The Teleradiology Market is expected to reach USD 23.1 billion by 2025 from USD 8.2 billion in 2020, at a CAGR of 23.5% during the forecast period of 2020 to 2025.
Teleradiology provides the same functionality for physicians as their onsite workstations, allowing radiologists to read images and diagnose from the safety of their home. As the fight against COVID-19 continues, there is a growing need to make teleradiology solutions more common.
Market Player in teleradiology market are Nexxrad, Vision Radiology, ONRAD Inc., Agfa-Gevaert Group, Virtual Radiologic, Everlight Radiology, RamSoft, Inc., 4ways Limited, Argus Radiology, RadNet, Inc.
Dicom System a leader in Enterprise Imaging interoperability and workflow software, has announced their support of Vision Radiology in the routing, tag-morphing, and management of medical imaging exams which has led to a marked improvement in diagnostic reporting and the delivery of patient care.
Future Popularity in Cloud infrastructure-
Among the future and trend of teleradiology outsourcing, the most innovative technological phenomenon has been the introduction of the cloud environment and cloud-based collaboration tools. Uploading, accessing and storing of radiology images, reports, and other data on these virtual centers have led to significant benefits. Reduced costs of infrastructure and easy access anywhere and everywhere by the authorized radiologists are some of the few key advantages of cloud-architecture, making it one of the top global teleradiology trends in the market.
Teleradiology and Its impact on COVID-19
Teleradiology falls under the telehealth umbrella because radiologists can interpret images and communicate with physicians electronically while working remotely. For example, cloud-based workstations and mobile applications allow radiologists and physicians to access diagnoses, reports, and images no matter their location via pictorial archiving and communication systems (PACS). Hundreds of scans can be analyzed and reported in as little as 8 minutes using this technology, surpassing the industry average of 30 minutes. This allows both radiologists and physicians to provide proficient and excellent care for the patient while reducing the risk of spreading or contracting COVID-19. Teleradiology services can become a major solution to the COVID-19 crisis and beyond. Making these types of services more accessible to radiologists across the United States will make a lasting impact on the industry. More reads will be analyzed and diagnosed while allowing radiologists to abide by CDC precautions in working remotely to reduce viral exposure. Teleradiology isn’t the only solution to the COVID-19 crisis, but it can be an important step as it becomes more common throughout our health care systems.
Market segmentation classified on By Mode of Imaging (X-Ray, Magnetic Resonance Imaging (MRI), Computed Tomography, Ultrasound, Interventional Imaging), By Technology (Web-based Technology, Cloud-based Technology), By End User (Clinics, Hospitals, Ambulatory Surgery Centres) North America held dominant position in the global teleradiology services market in 2020, accounting for 45.5% share in terms of value, followed by Europe and Asia Pacific, respectively.