Teleradiology Market to reach a market size of $8 billion by 2025
According to a new report Global Teleradiology Market, published by KBV Research, The Global Teleradiology Market size is expected to reach $8 billion by 2025, rising at a market growth of 17.31% CAGR during the forecast period.
The X-Ray market dominated the Global Teleradiology Market by Product in 2018, growing at a CAGR of 16.5 % during the forecast period. The Magnetic Resonance Imaging (MRI) market is anticipated to grow at a CAGR of 18.1% during (2019-2025). The Ultrasound market is poised to grow at a CAGR of 16.8% during the forecast period.
The North America market dominated the Global Teleradiology Market by Region in 2018, and would continue to be a dominant market till 2025. Expanding the target population and an increase in the prevalence of chronic diseases, like cardiac diseases, cancer, bone impairments, and liver diseases, are the key factors that push the region's growth potential to maximum levels. The Europe market is experiencing a growth rate of 16.9% during (2019-2025). Additionally, The Asia Pacific market is expected to witness a CAGR of 18.6% during (2019-2025).
Structural Insights: https://www.kbvresearch.com/teleradiology-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of Mednax Services, Inc., Agfa-Gevaert Group, Siemens AG, Koninklijke Philips N.V., ONRAD, Inc., Everlight Radiology LLP, Teleradiology Solutions, Inc., 4ways Healthcare Ltd., RamSoft, Inc. and USARAD Holdings, Inc.
Recent Strategies Deployed in Teleradiology Market
» Collaborations, Partnerships and Agreements:
Oct-2019: Siemens Healthineers collaborated with DHR Health in which DHR Health became the first to install Multix Impact floor-mounted digital radiography (DR) system from Siemens Healthineers. This Multix Impact has been designed to expand the access to high-quality imaging and enhance the patient experience.
Oct-2019: Teleradiology Solutions teamed up with Skype Telemedicine for the remote radiology services in Gulf region and Bahrain. The services included in this partnership are Nighthawk, Teleradiology Services and Subspecialty Radiology reporting. The remote radiology interpretation services would be provided to hospitals and healthcare facilities.
Nov-2018: ONRAD, a 24/7 full-service technology-enabled radiology services provider came into partnership with ImmersiveTouch, a leading provider of surgical planning software. Through this partnership, Onrad strengthened its surgical and radiologic alliances in hospitals. It also extends the usage of medical imaging in new areas.
May-2018: Teleradiology Solutions signed partnership agreement with Qure.ai and Telerad Tech (T2) in order to enable the faster and smarter diagnosis of X-ray and CT scan data, and reduced costs. Under this partnership, the Telerad Tech's proprietary RIS PACS platform, RADSpa, will be integrated with Qure.ai's chest X-ray technology. Then this platform will be used by Teleradiology Solutions for providing teleradiology solutions all over the world.
Apr-2018: Philips teamed up with Digital China Health, a largest provider of cloud-based healthcare services. Together, they launched SHINEFLY, a teleradiology application and service platform for fulfilling the increasing demand of China's healthcare systems. This collaboration also expanded the reach of Philips in China.
» Acquisition and Mergers:
Aug-2019: Philips acquired Carestream Health Inc.’s Healthcare Information Systems (HCIS) business. The HCIS’s cloud-enabled enterprise imaging platform will expand the current enterprise diagnostics informatics solutions of Philips. These solutions include advanced visualization, analysis, productivity enhancement, and data management.
Mar-2019: Philips took over Direct Radiology’s teleradiology platform and business operations for the expansion of its radiology solutions portfolio. It has the plans to scale the Direct Radiology’s teleradiology platform for supporting the radiologists all over the world.
Oct-2018: Mednax acquired Radiology Specialists, Ltd., a private radiology physician group. This is the seventh radiology services practice acquisition of the company; through this acquisition, Mednax radiology solutions has been recognized as a leader in radiology, a pioneer in telemedicine and an innovator in health care informatics.
Sep-2017: Mednax took over Jefferson Radiology and Jefferson Imaging Associates, which would become the part of MEDNAX’s vRad, a global teleradiology company. The acquisition has strengthened the radiology solutions offered by Mednax.
Jun-2017: Siemens Healthineers announced the acquisition of Medicalis, a developer of radiology workflow solutions. Through integrating Medicalis’ offerings into its PHM portfolio, Siemens has gained the expertise and solutions to provide clinical decision support and workflow orchestration to health systems.
» Product Launches:
Mar-2019: Philips unveiled new telehealth platforms, which include Cloud-based picture archiving and communication systems (PACS) software and Vendor Neutral Archive (VNA) solutions. This has helped the company expand its teleradiology services portfolio. The new platform will be used for visualization, advanced analytics, and workflow applications to increase the access to precision diagnosis and addressing the rising shortage of radiologists.
Jan-2019: RamSoft, Inc. showcased three mobile apps for radiology communication system (RIS/PACS) and information system/picture archiving. These apps are: openDoctor, PocketHealth and AuthPal/Patient Access. With openDoctor App, PowerServer RIS/PACS can send instructions and reminders to patients. With PocketHealth, imaging providers can share DICOM imaging and reports electronically with patients; and with AuthPal, PowerServer RIS/PACS helps automate the authorization process.
Nov-2018: Siemens Healthineers introduced syngo Virtual Cockpit that can be used with positron emission tomography/computed tomography (PET/CT) scanners and computed tomography (CT) as well as with magnetic resonance imaging (MRI) and PET/MRI systems. Through this, healthcare providers can achieve the higher level of standardization, which can lead to more accurate diagnostics.
Global Teleradiology Market Segmentation
By Product
X-Ray
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
Ultrasound
Nuclear Imaging
By Geography
North America
US
Canada
Mexico
Rest of North America
Europe
Germany
UK
France
Russia
Spain
Italy
Rest of Europe
Asia Pacific
China
Japan
India
South Korea
Singapore
Malaysia
Rest of Asia Pacific
LAMEA
Brazil
Argentina
UAE
Saudi Arabia
South Africa
Nigeria
Rest of LAMEA
Companies Profiled
Mednax Services, Inc.
Agfa-Gevaert Group
Siemens AG
Koninklijke Philips N.V.
ONRAD, Inc.
Everlight Radiology LLP
Teleradiology Solutions, Inc.
4ways Healthcare Ltd.
RamSoft, Inc.
USARAD Holdings, Inc.
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