Transparency Market Research

Development of Medical Imaging Platforms Drives Global Teleradiology Market to Newer Heights

Transparency Market Research Report Added "Teleradiology Market" to its database.


Albany, NY -- (SBWIRE) -- 12/11/2015 -- Teleradiology is the transmission of radiological images from the sender (primary location) to the receiver (secondary acquisition site) via internet technology. This electronic image transfer in a digital format is done for the purpose of consultation or diagnosis, and consistent advancement in the field of digital imaging technology has resulted in the growth of global teleradiology market. Ultrasound, magnetic resonance imaging (MRI), x-ray, computed tomography (CT), and nuclear imaging are some of the major segments of teleradiology.

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Double-Digit Growth Forecast for Teleradiology Market

Teleradiology has emerged as the largest as well as the most mature segment of the overall telehealth industry, thanks to evolving technologies in medical imaging. The surging popularity of mhealth all over the world has also catapulted the teleradiology market to greater heights. Apart from this, advanced technologies in the communication sector, rousing acceptance of the Internet, and the vital role of social media platforms has led to the proliferation of the teleradiology market.

Constant upgradation of Radiology Information Systems (RIS) and Picture Archiving and Communication Systems (PACS) is also boosting the process of teleradiology over the past few years, resulting in enhanced image capture, processing, storage, and reporting.

Propelled by these factors, the global market for teleradiology is anticipated to register an impressive CAGR of 22.30% from 2013 to 2019, according to a report by Transparency Market Research. In 2012, the value of the teleradiology market was pegged at US$0.9 bn, which is forecast to grow to US$3.7 bn by 2019.

While the investment opportunities presented by teleradiology are rather strong, this market is anticipated to be challenged by high cost of technology and security concerns with respect to imaging data.

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Technological Advancements Fueling Developed Teleradiology Markets

The global teleradiology market covers four main regions: Europe, Asia Pacific, North America, and Rest of the World. In 2012, North America emerged as the leader in the teleradiology market with a share of more than 33% in terms of revenue. The key factor driving this regional market is the booming healthcare sector. Presence of well-informed patients, availability of well-equipped healthcare institutions and hospitals, rapid adoption of unique medical approaches, rise in healthcare expenditure, and increased demand for advanced healthcare practices are the leading factors responsible for the growth of the teleradiology market in North America. In addition, the growing use of high-bandwidth internet technologies in medicine and healthcare boosts the teleradiology market in the region.

Western Europe is the second largest teleradiology market, driven by technological advancements and surging healthcare awareness among patients. The Asia Pacific teleradiology market holds immense potential for growth, according to leading market analysts, thanks to ongoing developments in the fields of healthcare informatics and medical imaging.

Radisphere National Radiology Group, Inc., American TeleCare, Inc., Virtual Radiologic (vRad), StatRad, Sectra AB, ONRAD, Inc., Agfa-Gevaert N.V., Cybernet Systems Corporation, and Teleradiology Solutions are some of the most prominent players in the global teleradiology market. Strong competition among these players to obtain a greater share of the market pushes them to develop novel and innovative imaging solutions. This has strongly supported the growth of the teleradiology market.

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About Transparency Market Research (TMR
Transparency Market Research (TMR) is a U.S.-based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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