Teleradiology Services Market Growing at Healthy CAGR over Forecast 2020 to 2027
The global Teleradiology Services Market is expected to reach USD 32.34 Billion by 2027, according to a new report by Emergen Research. The growth of this market can be attributed to the favorable government initiatives regarding the adoption of teleradiology in order to provide early disease diagnosis. Besides, the application of modern-day technologies such as the adoption of cloud-based technologies, blockchain, and cryptocurrencies will lead to better efficiency and cost-effective solutions. Increasing Investments for the development of advanced solutions is augmenting the demand for the industry. The pandemic has disrupted the supply chain and raw material supplies, but it has increased the demand for the product in the healthcare industry. Due to the pandemic, the healthcare workers are under tremendous pressure, so they are seeking the help of the teleradiology services in order to analyze reports and diagnose the patients. Besides, the technology also helps to increase the efficiency of the imaging devices and reduces manual errors.
The Teleradiology Services Market Research Report published by Emergen Research has been formulated by analysis of key business details and extensive geographical spread of the Teleradiology Services industry. The study offers comprehensive coverage of the qualitative and quantitative analysis of the Teleradiology Services market along with crucial statistical data about the Teleradiology Services market. The research study provides historical data from 2017 to 2018 and offers accurate forecast estimation until 2027. The report also profiles established and emerging players of the market, covering the business overview, product portfolio, strategic alliances, and business expansion strategies.
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The report further offers a complete value chain analysis along with an analysis of the downstream buyers and upstream raw materials. The study focuses on global trends, regulatory frameworks, and macro- and micro-economic factors. The report also provides an extensive analysis of the segment and sub-segmented expected to dominate the market over the projected period. The report offers a forecast estimation of the market with regards to the analysis of the market segmentation, including product type, end-user industries, application spectrum, and other segments.
Top competitors of the Teleradiology Services Market profiled in the report include:
Philips Healthcare, Teleradiology Solutions, USRAD Holdings, Inc., Everlight Radiology, MEDNAX, Inc., ONRAD, Inc., AGFA Healthcare, RAMSOFT, Inc., Telediagnostic Solutions PVT. LTD. and CARESTREAM HEALTH, Inc., among others.
Some Key Highlights from the Report
- The Hospitals & clinics segment dominated the market with a share of 54.6% in 2019 due to the growing adoption of teleradiology services by the hospitals & Clinics. Due to the pandemic, there is a shortage of radiologists, which have led to the increasing adoption of diagnostic imaging procedures in order to maintain workflow and increase efficiency.
- The software segment is expected to experience the highest CAGR over the forecast period due to the growing demand for healthcare software to increase data transparency and improve patient outcomes.
- North America has the highest adoption rate in the market over the forecast period due to the presence of a technologically advanced healthcare structure.
- Asia Pacific is expected to register the highest CAGR over the forecast period due to the increasing initiatives of the government to modernize the healthcare infrastructure and growing investments on the R & D for the production of advanced solutions.
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Emergen Research has segmented the global Teleradiology Services Market on the basis of Imaging Technique, End-Users, Products and Services, and region:
Imaging Technique Outlook (Revenue, USD Billion; 2017-2027)
- Magnetic resonance imaging (MRI)
- Computed tomography (CT)
End-Users Outlook (Revenue, USD Billion; 2017-2027)
- Diagnostic Centers
- Hospitals & Clinics
Products and Services Outlook (Revenue, USD Billion; 2017-2027)
- Teleradiology services
Regional Analysis of the Teleradiology Services Market:
- North America (U.S., Canada)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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The research report on the Teleradiology Services market is formulated through extensive primary and secondary research along with qualitative and quantitative analysis of vital aspects of the market. The insightful data is further validated and verified by the industry professionals. The report strives to offer deeper insights into the overall market scenario of the Teleradiology Services business sphere.
Key Objectives of the Report:
- Analysis and estimation of the Teleradiology Services market size and share for the projected period of 2020-2027
- Extensive analysis of the key players of the market by SWOT analysis and Porter’s Five Forces analysis to impart a clear understanding of the competitive landscape
- Study of current and emerging trends, restraints, drivers, opportunities, challenges, growth prospects, and risks of the global Teleradiology Services market
- Analysis of the growth prospects for the stakeholders and investors through the study of the promising segments
- Strategic recommendations to the established players and new entrants to capitalize on the emerging growth opportunities
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