Teleradiology to reach $3.6 billion globally by 2023

One of the primary issues facing the medical imaging industry is access. Sharing studies between physicians in different locations has traditionally been difficult, since historically they have required physical proximity. With the rise of teleradiology, however, one of the primary hurdles – distance – to this kind of collaboration has been knocked down.

The field at large is taking note. Despite an only 2 annual percent increase in the population of radiologists, there is a 15 percent year over year increase in teleradiology, marking it as a growing industry. It is able to use a variety of communication channels, such as the Internet and Local Area Networks, and most recently has been adapted for cloud computing use.

Teleradiology allows a patient to receive care from a doctor who is not physically present in the same location. While this convenience is useful across medical imaging specialties, it is particularly valuable when it comes to unique specialties like pediatric or musculoskeletal radiologists. These professionals tend to be clustered in major cities and are often only available during normal working hours. Expanding their reach increases the number of people they can help and improves long-term patient outcomes.

This is in part why a new study, entitled "Teleradiology Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 – 2023" found that the global market is set to drastically increase in size. The research, conducted and published by Transparency Market Research, determined that the teleradiology market was worth $1.35 billion in 2014, but will be worth $3.62 billion just seven years from now.

One factor noted by the surveyors is the proliferation of cloud computing software. This technology allows clinics to share image data while still remaining HIPAA compliant. By cutting out this particular legislative difficulty, cloud computing opens up teleradiology to a much wider audience than would otherwise have been able to use it. In a press release on the development, Transparency Market Research explained:

"Cloud computing essentially brings down the infrastructural costs because this service is utilized on a pay-per-use model basis with minimum start up infrastructure costs. However, high costs involved in the initial set up and installation of imaging equipment and broadband technology in remote locations is one of the challenging factors for the new entrants in the teleradiology market. Moreover, the chances of recovering the costs solely depends on the number of scans arriving per day for a standalone service provider."

The group went on to note the continued importance of data security. While the benefits are myriad, the lingering threat of cybercrime remains a hindrance to complete global adoption of teleradiology.

For more information on the subject, please contact Viztek today.

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Ronny Bachrach

Marketing Director at Viztek LLC

Responsible for all marketing activities including, press, advertising, trade show coordination, website management, dealer and customer communications.