TMR Analyzes Impact of Outbreak of COVID-19 on Teleradiology Market

Transparency Market Research (TMR) has published a new report titled, “Teleradiology Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019-2027”. According to the report, the global teleradiology market was valued at US$ 2.6 Bn in 2018 and is projected to expand at a CAGR of 16.9% from 2019 to 2027.

Overview

Based on modality, teleradiology market is segmented into X-ray, Ultrasound, CT, MRI, Nuclear Imaging
Rigorous research and development activities in radiology imaging services and growth in adoption of teleradiology drive the market
North America dominated the global teleradiology market in 2018 and the trend is anticipated to continue during the forecast period owing to a highly developed health care sector, coupled with increased awareness among patients, and continuous evolution of information technology. The teleradiology market offers immense growth potential in this region.
The teleradiology market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period due to increase in awareness about teleradiology and growth in the healthcare sector in countries such as China, Japan, and India. Moreover, technological advancement and increasing adoption of teleradiology solutions are expected to propel the growth of the market during the forecast period

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Rise in number of radiology imaging procedures and Public & private players participating to promote teleradiology to Drive Global Teleradiology Market

The changing face of interventional radiology across the globe and rise in prevalence of chronic diseases such as cancer and coronary heart diseases are boosting the number of radiological procedures. According to the National Cancer Institute, an estimated 1,685,210 new cases of cancer were diagnosed in the U.S. in 2016
The need of time-saving interpretation of radiographs with quality is high in developed economies where incidence rate of chronic diseases is rising at a rapid pace. To keep pace with the rising demand for radiological procedures and comprehensive interpretation, teleradiology is being preferred by health care providers across the globe.
Teleradiology is emerging as a major driver of expansion to quality health care across the globe. Increase in government initiatives for the adoption of telehealth and other digital health services is likely to propel the market during the forecast period. In July 2016, Japan’s Ministry of Economy, Trade, and Industry announced plans to launch a demonstration project to improve diabetes management through the utilization of IoT and health information
Public & private players are participating to spread awareness about the notable developments in the diagnostic imaging service sector. Key companies are collaborating to improve access to teleradiology in niche markets. In 2017, Teleradiology Solutions, a leader in teleradiology service sector in India, and GE Healthcare collaborated to improve access to advanced radiology interpretation services

Type I Segment to Dominate Market

Based on modality, global teleradiology market is segmented into X-ray, Ultrasound, CT, MRI, Nuclear Imaging.
Computed tomography (CT) segment held major share in the global teleradiology market in 2018 and is estimated to expand at the highest CAGR during the forecast period.
Although relatively expensive, the Computed Tomography (CT) is estimated to have the dominant market share in the forecast period owing to its ability to distinguish between 2000 levels of density, enabling the doctor to visualize 3D structures in the body for accurate diagnosis.

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North America to Dominate Global Market

Geographically, the global teleradiology market has been segmented into five major regions: North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America dominated the global teleradiology market in 2018, followed by Europe.
North America accounted for major share of the global teleradiology market in 2018, owing to a highly developed health care sector, coupled with increased awareness among patients, and continuous evolution of information technology. The teleradiology service market offers immense growth potential in this region.
The teleradiology market in Asia Pacific is anticipated to expand at a significant CAGR during the forecast period due to increase in awareness about teleradiology and growth in the healthcare sector in countries such as China, Japan, and India. Moreover, technological advancement and increasing adoption of teleradiology solutions are expected to propel the growth of the market during the forecast period.

Competitive Landscape

Envision Healthcare Corporation, Teleradiology Solutions, Agfa-Gevaert N.V. are the leading players in the global teleradiology market that hold majority of the market share
The global teleradiology market is fragmented in terms of number of players. Key players in the global market include Envision Healthcare Corporation, Agfa-Gevaert N.V., 4ways Healthcare Limited, InHealth, Teleradiology Solutions, USARAD Holdings, Inc., ONRAD, Inc., TeleDiagnosys Services Pvt Ltd., Euro American Tele Radiology, Cybernet Medical Corporation among others
New product development through robust R&D activities and merger & acquisitions are the key strategies adopted by these players to operate their business in the global teleradiology market

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The global teleradiology market has been segmented as follows:

Global Teleradiology Market, by Type

X-ray
Ultrasound
CT
MRI
Nuclear Imaging

Global Teleradiology Market, by Region

North America

U.S.
Canada

Europe

Germany
U.K.
France
Italy
Spain
Rest of Europe

Asia Pacific

China
India
Japan
Australia & New Zealand
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC Countries
South Africa
Rest of Middle East & Africa

The automated external defibrillators (AED) market has seen a robust impetus from the public access to defibrillation programs to improve outcomes in out-of-hospital cardiac arrest. Continuous advances in operators’ parameters and in devices have opened new windows to responders and healthcare personnel in the management of such patients. Transparency Market Research (TMR) observes that the growing utility of the technology for the timely defibrillation of shockable rhythms has underpinned the expansion of the market over the years. The devices are seeing a widespread uptake in pre?hospital settings.

Relentless efforts by medical device manufacturers to unveil automated external defibrillators with high reliability and better effectiveness and safety profiles have helped them strengthen their foothold, notes players. Growing investments by several top players have focused on attaining the optimal point of cost-benefit trade-off to attract consumers and healthcare providers. Further, numerous players in recent years have struck strategic alliances to consolidate their geographic position in the automated external defibrillators market. Some of the well-entrenched players include Philips (Koninklijke Philips), Nihon Kohden, Asahi Kasei, GE Healthcare, and Physio-Control Corporation.

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global automated external defibrillators market

Growing Feasibility of Public-access AEDs Boost Prospects

The growing health concern of out?of?hospital cardiac arrest, especially in some developed nations around the world, is a key factor driving the market. The growing feasibility of public-access AED has helped catalyze prospects in the market. The global automated external defibrillators market was worth US$1213.40 mn in 2016. Clocking an impressive CAGR of 15.8% from 2017 to 2025, the market is expected to reach US$4473.40 by the end of this period.

Medical device makers in the automated external defibrillators market are reaping consistent streams of revenues from the prevalence of life-threatening cardiac diseases such as cardiac arrhythmias. A great deal of the demand is filliped by rapidly growing aging populations in developed nations, such as Japan. In such regions, the deployment of public?access automated external defibrillators (PAD) has grown substantially over the years.

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Improving Paradigm of Cardiac Care in Developing Markets Makes Strong Proposition of Out-Of-Hospital Defibrillation

Increased focus in recent years over community?based PAD programs has expanded the window of opportunities in the automated external defibrillators market. However, cost-effectiveness of such programs aside, their low benefit is undoubtedly concern, proving to be a challenge for proponents of PAD. Healthcare providers must take due notice of the widening gap between the occurrence of out?of?hospital cardiac arrests and public access to automated external defibrillators. In addition to out-of-hospital settings, device makers in the automated external defibrillators market are earning revenues from the uptake in in-hospital cardiac arrest patients.

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The significant survival rate of bystander cardiopulmonary resuscitation around the world is also a key aspect of the expanding automated external defibrillators market. Growing disposable incomes and improving paradigm of cardiac care in developing countries have catalyzed the uptake of automated external defibrillators in in-hospital settings. Growing awareness about the prevalence and mortality of cardiac arrest has also created a viable market for automated external defibrillators.

The study presented here is based on a report by Transparency Market Research (TMR) titled “Automated External Defibrillators Market (Technology – Semi-Automatic, and Fully-Automatic; Size – Standard Automated External Defibrillator, and Pediatric Automated External Defibrillator; End User – Hospitals, Public Access, Emergency Medical Services, Homes, Work Spaces, and Private Cardiac Clinics) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025.”

Read our Case study at : https://www.transparencymarketresearch.com/casestudies/innovative-medical-device-manufacturing-start-up

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