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Teleradiology Services Market Global Trends, Market Share, Industry Size, Growth, Opportunities, and Market Forecast 2019to 2026

Press release   •   Sep 25, 2019 15:04 BST

The global teleradiology service market is projected to value over US$ 9 billion by the end of 2026 and expand at a CAGR of over 18.2% during the forecast period of 2019-2026.

Teleradiology is the practice of medical images being interpreted by a radiologist indifferent of the proximity. These interpretations help in assured and accurate diagnosis of diseases and thus speed up their treatment. In addition to this, teleradiology allows stocking of digital images through various software like the picture archiving and communication system (PACS) software. This technology is employed in emergency clinics, large scale hospitals, and mobile imaging companies. Teleradiology delivers immediate results and solutions with remote access through global network and real-time interpretation. It calls for combined effort and sharing of knowledge in order to facilitate efficient treatment of diseases.
The teleradiology technology fuels on the awareness of the importance of early diagnosis. Along with this, the employment of teleradiology into health care services has increased the popularity and efficiency of the services. All these factors led to the robust development of teleradiology services in the global market. Teleradiology Services markets in North America and Europe account for the major share in the global market due to the acceptance of such services and technology by the general public as well as end-users. The Asia Pacific region has proven to emerge as one of the most lucrative markets for these services. This can be accounted to their fluctuating erratic climate leading to a rise in chronic ailments. These regions are more susceptible to serious illnesses given their climate as well as the extensive population growth. The large population invites a lot of health threats inevitably as well as the geriatric population is more prone and exposed to the hazards. All of these thus fuel demand for the same market is that of teleradiology. Latin America and the rest of the world are extremely unexplored and untapped markets in the sphere of teleradiology services and once ventured into can be found extremely profitable. To further expand trade, government initiatives, assistance and subsidies can provide major help. This can be along the lines of the provision of experts in the field or training of more personnel in the required domains and funding machinery.

Global Teleradiology Services Market: Restraints > Continued shortage of experts and radiologists
> Unavailability of broadband network required for operation
> Complex machinery and expensive infrastructure

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Global Teleradiology Services Market: Segmentation
By Service Type
> X-ray> Computed Tomography> Ultrasound> Nuclear Imaging> Magnetic Resonance Imaging
The X-ray segment was dominant in 2019 and had a revenue share of over USD $800 million. Various applications require it to be extensively used, while on the other hand, continuous technological improvements will fuel the market growth of CT scan. The (CT) segment is predicted to register the fastest growth during the forecast period. Digitalization will further support the growth of this segment. To draw an elaborate reference, in March 2019, Siemens Healthineers, in collaboration with GE Healthcare, launched a Go platform cardiac CT scanner. However, the nuclear imaging segment is anticipated to grow at the fastest rate during the forecast period. By End User> Hospitals> Diagnostics Laboratories> Clinics> Outpatient Centres
The segment of diagnostic laboratories recorded major share in 2017, accounting 30.0% of total revenue. This segment proofs as a one-stop solution for all required requirements thus is preferred by patients. Thus the segment is supposed to experience a business boost during the period of 2019 to 2026. The hospitals segment is anticipated to expand at a higher CAGR than other segments during the forecast period due to quick service, high-quality, and competitive pricing.

By Region> Europe > North America> APAC > Latin America> Rest of World
According to revenue statistics, North America held largest market share in 2019 and is likely to continue to do so in the global teleradiology services market during the forecast period. The teleradiology services market in the Asia Pacific segment is expected to attain a significant CAGR during the forecast period. Supportive government subsidies and initiatives, global trade expansion strategies undertaken by major firms, and targeting rising population in regions are also expected to fuel the growth.

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Competitive Landscape: > Tier 1 players- established companies in the market with a major market share > Tier 2 players > Emerging players which are growing rapidly > New Entrants
Major firms ruling the market are Envision Healthcare Corporation, MEDNAX Services, Inc., 4ways Healthcare Limited, Euro American Tele Radiology, Argus Radiology, Teleradiology Solutions, American Imaging Consultants, USARAD Holdings, Inc., ONRAD, Inc., Teleconsult Europe, Africa Telerad Limited, and Unilabs.
These shareholders have adopted strategies such as inorganic growth through partnerships, collaboration, and expansion. For reference, November 13, 2017, Unilabs acquired Telemedicine Clinic (“TMC”), a leading provider of teleradiology and telepathology services in Europe. This acquisition thus accelerated the adoption of digital processes in radiology and pathology, which will enable the company to offer more sub-specialist reporting from top experts in their field to end-users.FutureWise Takeaways > Growth prospects > SWOT analysis > Key trends > Key data-points affecting market growth Objectives of the Study:> To provide with an exhaustive analysis on global teleradiology service market by service type, end-user and region > To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)> To evaluate and forecast micro-markets and the overall market > To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Latin America, and the Middle East > To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions > Profiling of companies to evaluate their market shares, strategies, financials and core competencies

Table of Contents

1. Introduction

1.1. Scope and Objective

1.2. Assumptions and Acronyms

1.3. Forecast Factors

1.4. Research Methodology

2. Executive Summary

2.1. Industry Cluster Analysis

2.2. Competition Matrix

2.3. Strategies Recommendations

3. Market Definition

3.1. Report Scope (Inclusions & Exclusions)

3.2. Market Segmentation

4. Global Teleradiology Services Market Overview

4.1. Global Teleradiology Services Market Revenue (USD Mn)

5. Key Inclusions

5.1. Porter’s Five Force analysis

5.2. Market Dynamics

5.3. Industry Trends

5.4. Regulatory Guidelines

5.5. Opportunities in Teleradiology Services

6. Competition Dynamics

6.1. Company Share Analysis (2018)

6.2. Top 10 Product Pricing by Region

7. Global Teleradiology Services Market Revenue (USD Mn), 2018-2026 by Service Type

7.1. Key Market Findings

7.2. Long Term ROI Segments

7.3. Revenue Opportunity Influencing Factors

7.4. Market Revenue (USD Mn) Assessment and Forecast by Service Type, 2018-2026

7.4.1 X-ray

7.4.2 Computed Tomography

7.4.3 Ultrasound

7.4.4 Nuclear Imaging

7.4.5 Magnetic Resonance Imaging

8. Global Teleradiology Services Market Revenue (USD Mn), 2018-2026 by End User

8.1. Key Market Findings

8.2. Long Term ROI Segments

8.3. Revenue Opportunity Influencing Factors

8.4. Market Revenue (USD Mn) Assessment and Forecast by End User, 2018-2026

8.4.1 Hospitals

8.4.2 Diagnostics Laboratories

8.4.3 Clinics

8.4.4 Outpatient Centres

9. Global Teleradiology Services Market Revenue (USD Mn), 2018-2026 by Region

9.1. Key Market Findings

9.2. Long Term ROI Segments

9.3. Revenue Opportunity Influencing Factors

9.4. Market Revenue (USD Mn) Assessment and Forecast by Region,2026

9.4.1 North America

9.4.2 Latin America

9.4.3 Europe

9.4.4 Asia Pacific

9.4.5 Rest of world

10. North America Teleradiology Services Market Revenue (US$ Mn), 2018-2026

10.1. Key Market Findings

10.2. Long Term ROI Segments

10.3. Revenue Opportunity Influencing Factors

10.4. Market Revenue (USD Mn) Assessment and Forecast by Country, 2018-2026

10.4.1 US

10.4.2 Canada

10.5. Market Revenue (USD Mn) Assessment and Forecast by Service Type, 2018-2026

10.5.3 X-ray

10.5.4 Computed Tomography

10.5.5 Ultrasound

10.5.6 Nuclear Imaging

10.5.7 Magnetic Resonance Imaging

10.6. Market Revenue (USD Mn) Assessment and Forecast by End User, 2018-2026

10.6.8 Hospitals

10.6.9 Diagnostics Laboratories

10.6.10 Clinics

10.6.11 Outpatient Centres

11. Latin America Teleradiology Services Market Revenue (US$ Mn), 2018-2026

11.1. Key Market Findings

11.2. Long Term ROI Segments

11.3. Revenue Opportunity Influencing Factors

11.4. Market Revenue (USD Mn) Assessment and Forecast by Country, 2018-2026

11.4.1 Brazil

11.4.2 Mexico

11.4.3 Argentina

11.4.4 Rest of Latin America

11.5. Market Revenue (USD Mn) Assessment and Forecast by Service Type, 2018-2026

11.5.5 X-ray

11.5.6 Computed Tomography

11.5.7 Ultrasound

11.5.8 Nuclear Imaging

11.5.9 Magnetic Resonance Imaging

11.6. Market Revenue (USD Mn) Assessment and Forecast by End User, 2018-2026

11.6.10 Hospitals

11.6.11 Diagnostics Laboratories

11.6.12 Clinics

11.6.13 Outpatient Centres

12. Europe America Teleradiology Services Market Revenue (US$ Mn), 2018-2026

12.1. Key Market Findings

12.2. Long Term ROI Segments

12.3. Revenue Opportunity Influencing Factors

12.4. Market Revenue (USD Mn) Assessment and Forecast by Country, 2018-2026

12.4.1 Germany

12.4.2 France

12.4.3 Spain

12.4.4 UK

12.4.5 Russia

12.4.6 Poland

12.4.7 Rest of Europe

12.5. Market Revenue (USD Mn) Assessment and Forecast by Service Type, 2018-2026

12.5.8 X-ray

12.5.9 Computed Tomography

12.5.10 Ultrasound

12.5.11 Nuclear Imaging

12.5.12 Magnetic Resonance Imaging

12.6. Market Revenue (USD Mn) Assessment and Forecast by End User, 2018-2026

12.6.13 Hospitals

12.6.14 Diagnostics Laboratories

12.6.15 Clinics

12.6.16 Outpatient Centres

13. Asia Pacific America Teleradiology Services Market Revenue (US$ Mn), 2018-2026

13.1. Key Market Findings

13.2. Long Term ROI Segments

13.3. Revenue Opportunity Influencing Factors

13.4. Market Revenue (USD Mn) Assessment and Forecast by Country, 2018-2026

13.4.1 Emerging Asia

13.4.1.1 China

13.4.1.2 India

13.4.1.3 ASEAN-5

13.4.1.4 Rest of Emerging Asia

13.4.2 Japan

13.5. Market Revenue (USD Mn) Assessment and Forecast by Service Type, 2018-2026

13.5.3 X-ray

13.5.4 Computed Tomography

13.5.5 Ultrasound

13.5.6 Nuclear Imaging

13.5.7 Magnetic Resonance Imaging

13.6. Market Revenue (USD Mn) Assessment and Forecast by End User, 2018-2026

13.6.8 Hospitals

13.6.9 Diagnostics Laboratories

13.6.10 Clinics

13.6.11 Outpatient Centres

14. Rest of World America Teleradiology Services Market Revenue (US$ Mn), 2018-2026

14.1. Key Market Findings

14.2. Long Term ROI Segments

14.3. Revenue Opportunity Influencing Factors

14.4. Market Revenue (USD Mn) Assessment and Forecast by Country, 2018-2026

14.4.1 Middle East

14.4.2 South Africa

14.4.3 North Africa

14.4.4 Rest of World

14.5. Market Revenue (USD Mn) Assessment and Forecast by Service Type, 2018-2026

14.5.5 X-ray

14.5.6 Computed Tomography

14.5.7 Ultrasound

14.5.8 Nuclear Imaging

14.5.9 Magnetic Resonance Imaging

14.6. Market Revenue (USD Mn) Assessment and Forecast by End User, 2018-2026

14.6.10 Hospitals

14.6.11 Diagnostics Laboratories

14.6.12 Clinics

14.6.13 Outpatient Centres

15. Company Profiles

15.1. Competition Landscape

15.2. Global Company Share (USD Mn) Overview, 2018

15.3. Company Profiles

15.3.1 Virtual Radiologic

15.3.1.1 Corporate Overview

15.3.1.2 Financial Performance

15.3.1.3 Peer Comparison & 3C marketing equation

15.3.1.4 Company Strategy & Channel Management

15.3.2 Teleradiology Solutions

15.3.2.1 Corporate Overview

15.3.2.2 Financial Performance

15.3.2.3 Peer Comparison & 3C marketing equation

15.3.2.4 Company Strategy & Channel Management

15.3.3 Future Teleradiology Solution

15.3.3.1 Corporate Overview

15.3.3.2 Financial Performance

15.3.3.3 Peer Comparison & 3C marketing equation

15.3.3.4 Company Strategy & Channel Management

15.3.4 All-American Teleradiology

15.3.4.1 Corporate Overview

15.3.4.2 Financial Performance

15.3.4.3 Peer Comparison & 3C marketing equation

15.3.4.4 Company Strategy & Channel Management

15.3.5 Sectra AB

15.3.5.1 Corporate Overview

15.3.5.2 Financial Performance

15.3.5.3 Peer Comparison & 3C marketing equation

15.3.5.4 Company Strategy & Channel Management

16. Research Sources & Primary Verbatim

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