The global teleradiology market could expand to $3.78 billion in 2019, according to a new market report from Transparency Market Research.
The report valued the market at $920 million in 2012, with expectations that it could grow at a compound annual growth rate (CAGR) of 22.3% through 2019.
Increasing demand for radiologists, technological innovations, and improved healthcare awareness are some of the factors that will drive growth and the acceptance of global teleradiology technologies and services, according to the firm.
North America was the largest market for teleradiology in 2012, followed by Europe, likely due to technological advances, a large patient base, and large disposable incomes. Well-equipped healthcare institutions and the acceptance of new approaches in medicine will lead to "rapid growth and development of teleradiology practices" in these two markets, Transparency Market Research said.
The Asia-Pacific region is expected to show "commendable growth by 2019 due to exhaustive teleradiology service offerings, geographical location advantage, and increasing healthcare expenditure," the company added.
