Global Teleradiology Services Market Is Estimated To Witness Significant Growth Due To Rising Adoption Of Teleradiology For Early Diagnosis And Growing Incidences Of Chronic Diseases

 

Overview:

Radiology is an imaging technique that physicians use for diagnosing or treating conditions within the body. It includes x-rays, ultrasounds and MRIs. Medical facilities that utilize teleradiology are able to save time and money by not having to pay for an in-house radiologist, especially during peak volume times. They are also able to get quick reports and diagnoses that can help with symptom control and treatment plans. Teleradiology services are often used by emergency departments and other healthcare providers that have limited access to a radiologist's contemporaneous interpretation. These services include a wide range of radiology interpretations, including radiology reads, overreads, diagnostic interpretations, consultations and second opinions.

Market Dynamics:

Increasing product launches are estimated to augment growth of the global teleradiology services market over the forecast period. For instance, a true remote diagnostic imaging workflow was introduced by Agfa Healthcare in November 2021. Using this radiologists can access images, collaborate, interpret and make quality decisions. Moreover, increasing costs off technology is anticipated to restrain growth of the global Teleradiology Services Market over the forecast period.

Impact of COVID-19:

 

COVID-19 was first reported in 2019 in China. It was later transmitted to more than 100 nations. This led to imposing strict measures for preventing the spread of the virus. These restrictions disrupted supply chains and also hampered manufacturing activities. The pandemic also impacted the healthcare sector significantly. Teleradiology was helpful for real-time audit of sectorized activities and it allowed several organizations to conduct chest CT scans as a part of their follow-up or initial tests for suspected patients. Thus this had a positive impact on the growth of the global teleradiology services market during the pandemic.

 

Key Takeaways:

 

The global teleradiology services market is expected to witness high growth, exhibiting CAGR of 12.1 % over the forecast period, due to growing acquisitions. For instance, Vesta Teleradiology acquired Momentum Healthcare Staffing in January 2021, for bringing remote and onsite coverage of well-qualified physicians.

 

North America is anticipated to witness significant growth in the global teleradiology services market over the forecast period, owing to rising prevalence of chronic disorders and increasing target population base.

 

Major players operating in the global teleradiology services market are Medica Group PLC, Virtual Radiologic, Matrix, Agfa-Gevaert Group, Koninklijke Philips N.V., ONRAD, Inc., USARAD Holdings, Inc., Ever light Radiology, Ram Soft, Inc., and 4ways Healthcare Ltd.