Global teleradiology market to grow significantly by 2032, driven by technology advancements and demand
From GlobeNewswire: 2024-12-09 08:00:00
The global teleradiology market was valued at USD 12.67 billion in 2023 and is projected to reach USD 96.72 billion by 2032, with a CAGR of 25.36%. Factors driving this growth include the rapid adoption of telemedicine, advancements in AI, high-speed data transmission, and a growing shortage of radiologists.
The teleradiology market is experiencing significant expansion, fueled by the increasing demand for remote diagnostic imaging services, particularly in underserved regions. Integration of AI in image interpretation and cloud computing technologies are transforming the landscape of teleradiology, addressing the shortage of radiologists and enhancing efficiency.
X-ray imaging dominated the market in 2023, accounting for 40.0% of the market share, due to its affordability, versatility, and wide availability. MRI teleradiology services are the fastest-growing segment, driven by advanced imaging capabilities for diagnosing complex medical conditions. Preliminary reports reading and final reports reading are key segments driving growth in teleradiology services.
North America leads the teleradiology market due to its well-established healthcare infrastructure and high adoption of telemedicine technologies. Europe is seeing significant growth with rising investments in digital healthcare solutions. Asia Pacific is expected to grow at the highest rate, driven by increasing healthcare awareness and adoption of telemedicine solutions in countries like India, China, and Japan. The adoption of teleradiology services is increasing in response to healthcare challenges and a shortage of radiologists. Apollo Radiology International recently acquired InHealth Group’s radiology reporting division, Experity upgraded its services with AI technology for fracture detection, and Hexarad secured $14 million to expand its teleradiology platform.
These developments aim to improve diagnostic services, enhance remote capabilities, and address the growing demand for quality healthcare. The teleradiology market is expected to continue growing, with companies like Apollo Radiology International, Experity, and Hexarad leading the way in providing innovative solutions to meet the needs of healthcare organizations worldwide.
For more detailed insights and analysis on the teleradiology market, visit SNS Insider’s website to access the complete report and stay informed about the latest trends and advancements in the healthcare industry. SNS Insider is a leading market research and consulting agency that provides clients with the knowledge they need to navigate changing market conditions and make informed decisions for the future.
Read more at GlobeNewswire: Teleradiology Market to Reach USD 96.72 Billion by 2032,