Press release
Teleradiology Market to Hit $36.67 Billion by 2029, More than $27 Billion Opportunities to Unlock for Industry Players in the Next 6 Years - Arizton
Teleradiology Market Research Report by Arizton
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Report Scope:
Market Size (2029): $36.67 Billion
Market Size (2023): $9.40 Billion
CAGR (2023-2029): 25.47%
Historic Year: 2020-2022
Base Year: 2023
Forecast Year: 2024-2029
Market Segmentation: Product Type, Services, Imaging Technologies, Applications, End-Users, and Geography
Geographical Analysis: North America, Europe, APAC, Latin America, and Middle East & Africa
The global teleradiology market, a key segment of telemedicine, is experiencing significant growth and is expected to continue at a robust pace during the forecast period. This surge is primarily driven by the rising burden of chronic diseases and the associated demand for medical imaging diagnostics. Additionally, a shortage of radiologists, increased digitalization in healthcare, and a growing preference for virtual and remote care are further propelling market expansion.
In 2023, the services segment dominated the market, accounting for over 70% of the total share, and is projected to achieve the highest compound annual growth rate (CAGR) of 25.92% from 2024 to 2029. Teleradiology services are increasingly contracted by large health systems-including hospitals, clinics, and outpatient centers-enhancing the uptake and delivery of these services. Key offerings within this segment include general consultations, nighthawk services, emergency readings, and second opinions, all contributing to its growth.
Recent Vendors Activities
* In 2024, Australia and New Zealand's I-med Radiology acquired StatRad, one of the largest teleradiology service providers in the US. This acquisition will help I-Med to enter the US teleradiology market.
* In 2024, HealthEdge announced an investment in Redsource, LLC, to enter the teleradiology market.
* In 2023, Rology- a leading company with an AI-assisted teleradiology platform in MEA, received 510 K clearance from the US Food and Drug Administration for its teleradiology platform as a Class 2 medical imaging management and processing system. It is the world's premier FDA-approved 2-sided and on-demand teleradiology solutions.
Key Vendors
* Koninklijke Philips
* Radiology Partners
* Teleradiology Solutions
* Everlight Radiology
* Agfa-Gevaert Group
* 4ways Healthcare Limited
* Cloudex Radiology
* Cerner
* FUJIFILM Corporation
* ONRAD
* RamSoft
* Telediagnosis Solutions
* Telerad Tech
* StatRad
* MedWeb
* WebRad
* 5C Network
* Doctor-NET
* Telemedicine Clinic
* NightHawk Radiology
* Vesta Teleradiology
* IK Partners
* Myfair
* Voyager Imaging
* Radmedic Group
* Specialty Teleradiology
* Real Rads
* NEXTRAD
* Matrix Imaging Solutions
* I-MED Radiology Network
* Radsource
* Rology
* Experity
* USRAD.COM
* Sirona Medical
* Siemens Healthineers (Siemens Healthcare GmbH)
Segmentation & Forecast
Product Type
* Services
* Hardware & Software
Services
* General Consultations
* Nighthawk & Emergency
* Specialty/Elective
* Second Opinions
Imaging Technology
* Ultrasound
* Radiography
* CT
* MRI
* Mammography
* PET/SPECT
* Others
Applications
* Cardiology
* Orthopedic
* Oncology
* Neurology
* Gastroenterology
* Dental
* Obstetrics & Gynecology
* Other Applications
End-Users
* Hospitals
* Diagnostic Imaging Centers & Labs
* Ambulatory and Urgent Care Centers
* Other End-users
Geographical Overview
The teleradiology market in North America is experiencing rapid growth and is expected to dominate during the forecast period. This expansion is driven by several factors, including the region's advanced healthcare infrastructure, reimbursement coverage for telemedicine, and supportive government initiatives promoting digital health.
Key contributors to the market's growth include technological advancements in mobile health technology, increased awareness of telehealth benefits, and a shift toward value-based healthcare and population health management. The region is also facing a significant shortage of radiologists, prompting healthcare facilities to adopt teleradiology solutions to alleviate the pressure of long working hours on existing professionals.
Notably, North America has become a central hub for companies offering a wide range of teleradiology solutions tailored to various healthcare settings. The United States, in particular, has seen substantial market growth, with the adoption of teleradiology services skyrocketing from 19% in 2019 to 78% by 2021, highlighting a notable shift in acceptance before and after the COVID-19 pandemic.
Geography
* North America
* The U.S.
* Canada
* Europe
* Germany
* The U.K.
* France
* Italy
* Spain
* Netherlands
* Poland
* APAC
* Japan
* China
* India
* Australia
* South Korea
* Latin America
* Brazil
* Mexico
* Argentina
* Middle East & Africa
* Turkey
* Saudi Arabia
* The UAE
* South Africa
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Key Questions Answered in the Report:
How big is the global teleradiology market?
What is the growth rate of the global teleradiology market?
What are the key opportunities in the global teleradiology market?
Which region dominates the global teleradiology market?
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Arizton Advisory and Intelligence is an innovative and quality-driven firm that offers cutting-edge research solutions to clients worldwide. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on consumer goods & retail technology, automotive and mobility, smart tech, healthcare, life sciences, industrial machinery, chemicals, materials, I.T. and media, logistics, and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
Arizton comprises a team of exuberant and well-experienced analysts who have mastered generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.
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Contact Person: Jessica
Email:Send Email [https://www.abnewswire.com/email_contact_us.php?pr=teleradiology-market-to-hit-3667-billion-by-2029-more-than-27-billion-opportunities-to-unlock-for-industry-players-in-the-next-6-years-arizton]
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Website: https://www.arizton.com/market-reports/teleradiology-market
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