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Teleradiology Software Market – By Type, By Mode of Delivery, By End Use – Global Forecast, 2024 – 2032
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Teleradiology Software Market
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Premium Report Details
Base Year: 2023
Companies covered: 15
Tables & Figures: 104
Countries covered: 19
Pages: 135
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Teleradiology Software Market Size
The global teleradiology software market size was valued at around USD 2.1 billion in 2023 and is estimated to grow at 11.5% CAGR from 2024 to 2032. Teleradiology software is a form of information technology that enables the transmission of radiologic images such as medical X-rays, CT scans, MRIs, and ultrasounds through the internet for diagnosis and consultation from a distance.
It allows different healthcare providers to work together regardless of their physical locations. It is crucial for facilities that are in rural or neglected places and do not have nearby radiology practitioners. One of the main reasons for the teleradiology software market growth is the growth of chronic diseases and the elderly population. For instance, according to the World Health Organization, the number of people aged 60 years and above will amount to 2.1 billion by the year 2050, an increase from 1 billion in 2020. This change in population structure is going to increase the need for more diagnostic imaging offerings.
In addition to that, continuous changes in imaging technology and communication systems have resulted in higher quality and faster results of teleradiology services. The application of Artificial Intelligence (AI) and Machine Learning algorithms in teleradiology software has improved the accuracy and efficiency of diagnosis greatly, thus increasing the adoption of the product and growing the market.
Additionally, the need for teleradiology has risen dramatically owing to the scarcity of radiologists in isolated or rural locations. As reported by the Royal College of Radiologists, the UK is short-staffed by about 31% of clinical radiologists, and this is expected to increase in the near future. Remote radiology has also changed the way healthcare facilities operate by enabling access to the professional services of medical imaging specialists, thus transforming patient care and eliminating circumstances in which patients would remain undiagnosed for prolonged periods.
Furthermore, with the onset of COVID-19 came the greater reliance on telemedicine services, including teleradiology. There was increased need for remote diagnostics while wanting to limit physical interactions, showcasing the effectiveness of teleradiology software in providing consistent healthcare service during crisis, and that is why the assertion telemedicine software market is further expected to grow is accurate.
Teleradiology Software Market Trends
Teleradiology Software Market Analysis
Based on type, the market is segmented into radiology information system, picture archive and communication system (PACS), and vendor neutral archive (VNA). The picture archive and communication system segment dominated the market with the largest revenue of USD 1.1 billion in 2023 and is expected to grow at a significant CAGR over the forecast period.
Based on mode of delivery, the teleradiology software market is segmented into web-based, cloud-based, and on-premises. The cloud-based segment of the market, which held a 47.4% share in 2023, is poised for substantial growth in the coming years.
Based on end use, the teleradiology software market is segmented into hospitals, clinics, and other end users. The hospitals segment of the market, which held a 67.5% share in 2023, is poised for substantial growth in the coming years.
The U.S. dominated the North American teleradiology software market with the largest revenue of USD 625.4 million in 2023 and is projected to witness substantial growth over the forecast period.
The teleradiology software market in the UK is expected to experience significant and promising growth from 2024 to 2032.
Asia Pacific teleradiology software market is anticipated to witness lucrative growth between 2024 and 2032.
The teleradiology software market in Saudi Arabia is expected to experience significant and promising growth from 2024 to 2032.
Teleradiology Software Market Share
The global market is competitive, with many initiatives geared towards new product developments and collaborations among major players including Philips Healthcare, Siemens Healthineers, GE Healthcare, Agfa-Gevaert Group and FUJIFILM Holdings Corporation. These companies enjoy the largest market shares because of their reputation in the medical imaging industry, network of distribution, and advanced diagnostic imaging solutions.
Emerging markets like those in Asia-Pacific and Latin America are appealing to them because infrastructure development coupled with the high demand for remote diagnostics presents a unique opportunity. An example of this is Siemens Healthineers, who has tailored its solutions and is now investing in partnerships within the region. In fact, as AI and cloud computing technologies evolve, the current level of competition is expected to rise because of the increased expectations for accessible, efficient, and secure diagnostic solutions. Thus, the software used for teleradiology is bound to change.
USPs for the top market players
Teleradiology Software Market Companies
Some of the eminent market participants operating in the teleradiology software industry include:
Teleradiology Software Industry News:
The teleradiology software market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 – 2032 for the following segments:
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Market, By Type
Market, By Mode of Delivery
Market, By End Use
The above information is provided for the following regions and countries: