Teleradiology Services Market Overview and Introduction

Teleradiology services market was valued at over US$ 5.2 Bn in 2018 and It is anticipated to grow at a CAGR of 18.6% from 2019 to 2030.

Teleradiology is the transmission of radiological images of patients, such as x-rays, CTs, and MRIs, from one location to another over the internet for the purposes of sharing studies or interpreting results with other radiologists and physicians. Teleradiology allows radiologist’s to provide service for 24/7, additionally teleradiology helps to provide services during medical emergencies and after hours or night time service. Teleradiology also allows to interpret results of radiology images in remote areas, where radiologist are not available.

The global market is driven by the rise in incidences of chronic diseases and increasing trend of outsourcing radiology services in developed countries. However, lack of skilled professionals is anticipated to somewhat restrict the lucrative growth of the teleradiology services market during the forecast period.

Teleradiology Services Market by Type of Service and Coverage

On the basis of type of service, the teleradiology services market is segmented into general reporting, consultation, and auditing. General reporting accounted for the largest share of the market owing to continuously rising demand for time-saving and cost-effective radiograph interpretation by health care providers across the globe. Based on coverage, the teleradiology services market is segmented into daytime coverage and after hours/night time coverage. Based on coverage after hours/night time is anticipated to be the most attractive segment during the forecast period.

Teleradiology Services Market by Specialty

On the basis of specialty, the teleradiology services market is segmented into neurology, cardiology, oncology, musculoskeletal, and gastroenterology. Neurology segment is expected to hold major share due its difficulty and complexity in interpreting neurology scans, as it requires extremely specialized radiologists for evaluation.

Teleradiology Services Market by Modality

Based on modality, the teleradiology services market is segmented computed tomography (CT), x-ray, magnetic resonance imaging (MRI), ultrasound, and nuclear imaging. End users for the global market are hospitals, diagnostic imaging centers, ambulatory surgical centers, and clinics. The diagnostic imaging centers segment is likely to account for the major share of global market because diagnostic imaging centers offer all inclusive service for all imaging necessities, making it a preferred choice for patients.

Teleradiology Services Market by Region

On the basis of region, global market is segmented into North America, Europe, Asia Pacific, and Rest of World (ROW). North America dominated the market of teleradiology services, followed by Europe and Asia Pacific. North America will continue to dominate the global market in the forecast period owing to factors such as highly developed healthcare sector and rising awareness about teleradiology among diagnostic centers. However, Asia Pacific is expected to witness the highest CAGR, with the growth in this market centered at China, India, and Japan. Factors such as the rising focus of major players in emerging Asian countries and rise in number of teleradiology service providers are driving the growth of the teleradiology services market in this region.

Teleradiology Services Market Prominent Players

The prominent players in the global teleradiology services market are Envision Healthcare Corporation, MEDNAX Services, Inc., Argus Radiology, Teleradiology Solutions, USARAD Holdings, Inc., ONRAD, Inc., Teleconsult Europe, Africa Telerad Limited, American Imaging Consultants, Unilabs, 4ways Healthcare Limited and Euro American Tele Radiology among others.