According to a report, “Teleradiology Software Market Size, Share & Trends Analysis By Type (Radiology Information System, PACS, VNA), By Deployment (Web-based, Cloud-based, On-Premise), And Region, And Segment Forecasts, 2019 - 2025” published by Grand View Research, Inc., the global teleradiology software market size is expected to reach USD 2.4 billion by 2025, expanding at a CAGR of 8.1% over the forecast period. The shortage of radiologists in countries such as the U.S. and India is one of the prominent growth drivers.
The
rising prevalence of cancer, heart disease, bone disorders, and other chronic
diseases is anticipated to drive the demand for medical imaging. As per the
data published by the National Cancer Institute, in 2018, nearly 1,735,350 new
cases and around 609,640 deaths caused by cancer were anticipated to be
registered in the U.S. Thus, an increasing number of radiology centers and
hospitals are adopting teleradiology solutions, providing growth opportunities
for the market.
The
companies operating in the market engage in new product launches, product
upgrades, mergers and acquisitions, and geographical expansion to enhance their
market position. In July 2019, Comarch SA opened its office in Australia to
expand its business in the country and to strengthen its international
presence. The company is also focusing on developing hosting services portfolio
for its present and future clients in Australia.
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Teleradiology
Software Market Report Highlights
- On the
basis of type, the PACS software segment in 2018 accounted for a value of USD 678.35
million. This enormous growth can be attributed to the rise in
medical diagnostic procedures and the growing adoption of remote
patient monitoring, which has increased the adoption of PACS software
among healthcare providers.
- Vendor Neutral
Archive (VNA) is
anticipated to register the fastest CAGR of 9.46% over the forecast
period. The rising need to easily share medical imaging information among
healthcare providers is one of the key factors boosting the demand for
VNA.
- On the
basis of deployment, the web-based segment held the largest revenue share in 2018 owing to
the large customer pool and benefits associated with web-based software
such as remote data accessibility.
- North
America held the
largest revenue share in 2018, due to the high adoption of teleradiology
services, shortage of radiologists, presence of prominent market players,
and the existence of well-established healthcare IT infrastructure.
- The Asia
Pacific region is projected to be the most lucrative region over
the forecast period. A high unmet medical need, resulting from the
prevalence of targeting chronic diseases such as cancer and cardiac
diseases, propels the demand for medical imaging in the region.
- In
November 2020, Google
and Claritas partnered to launch a teleradiology product known as
tRAD. The product jointly developed by Google’s Cloud Healthcare API and
Singapore-based Claritas HealthTech allows telehealth companies to add
imaging into their workflow via Google’s application programming
interface.
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Teleradiology
Software Market Segmentation
Grand View Research has
segmented the global teleradiology software market on the basis of type,
deployment, and region:
Teleradiology
Software Type Outlook, (Revenue, USD Million, 2014 - 2025)
- Radiology Information System (RIS)
- Picture Archive and Communication System (PACs)
- Vendor Neutral Archive (VNA)
Teleradiology
Software Deployment Outlook, (Revenue, USD Million, 2014 - 2025)
- Web-based
- Cloud-based
- On-Premise
Teleradiology
Software Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Spain
- Italy
- France
- Russia
- Asia Pacific
- China
- Japan
- India
- Australia
- Singapore
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
Key Players in the
Teleradiology Software Market
- Carestream Health
- Telerad Tech
- Comarch SA
- Medsynaptic Pvt Ltd
- Perfect Imaging LLC
- Impose Technologies Pvt Ltd.
- Radical Radiology
About Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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