Matthew Watson

Since the pandemic, the teleradiology market has experienced re-vitalised growth amid a strained global economic recovery.  The total teleradiology market (reading services and IT revenue) grew over 21% YOY in 2022 to $2.1bn. As significant influences, such as radiologist shortages, continued reimbursement cuts, innovation, and technology adoption propel the market forward, the future seems bright. By 2027, Signify Research forecasts the total teleradiology market will hit over $4.3bn and is expected to perform over 173k reads.  

A concept stretching back decades, teleradiology has offered a considerable growth engine for IT vendors, teleradiology reading providers, and private equity companies. Excluding a blip during the pandemic, where teleradiology reading volumes fell in tandem with total diagnostic imaging procedure volumes, the market has grown at a steady pace over the past decade, with announcements of prominent market players generating double-digital growth year-on-year not being uncommon.

Against the turbulent backdrop of high inflation and sporadic economic recovery, the global CT market’s growth was more subdued in 2022 than in the mid-pandemic market of the previous year. Despite this, total sales of CT equipment surpassed $6 billion in 2022, and recent projections from Signify Research give cause for optimism over our 5-year forecast period and beyond.

Despite declining tobacco use, lung cancer remains the leading cause of cancer deaths globally, often evading detection until advanced stages. It is unsurprising, then, that interest in targeted lung screening (LCS) programmes has risen markedly in recent decades

In the following insight, market analyst Matthew Watson outlines the key findings of Signify Research’s Breast Imaging – World Market report for 2022