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Teleradiology Market to Exhibit a Remarkable CAGR of 18.5% by 2029, Key Drivers, Size, Share, Growth, Applications and Opportunity Analysis

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INDIANAPOLIS, Sept. 22, 2022 (GLOBE NEWSWIRE) — “Global Teleradiology Market” the new research report adds to Data Bridge Market Research’s reports database. This Research Report is spread across 350 Page, 220 No of Tables, And 60 No Figures summarizing Top companies, with tables and figures. Tele-radiology Market analysis document is created by thoroughly understanding the business environment which best suits the requirements of the client. With this market research document, it becomes easy to develop a successful marketing strategy for the business. This industry report is a complete overview of the market that takes into account various aspects of product definition, market segmentation based on various parameters, and the established merchant landscape. Estimations about the rise or fall of the CAGR value for a specific forecast period are also mentioned in the report. The winning Tele-radiology Market report not only gives the advantage to develop the business but also helps to outshine the competition.

Data Bridge Market Research analyzes that the Global Tele-radiology Market is expected to reach USD 5,910.05 million by 2029, at a CAGR of 18.5% during the forecast period. Services account for the largest type segment in the market due to increasing teleradiology services among the global population. This market report also covers pricing analysis, patent analysis, and technological advancements in depth.

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Market Overview: Tele-radiology

Teleradiology is a branch of telemedicine in which telecommunication systems are used to transmit radiological images from one location to another. Rapid developments in digital image processing technologies ensure effective image distribution across the regional, local, and global levels. The emergence and acceptance of mobile technology (mHealth) to visualize and interpret images further fuels the growth of the teleradiology market in developed nations such as the U.S., Germany, the U.K., Australia, and Japan. Widespread use of smart connected devices and related solutions confirms the effective interpretation of the medical images, thereby reducing treatment time. Hence, advancements in digital technology will enhance remote patient monitoring methodologies and accessibility to radiologists’ interpretation and consultation.

Teleradiology is a medical method that captures visuals of the internal anatomy and function of the body that helps in the process of medical diagnosis or therapy. Interpreting all noninvasive imaging studies, such as digitized x-rays, CT, MRI, ultrasound, and nuclear medicine studies, can be carried out in such a manner. It can capture medical images in one location and facilitate or transmit them over a range so that a radiologist can view and interpret them for diagnostic or consultative purposes

In addition, according to the World Health Organization factsheet, cancer is responsible for one of every six deaths worldwide. Furthermore, approximately 70% of cancer deaths occur in low- and middle-income countries. The increase in the funding by the federal government to drive the adoption of these solutions further influence the market. Additionally, the surge in healthcare expenditure, advancements in healthcare infrastructure, and high demand for expanded care delivery positively affect the teleradiology market.

However, repayments and the growing regulatory burden are expected to dampen the growth of the teleradiology market. On the other hand, the rising cost of technology is anticipated to restrain the market growth.

Market Key Players Covered:

  • Telemedicine Clinic
  • Virtual Radiologic
  • RamSoft, Inc.
  • Koninklijke Philips N.V.
  • Everlight Radiology
  • Teleradiology Solutions
  • All-American Teleradiology
  • Medica Group PLC
  • Vital Radiology Services
  • PMG Services, Inc.
  • General Electric
  • RadNet, Inc.
  • FUJIFILM Corporation
  • Agfa-Gevaert Group
  • USARAD.COM
  • TeleDiagnosys Services Pvt Ltd.
  • ONRAD, Inc.
  • 4ways Healthcare Limited
  • Allscripts Healthcare, LLC
  • Redox, Inc.
  • NightHawk Radiology
  • NightShift Radiology
  • NucleusHealth

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Recent Developments

  • In April 2022, 4ways announced that it had been shortlisted at the 2022 Health Investor Awards. 4ways is in contention for the diagnostics provider of the year award. This acknowledgment celebrated the growth of 4ways’, strengthening its position as a key partner to the clients. 4ways has sustained improvement to its service offering through innovations in workflows and investments in new technologies. This has enabled 4ways to gain resilience as a platform for teleradiology and has provided operations security

Opportunity

  • Increasing Awareness Among People

Teleradiology Market offers alternative options for receiving healthcare services globally, improving access and reducing costs associated with traveling for services. However, the full potential of teleradiology has not been realized with slow and fragmented uptake.

The increase in the awareness program, teleradiology awareness, and support from the government has increased the usage of teleradiology and telehealth in various areas.

These awareness programs and events among the people increase their interest in their health and to know more about the healthcare programs and what new opportunities are available for their health that will ultimately raise market growth of teleradiology and provide opportunities for companies to grow.

What Reports Provides:

  1. Comprehensive analysis of product demand in global as well as regional markets
  2. Draw up information on major market trends, drivers, obstacles, and other related challenges
  3. A detailed review of many vendors present on the market
  4. Competitive world consists of launches, mergers, acquisitions, partnerships, and joint projects with new products
  5. Complete coverage of all product and market segments for pattern evaluation, global market innovation, and market size forecast.
  6. Comprehensive review of the companies which operate for the products on the global market. The company’s profile involves analysis of the product portfolio, sales analysis, SWOT analysis and the latest developments in the sector
  7. Growth Matrix offers brand segment and geography analysis that will be focused on investing, consolidating, and growing and/or diversifying market players

Dynamics: Teleradiology Market

This section deals with understanding the market drivers, opportunities, restraints, and challenges. All of this is discussed in detail as below: 

Key Drivers

  • Growing Number of Advanced Imaging Procedures

The rise in imaging procedures is expected to drive the demand for teleradiology solutions for reliability and efficiency. Advanced diagnostic imaging, including diagnostic magnetic resonance imaging (MRI), computed tomography (CT), and nuclear medicine imaging, such as positron emission tomography (PET), has attracted many new providers. There has been a proliferation in the volume of diagnostic medical imaging services prescribed by practitioners, including radiologists.

CT scans account for a quarter of all Americans exposed to radiation. A high level of engineering and expertise is required to manage advanced and sophisticated diagnostic imaging systems, thus driving the growing complexity of cases with a lack of appropriate resources. Adopting remote sensing solutions has contributed significantly to narrowing the rural-urban disparity in many emerging countries, including India and Brazil, as well as in developed economies such as the United States, the United Kingdom, and Germany. These solutions are more practical and economical as they eliminate travel and allow radiologists to work from anywhere. The shortage of qualified radiologists has further increased the demand for radiology services.

Advanced imaging procedures for teleradiology are expected to help the market get more accurate results quickly and propel the global teleradiology market Industry in the forecasted period.

  • Adoption of Artificial Intelligence in Teleradiology

Artificial intelligence is one of the most promising breakthroughs in teleradiology. It is estimated that the number of publications on AI in radiology has grown from an average of 100-150 research publications per year to 700-800 per year over the past decade. Among all major imaging modalities, the acceptance of AI is higher in CT and MRI systems. Depending on the application, AI is also used primarily in neuroradiology. Several players in this market are expanding their AI offerings.

AI has been embedded in numerous medical institutions worldwide and has proven itself a valuable partner in the radiology environment. Global Diagnostics Australia (GDA), an Integral Diagnostics Group (IDG) subsidiary, was one of the first Australian diagnostics companies to deploy AI as part of their radiology workflow. The company integrated high-end algorithms into the care management path to accelerate patient care and treatment of head, neck, and chest conditions. The additional benefit of AI in teleradiology is that Artificial intelligence helps radiologists quickly analyze image and data registries to understand patient conditions better, enhance their clinical role, and become part of the core management team. AI picks up enough weight that the radiologist can focus on the complex cases that require their specialist attention.

Artificial intelligence (AI) can help create an inbuilt system that prioritizes cases based on their protocol requirement. For example, cases of trauma and stroke can be prioritized and assigned to the radiologist’s work lists, thereby saving many lives.

Artificial intelligence in teleradiology helps get improved results with automated tools and helps radiologists utilize their skills properly, which is expected to propel market growth.

View Detailed Teleradiology Market Report@ https://www.databridgemarketresearch.com/reports/global-teleradiology-market

Challenges of Teleradiology Market:

  • High Chances of Misdiagnosis

A physical examination can better understand the patient’s actual health condition, which is the most crucial element for the patient’s treatment. All the treatment programs and what should be the next step for the treatment can be created with the help of a quick physical examination. The same procedure should be applied to the radiologists to know more about actual problems and conditions, and more outcomes are obtained when patients are present with radiologists during consultations. Lack of patient medical history and other necessary records of the patient body examination during medical imaging is a major factor in the radiologist’s incapacity to make the optimal decision in teleradiology. For example, it has been demonstrated that communication between doctors and radiologists results in clinical diagnosis revisions in 50% of cases, affecting therapy options. The accuracy of interpretation will change if the patient’s medical history is appropriately disclosed

Thus, the high chances of misdiagnosis and improper examination of the report demolish the usage of teleradiology which is expected to challenge the global teleradiology market growth.

Market Segmentation:

The global tele-radiology market is segmented into type, delivery mode, imaging technique, technology, procedure, application, site, age, mode of purchase, and end-user. The growth among segments helps you analyze niche pockets of development and strategies to approach the market and determine your core application areas and the difference in your target markets.

By Type

  • Telecom & Networking

By Delivery Mode

  • Web-Based Delivery Mode
  • Cloud-Based Delivery Mode
  • On-Premise Delivery Mode

By Imaging Technique

  • Small Matrix Size
  • Large Matrix Size

By Technology

  • Advanced Graphics Processing
  • Volume Rendering
  • Multiplanar Reconstructions
  • Image Compression

By Procedure

  • Tele-Consultation
  • Tele-Diagnosis
  • Tele-Monitoring

By Application

  • Cardiology
  • Musculoskeletal
  • Gastroenterology
  • Pelvic And Abdominal
  • Gynecology
  • Mammography

By Site

By Age

By Mode Of Purchase

  • Group Purchase
  • Individual Purchase

By End Users

  • Ambulatory Surgical Centers
  • Private Physician Offices
  • Diagnostic Imaging Centers

Global Teleradiology Market Regional Analysis/Insights

The Global teleradiology market is analyzed, and teleradiology market size information is provided by type, delivery mode, imaging technique, technology, procedure, application, site, age, mode of purchase, and end-user.

The countries covered in teleradiology market report are U.S., Canada, Mexico, Germany, France, U.K., Italy, Spain, Russia, Turkey, Belgium, Netherlands, Switzerland, and the rest of Europe, China, Japan, India, South Korea, Singapore, Thailand, Malaysia, Australia, Philippines, Indonesia and rest of Asia-Pacific, UAE, Israel, South Africa, Saudi Arabia, Egypt and rest of the Middle East and Africa, Brazil, Argentina and the rest of South America.

In 2022, North America is dominating due to the presence of key market players in the largest consumer market with high GDP. The U.S Teleradiology market is expected to grow due to the rise in technological advancement in teleradiology.

North America is dominating the market. The increasing investment in R&D and the increasing adoption of teleradiology as an option for formulating treatment regimens are expected to boost the market growth. The U.S. dominates the North American region due to the strong presence of advanced technology providers such as General Electric, Agfa-Gevaert Group, Koninklijke Philips N.V., FUJIFILM Corporation, and others. The U.K. dominates Europe due to the increasing demand from emerging markets and the expansion of healthcare industries. China dominates the Asia-Pacific region due to an increase in healthcare expenditure.

TABLE OF CONTENTS

Part 01: Executive Summary

Part 02: Scope Of The Report

Part 03: Research Methodology

Part 04: Market Landscape

Part 05: Pipeline Analysis

Part 06: Market Sizing

Part 07: Five Forces Analysis

Part 08: Market Segmentation

Part 09: Customer Landscape

Part 10: Regional Landscape

Part 11: Decision Framework

Part 12: Drivers And Challenges

Part 13: Market Trends

Part 14: Vendor Landscape

Part 15: Vendor Analysis

Part 16: Appendix

To Check the Complete Table of Content Click Here @ https://www.databridgemarketresearch.com/toc/?dbmr=global-teleradiology-market

Explore Mort Reports:

  • North America Teleradiology Market, By Type (Hardware, Systems, Software, Telecom, and Networking Services), Delivery Mode (Web-Based Delivery Mode, Cloud Based Delivery Mode, and On-Premise Delivery Mode), Imaging Technique (Small Matrix Size, and Large Matrix Size), Technology (Advanced Graphics Processing, Volume Rendering, Multiplanar Reconstructions, and Image Compression), Procedure (Tele-Consultation, Tele-Diagnosis, and Tele-Monitoring), Application (Cardiology, Neurology, Oncology, Musculoskeletal, Gastroenterology, Pelvic and Abdominal, Gynecology, Urology, Mammography, Dental, and Others), Site (In-House, Offshore, and Onshore), Age (Pediatric, Geriatric, and Adults), Mode of Purchase (Group Purchase, and Individual Purchase), End User (Hospitals, Ambulatory Surgical Centers, Private Physician Offices, Diagnostics Imaging Centers, and Others) https://www.databridgemarketresearch.com/reports/north-america-teleradiology-market
  • Asia-Pacific Teleradiology Market, By Type (Hardware, Systems, Software, Telecom, and Networking Services), Delivery Mode (Web-Based Delivery Mode, Cloud Based Delivery Mode, and On-Premise Delivery Mode), Imaging Technique (Small Matrix Size, and Large Matrix Size), Technology (Advanced Graphics Processing, Volume Rendering, Multiplanar Reconstructions, and Image Compression), Procedure (Tele-Consultation, Tele-Diagnosis, and Tele-Monitoring), Application (Cardiology, Neurology, Oncology, Musculoskeletal, Gastroenterology, Pelvic and Abdominal, Gynecology, Urology, Mammography, Dental, and Others), Site (In-House, Offshore, and Onshore), Age (Pediatric, Geriatric, and Adults), Mode of Purchase (Group Purchase, and Individual Purchase), End User (Hospitals, Ambulatory Surgical Centers, Private Physician Offices, Diagnostics Imaging Centers, and Others) https://www.databridgemarketresearch.com/reports/asia-pacific-teleradiology-market
  • Europe Teleradiology Market, By Type (Hardware, Systems, Software, Telecom, and Networking Services), Delivery Mode (Web-Based Delivery Mode, Cloud Based Delivery Mode, and On-Premise Delivery Mode), Imaging Technique (Small Matrix Size, and Large Matrix Size), Technology (Advanced Graphics Processing, Volume Rendering, Multiplanar Reconstructions, and Image Compression), Procedure (Tele-Consultation, Tele-Diagnosis, and Tele-Monitoring), Application (Cardiology, Neurology, Oncology, Musculoskeletal, Gastroenterology, Pelvic and Abdominal, Gynecology, Urology, Mammography, Dental, and Others), Site (In-House, Offshore, and Onshore), Age (Pediatric, Geriatric, and Adults), Mode of Purchase (Group Purchase, and Individual Purchase), End User (Hospitals, Ambulatory Surgical Centers, Private Physician Offices, Diagnostics Imaging Centers, and Others) https://www.databridgemarketresearch.com/reports/europe-teleradiology-market
  • Middle East & Africa Teleradiology Market, By Type (Hardware, Systems, Software, Telecom, and Networking Services), Delivery Mode (Web-Based Delivery Mode, Cloud Based Delivery Mode, and On-Premise Delivery Mode), Imaging Technique (Small Matrix Size, and Large Matrix Size), Technology (Advanced Graphics Processing, Volume Rendering, Multiplanar Reconstructions, and Image Compression), Procedure (Tele-Consultation, Tele-Diagnosis, and Tele-Monitoring), Application (Cardiology, Neurology, Oncology, Musculoskeletal, Gastroenterology, Pelvic and Abdominal, Gynecology, Urology, Mammography, Dental, and Others), Site (In-House, Offshore, and Onshore), Age (Pediatric, Geriatric, and Adults), Mode of Purchase (Group Purchase, and Individual Purchase), End User (Hospitals, Ambulatory Surgical Centers, Private Physician Offices, Diagnostics Imaging Centers, and Others) https://www.databridgemarketresearch.com/reports/middle-east-and-africa-teleradiology-market

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