Teleradiology Market size was valued at USD 9.58 billion in 2023 to USD 30.13 billion by 2031, growing at a CAGR of 15.40% during the forecast period (2024-2031). Rapidly increasing demand for medical imaging around the world on the back of the surging prevalence of chronic diseases is projected to primarily bolster the demand for teleradiology over the coming years. Growing investments in the development of novel teleradiology solutions and the high adoption of telemedicine and teleconsultation practices will also help market growth in the long run.
Investing in the development of novel medical technologies and integrating them with remote monitoring practices will help companies innovate in the future. Addressing the current challenges in the radiology industry will also create new opportunities for teleradiology companies going forward. Advancements in imaging and radiology technologies will also create new business scope for teleradiology providers in the future.
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Launching Novel Teleradiology Solutions and Services Remains the Top Priority of All Teleradiology Companies
Teleradiology providers should focus on incorporating advanced technologies with their solutions to maximize their business growth going forward. Integration of artificial intelligence and cloud technologies will surely change the future of teleradiology market growth trajectory. Teleradiology companies are also focusing on solving the issue of the shortage of radiologists through their automated solutions. On the other hand, acquisitions, partnerships, and mergers are also emerging as highly attractive strategies for market players looking to expand their market share on a global level. Rising demand for home care and remote care are also expected to provide a major boom for teleradiology market development over the next ten years and beyond.
A new artificial intelligence-based solution to help radiologists was launched in November 2023. A renowned provider of remote teleradiology services was behind this launch as it focuses on improving the radiology workflow for radiologists working with Pulmonary Embolism detection.
In April 2020, a new teleradiology network was launched in the country of Argentina. TelMed Foundation was behind the launch of these remote radiology services as it also focused on preventing the spread of the COVID-19 pandemic in the country, which was peaking around the world at the time.
5C Network, a leading name in the radiology space, announced the launch of its new artificial intelligence-powered platform back in August 2022. Prodigi intended to report every radiology image within 2 to 3 hours to enable teleradiology on a larger scale and improve the efficacy of diagnostics across healthcare verticals.
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This report covers the following segments:
A. Product & Service
Teleradiology Services
Software [Picture Archiving & Communication Systems (PACS), Radiology Information Systems (RIS)]
Hardware
Others
B. Imaging Technique
Computed Tomography
Magnetic Resonance Imaging (MRI)
C. End User
Hospitals And Clinics
Diagnostic Imaging Centers and Laboratories
Long-term Care Centers
Nursing Homes & Assisted Living Facilities
Other End Users
This report covers the following players:
GE Healthcare (US)
Medica Group PLC. (UK)
Cerner Corporation (US)
McKesson Corporation (US)
Agfa Healthcare (Belgium)
Siemens Healthineers (Germany)
Fujifilm Holdings Corporation (Japan)
4Ways Healthcare (UK)
Teleradiology Solutions (India)
ONRAD (US)
RamSoft, Inc. (Canada)
Novarad Corporation (US)
TeleDiagnostic Solutions Pvt. Ltd. (India)
StatRad LLC (US)
Medweb LLC (US)
Nautilus Medical (US)
Mirada Medical (UK)
Telerad Tech (India)
USARAD Holdings, Inc. (US)
Koninklijke Philips N.V. (Netherlands)
InHealth Group Ltd. (UK)
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Innovation and the use of artificial intelligence will be top trends for teleradiology companies in the future. Entering new and emerging markets to expand business scope will also be a popular strategy for all teleradiology companies. Market players will need to choose their strategies meticulously to enhance their business scope in the long run.
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