North America Teleradiology Services Market
No. of Pages: 70 | Report Code: BMIRE00030526 | Category: Life Sciences
No. of Pages: 70 | Report Code: BMIRE00030526 | Category: Life Sciences
The North America teleradiology services market was valued at US$ 1,055.09 million in 2022 and is expected to reach US$ 3,683.95 million by 2030; it is estimated to register a CAGR of 16.9% from 2022 to 2030. Shortage of Radiologist and Doctors Fuels North America Teleradiology Services Market
There has been a substantial shortage in the number of healthcare professionals such as radiologist, physicians, and doctors worldwide. According to an article 'Minding the Gap: Strategies to Address the Growing Radiology Shortage,' published in July 2023, about 80% of the health systems are reporting shortages in their radiology department. In addition, as per the analysis carried out by the Association of American Medical Colleges, the shortage of radiologists and other specialists could exceed 35,000 by 2034. According to a survey carried out by American Society of Radiologic Technologists (ASRT) Radiologic Sciences Staffing and Workplace in 2023, below are the vacancy rate of radiologists:Source: Following 2023 Trends in the Radiologic Technologist Staffing Shortage
Similarly, the US is facing a serious shortage of physicians and radiologist staff, majorly due to the aging population and impending retirements of older physicians. According to the data published by the Association of American Medical Colleges (AAMC), the US is expected to face a shortage of up to 120,000 physicians by 2030, impacting patient care across the nation.
Additionally, the world faces a huge shortage of radiologist and nursing staff owing to a large influx of patients into the health system and increasing health issues among baby boomers. The burden of resource shortage impacts radiologists working in the profession due to the piling up of work. Teleradiology outsourcing involves the transfer of radiological images for remote diagnosis and reporting by experts through the Internet. Due to the growing shortage of staff in radiology department, healthcare facilities are shifting toward teleradiologist as they can be easily connected online. Thus, the shortage of radiologist is fueling the growth of the teleradiology services market.North America Teleradiology Services Market Overview
The North America teleradiology services market has been segmented into the US, Canada, and Mexico. The increasing acceptance of technologically advanced products, a rise in research and development activities, the presence of large healthcare businesses, and the growing use of teleradiology services are among the key factors propelling the growth of the teleradiology services market in North America.
Teleradiology has emerged as a potential solution, with small stroke experts guiding local emergency physicians through a thorough neurological exam, imaging review, and management decisions. According to IntechOpen, stroke is the fifth leading cause of death in the US, with one stroke occurring approximately every 40 seconds and stroke-related death occurring roughly every 4 minutes. Teleradiology networks use digital technology for two-way, high-definition video teleconferencing to bridge these differences by providing safe, efficient, and affordable care to underserved communities across the US.
Teleradiology networks, such as traditional practices, must comply with the Health Insurance Portability and Accountability Act (HIPAA), which regulates the protection of health information in the country. The increased use of teleradiology across the country provides more extensive access to acute care expertise without delay and helps fill gaps in regional access to stroke care. Investments in improving care systems have been successful, and improved access to expertise and healthcare for patients remote from centers of expertise can be seen. With the increasing adoption of teleradiology, it is estimated that 96% of the US population has received optimal care, which is remarkable given the country's geographic spread.
As telemedicine acceptance increases, the importance of building cohesion among physicians in telemedicine teams also flourishes. Additional government regulations regarding privacy, confidentiality, and patient rights apply in the country, and these may go beyond the existing requirements for general medical interactions. Thus, the above-mentioned factors are estimated to propel the teleradiology services market growth in the US during the forecast period.
Strategic insights for the North America Teleradiology Services provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market. The geographic scope of the North America Teleradiology Services refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.North America Teleradiology Services Market Revenue and Forecast to 2030 (US$ Million)
Get more information on this report North America Teleradiology Services Strategic Insights
Get more information on this report North America Teleradiology Services Report Scope
Report Attribute
Details
Market size in 2022
US$ 1,055.09 Million
Market Size by 2030
US$ 3,683.95 Million
Global CAGR (2022 - 2030)
16.9%
Historical Data
2020-2021
Forecast period
2023-2030
Segments Covered
By Deployment Type
By Modality
By End User
Regions and Countries Covered
North America
Market leaders and key company profiles
Get more information on this report North America Teleradiology Services Regional Insights
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North America Teleradiology Services Market Segmentation
The North America teleradiology services market is categorized into treatment, modality, application, end user, and country.
Based on treatment, the North America teleradiology services market is bifurcated into cloud based and web based. The cloud based segment held a larger North America teleradiology services market share in 2022.
In terms of modality, the North America teleradiology services market is segmented into MRI, CT-scan, X-ray, ultrasound, and others. The CT-scan segment held the largest North America teleradiology services market share in 2022.
By application, the North America teleradiology services market is divided into musculoskeletal system, gastroenterology, cardiology, oncology, neurology, and others. The musculoskeletal system segment held the largest North America teleradiology services market share in 2022.
In terms of end user, the North America teleradiology services market is categorized into hospitals and clinics, diagnostic and imaging centers, others. The hospitals and clinics segment held the largest North America teleradiology services market share in 2022.
By country, the North America teleradiology services market is segmented into the US, Canada, and Mexico. The US dominated the North America teleradiology services market share in 2022.
RAYUS Radiology Network, ONRAD Inc, Real Radiology LLC, Teleradiology Solutions Inc, Envision Healthcare Corp, and TeleDiagnosys LLC. are some of the leading companies operating in the North America teleradiology services market.
1. RAYUS Radiology Network
2. ONRAD Inc
3. Real Radiology LLC
4. Teleradiology Solutions Inc
5. Envision Healthcare Corp
6. TeleDiagnosys LLC
The North America Teleradiology Services Market is valued at US$ 1,055.09 Million in 2022, it is projected to reach US$ 3,683.95 Million by 2030.
As per our report North America Teleradiology Services Market, the market size is valued at US$ 1,055.09 Million in 2022, projecting it to reach US$ 3,683.95 Million by 2030. This translates to a CAGR of approximately 16.9% during the forecast period.
The North America Teleradiology Services Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Teleradiology Services Market report:
The North America Teleradiology Services Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Teleradiology Services Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Teleradiology Services Market value chain can benefit from the information contained in a comprehensive market report.
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