About Teleradiology Services
Teleradiology services rise the ability of radiologists to offers service to remote areas and underserved locations as well as coverage at times when direct reading of images is not conceivable. In the medical imaging world, the conversion from analog to digital methods is widely available mechanisms to quickly and affordably transmit digital data over large distances that have powered the rapid growth of teleradiology services. Moreover, reasonable teleradiology services have allowed referring radiologists and physicians to access imaging from the convenience of their offices and homes this is anticipated the growth of the teleradiology services market in the forecast period.
Attributes | Details |
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Study Period | 2017-2027 |
Base Year | 2021 |
Unit | Value (USD Million) |
The Players having a strong hold in the market are Envision Healthcare Corporation, MEDNAX Services, and 4ways Healthcare. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Teleradiology Services market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Envision Healthcare Corporation (United States), MEDNAX Services (United States), 4ways Healthcare (United Kingdom), Euro American Tele Radiology (United States), Argus Radiology (United States), Teleradiology Solutions (India), American Imaging Consultants (United States), USARAD Holdings (United States), ONRAD (United States) and Teleconsult Europe (Netherlands) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Africa Telerad (Kenya) and Unilabs (Switzerland).
Segmentation Overview
AMA Research has segmented the market of Global Teleradiology Services market by , Application (Radiology Information System (RIS), Picture Archiving and Communication System (PACS), Integrated (RIS and PACS) and Others) and Region.
On the basis of geography, the market of Teleradiology Services has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. General Reporting will boost the Teleradiology Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Imaging Modality, the sub-segment i.e. Computed Tomography will boost the Teleradiology Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Technology, the sub-segment i.e. Cloud-based Services will boost the Teleradiology Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Teleradiology Services market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Leaders and their expansionary development strategies
In 2021, Medica Group plc announced the launch of MedX, a joint venture with Integral Diagnostics Limited. The joint venture will give Integral Diagnostics access to Medica's market-leading teleradiology expertise and clinical governance framework applicable in Australia and New Zealand. MedX is estimated to provide remote radiation reporting services and enhanced reporting capabilities in Australia, New Zealand, United Kingdom and Ireland. and In 2020, Medica Group plc acquired Global Diagnostics Ireland to expand its geographic reach, customer base and reach. Global Diagnostics is Ireland's market leader in remote radiology services.
In 2020, Medica Group plc and Qure.ai have announced a strategic partnership to develop AI tools to improve efficiency and prioritization of radiation scanning workloads., In 2020, Mednax, Inc. entered into a securities purchase agreement with Radiology Partners, Inc. to sell the Radiology Services Medical Group, which closed on December 15, 2020. Purchase consideration is subject to USD 885 Mn paid in cash at closing, certain cash, minimum net working capital, debt and other adjustments. and In 2020, Nano-X Imaging Ltd. announced a partnership with Siemens Healthineers-supported USARAD, which leverages its radiation marketplace platform to provide radiation services to more than 300 certified radiologists in more than 500 healthcare facilities in 50 US states and 15 countries.
Market Drivers
- Increasing Chronic Diseases like Cancer, Orthopaedic Diseases, and Other Diseases
- Growing Geriatric Population and Rising Healthcare Spending
Opportunities
- Increasing Exponential Growth in Medical Imagining Software, and Collaboration of Diagnostic Companies and Teleradiology Service Providers
Restraints
- High Cost of Imaging Modalities
Challenges
- Lack of Awareness of Benefits of Teleradiology Services
Key Target Audience
Teleradiology Providers, Potential Technology Investors, Regulatory & Government Bodies, Downstream Vendors, End Users and Other
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have the better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with purpose to understand companys positioning regarding market value, volume and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders etc. and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, analyst team keeps preparing set of questionnaires and after getting appointee list; the target audience are then tapped and segregated with various mediums and channels that are feasible for making connection that includes email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey etc.