Teleradiology Services Market to gain US$ 19.7 Bn By 2031, Increase in Adoption of Telemedicine amid COVID-19 Fuels the Market Expansion, Says TMR Report

The teleradiology services market is expected to expand at a CAGR of 10.6% during 2021–2031. The development of virtual workplaces is helping players to group all radiologists

Growing adoption of technological advancements in teleradiology as a modern technique for diseases diagnosis is fueling market expansion

ALBANY, N.Y., Oct. 6, 2021 /PRNewswire/ -- Teleradiology refers to electronic transmission of radiographic images from one location to another with an aim to achieve rapid diagnosis and/or consultation, required for patients dealing with critical health conditions.

Consultation, general reporting, and auditing are some of the services included in the global teleradiology services market.

The analysts at Transparency Market Research (TMR) project that the global teleradiology services market will cross the valuation of 19.7 Bn by 2031.

Teleradiology Services Market: Key Findings

• Growth in Utilization of Specialized Modalities Creates Lucrative Avenues in Market

The healthcare professionals across the world are increasing the use of varied modalities including CT scan, MRI, and ultrasound owing to several advantages of these technologies such as advanced detection and visibility of cancers, tumors, and soft tissues. The growing demand for specialized modalities is boosting the need for specialist radiologists who can interpret complex imaging assessments.

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• Surge in Demand for Out-of-Hours Reporting Boosts Market Sales

Patients dealing with emergency conditions such as trauma or possible serious injuries (related to neurology) need rapid and precise diagnosis. Players in the teleradiology services market are concentrating on providing access to a team of dual-qualified radiologists that are capable to deliver acute out-of-hours reporting services.

Teleradiology Services Market: Growth Boosters

• With notable growth in demand for diagnostic imaging services in comparison to the supply, there is increased need for outsourcing the diagnostic reporting workload. This factor is creating prodigious avenues for the expansion of the global teleradiology services market.
• With emergence of COVID-19 pandemic, people around the world are increasing inclination toward online counseling. The increased adoption of telemedicine is projected to boost the expansion opportunities in the global teleradiology services market in the years to come.

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• Healthcare organizations from several developed countries are growing focus on taking help from external domestic teleradiology service providers. This factor is creating demand for teleradiology service providers across the globe.
• Surge in demand for precise diagnosis of radiology procedures including MRI and CT scan is expected to drive expansion of the global teleradiology services market in the years to come.
• Many developed countries in the world are witnessing the issue of radiologists' shortage, which has impacted on service delivery and hospital care in some areas of these countries. Due to limitations related to staffing onsite, the healthcare organizations in these nations are sending several scans offsite for analysis purposes. This scenario is working as one of the key drivers of the teleradiology services market.

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Teleradiology Services Market: Competition Landscape

• Presence of many players in the global teleradiology services market is indication of intense level of competition in it.
• Leading market players are increasing participation in varied strategic moves such as new services development, acquisitions, collaborative agreements, and regulatory approvals. Moreover, many players are strategizing their business moves for regional expansions. These strategies are expected to assist them in strengthening their businesses, and thereby expansion of the global teleradiology services market in the years to come.

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Teleradiology Services Market: Key Players

The report profiles some of key players operating in the teleradiology services market. Thus, the research document delivers all crucial information such as company overview, financial overview, product portfolio, recent developments, and business strategies of all players profiled in the market.

Some of the key players in the teleradiology services market include:

• Africa Telerad Limited
• 4ways Healthcare Limited
• Medica Group plc
• Euro American Teleradiology
• ONRAD, Inc.
• Mednax Services, Inc.
• Specialty Teleradiology, Inc.
• Real Radiology, LLC
• TeleConsult Europe (TCE)
• StatRad (NucleusHealth)
• Teleradiology Solutions
• Telemedicine Clinic (UNILABS)
• USARAD Holdings, Inc.

Global Teleradiology Services Market: Segmentation

• Teleradiology Services Market, by Type of Service
• General Reporting
• Consultation
• Auditing
• Others
• Teleradiology Services Market, by Modality
• X-Ray
• Ultrasound
• Computer Tomography (CT)
• Magnetic Resonance Imaging (MRI)
• Nuclear Imaging
• Others
• Teleradiology Services Market, by Coverage
• Day Time Coverage
• After Hours/Night Time Coverage
• Teleradiology Services Market, by Specialty
• Cardiology
• Neurology
• Oncology
• Musculoskeletal
• Gastroenterology
• Others
• Teleradiology Services Market, by End User
• Hospitals
• Diagnostic Imaging Centers
• Ambulatory Surgical Centers
• Clinics
• Others
• Teleradiology Services Market, by Region
• North America
• U.S.
• Canada
• Europe
• Germany
• U.K.
• France
• Italy
• Spain
• Rest of Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• Rest of Asia Pacific
• Latin America
• Brazil
• Mexico
• Rest of Latin America
• Middle East & Africa
• GCC Countries
• South Africa
• Rest of Middle East & Africa

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