Global Teleradiology Market Overview
Teleradiology Market was valued at US$ 9.6 billion in 2024 and is projected to grow at a CAGR of 15.7% to reach US$ 36.3 billion by 2034.
Telemedicine is that the application of various technologies for the transfer of clinical information. The introduction of the web has enabled telemedicine to expand its reach across every medical speciality termed as teleradiology.
Radiology encompasses the various techniques employed by medical professionals to capture images of the interior body (X-rays, MRIs, Ultrasounds), to assist within the process of diagnosis or treatment. It’s the power to get these medical images in one location and their transmission over a distance in order that they will be viewed and interpreted for diagnostic or consultative purposes by a radiologist. For instance, there is a rise within the number of CT scans being performed within the U.S., however, there's a persisting shortage of radiologists within the country. Additionally, in Singapore, there's a scarcity of radiologists for night coverage, while within the UK, a radiologist takes 21 days on a mean to submit an MRI report. Of these challenges were met by teleradiology and thereby led to the expansion of tele-based technologies and surge in demand for teleradiology techniques globally.
Impact of Covid-19 pandemic on market
Due to the outbreak of COVID-19 globally, medical practices of all sizes are under immense pressure, and healthcare providers got to believe teleradiology solutions to read diagnostic reports and treat patients. The solutions also help to enhance the efficiency of diagnostic imaging by optimizing and simplifying radiology with correct reads and reduced manual errors. Because the battle against COVID-19 continues, there's a growing have to be compelled to make this solutions more common. However, this industry is facing staffing, monetary, and logistics challenges as a variety of radiologists are getting into the cluster of telehealth and teleradiology. In radiology, the volumes have dropped drastically due to the cancellation or postponement of elective procedures. Additionally, there are internet bandwidth issues, especially in rural hospital settings, and other people living in rural areas are hesitant to simply accept teleradiology reports because of data breaching issues.
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Teleradiology Market Dynamics
Integration of artificial intelligence in teleradiology
Integration of AI (AI) into teleradiology, implementation of Picture Archiving and Communication System (PACS), and growing R&D activities concerning eHealth are several other factors expected to spice up the demand for teleradiology services over the forecast period. For instance, HDM World, a teleradiology service provider in Latin America, chose RamSoft Powerserver (PACS), a cloud-based digital communication system, for its business model. This is often expected to extend the speed and safety of patient data transfer, thereby enabling quicker diagnosis.
High prevalence of chronic diseases
Increase in demand for radiological services due to high prevalence of chronic diseases like congestive coronary failure and orthopedic injuries are the main factors that propel the expansion of the teleradiology market. Additionally , significant increase in government expenditure on healthcare information (HCIT) sector and rise focused of key players toward bringing innovation to digital diagnostics further fuels the market growth. However, low availability of broadband networks and shortage of skilled radiologists restrain the market growth.
Global Teleradiology Market Segmentation
The teleradiology market is segmented based on products and services, imaging technique, end user, and region.
On the basis of product and services, the global teleradiology market is segmented into Services, Hardware, and Software. Based on imaging technique, the target market is segmented into MRI, CT, X-Ray, Ultrasound, Mammography, and Nuclear Imaging. On the basis of end user, the target market is segmented into hospitals, and diagnostic centers & laboratories.
Regional Insights:
On region the teleradiology market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the most important share of the teleradiology market in 2019, followed by Europe and therefore the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth within the APAC region is especially driven by the growing awareness about the advantages of early disease diagnosis, improvements in healthcare systems, growing medical tourism market in APAC countries, increasing healthcare expenditure, and increasing government initiatives for modernizing the healthcare infrastructure.
Report Scope:
|
Attribute |
Details |
|
Market Size 2024 |
US$ 9.6 billion |
|
Projected Market Size 2034 |
US$ 36.3 billion |
|
CAGR Growth Rate |
15.7% |
|
Base year for estimation |
2023 |
|
Forecast period |
2024 – 2034 |
|
Market representation |
Revenue in USD Billion & CAGR from 2024 to 2034 |
|
Market Segmentation |
By Product and services- hardware, software, and services By Imaging Technique– MRI, CT, X-Ray, Ultrasound, Mammography, and Nuclear Imaging By End User– hospitals, and diagnostic centers & laboratories |
|
Regional scope |
North America - U.S., Canada Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific Latin America - Brazil, Mexico, Argentina, Rest of Latin America Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa |
|
Report coverage |
Revenue forecast, company share, competitive landscape, growth factors, and trends |
Segments Covered in the Report:
This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends and opportunities in each of the sub-segments from 2024 to 2034. For the purpose of this study, has segmented the Teleradiology Market report based on Product and services, Imaging Technique, End User and region:
Teleradiology Market, By Region:
- North America
- Middle East & Africa
-
- GCC
- Israel
- South Africa
- Rest of Middle East & Africa
-
- Latin America
-
- Brazil
- Mexico
- Rest of Latin America
-
- Asia Pacific
-
- China
- India
- Japan
- South Korea
- Rest of Asia Pacific
-
- Europe
-
- Germany
- UK
- France
- Russia
- Italy
- Rest of Europe
-
-
- U.S.
- Canada
- Middle East & Africa
Global Teleradiology Market Key Players
The key players operating in the teleradiology market includes Philips Healthcare, Cerner Corporation, Siemens Healthineers, McKesson Corporation, FUJIFILM Holdings Corporation, Agfa Healthcare, MEDNAX Services, Inc., ONRAD Inc., RamSoft Inc., Novarad Corporation, TeleDiagnostic Solutions Pvt. Ltd., Teleradiology Solutions, Telerad Tech, StatRad LLC, MedWeb LLC, and WebRad TeleRadiology. For instance, In June 2020, Phillips Healthcare (Netherlands) entered into a partnership with American Telemedicine Association (ATA). This partnership aims to further the adoption of telehealth in the US.
Global Teleradiology Market Key Issues Addressed
Recent Development:
- In February 2024, a new consulting service has been introduced by telemedicine practice management company Yellowcross Healthcare Commerce to assist physician groups and healthcare facilities in increasing their capacity for remote treatment. Yellowcross collaborates with medical organizations, hospitals, clinics, and solo practitioners across the US to provide targeted service packages that address the scarcity of radiologists and offer specialized diagnostic services. Yellowcross is made to make it simple for medical professionals to concentrate on what really matters: treating patients on a large scale. Yellowcross provides company infrastructure and teleradiology service needs by managing and navigating the technological, invoicing, and marketing aspects.
Global Teleradiology Market Company Profile
- Philips Healthcare
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Cerner Corporation
- Siemens Healthineers
- McKesson Corporation
- FUJIFILM Holdings Corporation
- Agfa Healthcare
- MEDNAX Services, Inc.
- ONRAD Inc.
- RamSoft Inc.
- Novarad Corporation
- TeleDiagnostic Solutions Pvt. Ltd.
- Teleradiology Solutions
- Telerad Tech
- StatRad LLC
- MedWeb LLC
- WebRad TeleRadiology
Global Teleradiology Market Table of Contents
- Research Objective and Assumption
- Preface
- Research Objectives
- Study Scope
- Years Considered for the study
- Assumptions
- Abbreviations
- Research Methodology
- Research data
- Primary Data
- Primary Interviews
- Primary Breakdown
- Key data from Primary Sources
- Key Thickness Insights
- Secondary Data
- Major Secondary Sources
- Secondary Sources
- Market Estimation
- Top-Down Approach
- Approach for estimating Market Share by Top-Down Analysis (Supply Side)
- Bottom-Up Approach
- Approach for estimating market share by Bottom-up Analysis (Demand Side)
- Market Breakdown and Data Triangulation
- Research Assumptions
- Market Purview
- Executive Summary
- Key Findings—Global Outlook for Oncology Drug Strategies
- Key Questions this Study will Answer
- Market Snippet, By Product Type
- Market Snippet, By Cancer Type
- Market Snippet, By End-User
- Opportunity Map Analysis
- Executive Summary—3 Big Predictions
- Market Dynamics, Regulations, and Trends Analysis
- Market Dynamics
- Drivers
- Restraints
- Market Opportunities
- Market Trends
- DR Impact Analysis
- PEST Analysis
- Porter’s Five Forces Analysis
- Opportunity Orbit
- Market Investment Feasibility Index
- Macroeconomic Factor Analysis
- Market Dynamics
- Global Teleradiology Market, By Products & Services, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Services
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Hardware
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Software
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Teleradiology Market, By Imaging Technique, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- MRI
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- CT
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- X-Ray
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Ultrasound
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Teleradiology Market, By End-User, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Segment Trends
- Hospitals
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Diagnostic Centers & Laboratories
- Overview
- Market Size and Forecast (US$ Mn), and Y-o-Y Growth (%), 2020 – 2030
- Overview
- Global Teleradiology Market, By Region, 2020 – 2030, (US$ Mn)
- Overview
- Market Value and Forecast (US$ Mn), and Share Analysis (%), 2020 – 2030
- Y-o-Y Growth Analysis (%), 2020 – 2030
- Regional Trends
- North America
- Market Size and Forecast (US$ Mn), By Products & Services, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Imaging Technique, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- U.S.
- Canada
- Europe
- Market Size and Forecast (US$ Mn), By Products & Services, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Imaging Technique, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- UK
- France
- Germany
- Russia
- Italy
- Rest of Europe
- Asia Pacific
- Market Size and Forecast (US$ Mn), By Products & Services, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Imaging Technique, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- India
- Japan
- South Korea
- China
- Rest of Asia Pacific
- Latin America
- Market Size and Forecast (US$ Mn), By Products & Services, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Imaging Technique, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Market Size and Forecast (US$ Mn), By Products & Services, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Imaging Technique, 2020 – 2030
- Market Size and Forecast (US$ Mn), By End-User, 2020 – 2030
- Market Size and Forecast (US$ Mn), By Country, 2020 – 2030
- GCC
- Israel
- South Africa
- Rest of Middle East
- Overview
- Competitive Landscape
- Heat Map Analysis
- Market Presence and Specificity Analysis
- Company Profiles
- Philips Healthcare
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Cerner Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Siemens Healthineers
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- McKesson Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- FUJIFILM Holdings Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Agfa Healthcare
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- MEDNAX Services, Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- ONRAD Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- RamSoft Inc.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Novarad Corporation
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- TeleDiagnostic Solutions Pvt. Ltd.
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Teleradiology Solutions
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- Telerad Tech
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- StatRad LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- MedWeb LLC
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- WebRad TeleRadiology
- Company Overview
- Product Portfolio
- Key Highlights
- Financial Performance
- Business Strategies
- The Last Word
- Future Impact
- About Us
- Contact
FAQs
Teleradiology market is segmented based on product and services, imaging techniques, end user, and region.
Increasing the prevalence of chronic disease is the major factor driving growth of the global market.
North America held the most important share of the teleradiology market in 2019, followed by Europe and therefore the Asia Pacific. The Asia Pacific market is projected to grow at the highest CAGR during the forecast period. Market growth within the APAC region is especially driven by the growing awareness about the advantages of early disease diagnosis, improvements in healthcare systems, growing medical tourism market in APAC countries, increasing healthcare expenditure, and increasing government initiatives for modernizing the healthcare infrastructure.
Several strategic initiatives including portfolio expansions through novel product launches have been adopted by key players to maintain their presence in the market for teleradiology. For instance, In June 2020, Phillips Healthcare (Netherlands) entered into a partnership with American Telemedicine Association (ATA). This partnership aims to further the adoption of telehealth in the US.