Global Teleradiology Services Market, by Process Type (Certified Reporting Services Process, and Preliminary Reporting), by Service Type (Emergency Nighthawk, Day Time Coverage, Sub-specialty Reading, (Cardiac Reading, Neuroradiology, Nuclear Scans, Musculoskeletal Studies), Second Opinion, Clinical Trials), by Modality (X-ray Scans, CT Scan, MRI Scan, Ultrasound Scans, Nuclear Scans, Cardiac Echo, Mammography, Electromammography), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, Radiology Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) is estimated to be valued at US$  9,011.6 Million in 2022 and is expected to exhibit a CAGR of 12.1% during the forecast period (2022-2030), as highlighted in a new report published by Coherent Market Insights.

The emerging market players are involved in inorganic growth strategies such as collaborations which is expected to drive the global teleradiology services market, over the forecast period. For instance, on September 1, 2020, DeepTek, a health-tech company, forms a strategic collaboration with Doctor-NET Inc, a teleradiology company. DeeTek aims to provide radiology services more affordable and available by holding the power of artificial intelligence.

Moreover, the increasing adoption of services like teleradiology by healthcare professionals is expected to propel the growth of global teleradiology services market. For instance, according to an article published on August 8, 2022, by Express Healthcare, a business news magazine, a demand of radiology services and calls for the adaptation of services like teleradiology has been increased by healthcare professional, because teleradiology improves labor utilization, offers high-quality measurements, and accelerates the speed and accuracy of reporting.

Global Teleradiology Services Market– Impact of Coronavirus (COVID-19) Pandemic

The COVID-19 pandemic and lockdowns in various countries across the globe have impacted the financial status of businesses across all sectors, including the private healthcare sector. The COVID-19 pandemic has impacted the entire supply chain of the healthcare industry, mainly due to strict lockdown in several regions. Private healthcare is one such sector that has been impacted significantly by the COVID-19 pandemic.

However, the COVID-19 pandemic had a negative impact on global teleradiology service market, owing to decrease in radiological examinations. For instance, according to article published in March 2021, by Springer, a publishing company, the percentage of radiological examinations were constant from 2017 to 2019 in France, but in 2020, radiological examinations for strokes decreased by 36%, body- computerized tomography (CT) by 62%, CTr by 52%, etc. During the first lockdown due to travel restrictions there was a decrease in Body-CT and cranial trauma management.           

Global Teleradiology Services Market: Key Developments

For instance, in July 2019, MEDNAX Radiology Solutions, a provider of diagnostic imaging services and Virtual Radiologic Corporation, a provider of diagnostic imaging services, presented its product portfolio at AHRA: The Association for Medical Imaging Management’s 2019 Annual meeting held in the U.S.  More than 1,000 medical imaging executives attend the annual meeting, which provides a chance to network with colleagues from throughout the nation and learn about the latest developments in medical services, equipment, and trends.

Browse 28 Market Data Tables and 18 Figures spread through 150 Pages and in-depth TOC on “Global Teleradiology Services Market”- Forecast to 2030, Global Teleradiology Services Market, by Process Type (Certified Reporting Services Process, and Preliminary Reporting), by Service Type (Emergency Nighthawk, Day Time Coverage, Sub-specialty Reading, (Cardiac Reading, Neuroradiology, Nuclear Scans, Musculoskeletal Studies), Second Opinion, Clinical Trials), by Modality (X-ray Scans, CT Scan, MRI Scan, Ultrasound Scans, Nuclear Scans, Cardiac Echo, Mammography, Electromammography), by End User (Hospitals, Clinics, Ambulatory Surgical Centers, Radiology Centers), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)

To know the latest trends and insights prevalent in this market, click the link below:

https://www.coherentmarketinsights.com/market-insight/teleradiology-market-549

Increasing adaptation of inorganic growth strategies such as acquisition by key market players is expected to drive the global teleradiology services market, over the forecast period. For instance, in August, 2018, REAL Radiology, provider of teleradiology services, announced the acquisition of Argus Radiology Consultants, a provider of teleradiology services. The acquisition brings together two businesses that are entirely owned and run by radiologists. With this acquisition, REAL Radiology customers and their patients will receive better support.

Key Takeaways of the Global Teleradiology Services Market:

  • Global teleradiology services market is expected to exhibit a CAGR of 12.1% during the forecast period due to the increasing inorganic growth strategies such as partnership, by key market players. For instance, on June 29, 2021, Vital Radiology Services, a subsidiary of Vital Healthcare Group, announced partnership with I-MED Radiology Network, a medical imaging provider. Vital Radiology Services, provides radiology reporting services to the public and private healthcare sectors. Through this partnership, both the company aims to bring new services to the global teleradiology market.
  • Among Modality segment, CT scan segment is expected to exhibit highest CAGR in the global teleradiology Services market during the forecast period this is attributed to increasing product launches by major players in the market. For instance, on April 28, 2022, Wipro GE Healthcare, a medical technology and digital solutions provider, announced the launch of its next-generation Revolution Aspire Computed Tomography (CT) scanner. The CT system provides operating efficiency with up to 50% higher throughput and higher imaging intelligence. Aspire CT scanner's rotation time has been extended by 20%, allowing doctors to diagnose patients more quickly.
  • Among regions, North America is estimated to account for the largest market share in the global teleradiology services market, due to increase product launch by major market players. For instance, in October, 2019, Philips, a conglomerate company, launched its Incisive Computed Tomography (CT) platform in North America. Incisive CT integrates innovations in imaging, workflow and lifecycle management.
  • Major players operating in the global teleradiology services market include Teleradiology Solutions, Virtual Radiologic Corporation, Argus Radiology, OnePacs LLC, SRL Diagnostics, USARAD Holdings, Inc., Vital Radiology Services, Teleradiology Providers, Life Image, Telemedicine Clinic, TeleDiagnosys Services Pvt. Ltd., Imaging Advantage, Foundation Radiology Group, Direct Radiology, Imaging On Call, LLC, ONRAD, Inc., Rays (Envision Healthcare Company), StatRad LLC, ARIS Radiology, NightShift Radiology, Mednax, Inc. Alta Vista TeleRadiology, and Quality Nighthawk.

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