Global Teleradiology Services Market 2020 (Includes Business Impact of COVID-19)

                                          
Recent report tracked by the research team at Trusted Business Insights, titled – “Global Teleradiology Services Market Insights, Growth Rate, Revenues, Product Types, End Users, Trends, Global Forecast: 2020 – 2029” focuses on drivers and restraints, revenue opportunities and key trends in the global teleradiology services market. It also includes profiles of teleradiology service providers, company revenue, key developments, future plans and strategies, mergers and acquisitions, etc. The global teleradiology services market report is segmented on the basis of type, modality, technology, end user, and region/ country.

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Teleradiology Services: Overview

Teleradiology refers to transmission of images obtained from radiology tests such as CT scans, MRIs, X-rays from one destination to another in order to offer faster services to diagnostic centers and hospitals in emergencies. Teleradiology also helps to systemize and reduce workload occurring due to huge volumes of radiology scans. This service can prove to be of great importance as it allows healthcare professionals to share and communicate about a case and to gain second opinion by expertise, which further helps healthcare providers to offer best treatment to patients.

Drivers, Restraints, and Trends: Global Teleradiology Services Market

Increasing initiatives by the government of various countries for teleradiology is a major factor expected to drive growth of the global market to a significant extent. In September 2019, for instance, as per a published news article, the Maharashtra State government, India announced that they plan to partner with teleradiology providers in order to overcome the issue of radiologist shortage, particularly in rural and remote areas of Maharashtra. In addition, in 2017 for instance, Saudi Arabia-based Al-Ahsa Health Affairs implemented a project in order to offer efficient radiology services and to overcome concerns related to dearth of radiologists. Increasing global prevalence of various chronic diseases and disorders such as liver disorders, brain injuries, and types of cancer has led to increasing requirement for devices such as medical imaging, CT scan, etc. Increasing penetration of technologically advanced software such as Radiology Information Systems and Picture Archiving and Communication System, especially in developed countries including the UK, Italy, and Germany, is projected to support growth of the target market. Improving healthcare-IT infrastructure, adoption of cloud-based services, and availability of high bandwidth Internet connectivity are primary factors expected to support growth of the target market.

However, dearth of skilled radiologists in order to meet ever-increasing patient needs is a major issue among the hospitals as well as imaging centers. This is a major factor that could hamper growth of the global teleradiology services market.

Segment Analysis: Global Teleradiology Services Market

Analysis, by End User:

The hospital segment and ambulatory surgical centers segment are expected to record higher revenue shares in the global teleradiology services market. The hospital segment’s contribution is due to higher number of patient footfalls in hospitals as compared to diagnostic centers, clinics, and other healthcare setup.

Region Analysis: Global Teleradiology Services Market

The Asia Pacific teleradiology market is expected to dominate in the global market with highest revenue contribution of more than 35%. Major factors driving Asia Pacific market growth include strong presence of teleradiology service providers, particularly in Australia and India in the region, availability of skilled and well-trained professionals or radiologists, and higher adoption of these services in the region. For instance, in countries such as Japan, on an average, one radiologist is handling more than one imaging device. Thus, the huge gap or uneven ratio of imaging devices and radiologists is expected to lead to higher adoption of outsource of teleradiology services such as onshore and offshore. The Middle East and Africa market is projected to register moderately higher CAGR over the 10-year forecast period. Steadily increasing adoption of these services by hospitals in the countries in the region including UAE, Kenya, Saudi Arabia, among others is a major factor driving Middle East & Africa teleradiology services market. Growing healthcare industry, allowance of 100% FDI and other government initiatives, and improving healthcare-IT infrastructure for teleradiology are among major factors projected to drive market growth in this region. In 2017 for instance, Kenya- based St. Francis Community Hospital started using teleradiology in order to enable cost-saving and reduce patients’ wait-time for X-ray and CT scans. The markets in North America and Europe are projected to contribute significantly higher revenue shares in the global market, due to presence of larger number of radiologists, and higher number of patient footfalls in hospitals in the regions.

Global Teleradiology Services Market Segmentation:

Segmentation by Type:

Inhouse
Onshore
Offshore

Segmentation by Modality:

CT
X-ray
MRI
Ultrasound
Mammography
PET-CT

Segmentation by Technology:

Hardware
Software
Picture Archiving and Communication System (PACS)
Radiology Information System (RIS)
Telecom & Networking
Web-Based Teleradiology Solutions
Cloud-Based Teleradiology Solutions

Segmentation by End User:

Hospitals
Ambulatory Surgical Centers
Diagnostic Centers
Others