Pune, India -- (SBWIRE) -- 05/13/2019 -- Our latest research report entitled Teleradiology Market (by-product (x-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), nuclear imaging), application (tele-diagnosis, tele-consultation, tele-monitoring)) provides complete and deep insights into the market dynamics and growth of teleradiology. Latest information on market risks, industry chain structure teleradiology cost structure and opportunities are offered in this report. The past, present and forecast market information will lead to investment feasibility by studying the essential teleradiology growth factors. According to the report, the global teleradiology market is projected to grow at a CAGR of 19.1% over the forecast period of 2018-2024.

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Teleradiology Market: Insight

Teleradiology is the branch of telemedicine in which telecommunication systems are used to transmit radiological images of patients. Teleradiology is the transmission of radiological images, such as x-rays, CTs, and MRIs, from one location to another for the purposes of sharing studies with other radiologists and physicians. In addition, teleradiology uses standard network technologies such as the internet, telephone lines, Wide area network, and local area network and cloud computers for the transmission of images. One of the greatest advantages of using teleradiology services is that it allows hospitals and diagnostic centers to treat patients round the clock. The benefits offered by teleradiology includes improved access to care that is this technology is anticipated to play a significant role in improving service to rural areas and has the potential to improve the current shortage of radiologists. On the other hand, after hour service is also being provided in order to provide medical facilities and reliving the radiologist from the burden of being on-call at night.

Teleradiology Market: Drivers and Restraints

Before the internet age, teleradiology mostly involved consulting individual radiologists over the phone for emergent cases. Teleradiology is an emerging field that has the potential to benefit both patients and healthcare service providers immensely as it helps eliminate distance barriers and improve access to quality health services or information that otherwise are not available in rural and distant communities. In addition, up gradation of technology that is being used in picture archiving and communication systems and taking the second opinion from the specialist in the emergency case is strengthening the growth of the teleradiology market. Furthermore, the increasing prevalence of long-term diseases such as cellulitis, osteomyelitis, and breast cancer in less developed areas drives the growth of the teleradiology market.

However, high expenditure towards technology as well as lack of skilled technicians and radiologist is likely to curtail the growth of the teleradiology market. Furthermore, recent advancements in web-based technology in healthcare systems especially the wireless image transmission systems are creating several opportunities for the key players in the teleradiology market over the years to come. On the other hand, the teleradiology groups are working with several specialists and sub-specialist such as Neuroradiologists, Musculoskeletal radiologists, Abdomen and Pelvic imaging specialists and cardiac radiology. Here, the patient's scanned reports are sent to various specialists thereby the hospital treating the patient gets the best specialist report in the particular specialty. This, in turn, is creating a positive influence on the market to grow over the upcoming years.

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Teleradiology Market: Regional Analysis

Among the geography, North America dominated the global teleradiology market. The growth in the North American region is due to the availability of technology-enabled healthcare platforms. Moreover, the Health Care Financing Administration (HCFA) in the US mandates round-the-clock services in every hospital. The Asia Pacific is anticipated to be the fastest growing region owing to the rapidly increasing medical platforms along with growing healthcare infrastructure. Besides this, increasing government initiatives, large target population base, and strategic global expansions are motivating the growth of this market in this region.

Teleradiology Market: Segmentation

The report on global teleradiology market covers segments such as product and application. On the basis of product, the global teleradiology market is categorized into x-ray, ultrasound, magnetic resonance imaging (MRI), computed tomography (CT), and nuclear imaging. On the basis of application, the global teleradiology market is categorized into telediagnosis, teleconsultation, and telemonitoring.

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Teleradiology Market: Competitive Landscape

The report provides profiles of the companies in the global teleradiology market such as Everlight Radiology, Global Diagnostics, ONRAD, Inc, Agfa-Gevaert Group, Virtual Radiologic (vRad), HealthWatch TeleDiagnostics Pvt. Ltd., USARAD Holdings, Inc., RamSoft, Inc., 4ways Healthcare Ltd, and Cybernet Medical Corporation.

Report Findings

1. Drivers

- Benefits of both Patients and Healthcare Service Providers Immensely.

- Up-Gradation of Technology.

- Increasing Prevalence of Long-term Diseases.

2. Restraints

- High Expenditure On Technology.

- Lack of Skilled Technicians.

3. Opportunities

- Teleradiology Groups are Working with Several Specialists and Sub-specialist.

- After Hour Service is also Being Provided.