The size of the Asia Pacific Teleradiology Market was around USD 0.35 billion in 2021. It is expected to grow at a CAGR of 19.2% between 2021 to 2026 and be worth USD 0.83 billion by 2026. Thus, it captures 20% of the global market.
Teleradiology is the practice of transmitting radiological patient picture diagnoses, such as x-rays, CT scans, and MRI scans; using network technology, data is transferred from one location to another to share research with other radiologists and physicians.
Teleradiology enhances patient care by lowering the distance barrier, allowing radiologists to provide services and care for patients without physically being present at the patient’s location. In addition, there are numerous advantages to employing teleradiology services, such as lower costs, expanded coverage, and rapid interpretations. The aforementioned factors are expected to drive the APAC teleradiology market during the forecast period.
The rising number of imaging operations, the development of IT infrastructure, the rising prevalence of osteoarthritis and chronic diseases further contribute to the teleradiology market’s growth in the APAC region. Furthermore, during the forecast period, the demand for teleradiology is predicted to rise due to the increasing global adoption of technology in healthcare.
Radiation exposure is a major challenge for the teleradiology market in the APAC region. The market for teleradiology is projected to be hampered by treatment-related side effects. In addition, during an emergency, clinicians have significant obstacles due to a lack of timely diagnostic facilities.
Impact of COVID-19 on the APAC teleradiology market:
Initially, there was a decline in teleradiology services due to the lockdown and hold on elective imaging services. However, the COVID-19 pandemic has been transforming the growth of the teleradiology market, and the outbreak’s immediate impact is varied. Teleradiology systems are commonly used in the COVID-19 pandemic situation for sharing study observations and detailed information obtained during the treatment of COVID-19 patients. This has reduced the need for printed copies of imaging findings to be sent, as well as in-person interactions.
This research report on the APAC teleradiology market has been segmented and sub-segmented into the following categories:
By Application:
By Modality:
By Technology Solutions:
By Country:
Geographically, Asia Pacific is projected to be the fastest-growing Teleradiology market owing to its rapidly growing healthcare infrastructure conjoined with the increasing demand for innovative and advanced medical platforms. Moreover, the huge target population base, the increasing government initiatives, and the strategic Asia Pacific expansions undertaken by major players trigger market growth. In addition, the supporting government actions, big companies’ global expansion ambitions, and the region’s rapid increase in the target population are also projected to drive growth.
Due to the development of modern healthcare infrastructure in these countries, the rising nations such as India and China are expected to grow their market share. Furthermore, due to the expanding awareness of the benefits of teleradiology, major investments in the healthcare industry, and increasing medical tourism in emerging nations within the area, the Asia Pacific region is expected to grow strongly.
Other important factors projected to boost demand for the teleradiology market include an increase in imaging operations, the introduction of the Picture Archiving and Communication System (PACS), and expanding eHealth R&D efforts.
Recent developments in the Asia Pacific, such as Philips’s debut of teleradiology services in China and the availability of a large potential population in the region without immediate access to radiologists’ assistance, are expected to drive market expansion in the region. In addition, the industry is expected to develop due to rising awareness of less expensive and more effective diagnostic methods.
KEY MARKET PLAYERS:
A few noteworthy companies dominating the Asia-Pacific teleradiology market profiled in this report are 4ways Healthcare Limited, RamSoft, Inc., Virtual Radiologic (vRAD), Agfa-Gevaert N.V., ONARD, North America Diagnostics, Everlight Radiology, Sectra AB, and Health Watch Tele Diagnostics Pvt. Ltd.
1. Introduction
1.1 Market Definition
1.2 Study Deliverables
1.3 Base Currency, Base Year and Forecast Periods
1.4 General Study Assumptions
2. Research Methodology
2.1 Introduction
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Econometric Modelling
2.2.4 Expert Validation
2.3 Analysis Design
2.4 Study Timeline
3. Overview
3.1 Executive Summary
3.2 Key Inferences
3.3 Epidemology
4. Drivers, Restraints, Opportunities, and Challenges Analysis (DROC)
4.1 Market Drivers
4.2 Market Restraints
4.3 Key Challenges
4.4 Current Opportunities in the Market
5. Market Segmentation
5.1 Modality
5.1.1 Introduction
5.1.2 X- Ray
5.1.3 Magnetic Resonance Imaging
5.1.4 Computed Tomography
5.1.5 Ultrasound Systems
5.1.6 Nuclear Imaging
5.1.7 Y-o-Y Growth Analysis, By Modality
5.1.8 Market Attractiveness Analysis, By Modality
5.1.9 Market Share Analysis, By Modality
5.2 Technology Solutions
5.2.1 Introduction
5.2.2 Web- Based Tele Radiology Solutions
5.2.3 Cloud- Based Tele Radiology Solutions
5.2.4 Y-o-Y Growth Analysis, By Technology Solutions
5.2.5 Market Attractiveness Analysis, By Technology Solutions
5.2.6 Market Share Analysis, By Technology Solutions
5.3 Application
5.3.1 Introduction
5.3.2 Picture Archiving And Communication System (PACS)
5.3.3 Radiology Information System (RIS)
5.3.4 Y-o-Y Growth Analysis, By Application
5.3.5 Market Attractiveness Analysis, By Application
5.3.6 Market Share Analysis, By Application
6. Geographical Analysis
6.1 Introduction
6.1.1 Regional Trends
6.1.2 Impact Analysis
6.1.3 Y-o-Y Growth Analysis
6.1.3.1 By Geographical Area
6.1.3.2 By Modality
6.1.3.3 By Technology Solutions
6.1.3.4 By Application
6.1.4 Market Attractiveness Analysis
6.1.4.1 By Geographical Area
6.1.4.2 By Modality
6.1.4.3 By Technology Solutions
6.1.4.4 By Application
6.1.5 Market Share Analysis
6.1.5.1 By Geographical Area
6.1.5.2 By Modality
6.1.5.3 By Technology Solutions
6.1.5.4 By Application
6.2 China
6.3 India
6.4 Japan
6.5 South Korea
6.6 Australia
7. Strategic Analysis
7.1 PESTLE analysis
7.1.1 Political
7.1.2 Economic
7.1.3 Social
7.1.4 Technological
7.1.5 Legal
7.1.6 Environmental
7.2 Porter’s Five analysis
7.2.1 Bargaining Power of Suppliers
7.2.2 Bargaining Power of Consumers
7.2.3 Threat of New Entrants
7.2.4 Threat of Substitute Products and Services
7.2.5 Competitive Rivalry within the Industry
8. Market Leaders' Analysis
8.1 Agfa-Gevaert NV
8.1.1 Overview
8.1.2 Product Analysis
8.1.3 Financial analysis
8.1.4 Recent Developments
8.1.5 SWOT analysis
8.1.6 Analyst View
8.2 NightHawk Radiology
8.3 Sectra Imtec AB
8.4 StatRad
8.5 LLC
8.6 ALTA VISTA TELERADIOLOGY
8.7 Argus Radiology
8.8 ONRAD
8.9 FujiFilm Medical Systems
9. Competitive Landscape
9.1 Market share analysis
9.2 Merger and Acquisition Analysis
9.3 Agreements, collaborations and Joint Ventures
9.4 New Product Launches
10. Market Outlook and Investment Opportunities
Appendix
a) List of Tables
b) List of Figures
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