Driven by multiple technology and population-related factors, the global teleradiology market will grow to produce $8.24 billion U.S. (7.26 billion euros) in revenues by 2024, according to a new report by market research firm Grand View Research.
The teleradiology market will benefit from the technology's ability to facilitate intervention of specialists from different locations for critical cases, as well as a growing geriatric population with an increasing prevalence of diseases, according to Grand View Research. Other positive factors for teleradiology include a dearth of specialized radiologists in rural hospitals and government initiatives to encourage the use of teleradiology in clinics and hospitals in emergency situations, the company said.
Grand View Research also pointed to teleradiology's ability to enable consultations on critical cases with other radiologists, as well as to support outsourcing of radiology services for small-scale hospitals or hospitals in underserved communities.
On a per-segment basis, the x-ray sector dominated the teleradiology market in 2015 with a 30% share of the revenue, thanks to applications such as detecting factures in bones or dental injuries and the increasing demand for core diagnostics and bedside imaging, Grand View said.
However, the fastest growth is expected to come from the CT teleradiology segment, which is slated to grow at a compound annual growth rate of 20% until 2024. This increase will be driven by teleradiology advantages such as enabling high-resolution imaging capacity and faster testing rates, Grand View said. The firm believes the market will also benefit from the introduction of new software that can support 3D and 4D.
On a regional basis, North America led the teleradiology market in 2015, Grand View said. In the Asia-Pacific teleradiology sector, demand over the forecast period is expected to be driven by supportive government regulations for the expansion of teleradiology and faster technology adoption, according to the company.
