Teleradiology Market Was Valued At USD At 11.5 Billion By 2026 : Grand View Research Inc.
San Francisco, 20 June 2019: The Report Teleradiology Market Size, Share & Trends Analysis Report By Product (Ultrasound, MRI, CT, X-ray), By Region (North America, Asia Pacific, Europe, Middle East & Africa, Latin America), And Segment Forecasts, 2019 – 2026
The global teleradiology market size is estimated to reach USD 11.5 billion by 2026 registering a CAGR of 18.4%, according to a new report by Grand View Research, Inc. Rising prevalence of chronic diseases, such as osteoporosis and arthritis, along with growing geriatric population are expected to drive the market. According to the WHO, 9.6% of men and 18% of women are suffering from various forms of arthritis, globally. Over 82% of people suffering from osteoarthritis have difficulty in movement and around 25% are not able to perform daily activities.
In addition, legislative amendments made by various governments worldwide for diagnostic imaging services will enhance the growth of this market during the forecast period. For instance, amendments in Australia’s Health Insurance Act 1973 for diagnostic imaging have enabled Medicare funding for these diagnostic imaging services since March 2008. This has allowed better access to diagnostic imaging for various conditions. North America was the major regional market in 2018 and accounted for 39.45% of the global share due to factors, such as higher amount of funding for R&D, patient awareness levels, and cancer prevalence.
The region is likely to expand further on account of favorable government initiatives for improving the healthcare facilities in rural areas and increased healthcare expenditure in this region are contributing to the market growth. Asia Pacific is expected to witness the fastest growth with a CAGR of 19.8% over the forecast period. Rising demand for innovative and advanced medical platforms coupled with rapidly growing healthcare infrastructure supports the fastest growth in this region. In addition, presence of target population and need for improved disease diagnosis are anticipated to drive the market in APAC.
Access Research Report of Teleradiology Market @ www.grandviewresearch.com/industry-analysis/teleradiology-market
Further key findings from the study suggest:
Grand View Research has segmented the global teleradiology market on the basis of product and region:
Teleradiology Product Outlook (Revenue, USD Million, 2014 - 2026)
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
The global teleradiology market size is estimated to reach USD 11.5 billion by 2026 registering a CAGR of 18.4%, according to a new report by Grand View Research, Inc. Rising prevalence of chronic diseases, such as osteoporosis and arthritis, along with growing geriatric population are expected to drive the market. According to the WHO, 9.6% of men and 18% of women are suffering from various forms of arthritis, globally. Over 82% of people suffering from osteoarthritis have difficulty in movement and around 25% are not able to perform daily activities.
In addition, legislative amendments made by various governments worldwide for diagnostic imaging services will enhance the growth of this market during the forecast period. For instance, amendments in Australia’s Health Insurance Act 1973 for diagnostic imaging have enabled Medicare funding for these diagnostic imaging services since March 2008. This has allowed better access to diagnostic imaging for various conditions. North America was the major regional market in 2018 and accounted for 39.45% of the global share due to factors, such as higher amount of funding for R&D, patient awareness levels, and cancer prevalence.
The region is likely to expand further on account of favorable government initiatives for improving the healthcare facilities in rural areas and increased healthcare expenditure in this region are contributing to the market growth. Asia Pacific is expected to witness the fastest growth with a CAGR of 19.8% over the forecast period. Rising demand for innovative and advanced medical platforms coupled with rapidly growing healthcare infrastructure supports the fastest growth in this region. In addition, presence of target population and need for improved disease diagnosis are anticipated to drive the market in APAC.
Access Research Report of Teleradiology Market @ www.grandviewresearch.com/industry-analysis/teleradiology-market
Further key findings from the study suggest:
- X-ray held the largest market share in 2018 owing to its wide applications, such as in the detection of dental injuries and fractures in bones
- Growing demand for bedside imaging and core diagnostics and introduction of novel technologies are expected to further boost the segment growth
- CT scan is expected to witness the fastest growth from 2019 to 2026. Extensive usage, faster testing, high-resolution imaging capacity, and advent of new generation systems, such as 4D, are the factors responsible for the segment’s highest CAGR
- North America held the largest teleradiology market share in 2018 due to wide usage of advanced technologies and presence of key companies and established healthcare infrastructure in the region
- Asia Pacific is expected to be the fastest-growing region over the forecast period due to supportive government regulations for the expansion of teleradiology and quick adoption of new technologies
- Some of the prominent companies are 4ways Healthcare Ltd.; HealthWatch TeleDiagnostics Pvt. Ltd.; RamSoft, Inc.; Everlight Radiology; Virtual Radiologic; Agfa-Gevaert N.V.; ONARD; Teleradiology Solutions; and Global Diagnostics
- Most of these companies focus on expanding their product portfolios and entering in untapped markets, such as Asia Pacific
Grand View Research has segmented the global teleradiology market on the basis of product and region:
Teleradiology Product Outlook (Revenue, USD Million, 2014 - 2026)
- X-ray
- Ultrasound
- Magnetic Resonance Imaging (MRI)
- Computed Tomography (CT)
- Nuclear Imaging
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and healthcare.
For More Information: www.grandviewresearch.com
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