TELERADIOLOGY MARKET ANALYSIS

Teleradiology MarketSize and Trends

The global teleradiology market was valued at US$ 6,089.8 Mn in 2022 and is forecast to reach a value of US$ 8,040.5 Mn by 2030 at a CAGR of 3.5% between 2023 and 2030. The global teleradiology market is experiencing strong growth owing to the increasing prevalence of target diseases and growing geriatric population around the world. Furthermore, the outbreak of COVID-19 (pandemic) and increasing use/adoption of teleradiology is expected to boost the growth of the market. However, factors such as data breach and cybersecurity risks and lack of security for data imaging are expected to hamper growth of the teleradiology market.

Global Teleradiology Market Trends:

Adoption of AI in teleradiology is a recent trend

Artificial intelligence (AI) is one of the most promising breakthroughs in the field of teleradiology. The past few years have seen an increase in the adoption of AI in the field of teleradiology across the globe. Artificial intelligence can help radiologists by rapidly analyze images and data registries, achieve better understanding of patient's condition, increase their clinical role, and become the part of the core management team. This trend is expected to continue during the forecast period, driving the growth of the global teleradiology market.

Technological advancements is another trend

Players in the market are focusing in developing and launching novel or technologically advanced teleradiology devices/services. In August 2022, 5C Network announced the launch of its artificial intelligence-powered platform called Prodigi. This state-of-the-art platform enables teleradiology at a massive scale, and makes it possible for diagnostic centers and hospitals to submit scans and access reports directly on the cloud-based platform. This trend is also expected to continue during the forecast period, driving the growth of the market.