Published by mark itwired
Posted on October 4, 2021
5 min readLast updated: January 31, 2026
The teleradiology market is set to grow at a 12.18% CAGR by 2031, driven by increased medical imaging procedures and technological advancements.
As per a study by ESOMAR-certified consulting firm Future Market Insights (FMI), the global teleradiology market is expected to surpass a valuation of US$ 5.15 Bn through 2021. Favored by the increasing number of medical imaging procedures such as computed tomography (CT) scans and X-ray scans, the sales of teleradiology are likely to surge at a vigorous 12.18% CAGR during the assessment period.
Rising prevalence of diseases such as cancer, arthritis, cellulitis, and osteomyelitis are facilitating the market growth. According to the National Institute of Cancer, around 1898,160 new incidences of cancer are estimated to be diagnosed in 2021, causing approximately 608,570 deaths in the U.S.
As teleradiology enables the transfer of radiological images to qualified radiologists for providing effective treatments, it plays a life-saving function for patients. Thus, with the increasing number of cancer cases and lack of availability of skilled radiologists in sub-urban and rural areas, the demand for teleradiology systems is likely to increase over the coming year.
The coronavirus outbreak has favored the teleradiology market by increasing demand for medical imaging procedures across the globe. As the use of teleradiology systems avoids in-person contacts for the exchange of hard imaging result copies, these systems are increasingly being adopted by hospitals, medical institutes, and clinics for sharing study observations and details information gathered, thereby, driving teleradiology sales.
“Key players in the market are integrating novel technologies such as artificial intelligence (AI), cloud-based solutions, and picture archiving and communication system (PACS) for developing innovative teleradiology solutions as they aim at capitalizing on the increasing demand of accurate diagnosis,” says the FMI’s analyst.
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Sales of teleradiology systems are expected to rise at 9.10% between 2020 and 2021.
Teleradiology Solutions, Argus Radiology, SRL Diagnostics, USARAD Holdings, Inc., Vital Radiology Services, and Telemedicine Clinic are the leading players operating in the teleradiology market as profiled by FMI.
The teleradiology market is highly fragmented owing to the presence of large number of market players. Leading player emphasizing on launching the new products and expanding their product portfolio to gain competitive edge over other player. Besides, this some of the players are adopting strategies such as strategic collaboration, merger, acquisition, and partnership with other industry players to strength their market footprint. For instance,
In its latest report, FMI offers an unbiased analysis of the global teleradiology market, providing historical data for the period of 2016-2020 and forecast statistics for the period of 2021-2031. In order to understand the global market potential, its growth, and scope, the market is segmented on the basis of modality (X-Ray scans, CT scans, MRI scans, ultrasound scans, nuclear scan, cardiac echo, mammography, and electromammography), and end user (hospitals, clinics, ambulatory surgical centres, and radiology centres), across U.S. and Other than U.S. (Latin America, Europe, Asia Pacific excluding Japan, Japan, and Rest of the World)
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The teleradiology market is expected to surpass a valuation of US$ 5158.6 Mn in 2021
The teleradiology market witnessed a robust Y-o-Y growth at 9.10% CAGR in 2021.
The teleradiology market witnessed vigorous growth at 21% CAGR between 2016 and 2020.
Rising demand for teleradiology owing to increasing shift towards value-based health care model and reforming healthcare IT spending structure.
Teleradiology Solutions, Argus Radiology, SRL Diagnostics, USARAD Holdings, Inc., Vital Radiology Services, and Telemedicine Clinic are the top players leading the teleradiology market.
The post Teleradiology Market sales poised to increase at an impressive CAGR of 12.18% by 2031 appeared first on Market Research Blog.
The article discusses the growth of the teleradiology market, projected to expand at a 12.18% CAGR by 2031.
Increased medical imaging procedures and technological advancements are key drivers of market growth.
The U.S. leads in North America, while China is prominent in the Asia Pacific region.
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