Teleradiology is a branch of telemedicine that uses telecommunication systems for the transmission of radiological images from one location to another. Additionally, it helps the radiologists to interpret various types of images, such as computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), ultrasound, and X-rays, remotely. As of late, teleradiology has piqued interest of individuals from all across the globe primarily because of the dire need for remote diagnosis and increased preference of radiologists working from home, in COVID-19 times. Although teleradiology is usually considered as an emerging field, its history, in fact, dates back to around a century. Below, I have pasted a figure that shows the evolution of teleradiology over the past decades.
More than 100 players claim to offer teleradiology services across the globe
Even though teleradiology services are being provided by players based all across the globe, most of the service providers engaged in this domain (~40%) are headquartered in North America, followed by Asia, Europe, Middle East and North Africa, and South America. Pasted below is a donut chart, showing the regional distribution of companies providing teleradiology services.
More than 45 collaborations have been inked in this domain between 2015 and 2021
Over the years, players providing services related to teleradiology have actively collaborated with several companies across the globe to offer their services. Among these agreements, service alliance has emerged as the most popular (26%) type of partnership. The industry has also witnessed over five acquisitions in the given time period. This trend reflects the fact that companies are continuously striving to expand their existing service offerings. Below, I have pasted figure that depicts key partnership trends along with some recent examples of agreements in this domain.
Advanced technologies such as AI, cloud computing, and machine learning are being employed by players offering teleradiology services, aiming to overcome the global radiologists’ shortage
In order to help reduce soaring radiologists’ burnout and increasing diagnostic discrepancies, many players engaged in offering teleradiology services have started integrating advanced technologies, such as AI and machine learning in their diagnostic services portfolio. These algorithms coupled with expert radiologists’ opinions can slash the turnaround time by many folds and can help relieve radiologists from their hefty workload.
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