An Incisive, In-depth Analysis on the Teleradiology Market
This study offers a comprehensive, 360 degree analysis on the Teleradiology market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Teleradiology market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.
Rising cases of cancer, orthopaedic and other chronic diseases likely to impact the global teleradiology market
A rising prevalence of cancer is one of the major reasons driving an increase in revenue growth of the global teleradiology market. According to the National Institute of Cancer, about 449 new cancer cases per 100,000 men and women are diagnosed each year in the U.S. Also, approximately 39% of men and women are expected to be diagnosed with cancer during their lifespan. The American Society of Clinical Oncology estimates that approximately 4000 children and teenagers and nearly 24,000 adults in the U.S. were expected to have either brain or central nervous system cancer in the year 2016. That is why the global teleradiology market serves a vital life-saving function and benefits both doctors and patients.
Advancements in digital technology will boost the global teleradiology market
Informatics systems linked to the global teleradiology market allow the rapid transfer of high-quality images to the desired users or their location and this helps the image to be properly interpreted by the healthcare consultant. Rapid improvements in digital image processing technology enables images to be effectively distributed across the globe. With advanced technology leading to better transmission capability, the global teleradiology market has increased in size and scale with worldwide centres providing 24/7 reporting for emergency imaging in countries in different time zones.
Lack of imaging data security a significant barrier in the global teleradiology market
Teleradiology consists of the transfer of imaging data across national boundaries, for which maintaining data security and confidentiality is absolutely vital. The lack of an efficient method to secure data could significantly impact the growth of the global teleradiology market. For the purpose of safeguarding data from theft, there is a pressing need for robust data encryption technology and virtual private networks. The lack of robust technologies and data security tools could impede the growth of the global teleradiology market.
CT Scans was the largest segment by modality in the global teleradiology market in 2016
By modality, the CT Scans segment accounted for more than 25% of the revenue share of the global teleradiology market in 2016 and it is expected to gain a massive 662 basis points by the year 2026 over 2016. CT scans are extremely beneficial to diagnose both cancer and orthopaedic diseases and this should boost market demand over the duration of the forecast period. The market attractiveness index of the CT Scans segment is 2.9 over the decade 2016-2026, making CT Scans the most attractive segment by modality in the global teleradiology market. By the year 2026, the CT Scans segment is anticipated to account for a market share of almost 35%. In terms of value, the CT Scans services market was valued at over half a billion dollars in 2016 and this should rise to nearly US$ 4.6 Bn by the year 2026, registering a substantial CAGR of 23.6%.
CT Scans segment leads the U.S teleradiology market and should remain the leading segment throughout the forecast period
The CT Scans segment held approximately 28% revenue share of the U.S teleradiology market in 2016 and is anticipated to gain 874 basis points by the year 2026 as compared to 2016. The CT Scans segment dominated the U.S. teleradiology market in revenue terms in 2015 and is projected to continue to do so throughout the forecast period. It is the most attractive segment in the U.S teleradiology market, recording an attractiveness index of 3.0 over the forecast period. With a CAGR of 25.7%, the U.S CT Scans services market will be worth almost US$ 2 Bn by the year 2026, making it a highly lucrative segment of the global teleradiology market.
In the upcoming report prepared by Future Market Insights titled ‘Teleradiology Market: Global Industry Analysis and Opportunity Assessment, 2016–2026’, we have studied the global teleradiology market for a 10 year period from 2016 – 2026. Our analysts have taken the help of several key metrics and given their expert opinion on both the current scenario as well as the anticipated trends likely to define the global teleradiology market by the end of the forecast period.
We have divided the global teleradiology market into two main geographic regions – U.S. and Outside U.S. (OUS). The latter is further subdivided into five regions – Latin America, Europe, APEJ, Japan and Rest of the World. The global teleradiology market report clearly mentions the BPS, Y-o-Y growth projections, market attractiveness and prominent trends that are likely to impact each geographic region. For regions outside the U.S, the prominent countries in each region have been highlighted and this can be quite helpful in understanding which region of the global teleradiology market key stakeholders can target to gain the maximum return on their investment. An important section that can be read in tandem with the regional analysis is the global teleradiology market dynamics. We have spoken at length about the macro-economic factors that impact the global teleradiology market, drivers from both the supply and demand side and the restraints challenging market growth. The opportunities that can be tapped, the relevance and impact of certain forecast factors in the global teleradiology market are all mentioned here. In addition to this, there may be some key regulations that can affect the global teleradiology market, for better or for worse. They are given at the close of this all-important section.
The global teleradiology market report begins with an executive summary that is a brief yet clear snapshot of the global teleradiology market. A brief global teleradiology market overview, vital metrics such as CAGR, market value in terms of U.S dollars and the revenue split on the basis of modality, end users, and region is provided. The executive summary emphasizes the overall global teleradiology market approach and the major geographies to target along with a laser-like focus on the differentiating strategies that could be adopted to truly thrive in the global teleradiology market. The report then moves onto the global teleradiology market introduction that is succinct yet sufficient. The introduction includes the market definition that can aid readers to understand the global teleradiology market from the grassroot level. The introduction is followed by the global teleradiology market taxonomy.
By End User
Competition analysis is absolutely vital in a market as competitive as the global teleradiology market. That is the primary objective of the competition dashboard landscape section. We have profiled 25 prominent global teleradiology market players by outlining their company details, key product offerings, and major developments. This can be immensely beneficial for any stakeholder wishing to enter the global teleradiology market as a SWOT analysis of the competition can be quickly conducted in this informative section.
While preparing the global teleradiology market report, we have used a few acronyms for simplicity and a few reasonable assumptions pertaining to the global teleradiology market have been made. These have been adequately explained in a separate section of the global teleradiology market report and our readers would be well advised to refer to this section before they begin an in-depth study of the report.
Best-in-class Research Methodology
Future Market Insights has pioneered a unique research methodology that has been deployed to prepare the global teleradiology market report. Our analysts begin with extensive primary and secondary research by making a list of global teleradiology market players across the value chain that comprise manufacturers, distributors, and retailers. A questionnaire for every node is made to gain the required information pertaining to the global teleradiology market. After all the data has been gathered, we validate it exhaustively using the triangulation method where primary and secondary data is combined with our expert analysis. The final output is then thoroughly scrutinised with the help of proprietary tools to extract both qualitative and quantitative insights into the global teleradiology market.