Global Teleradiology Market: Trend Analysis and Forecast to 2022
Teleradiology is the ability to obtain radiological patient images such as, X-rays, MRI’s, and CT’s in one location and their transmission over a distance so that they can be viewed and interpreted for diagnostic or consultative purpose by a radiologist or physician.
Teleradiology market- % by region, 2015
Figure : Teleradiology market- % by region, 2015
Teleradiology is the ability to obtain radiological patient images such as, X-rays, MRI’s, and CT’s in one location and their transmission over a distance so that they can be viewed and interpreted for diagnostic or consultative purpose by a radiologist or physician. Teleradiology is a cost effective and time saving tool for analyzing and treating patients during critical emergency situations, as a result physicians and radiologists have started adopting Teleradiology services due to advanced information and communication tools. In 2014, the global Teleradiology market size was valued over USD 1.4 billion, while in 2015, the value of global Teleradiology market surpassed USD xxxx.x million. The global teleradiology market is projected to grow with a CAGR x.x% during 2016-2022 and exceed USD 3.60 billion by 2022.
The global Teleradiology market is driven by factors such as advancements in digital technology, growth in healthcare expenditure, as well as growing R&D activities with favorable regulations pertaining to e-Health. The global Teleradiology market restrained by unfavorable regulations for R&D activities, lack of imaging data security as all the data is transmitted over internet, high cost of technology and shortage of skilled radiologist and technicians. Rapidly growing highly developed healthcare infrastructure, improved internet facilities, rising demand for technical advancement and highly innovative medical platforms as well as implementation of cloud computing in Teleradiology are considered as key opportunities for increasing usage rate of Teleradiology tools.
The report segments the global Teleradiology market by product type and region. Market segmentation on the basis of product type includes Computer tomography, X-ray, Ultrasound, Magnetic Resonance Imaging and Nuclear imaging. Till 2015, the X-ray segment dominated the Teleradiology market due to increasing number of X-rays and its wide acceptability. Computer tomography (CT’s) remains one of the fastest growing market segment due to its ability to scan and examine complex body organs such as brain, lungs etc. However, CT scanners market is anticipate to be the fastest growing product segment during 2016-2022.
Geographic Coverage and Analysis:
The report provides regional analysis covering geographies such as North America, Europe, Asia Pacific, and Rest of the World (RoW). North America is the highest revenue generating region maintaining its dominance over the forecast period. Improved technology, rising awareness about breast cancer, increased internet speed and facilities are expected to be key factors driving the growth of this region for the forecasted period. The Asia – pacific region is anticipated to provide significant opportunities for the leading players in the Teleradiology market due to rapidly developing healthcare infrastructure and rising demand of innovative and advanced radiological images for treating and consulting patients. Europe held over 50% of the market share owing to the technological advancements such as upgrading radiology information systems, picture archiving and communication systems, and increase in cloud computing Teleradiology services in the region.
The report also provides companies profiles of key players in the worldwide global Teleradiology market such as
4ways Healthcare Limited
Health Watch Tele Diagnostics Pvt. Ltd
Cybernet Medical Corporation
The report provides deep insights on demand forecasts, market trends and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the demand of Teleradiology globally as well as regionally. Moreover, IGR-Growth Matrix analysis given in the report brings an insight on the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter’s five forces analysis and value chain analysis of Teleradiology market. Moreover, the study highlights current market trends and provides forecast from 2016 to 2022. We also have highlighted future trends in the Teleradiology market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight on the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market.
The report also provides in depth analysis of regulatory framework pertaining to Teleradiolog Market. This will help the companies to understand the regulatory compliances, supports, barriers in the Teleradiology market. This section highlights key amendments and their implication on Teleradiology market in the short run as well as in the long run.This report will help manufacturers, suppliers and distributors of the Teleradiology products to understand the present and future trends in this market and formulate their strategies accordingly.