Teleradiology Market is Expected to Surpass CAGR of 18.50% During 2015 - 2023

Western Europe Teleradiology Market: Snapshot

Of late, the Western Europe market for teleradiology has been experiencing a substantial surge, thanks to the constant evolution of information and communication technologies in this region. Going forward, the shortage of expert radiologists across Europe is likely to fuel the demand for teleradiology solutions in the near future,

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reflecting greatly on this market. In 2014, the opportunity in the Western Europe teleradiology market was US$305.8 mn. Expanding at a CAGR of 18.50% during the period from 2015 to 2023, it is likely to reach US$1443.7 mn by 2023 end. The cost efficiency of teleradiology solutions, emergency coverage, and the rising number of imaging procedures are projected to boost this market over the next few years. However, the complex regulations, high initial investment, and language barrier are expected to limit the growth of this regional market in the years to come.Demand for X-ray to Remain Strong

Majorly, the Western Europe teleradiology market is analyzed on the basis of the modality into magnetic resonance imaging (MRI), X-ray, computed tomography, ultrasound, and nuclear imaging. Among these, the demand for X-ray has been relatively higher and this trend is anticipated to remain so over the forthcoming years, thanks to rising number of X-ray procedures and the need for expert radiologist advice due to complexity of images.

Among others, ultrasound teleradiology has been reporting a high adoption rate, thanks to the advent of 3D and 4D ultrasound platforms, improved image quality, and the absence of ionizing radiation. CT teleradiology, on the other hand, is expected to surface as a highly lucrative segment over the forecast period, owing to favorable reimbursement policies and its ability to easily visualize complex body parts, such as lungs, brain, and cardiac abnormalities.

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U.K. to Retain Dominance

The Western Europe market for teleradiology is spread across the U.K., the Netherlands, Spain, Germany, Italy, and the Rest of Western Europe. The U.K. and Germany together accounted for the largest share of the market. In 2014, the U.K. led the teleradiology market in Western Europe and this scenario is anticipated to remain so in the years to come. The advancements in digital image processing technology, increasing implementation of picture archiving communication systems (PACS), and the presence of a large pool of well-established market players, together with a number of domestic service providers, are the key factors behind the growth of the U.K. market for teleradiology. Germany stood second in 2014 and is projected to retain its position over the forthcoming years. The dearth of expert radiologists and the rising number of government initiatives are likely to support the teleradiology market in this country.

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