Teleradiology Market, By Products & Services (Services, Hardware, and Software), By Imaging Techniques (MRI, CT, X-ray, Ultrasound, Mammography, and Nuclear Imaging), By End User (Hospitals, and Diagnostic Centers & Laboratories), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa)- Trends, Analysis and Forecast till 2034

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.

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.

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:

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

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.

• 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.

• 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