.1. UK
- 7.8.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.2. Germany
- 7.8.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.3. France
- 7.8.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.4. Italy
- 7.8.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.5. Spain
- 7.8.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.6. Russia
- 7.8.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.7. Switzerland
- 7.8.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.8. The Netherland
- 7.8.8.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.9. Sweden
- 7.8.9.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.8.10. Belgium
- 7.8.10.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9. Asia Pacific
- 7.9.1. Japan
- 7.9.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.2. China
- 7.9.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.3. India
- 7.9.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.4. Thailand
- 7.9.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.5. Singapore
- 7.9.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.6. Australia
- 7.9.6.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.7. Taiwan
- 7.9.7.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.8. Indonesia
- 7.9.8.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.9. Malaysia
- 7.9.9.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.9.10. South Korea
- 7.9.10.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10. Latin America
- 7.10.1. Brazil
- 7.10.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10.2. Mexico
- 7.10.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10.3. Argentina
- 7.10.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10.4. Colombia
- 7.10.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.10.5. Chile
- 7.10.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11. MEA
- 7.11.1. South Africa
- 7.11.1.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.2. Saudi Arabia
- 7.11.2.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.3. UAE
- 7.11.3.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.4. Kuwait
- 7.11.4.1. Market estimates and forecast, 2018 - 2030 (USD Million)
- 7.11.5. Israel
- 7.11.5.1. Market estimates and forecast, 2018 - 2030 (USD Million)
Chapter 8. Competitive Landscape
- 8.1. Recent Developments & Impact Analysis, By Key Market Participants
- 8.2. Company/Competition Categorization
- 8.3. Vendor Landscape
- 8.3.1. List of key distributors and channel partners
- 8.3.2. Key customers
- 8.3.3. Key company market share analysis, 2021
- 8.3.4. Virtual Radiologic (vRad)
- 8.3.4.1. Company overview
- 8.3.4.2. Financial performance
- 8.3.4.3. Product benchmarking
- 8.3.4.4. Strategic initiatives
- 8.3.5. Agfa-Gevaert Group
- 8.3.5.1. Company overview
- 8.3.5.2. Financial performance
- 8.3.5.3. Product benchmarking
- 8.3.5.4. Strategic initiatives
- 8.3.6. ONRAD, Inc.
- 8.3.6.1. Company overview
- 8.3.6.2. Financial performance
- 8.3.6.3. Product benchmarking
- 8.3.6.4. Strategic initiatives
- 8.3.7. Everlight Radiology
- 8.3.7.1. Company overview
- 8.3.7.2. Financial performance
- 8.3.7.3. Product benchmarking
- 8.3.7.4. Strategic initiatives
- 8.3.8. 4ways Healthcare Ltd.
- 8.3.8.1. Company overview
- 8.3.8.2. Financial performance
- 8.3.8.3. Product benchmarking
- 8.3.8.4. Strategic initiatives
- 8.3.9. RamSoft, Inc.
- 8.3.9.1. Company overview
- 8.3.9.2. Financial performance
- 8.3.9.3. Product benchmarking
- 8.3.9.4. Strategic initiatives
- 8.3.10. USARAD Holdings, Inc.
- 8.3.10.1. Company overview
- 8.3.10.2. Financial performance
- 8.3.10.3. Product benchmarking
- 8.3.10.4. Strategic initiatives
- 8.3.11. Koninklijke Philips N.V.
- 8.3.11.1. Company overview
- 8.3.11.2. Financial performance
- 8.3.11.3. Product benchmarking
- 8.3.11.4. Strategic initiatives
- 8.3.12. Matrix (Teleradiology Division of Radiology Partners)
- 8.3.12.1. Company overview
- 8.3.12.2. Financial performance
- 8.3.12.3. Product benchmarking
- 8.3.12.4. Strategic initiatives
- 8.3.13. Medica Group PLC.
- 8.3.13.1. Company overview
- 8.3.13.2. Financial performance
- 8.3.13.3. Product benchmarking
- 8.3.13.4. Strategic initiatives
- 8.3.14. 5C Network
- 8.3.14.1. Company overview
- 8.3.14.2. Financial performance
- 8.3.14.3. Product benchmarking
- 8.3.14.4. Strategic initiatives