At 16.7% CAGR, Europe Teleradiology Services Market is Projected to be Worth US$ 2,129.72 Million by 2030, says Business Market Insights

According to Business Market Insights' research, the Europe teleradiology services market was valued at US$ 618.65 million in 2022 and is expected to reach US$ 2,129.72 million by 2030, registering a CAGR of 16.7% from 2022 to 2030. Shortage of radiologist and doctors and adoption of artificial intelligence (AI) in teleradiology are among the critical factors attributed to drive the Europe teleradiology services market growth.

Although it is difficult in the near term to create and train the number of radiologists required to meet the demand, the adoption of smart solutions and newer technologies, such as AI and Internet of Things (IoT), can be the key to the next breakthrough in patient care. During 2011-2020, a significantly larger number of devices were connected to the Internet than ever before, and this trend will continue steadily in the coming decades as well. The emergence of the IoT has propelled the development of various health practices aimed at improving population health. These services have been extensively informative and can be used for a variety of purposes across single condition and cluster condition management, including allowing healthcare professionals to track and monitor patient progress remotely, improving self-management of chronic conditions, assisting in the early detection of abnormalities, and accelerating symptom identification and clinical diagnoses. Further, IoT-powered apps have the potential to make better use of healthcare resources while providing high-quality, low-cost medical treatment. For instance, the Mobile MIM app was the first medical app in Apple's App Store. It is used to view, register, fuse, and show medical images from SPECT, PET, CT, MRI, X-ray, and ultrasound examinations for diagnosis purposes. Mobile MIM enhances physicians' access to pictures and allows them to consult with peers by providing wireless and portable access to medical images. AI can assist in creating an inbuilt system that prioritizes cases based on protocol requirements. For example, cases of stroke and trauma can be prioritized and assigned to the Radiologist's work lists, thereby saving many lives. An integrated cloud-based RIS/PACS platform incorporating AI capabilities will help radiologists review the cases automatically and simultaneously. With faster turnaround times, reduced radiologist burnout, and fewer errors, AI-powered and IoT-powered teleradiology platforms are expected to improve radiology interpretation and provide faster reports.

On the contrary, security and privacy concerns hurdle the growth of Europe teleradiology services market.

Based on deployment type, the Europe teleradiology services market is bifurcated into cloud-based and web-based. The cloud-based segment held 70.1% market share in 2022, amassing US$ 433.42 million. It is projected to garner US$ 1,505.24 million by 2030 to register 16.8% CAGR during 2022-2030.

In terms of modality, the Europe teleradiology services market is segmented into MRI, CT-scan, X-ray, ultrasound, and others. The CT-scan segment held 29.9% share of Europe teleradiology services market in 2022, amassing US$ 185.19 million. It is anticipated to garner US$ 649.84 million by 2030 to expand at 17.0% CAGR during 2022-2030.

By application, the Europe teleradiology services market is divided into musculoskeletal system, gastroenterology, cardiology, oncology, neurology, and others. The musculoskeletal system segment held 26.1% share of Europe teleradiology services market in 2022, amassing US$ 161.61 million. It is projected to garner US$ 605.58 million by 2030 to expand at 18.0% CAGR from 2022 to 2030.

In terms of end user, the Europe teleradiology services market is categorized into hospitals and clinics, diagnostic and imaging centers, others. The hospitals and clinics segment held 58.8% share of Europe teleradiology services market in 2022, amassing US$ 363.96 million. It is projected to garner US$ 1,298.25 million by 2030 to expand at 17.2% CAGR from 2022 to 2030.

Based on country, the Europe teleradiology services market is categorized into Germany, France, the UK, Italy, Spain, and the Rest of Europe. Our regional analysis states that the UK captured 23.6% share of Europe teleradiology services market in 2022. It was assessed at US$ 145.75 million in 2022 and is likely to hit US$ 495.76 million by 2030, registering a CAGR of 16.5% during 2022-2030.

Key players operating in the Europe teleradiology services market are medavis GmbH, RAYUS Radiology Network, TeleDiagnosys LLC, Teleradiology Solutions Inc, and Vital Radiology Services, among others.

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