Teleradiology Software Market – Shortage Of Radiologists In Various Countries & Rising Prevalence Different Types Of Disease To Drive The Market Growth | Grand View Research Inc.

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Teleradiology Software Market – Shortage Of Radiologists In Various Countries & Rising Prevalence Different Types Of Disease To Drive The Market Growth | Grand View Research Inc.

February 05
22:20 2021
Teleradiology Software Market - Shortage Of Radiologists In Various Countries & Rising Prevalence Different Types Of Disease To Drive The Market Growth | Grand View Research Inc.

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According to a report published by Grand View Research, the shortage of radiologists in major countries, such as the U.S. and India coupled with the rising prevalence of chronic diseases, such as cancer, liver disorders, and spinal cord injuries are major drivers boosting the growth of the market.

According to a report, “Teleradiology Software Market Size, Share & Trends Analysis By Type (Radiology Information System, PACS, VNA), By Deployment (Web-based, Cloud-based, On-Premise), And Region, And Segment Forecasts, 2019 – 2025” published by Grand View Research, Inc., the global teleradiology software market size is expected to reach USD 2.4 billion by 2025, expanding at a CAGR of 8.1% over the forecast period. The shortage of radiologists in countries such as the U.S. and India is one of the prominent growth drivers.

The rising prevalence of cancer, heart disease, bone disorders, and other chronic diseases is anticipated to drive the demand for medical imaging. As per the data published by the National Cancer Institute, in 2018, nearly 1,735,350 new cases and around 609,640 deaths caused by cancer were anticipated to be registered in the U.S. Thus, an increasing number of radiology centers and hospitals are adopting teleradiology solutions, providing growth opportunities for the market.

The companies operating in the market engage in new product launches, product upgrades, mergers and acquisitions, and geographical expansion to enhance their market position. In July 2019, Comarch SA opened its office in Australia to expand its business in the country and to strengthen its international presence. The company is also focusing on developing hosting services portfolio for its present and future clients in Australia.

U.K. teleradiology software market size, by type, 2014 - 2025, (USD Million)

Teleradiology Software Market Report Highlights

  1. On the basis of type, the PACS software segment in 2018 accounted for a value of USD 678.35 million. This enormous growth can be attributed to the rise in medical diagnostic procedures and the growing adoption of remote patient monitoring, which has increased the adoption of PACS software among healthcare providers.

  2. Vendor Neutral Archive (VNA) is anticipated to register the fastest CAGR of 9.46% over the forecast period. The rising need to easily share medical imaging information among healthcare providers is one of the key factors boosting the demand for VNA.

  3. On the basis of deployment, the web-based segment held the largest revenue share in 2018 owing to the large customer pool and benefits associated with web-based software such as remote data accessibility.

  4. North America held the largest revenue share in 2018, due to the high adoption of teleradiology services, shortage of radiologists, presence of prominent market players, and the existence of well-established healthcare IT infrastructure.

  5. The Asia Pacific region is projected to be the most lucrative region over the forecast period. A high unmet medical need, resulting from the prevalence of targeting chronic diseases such as cancer and cardiac diseases, propels the demand for medical imaging in the region.

  6. In November 2020, Google and Claritas partnered to launch a teleradiology product known as tRAD. The product jointly developed by Google’s Cloud Healthcare API and Singapore-based Claritas HealthTech allows telehealth companies to add imaging into their workflow via Google’s application programming interface.

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Teleradiology Software Market Segmentation

Grand View Research has segmented the global teleradiology software market on the basis of type, deployment, and region:

Teleradiology Software Type Outlook, (Revenue, USD Million, 2014 – 2025)

  1. Radiology Information System (RIS)

  2. Picture Archive and Communication System (PACs)

  3. Vendor Neutral Archive (VNA)

Teleradiology Software Deployment Outlook, (Revenue, USD Million, 2014 – 2025)

  1. Web-based

  2. Cloud-based

  3. On-Premise

Teleradiology Software Regional Outlook (Revenue, USD Million, 2014 – 2025)

  1. North America 

    1. The U.S.

    2. Canada

  2. Europe 

    1. The U.K.

    2. Germany

    3. Spain

    4. Italy

    5. France

    6. Russia

  3. Asia Pacific 

    1. China

    2. Japan

    3. India

    4. Australia

    5. Singapore

    6. South Korea

  4. Latin America 

    1. Brazil

    2. Mexico

    3. Argentina

  5. Middle East & Africa

    1. South Africa

    2. Saudi Arabia

    3. UAE

Key Players in the Teleradiology Software Market

  1. Carestream Health

  2. Telerad Tech

  3. Comarch SA

  4. Medsynaptic Pvt Ltd

  5. Perfect Imaging LLC

  6. Impose Technologies Pvt Ltd.

  7. Radical Radiology

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About Grand View Research

Grand View Research is a full-time market research and consulting company registered in San Francisco, California. The company fully offers market reports, both customized and syndicates, based on intense data analysis. It also offers consulting services to business communities and academic institutions and helps them understand the global and business scenario to a significant extent. The company operates across multitude of domains such as Chemicals, Materials, Food and Beverages, Consumer Goods, Healthcare, and Information Technology to offer consulting services.

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