Zion Market Research has published a new report titled “Teleradiology Market by Category and Modality Type (X-ray, CT, MRI, Ultrasound, Nuclear Medicine and Fluoroscopy) and Region: Global Industry Perspective, Comprehensive Analysis and Forecast, 2016 - 2022”.

According to the report, global teleradiology market was valued at approximately USD 1.91 billion in 2016 and is expected to generate revenue of around USD 4.75 billion by end of 2022, growing at a CAGR of around 16.5% between 2017 and 2022. Teleradiology is the technique that enables to obtain images in one location, transmit them over a distance, and view them remotely for diagnostic or consultative purposes using

electronic transmission devices. Teleradiology allows more timely interpretation of radiologic images in case of emergency, shortage or unavailability of the radiologist. Users at different locations can view images simultaneously. Teleradiology allows radiologic consultation without on-site radiologic support. Teleradiology is of prime importance in diagnosis, consultation and education of students, doctors and paramedical staff, scientific research, administration, management, planning and improvement of public health.
Global teleradiology market is primarily driven by technological advancements in teleradiology across the globe. Other major driving factors are an increase in healthcare expenditure and rising geriatric population base with increased prevalence of chronic disorders. However, high technology coupled with a possible shortage of skilled radiologists and technicians are the major restraints that may limit the growth of the market. Nonetheless, high penetration rates of smartphones and internet coupled with increased healthcare awareness among patients across the globe are likely to disclose the new avenues for teleradiology market in the near future.

The teleradiology market is segmented on the basis of category type as hardware, software and telecom and networking. Software segment is expected to grow at the fastest rate during the forecast period. Based on modality type, the market is segmented into X-ray, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, nuclear imaging, and fluoroscopy.

North America represents developed regional markets for teleradiology and is expected to see the rapid growth in the years to come. The U.S. is by far the leading teleradiology market by country in North America. The U.S. market is expected to grow at the highest CAGR during the forecast period. This growth is mainly due to the availability of high-speed internet facilities, highly developed healthcare infrastructure, high public healthcare expenditure and rising incidences of a number of cancers in the region.
Europe was the second largest regional market and is expected to show significant growth in the years to come. This growth is mainly due to technological advancements, such as picture archiving and communication system, radiology integration system and cloud computing services.

Asia-Pacific is expected to witness the highest growth in the near future. This growth is mainly attributed to improving healthcare infrastructure, widening the network of high-speed broadband services and advanced medical platforms. Thus Asia Pacific will be fastest growing markets in teleradiology market.

In Middle East & Africa; African region is projected to register noticeable growth rate owing to the increasing awareness among healthcare professional about teleradiology. Latin America is another important regional market and is expected to experience moderate growth over the forecast period. Thus, all the aforementioned parameters are expected to propel the market growth in this region.

Source:  Zion Market Research