Teleradiology Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
Teleradiology refers to the transmission of radiological pictures from one site to another. Teleradiology is the process of analyzing medical pictures while a radiologist is not physically present in the area where the images are created. It is used in hospitals, mobile imaging firms, urgent care clinics, and even certain private practices. The main reason for using teleradiology is that having a radiologist on-site is expensive.

Sizing and Forecast
The teleradiology market size has grown rapidly in recent years. It will grow from <b>$5.28 billion in 2023 to $6.22 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. </b> The growth in the historic period can be attributed to shortage of radiologists, quality and speed of diagnosis, healthcare regulations supporting, improved image transmission, medical imaging technology..

The teleradiology market size is expected to see rapid growth in the next few years. It will grow to <b>$11.99 billion in 2028 at a compound annual growth rate (CAGR) of 17.8%. </b> The growth in the forecast period can be attributed to global health challenges, telemedicine growth, cross-border radiology services, patient-centered care, rural healthcare access.. Major trends in the forecast period include ai-assisted diagnostics, cloud-based teleradiology, radiology-as-a-service (raas),telecardiology integration, subspecialty teleradiology services .

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Segmentation & Regional Insights
The teleradiology market covered in this report is segmented –

1) By Modality: X-Ray, MRI, CT Scan, Ultrasound Systems
2) By Technology: Web Based, Cloud Based
3) By Component: Hardware, Software
4) By End User: Hospitals, Diagnostic Centres, Other End Users

<b>North America</b> was the largest region in the teleradiology market in 2023. The regions covered in the teleradiology market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The rising number of imaging procedures is expected to propel the growth of the teleradiology market. An imaging procedure is a type of test that makes detailed pictures of areas inside the body that a healthcare professional can examine and suggest treatment. Imaging in teleradiology is used to diagnose symptoms and causes of disease and monitor patient health through the transmission of radiological images from one place to another using the internet. The rising number of imaging procedures require the imaging copies to be transferred to healthcare professionals/radiologists for examination, in turn, driving demand for teleradiology solutions. For instance, according to an article by the US National Library of Medicine, the number of computed tomography (CT) examinations is increasing by 4% per year worldwide, for a total of around 300 million CT scans per year. In addition, according to a Canadian market research company iData Research medical imaging procedures analysis, more than 75 million CT scans were performed each year in the USA, which is projected to reach 84 million procedures by 2022. Therefore, the rising number of imaging procedures will drive the growth of the teleradiology market.

Key Industry Players
Major companies operating in the teleradiology market include <b> 4ways Healthcare Ltd., Agfa-Gevaert Group, Everlight Radiology Limited, Onrad Inc., RamSoft Inc., RadNet Inc., Virtual Radiologic Corporation, Teleradiology Solutions LLC, NightRays LLC, MEDNAX Inc., Global Diagnostics Ltd., USARAD Holdings Inc., StatRad LLC, Argus Radiology, Direct Radiology LLC, Imaging Advantage LLC, InHealth Group Inc., Imaging On Call Inc., National Teleradiology LLC, Medica Reporting Ltd., Radisphere National Radiology Group, MedWeb, Franklin & Seidelmann Subspecialty Radiology, Telemedicine Clinic ., Aris Radiology, NightShift Radiology, Envision Healthcare Corporation, Vision Radiology </b>

The teleradiology market report table of contents includes:

1. Executive Summary

2. Teleradiology Market Characteristics

3. Teleradiology Market Trends And Strategies

4. Teleradiology Market – Macro Economic Scenario

5. Global Teleradiology Market Size and Growth

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31. Global Teleradiology Market Competitive Benchmarking

32. Global Teleradiology Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Teleradiology Market

34. Teleradiology Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players:

4ways Healthcare Ltd

Agfa-Gevaert Group

Onrad Inc

RamSoft Inc.

RadNet Inc

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