According to a new report published by Allied Market Research, titled,”Teleradiology Market by Imaging Technique, Technology, and End User: Global Opportunity Analysis and Industry Forecast, 2018 – 2025,” the global teleradiology market accounted for $2,709 million in 2017 and is expected to reach $10,621 million by 2025 with a CAGR of 18.4% from 2018 to 2025. North America was the highest revenue contributor in 2017 and is anticipated to maintain the same trend throughout the forecast period.
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The report provides a comprehensive analysis of the leading companies operating in the global teleradiology market such as Siemens AG, 4ways Limited, Global Diagnostics Limited, Mednax, Inc., Koninklijke Philips N.V., GE Healthcare, Everlight Radiology, Agfa-Gevaert Group, Radisphere National Radiology Group, Inc., and Fujifilm Medical Systems, Inc. The other players in the value chain (not included in the report) include Cybernet Medical Corporation, Spectra AB, Medica Reporting Ltd., Radiology Reporting Online (RRO), Sectra Imtec AB, StatRad, LLC, Ramasift Inc., and Alta Vista Teleradiology.
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- The radiology information system (RIS) of software segment is anticipated to grow at the highest rate with a CAGR of 19.2% during the forecast period.
- The U.S. was the major shareholder in the North America teleradiology market and accounted for the highest share in 2017.
- Based on technology, the software segment is expected to grow at a CAGR of 18.1 % during the forecast period.
- Based on end user, the hospitals segment held a remarkable position in 2017, registering a CAGR of 17.0 % from 2018 to 2025.
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The prime factor that drives the teleradiology market growth includes imbalance between the demand and availability of radiological services. Lack of timely diagnostic services causes a major problem for clinicians during emergencies, especially night hours, which further contributes to fuel the teleradiology market size globally to initiate proper treatment at the earliest.
Based on teleradiology market trends by application, the CT scan segment accounted for the majority of teleradiology market share of the global market in 2017. This is attributed to the surge in number of institutes installing CT scanners and the capability to scan complex body structures such as lungs, brain, and cardiac cavities.
Based on end user, the ambulatory surgical centers segment generated the maximum revenue in 2017, and is anticipated to exhibit prominent growth during the forecast period. This is attributed to the fact that these centers offer improved efficiency in health care delivery, allowing patients to spend less time in the health care setting.
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