Teleradiology Market Overview
Teleradiology enables the transmission of diagnostic medical images from one location to a different, where it is often accessed by radiologists and physicians. It enables radiologists to supply their expertise without necessarily being at an equivalent location because the patient. This is often essential because radiologist subspecialties are few in number and typically located in metropolitan cities. The adoption of teleradiology solutions has significantly helped bridge the rural-urban disparity in many emerging countries, including India and Brazil, also as developed economies just like the US, the UK, and Germany. These solutions are more convenient and cost-effective as they eliminate the necessity for travel and permit radiologists to figure from anywhere. a scarcity of qualified radiologists has further increased the demand for teleradiology services.
The US dominates the teleradiology market and accounts for quite 60% share of this market. However, from 2016 to 2018, there has been a gentle decline in reimbursements and a rise in regulatory changes within the country. This has led to consolidation within the healthcare industry. The regulatory processes related to the industry are impeding the expansion of the market. as an example , in the US, the protective Access to Medicare Act of 2014 or PAMA sets appropriate use criteria (AUC) for advanced diagnostic imaging services provided to the beneficiaries of Medicare. Consistent with PAMA, every healthcare professional who orders a complicated diagnostic imaging test should consult the AUC through a clinical decision support mechanism (CDSM).
These developments can significantly restrain the expansion of the diagnostic imaging market within the US, which, in turn, will affect the expansion of the teleradiology market.
Covid-19 Impact on Teleradiology Market:
In addition, the current Global Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Global Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Teleradiology Market Segment Overview
By product and service, the software segment is estimated to grow at the highest CAGR during the forecast period. The increasing demand for healthcare software has driven software companies to enhance interoperability, enhance technical capabilities, and increase data transparency. Moreover, the COVID-19 outbreak has led to an increased need for better management of huge amounts of patient data. Due to this, many hospitals are deploying teleradiology solutions to enhance the efficiency of healthcare providers and improve patient outcomes. Moreover the software segment is further classified as RIS and PACS.
By end users, the hospitals and clinics segment accounted for the largest share of in 2019. the big share of this segment are often attributed to the rising number of diagnostic imaging procedures performed in hospitals, the growing inclination of hospitals towards the automation and digitization of patient records, and therefore the growing got to improve the standard of patient care. Moreover, a shortage of radiologists because of the COVID-19 pandemic and therefore the rising adoption of advanced imaging modalities to enhance workflow efficiency in hospitals are further expected to support the expansion of this end-user segment.
By imaging technique, the computed tomography segment accounted for the largest market share. Computed tomography (CT) is employed during a wide selection of applications, like cardiology, oncology, neurology, and abdomen and pelvic, and spine and musculoskeletal imaging. Factors like the growing need for effective and early diagnosis, technological advancements, and digitalization during this field are driving the expansion of the teleradiology market for this segment. Consistent with the WHO, more than 100 million CT scans are performed per annum across the world . the necessity to stop exploratory surgeries and enhancements in cancer diagnosis and treatment have increased the demand for CT scans over other imaging techniques.
Market Analysis, Insights and Forecast – By Product and Services
· Hospitals and Clinics
· Diagnostic Imaging Center and Laboratories
· Long term care centers, nursing homes, assisted living facilities.
· Others
Market Analysis, Insights and Forecast – By Imaging Technique
· CT
· MRI
· Ultrasound
· X-ray
· Mammography
· Nuclear Imaging
· Fluoroscopy
Teleradiology Market Regional Overview
Region-wise, in terms of regions, In North America, Growing target population base, increasing prevalence of chronic diseases, and therefore the presence of major market players are the main factors contributing to the region’s leading position.
Additionally, developed infrastructure, supportive government initiatives, and increasing demand for efficient teleradiology solutions are likely to drive the regional market. Europe accounted for a major portion of the market revenue in 2019. The increasing number of awareness programs about teleradiology and its application being held in Europe is predicted to drive the market. as an example , the 8th International Conference on Medical Informatics and Telemedicine will be held in Switzerland in 2020, after being held in Italy the previous year. Such conferences are expected to extend awareness and simultaneously support innovations in teleradiology, thereby aiding the market growth.
Teleradiology Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Teleradiology Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Teleradiology are highlighted below.
· In June 2020, Phillips Healthcare (Netherlands) entered into a partnership with American Telemedicine Association (ATA) (US). This partnership aims to further the adoption of telehealth within the US.
Teleradiology Market, Key Players
· 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
· WebRad TeleRadiology
· Nautilus Medical
· Carestream Health Inc.
· USARAD Holdings, Inc.
· Everlight Radiology
Teleradiology enables the transmission of diagnostic medical images from one location to a different, where it is often accessed by radiologists and physicians. It enables radiologists to supply their expertise without necessarily being at an equivalent location because the patient. This is often essential because radiologist subspecialties are few in number and typically located in metropolitan cities. The adoption of teleradiology solutions has significantly helped bridge the rural-urban disparity in many emerging countries, including India and Brazil, also as developed economies just like the US, the UK, and Germany. These solutions are more convenient and cost-effective as they eliminate the necessity for travel and permit radiologists to figure from anywhere. a scarcity of qualified radiologists has further increased the demand for teleradiology services.
The US dominates the teleradiology market and accounts for quite 60% share of this market. However, from 2016 to 2018, there has been a gentle decline in reimbursements and a rise in regulatory changes within the country. This has led to consolidation within the healthcare industry. The regulatory processes related to the industry are impeding the expansion of the market. as an example , in the US, the protective Access to Medicare Act of 2014 or PAMA sets appropriate use criteria (AUC) for advanced diagnostic imaging services provided to the beneficiaries of Medicare. Consistent with PAMA, every healthcare professional who orders a complicated diagnostic imaging test should consult the AUC through a clinical decision support mechanism (CDSM).
These developments can significantly restrain the expansion of the diagnostic imaging market within the US, which, in turn, will affect the expansion of the teleradiology market.
Covid-19 Impact on Teleradiology Market:
In addition, the current Global Market study offers a detailed analysis of the current COVID-19 pandemic impact on the market growth and its influence on the future growth of the Global Market. The recently published report demonstrates the elevation in the demand for the healthcare sector. The healthcare manufacturers have experienced long term as well as short term effect which includes supply shortages, panic buying and stocking, regulation changes as short-term whereas approval delays and possible trend variations in consumption could be perceived as long-term impacts of COVID-19 on the health and pharmaceutical market.
The increasing need for a cure has pushed vaccine research and manufacturers to the limit. In addition to this, panic conditions have already spurred the demand for many healthcare products and services which are discussed in detail in this report. Moreover, the impact of COVID-19 on overall market revenue for the base year 2020 and its projection up to 2027 is provided in detail in this report.
Teleradiology Market Segment Overview
By product and service, the software segment is estimated to grow at the highest CAGR during the forecast period. The increasing demand for healthcare software has driven software companies to enhance interoperability, enhance technical capabilities, and increase data transparency. Moreover, the COVID-19 outbreak has led to an increased need for better management of huge amounts of patient data. Due to this, many hospitals are deploying teleradiology solutions to enhance the efficiency of healthcare providers and improve patient outcomes. Moreover the software segment is further classified as RIS and PACS.
By end users, the hospitals and clinics segment accounted for the largest share of in 2019. the big share of this segment are often attributed to the rising number of diagnostic imaging procedures performed in hospitals, the growing inclination of hospitals towards the automation and digitization of patient records, and therefore the growing got to improve the standard of patient care. Moreover, a shortage of radiologists because of the COVID-19 pandemic and therefore the rising adoption of advanced imaging modalities to enhance workflow efficiency in hospitals are further expected to support the expansion of this end-user segment.
By imaging technique, the computed tomography segment accounted for the largest market share. Computed tomography (CT) is employed during a wide selection of applications, like cardiology, oncology, neurology, and abdomen and pelvic, and spine and musculoskeletal imaging. Factors like the growing need for effective and early diagnosis, technological advancements, and digitalization during this field are driving the expansion of the teleradiology market for this segment. Consistent with the WHO, more than 100 million CT scans are performed per annum across the world . the necessity to stop exploratory surgeries and enhancements in cancer diagnosis and treatment have increased the demand for CT scans over other imaging techniques.
Market Analysis, Insights and Forecast – By Product and Services
- Teleradiology Services
- Software
- PACS
- RIS
· Hospitals and Clinics
· Diagnostic Imaging Center and Laboratories
· Long term care centers, nursing homes, assisted living facilities.
· Others
Market Analysis, Insights and Forecast – By Imaging Technique
· CT
· MRI
· Ultrasound
· X-ray
· Mammography
· Nuclear Imaging
· Fluoroscopy
Teleradiology Market Regional Overview
Region-wise, in terms of regions, In North America, Growing target population base, increasing prevalence of chronic diseases, and therefore the presence of major market players are the main factors contributing to the region’s leading position.
Additionally, developed infrastructure, supportive government initiatives, and increasing demand for efficient teleradiology solutions are likely to drive the regional market. Europe accounted for a major portion of the market revenue in 2019. The increasing number of awareness programs about teleradiology and its application being held in Europe is predicted to drive the market. as an example , the 8th International Conference on Medical Informatics and Telemedicine will be held in Switzerland in 2020, after being held in Italy the previous year. Such conferences are expected to extend awareness and simultaneously support innovations in teleradiology, thereby aiding the market growth.
Teleradiology Market, By Geography
· North America (US & Canada)
· Europe (UK, Germany, France, Italy, Spain, & Rest of Europe)
· Asia-Pacific (Japan, China, India, Australia, & South Korea, & Rest of Asia-Pacific)
· LAMEA (Brazil, Saudi Arabia, UAE & Rest of LAMEA)
Teleradiology Market Competitor overview
Some key developments and strategies adopted by manufacturers in the Teleradiology are highlighted below.
· In June 2020, Phillips Healthcare (Netherlands) entered into a partnership with American Telemedicine Association (ATA) (US). This partnership aims to further the adoption of telehealth within the US.
Teleradiology Market, Key Players
· 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
· WebRad TeleRadiology
· Nautilus Medical
· Carestream Health Inc.
· USARAD Holdings, Inc.
· Everlight Radiology
Teleradiology Market Study Global Market Analysis, Insights and Forecast, 2020-20275.3. Market Analysis, Insights and Forecast – By End Use 5.4. Market Analysis, Insights and Forecast – By Imaging Technique 5.5. Market Analysis, Insights and Forecast – By Region 6.3. Market Analysis, Insights and Forecast – By End Use 6.4. Market Analysis, Insights and Forecast – By Imaging Technique 6.5. Market Analysis, Insights and Forecast – By Country 7.3. Market Analysis, Insights and Forecast – By End Use 7.4. Market Analysis, Insights and Forecast – By Imaging Technique 7.5. Market Analysis, Insights and Forecast – By Country 8.3. Market Analysis, Insights and Forecast – By End Use 8.4. Market Analysis, Insights and Forecast – By Imaging Technique 8.5. Market Analysis, Insights and Forecast – By Country 9.3. Market Analysis, Insights and Forecast – By End Use 9.4. Market Analysis, Insights and Forecast – By Imaging Technique 9.5. Market Analysis, Insights and Forecast – By Country
1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
4. Key Insights
- 4.1. Key Emerging Trends – For Major Countries
- 4.2. Latest Technological Advancement
- 4.3. Regulatory Landscape
- 4.4. Industry SWOT Analysis
- 4.5. Porters Five Forces Analysis
5. Global Teleradiology Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 5.1. Key Findings / Summary
- 5.2. Market Analysis, Insights and Forecast – By Product and Services
- 5.2.1. Teleradiology Services
- 5.2.2. Software
- 5.2.2.1. PACS
- 5.2.2.2. RIS
- 5.3.1. Hospitals and Clinics
- 5.3.2. Diagnostic Imaging Center and Laboratories
- 5.3.3. Long term care centers, nursing homes, assisted living facilities.
- 5.3.4. Others
- 5.4.1. CT
- 5.4.2. MRI
- 5.4.3. Ultrasound
- 5.4.4. X-ray
- 5.4.5. Mammography
- 5.4.6. Nuclear Imaging
- 5.4.7. Fluoroscopy
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America, Middle East, and Africa
6. North America Teleradiology Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 6.1. Key Findings / Summary
- 6.2. Market Analysis, Insights and Forecast – By Product and Services
- 6.2.1. Teleradiology Services
- 6.2.2. Software
- 6.2.2.1. PACS
- 6.2.2.2. RIS
- 6.3.1. Hospitals and Clinics
- 6.3.2. Diagnostic Imaging Center and Laboratories
- 6.3.3. Long term care centers, nursing homes, assisted living facilities.
- 6.3.4. Others
- 6.4.1. CT
- 6.4.2. MRI
- 6.4.3. Ultrasound
- 6.4.4. X-ray
- 6.4.5. Mammography
- 6.4.6. Nuclear Imaging
- 6.4.7. Fluoroscopy
- 6.5.1. U.S.
- 6.5.2. Canada
7. Europe Teleradiology Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 7.1. Key Findings / Summary
- 7.2. Market Analysis, Insights and Forecast – By Product and Services
- 7.2.1. Teleradiology Services
- 7.2.2. Software
- 7.2.2.1. PACS
- 7.2.2.2. RIS
- 7.3.1. Hospitals and Clinics
- 7.3.2. Diagnostic Imaging Center and Laboratories
- 7.3.3. Long term care centers, nursing homes, assisted living facilities.
- 7.3.4. Others
- 7.4.1. CT
- 7.4.2. MRI
- 7.4.3. Ultrasound
- 7.4.4. X-ray
- 7.4.5. Mammography
- 7.4.6. Nuclear Imaging
- 7.4.7. Fluoroscopy
- 7.5.1. UK
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Russia
- 7.5.7. Rest of Europe
8. Asia Pacific Teleradiology Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 8.1. Key Findings / Summary
- 8.2. Market Analysis, Insights and Forecast – By Product and Services
- 8.2.1. Teleradiology Services
- 8.2.2. Software
- 8.2.2.1. PACS
- 8.2.2.2. RIS
- 8.3.1. Hospitals and Clinics
- 8.3.2. Diagnostic Imaging Center and Laboratories
- 8.3.3. Long term care centers, nursing homes, assisted living facilities.
- 8.3.4. Others
- 8.4.1. CT
- 8.4.2. MRI
- 8.4.3. Ultrasound
- 8.4.4. X-ray
- 8.4.5. Mammography
- 8.4.6. Nuclear Imaging
- 8.4.7. Fluoroscopy
- 8.5.1. China
- 8.5.2. India
- 8.5.3. Japan
- 8.5.4. Australia
- 8.5.5. South East Asia
- 8.5.6. Rest of Asia Pacific
9. Latin America, Middle East, and Africa Teleradiology Market Analysis (USD Billion), Insights and Forecast, 2020-2027
- 9.1. Key Findings / Summary
- 9.2. Market Analysis, Insights and Forecast – By Product and Services
- 9.2.1. Teleradiology Services
- 9.2.2. Software
- 9.2.2.1. PACS
- 9.2.2.2. RIS
- 9.3.1. Hospitals and Clinics
- 9.3.2. Diagnostic Imaging Center and Laboratories
- 9.3.3. Long term care centers, nursing homes, assisted living facilities.
- 9.3.4. Others
- 9.4.1. CT
- 9.4.2. MRI
- 9.4.3. Ultrasound
- 9.4.4. X-ray
- 9.4.5. Mammography
- 9.4.6. Nuclear Imaging
- 9.4.7. Fluoroscopy
- 9.5.1. Brazil
- 9.5.2. Saudi Arabia
- 9.5.3. UAE
- 9.5.4. Rest of LAMEA
10. Competitive Analysis
- 10.1. Company Market Share Analysis, 2018
- 10.2. Key Industry Developments
- 10.3. Company Profile
- 10.4. Philips Healthcare
- 10.4.1. Business Overview
- 10.4.2. Segment 1 & Service Offering
- 10.4.3. Overall Revenue
- 10.4.4. Geographic Presence
- 10.4.5. Recent Development
- 10.5. Cerner Corporation
- 10.6. Siemens Healthineers
- 10.7. McKesson Corporation
- 10.8. FUJIFILM Holdings Corporation
- 10.9. Agfa Healthcare
- 10.10. MEDNAX Services, Inc.
- 10.11. ONRAD Inc.
- 10.12. RamSoft Inc.
- 10.13. Novarad Corporation
- 10.14. TeleDiagnostic Solutions Pvt. Ltd.
- 10.15. Teleradiology Solutions
- 10.16. Telerad Tech
- 10.17. StatRad LLC
- 10.18. MedWeb LLC
- 10.19. WebRad TeleRadiology
- 10.20. Nautilus Medical
- 10.21. Carestream Health Inc.
- 10.22. USARAD Holdings, Inc.
Research Process
Data Library Research are conducted by industry experts who offer insight on industry structure, market segmentations technology assessment and competitive landscape (CL), and penetration, as well as on emerging trends. Their analysis is based on primary interviews (~ 80%) and secondary research (~ 20%) as well as years of professional expertise in their respective industries. Adding to this, by analysing historical trends and current market positions, our analysts predict where the market will be headed for the next five years. Furthermore, the varying trends of segment & categories geographically presented are also studied and the estimated based on the primary & secondary research.
In this particular report from the supply side Data Library Research has conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and SOFT) of the companies that active & prominent as well as the midsized organization
FIGURE 1: DLR RESEARH PROCESS
Extensive primary research was conducted to gain a deeper insight of the market and industry performance. The analysis is based on both primary and secondary research as well as years of professional expertise in the respective industries.
In addition to analysing current and historical trends, our analysts predict where the market is headed over the next five years.
It varies by segment for these categories geographically presented in the list of market tables. Speaking about this particular report we have conducted primary surveys (interviews) with the key level executives (VP, CEO’s, Marketing Director, Business Development Manager and many more) of the major players active in the market.
Secondary ResearchSecondary research was mainly used to collect and identify information useful for the extensive, technical, market-oriented, and Friend’s study of the Global Extra Neutral Alcohol. It was also used to obtain key information about major players, market classification and segmentation according to the industry trends, geographical markets, and developments related to the market and technology perspectives. For this study, analysts have gathered information from various credible sources, such as annual reports, sec filings, journals, white papers, SOFT presentations, and company web sites.
Market Size EstimationBoth, top-down and bottom-up approaches were used to estimate and validate the size of the Global market and to estimate the size of various other dependent submarkets in the overall Extra Neutral Alcohol. The key players in the market were identified through secondary research and their market contributions in the respective geographies were determined through primary and secondary research.
Forecast Model
