Teleradiology Market Size, Share & Trends Report

Teleradiology Market Size, Share & Trends Analysis Report By Product (Ultrasound, MRI, CT, X-ray), By Report (Preliminary, Final), By End-use (Hospital, Ambulatory Imaging Center, Radiology Clinics), By Region, And Segment Forecasts, 2023 - 2030

  • Report ID: 978-1-68038-852-7
  • Number of Pages: 120
  • Format: Electronic (PDF)
  • Historical Range: 2018 - 2021
  • Industry: Healthcare

Research Methodology

A three-pronged approach was followed for deducing the teleradiology market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:

Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for teleradiology market to gather the most reliable and current information possible.

  • We buy access to paid databases such as Hoover’s and Factiva for company financials, industry information, white papers, industry journals, SME journals, and more.
  • We tap into Grand View’s proprietary database of data points and insights from active and archived monitoring and reporting.
  • We conduct primary research with industry experts through questionnaires and one-on-one phone interviews.
  • We pull from reliable secondary sources such as white papers and government statistics, published by organizations like WHO, NGOs, World Bank, etc., Key Opinion Leaders (KoL) publications, company filings, investor documents, and more.
  • We purchase and review investor analyst reports, broker reports, academic commentary, government quotes, and wealth management publications for insightful third-party perspectives.

Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of teleradiology market data depending on the type of information we’re trying to uncover in our research.

  • Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.

  • Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.

  • Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.

  • Qualitative Functional Deployment (QFD) Modelling for market share assessment.

Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.

  • Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.

  • Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.

  • This step also entails the finalization of the report scope and data representation pattern.

  • Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.

Teleradiology Market Categorization:

The teleradiology market was categorized into four segments, namely product (X-ray, Ultrasound, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Nuclear Imaging), report (Preliminary reports, Final reports), end-use (Hospitals, Ambulatory Imaging Center, Radiology Clinics), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).

Segment Market Methodology:

The teleradiology market was segmented into product, report, end-use, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:

Market research approaches: Bottom-up

  • Demand estimation of each product across countries/regions summed up to from the total market.

  • Variable analysis for demand forecast.

  • Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.

  • Primary interviews for data revalidation and insight collection.

Market research approaches: Top-down

  • Used extensively for new product forecasting or analyzing penetration levels.

  • Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.

  • Primary interviews and vendor-based primary research for variable impact analysis.

Market research approaches: Combined

  • This is the most common method. We apply concepts from both the top-down and bottom-up approaches to arrive at a viable conclusion.

Regional Market Methodology:

The teleradiology market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into thirty three countries, namely, the U.S.; Canada; U.K.; Germany; France; Italy; Spain; Russia; Switzerland; Netherlands; Sweden; Belgium; China; India; Japan; Thailand; South Korea; Singapore; Australia; Indonesia; Malaysia; Taiwan; Mexico; Brazil; Colombia; Argentina; Chile; South Africa; Saudi Arabia; UAE; Kuwait; Israel

All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.

Teleradiology market companies & financials:

The teleradiology market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:

  • AGFA-GEVAERT GROUP Agfa-Gevaert Group produces, develops, and distributes a range of IT solutions and imaging systems for various industries such as healthcare. The company has research centers located in China, Brazil, Austria, Belgium, U.S. Germany, and Canada. The company also owns sales organizations in around 40 countries for increasing the reach of Agfa offerings.

  • ONRAD, INC. ONRAD, Inc. provides a wide range of customized and comprehensive radiology solutions. The company provides on-site specialized analysis by radiologists including subspecialty interpretations by teleradiologists as it partners with many customers such as hospitals. It also provides Radiology Information Service/Picture Archiving and Communication System (RIS/PACS) with final and preliminary radiology reports.

  • EVERLIGHT RADIOLOGY Everlight Radiology is a global radiology provider for healthcare with services to ensure enhanced patient care. It operates 24/7 for 365 days and have more than 100 RANZCR and FRCR radiologists. The company has collaborated with the University College London Hospitals NHS Foundation Trust (UCLH) to establish the joint venture—Radiology Reporting Online (RRO). The company specializes in remote radiology, teleradiology, radiology reporting, and quality audits. Everlight Radiology has operations in Sydney, Dublin, New York, San Francisco, Cape Town, London, and Auckland.

  • 4WAYS HEALTHCARE LIMITED 4ways Healthcare Limited provides remote radiology reporting services to different radiology departments across the UK. The expert team of the company has knowledge regarding different modalities and sub-specialties, thus helping validate a patient’s medical imaging reports. The radiologist in the company has experience in using multiple RIS/PACS systems. The company has reported around 3 million scans for its customers. It has also audited around 350,000 studies in total. It is accredited by ISO 27001:2005, ISO 9001:2008, Data Protection Act Registration, CQC, IGSoC V14, and ISAS.

  • RAMSOFT, INC. RamSoft, Inc. is a healthcare IT software and services company that provides radiology solutions and medical imaging services. The main aim of the company is to provide quality patient care with the help of PowerServerSeries of RIS/PACS, PACS, teleradiology, and patient information management systems.

  • VIRTUAL RADIOLOGIC Virtual Radiologic, a MEDNAX company, is a national telemedicine and teleradiology services company with board-certified physicians. The trained physicians of the company interpret patient imaging studies on PACS for around 2,100 client hospitals, radiology group facilities, and health systems across the U.S. The company has advanced imaging data analytics. It has created a centralized database based on 10 million radiology studies. The company has also invested USD 55 million for improving physician productivity and speed for quality diagnosis.

  • GLOBAL DIAGNOSTICS Global Diagnostics provides radiology services and delivers managed service solutions to private & public hospitals. It also provides patient services in ultrasound, 3T MRI, CT, Xray, and DXA. The company offer its services to tertiary hospitals and standalone medical facilities, among others. In November 2020, the company was acquired by Medica, the UK teleradiology provider.

  • CYBERNET SYSTEMS CORPORATION Cybernet Systems Corporation develops medical software and hardware solutions employed for monitoring purposes. It is considered as a leading company in American research and development with respect to medical and defense. It is also one of the contract winners of Small Business Innovative Research (SBIR). It includes network systems for analysis, measurement, and transfer of physical data.

  • USARAD.COM USARAD.COM is a full-service radiology and teleradiology company operated by radiologists. The company provides its services to imaging centers, radiology groups, small to medium-sized community hospitals, multispecialty groups, and orthopedic clinics.


    Koninklijke Philips N.V. is one of the global leaders in medical technology. The company operates in more than 100 countries, offering products and services vital for patients living with chronic conditions. The company undertakes R&D efforts and manufactures products to help meet the growing demand in healthcare.

Value chain-based sizing & forecasting

Supply Side Estimates

  • Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.

  • Segment revenue determination via variable analysis and penetration modeling.

  • Competitive benchmarking to identify market leaders and their collective revenue shares.

  • Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.

Demand side estimates

  • Identifying parent markets and ancillary markets

  • Segment penetration analysis to obtain pertinent

  • revenue/volume

  • Heuristic forecasting with the help of subject matter experts

  • Forecasting via variable analysis

Teleradiology Market Report Objectives:

  • Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.

  • Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.

  • Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 - 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.

Teleradiology Market Report Assumptions:

  • The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.

  • The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.

  • We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.

  • All market estimates and forecasts have been validated through primary interviews with the key industry participants.

  • Inflation has not been accounted for to estimate and forecast the market.

  • Numbers may not add up due to rounding off.

  • Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).

  • Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).

  • Latin America includes Central American countries and the South American continent

  • Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.

Primary Research

GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.

We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:

  • Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.

  • Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.

The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.

What questions do you have? Get quick response from our industry experts. Request a Free Consultation



This FREE sample includes market data points, ranging from trend analyses to market estimates & forecasts. See for yourself.



We can customize every report - free of charge - including purchasing stand-alone sections or country-level reports, as well as offer affordable discounts for start-ups & universities.

Contact us now to get our best pricing.

esomar icon

ESOMAR certified & member


ISO Certified

We are GDPR and CCPA compliant! Your transaction & personal information is safe and secure. For more details, please read our privacy policy.

great place to work icon