At 17.1% CAGR, Asia Pacific Teleradiology Services Market is Projected to be Worth US$ 1,785.74 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Asia Pacific teleradiology services market was valued at US$ 505.03 million in 2022 and is expected to reach US$ 1,785.74 million by 2030, registering a CAGR of 17.1% from 2022 to 2030. Shortage of radiologist and doctors and growing adoption of teleradiology services are among the critical factors attributed to drive the Asia Pacific teleradiology services market growth.

Teleradiology is a branch of telemedicine that involves transmitting radiological medical images in multiple modalities from one location to another to share studies with other radiologists and physicians for analysis and interpretation purposes. Due to the outbreak of COVID-19 in November 2019, a number of healthcare establishments issued guidance to healthcare providers and people in the affected areas to maintain social distancing and offer clinical services through virtual means such as telehealth.

As telehealth is bridging the gap between people, physicians, and health systems by enabling patients to communicate with physicians through virtual channels, it is helping in reducing unnecessary visits to hospitals for minor issues. Teleradiology has facilitated subspecialty consultations and collaborations. Radiologists who have specialized expertise can remotely consult complex cases, ensuring accurate diagnoses and tailored treatment plans. When paired with telehealth services, teleradiology can help care providers study real-time patient data to generate intelligent individualized insights and curate the best treatment plan from the comfort and safety of their homes.

On the contrary, security and privacy concerns hamper the growth of Asia Pacific teleradiology services market.

Based on deployment type, the Asia Pacific teleradiology services market is bifurcated into cloud-based and web-based. The cloud-based segment held 68.3% market share in 2022, amassing US$ 344.70 million. It is projected to garner US$ 1,229.98 million by 2030 to register 17.2% CAGR during 2022-2030.

In terms of modality, the Asia Pacific teleradiology services market is segmented into MRI, CT-scan, X-ray, ultrasound, and others. The CT-scan segment held 31.7% share of Asia Pacific teleradiology services market in 2022, amassing US$ 160.29 million. It is anticipated to garner US$ 578.33 million by 2030 to expand at 17.4% CAGR during 2022-2030.

By application, the Asia Pacific teleradiology services market is divided into musculoskeletal system, gastroenterology, cardiology, oncology, neurology, and others. The musculoskeletal system segment held 29.4% share of Asia Pacific teleradiology services market in 2022, amassing US$ 128.19 million. It is projected to garner US$ 494.14 million by 2030 to expand at 18.4% CAGR from 2022 to 2030.

In terms of end user, the Asia Pacific teleradiology services market is categorized into hospitals and clinics, diagnostic and imaging centers, others. The hospitals and clinics segment held 58.5% share of Asia Pacific teleradiology services market in 2022, amassing US$ 295.33 million. It is projected to garner US$ 1,081.45 million by 2030 to expand at 17.6% CAGR from 2022 to 2030.

Based on country, the Asia Pacific teleradiology services market is categorized into China, Japan, Australia, India, South Korea, and the Rest of Asia Pacific. Our regional analysis states that China captured 36.6% share of Asia Pacific teleradiology services market in 2022. It was assessed at US$ 184.71 million in 2022 and is likely to hit US$ 669.51 million by 2030, registering a CAGR of 17.5% during 2022-2030.

Key players operating in the Asia Pacific teleradiology services market are Aster Medical Imaging LLC, medavis GmbH, Teleradiology Solutions Inc, TeleDiagnosys LLC, and Agilus Diagnostics Ltd, among others.

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