Business Health Industry

Teleradiology Market is Expected to Expand at a CAGR of 11.3% from 2015 to 2023

Press Release

It is predicted that the global Teleradiology Market will have a good run in the future because of the development of sundry wireless technologies that can transfer images continuously and quickly. All the institutions in the world that deal with afterhours imaging services across the globe that have varying time zones yet offer day time reporting are predicted to boost the global teleradiology market to a great extent. Due to high transmission rates along with fast improvements in digital image processing methods, sundry wireless technology can provide immense benefits to this market globally. Another factor that is predicted to bolster the growth of the teleradiology market worldwide is the high rise in the healthcare expenditure.

Some hurdles in the global teleradiology market are the high expenditures related to technology, less image data security, as well as lack of skilled technicians and radiologists. However, teleradiology market is predicted to be back on track because of the promotion in digital infrastructure. Global teleradiology market had accounted for a total of US$1.7 bn in the year 2016, but it is predicted that towards the end of 2023 world teleradiology market will bring in around US$3.6 bn throughout the assessment period, thereby growing at a CAGR of 11.3%.

It is predicted that computed tomography scan technology will account for a total of US$1.23 bn at the end of the assessment period, thereby registering a high CAGR in this market. Computed tomography is also known as CT scan which is powerful imaging technology with the help of which complex bodily structures can be seen. In the global teleradiology market, ultrasound imaging is expected to be second in terms of revenue generators by mortality because of less exposure to radiation, as well as increased awareness among patients. Ultrasound imaging is also very important for tracking foetal development as well as in identifying any abnormalities safety and securely.

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On the basis of geography, Asia Pacific is predicted to have one of the highest CAGR’s by registering 12.1% in this market globally between 2015 and 2023. The reason behind the highest CAGR of Asia-Pacific is ascribed to the advancement in technological development in Japan that are equal to the innovations of emerging economies like the United States and United Kingdom.

The favourable steps taken by the government, favourable health care policies, as well as quick technological improvements are attributed for the high demand in the Asia Pacific teleradiology market. Other important nations for the global teleradiology market are India, China, Australia, and New Zealand. However, on the basis of revenue, North America is predicted to be much ahead as it is predicted to hold the largest share globally. It is expected that North America will continue to be at the top for the teleradiology market.

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