Global Teleradiology Market has been Estimated to be Worth US$3.78 Billion in 2019: Transparency Market Research

Albany, NY, April 23, 2015 (GLOBE NEWSWIRE) -- The global teleradiology market was worth US$0.92 billion in 2012. It has been predicted that this market will grow at a CAGR of 22.3% from 2013 to 2019, eventually reaching an estimated market value of US$3.78 billion. These projections are provided in a market research report titled Teleradiology Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019, released by market intelligence firm Transparency Market Research.

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The report details the important historical benchmarks of the global teleradiology market and the driving and restraining factors that govern it.

It states the teleradiology segment to be the largest source of revenue for the telehealth technologies industry.

The teleradiology market involves the technology that deals in the transmission of radiography images from external or remote locations to a strong healthcare establishment in an urban area though software that make use of the Internet. It is the largest and the most mature segment of the telehealth industry and makes use of advanced communication technology in an effort to exchange critical information about a patient in the most efficient manner possible.

The report discusses a comparative overview of the global teleradiology market with respect to the past and the present. Earlier communication systems would convert analog images into digital ones through the use of binary code. The code was then forwarded to a receiving terminal where the data was again converted to analog. Modern methods circumvent this need of conversion thereby saving time and maintaining imaging efficacy.

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The report also includes important developments in the global teleradiology market, such as the advent of Radiology Information Systems (RIS) and Picture Archiving and Communication Systems (PACS). These technologies have created a substantial increase in demand of teleradiology services and technologies around the world. The growth of the global teleradiology market along with the increasing use of high bandwidth broadband systems have created a high level of efficiency and assurance across remote channels of the healthcare industry.

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The increasing popularity and growing applications in the mobile health segment of the global teleradiology market has allowed radiologists to boost their diagnosis and consultation speeds by letting them do so even while commuting. This has eliminated the requirement of a doctor to access stationary computer terminals for consultations that can be performed using mobile devices.

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The report details the geographic segmentation of the global teleradiology market. It states that North America dominated the global teleradiology market in 2012 with more than 33% of the market share in terms of revenue. This was possible due to the presence of healthcare institutions that possess eligible equipment along with a growing acceptance and knowledge of the public with respect to the technologies.

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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.

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Source:Transparency Market Research