The global Teleradiology Services Market is expected to reach USD 32.34 Billion by 2027, according to a new report by Emergen Research.
The growth of this market can be attributed to the favorable government initiatives regarding the adoption of teleradiology in order to provide early disease diagnosis. Besides, the application of modern-day technologies such as the adoption of cloud-based technologies, blockchain, and cryptocurrencies will lead to better efficiency and cost-effective solutions. Increasing Investments for the development of advanced solutions is augmenting the demand for the industry.
The pandemic has disrupted the supply chain and raw material supplies, but it has increased the demand for the product in the healthcare industry. Due to the pandemic, the healthcare workers are under tremendous pressure, so they are seeking the help of the teleradiology services in order to analyze reports and diagnose the patients. Besides, the technology also helps to increase the efficiency of the imaging devices and reduces manual errors. The pandemic has led to the increased usage of telehealth and teleradiology. The issues of internet bandwidth in rural areas and less awareness among rural people regarding the authenticity of teleradiology services might act as a barrier.
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The Teleradiology Services research report also contains an analytical analysis of the key players in the market, as well as an analysis of their business overviews, business expansion strategies, and other business-related activities. This helps readers and business owners create plans for strategic investment and expansion.
The study focuses on business and government transactions, as well as mergers and acquisitions, joint ventures, collaborations, and partnerships. The expansions that these well-known firms are vying for in the key market areas are also discussed in the report. The research concentrates on a thorough examination of the technological and product advancements made by these businesses.
Key players in the Teleradiology Services market include
Philips Healthcare, Teleradiology Solutions, USRAD Holdings, Inc., Everlight Radiology, MEDNAX, Inc., ONRAD, Inc., AGFA Healthcare, RAMSOFT, Inc., Telediagnostic Solutions PVT. LTD. and CARESTREAM HEALTH, Inc., among others.
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Key Highlights from the Report
The Hospitals & clinics segment dominated the market with a share of 54.6% in 2019 due to the growing adoption of teleradiology services by the hospitals & Clinics. Due to the pandemic, there is a shortage of radiologists, which have led to the increasing adoption of diagnostic imaging procedures in order to maintain workflow and increase efficiency.
The software segment is expected to experience the highest CAGR over the forecast period due to the growing demand for healthcare software to increase data transparency and improve patient outcomes.
North America has the highest adoption rate in the market over the forecast period due to the presence of a technologically advanced healthcare structure.
Emergen Research has segmented the global Teleradiology Services Market on the basis of Imaging Technique, End-Users, Products and Services, and region:
Imaging Technique Outlook (Revenue, USD Billion; 2017-2027)
Magnetic resonance imaging (MRI)
Computed tomography (CT)
X-Rays
Ultrasound
Mammography
Others
End-Users Outlook (Revenue, USD Billion; 2017-2027)
Diagnostic Centers
Hospitals & Clinics
Others
Products and Services Outlook (Revenue, USD Billion; 2017-2027)
Software
Hardware
Teleradiology services
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Teleradiology Services Market Segmentation by Regions:
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Key point summary of the report:
The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.
It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.
The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.
It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.
The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.
The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.
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