The global teleradiology market is expected to reach USD 10,621 million by 2025 with a CAGR of 18.4 percent from 2019 to 2025, predicts Allied Market Research. Teleradiology is an advanced technology that has emerged owing to the imbalance between demand and availability of diagnostic services. This is evident from the fact that high demand for radiology services in countries, such as the US, Singapore, and the UK, was often unfulfilled owing to dearth of skilled and specialized professionals specific to teleradiology. For instance, there is an increase in the number of CT scans being performed in the US; however, there is a persisting shortage of radiologists in the country. In addition, in Singapore, there is a scarcity of radiologists for night coverage, while in the UK, a radiologist takes 21 days on an average to submit an MRI report. All these challenges were met by teleradiology and thereby led to the growth of tele-based technologies and surge in demand for teleradiology techniques globally. Increase in demand for radiological services, high prevalence of chronic diseases, such as congestive heart failure and orthopedic injuries, are the major factors that propel the growth of the teleradiology market. In addition, significant increase in government expenditure on healthcare information (HCIT) sector and rise in focus of key players toward bringing innovation to digital diagnostics further fuel the market growth. However, low availability of broadband networks and shortage of skilled radiologists restrain the market growth. Moreover, continuous advancements in medical diagnostic technologies are expected to provide lucrative opportunities for the growth of teleradiology market in near future.
The computed tomography (CT) segment was the largest contributor to the teleradiology market, with surge in the number of institutes installing CT scanners and teleradiology-based CT. Moreover, capability of CT scan to scan complex body structures such as lungs, brain, and cardiac cavities propels the market growth. However, the nuclear-imaging segment is anticipated to grow at the fastest rate during 2019 to 2025. This is attributed to the technological advancements, increase in diagnostic applications in several diseases, such as cancer and cardiovascular diseases, government support, and shift from standalone to hybrid modalities.
North America dominated the market in 2018, accounting for the highest share, and is anticipated to maintain this trend over the next 6 years. This is attributed to increased funding by government agencies and rise in focus toward use of teleradiology services in diagnostic centers, ambulatory surgical centers, hospitals, and others, in this region. However, Asia-Pacific is projected to register the highest growth rate from 2019 to 2025.