South Korea Teleradiology Market Size & Outlook, 2023-2030
South Korea teleradiology market, 2018-2030 (US$M)
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South Korea teleradiology market highlights
- The South Korea teleradiology market generated a revenue of USD 218.2 million in 2023 and is expected to reach USD 1,125.2 million by 2030.
- The South Korea market is expected to grow at a CAGR of 26.4% from 2024 to 2030.
- In terms of segment, x-ray was the largest revenue generating product in 2023.
- Computed Tomography is the most lucrative product segment registering the fastest growth during the forecast period.
Teleradiology market data book summary
| Market revenue in 2023 | USD 218.2 million |
| Market revenue in 2030 | USD 1,125.2 million |
| Growth rate | 26.4% (CAGR from 2023 to 2030) |
| Largest segment | X-ray |
| Fastest growing segment | Computed Tomography |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Computed Tomography, Ultrasound, X-ray, Nuclear Imaging, Magnetic Resonance Imaging |
| Key market players worldwide | Pediatrix Medical Group Inc, Agfa-Gevaert NV, Everlight Electronics, Evidian, Nano X Imaging Ltd Ordinary Shares, Koninklijke Philips NV, Matrix Pack |
Other key industry trends
- In terms of revenue, South Korea accounted for 1.7% of the global teleradiology market in 2023.
- Country-wise, U.S. is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, Japan teleradiology market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 1,638.7 million by 2030.
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Teleradiology Market Scope
Teleradiology Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|
South Korea teleradiology market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to teleradiology market will help companies and investors design strategic landscapes.
X-ray was the largest segment with a revenue share of 27.54% in 2023. Horizon Databook has segmented the South Korea teleradiology market based on computed tomography, ultrasound, x-ray, nuclear imaging, magnetic resonance imaging covering the revenue growth of each sub-segment from 2018 to 2030.
Presence of efficient reimbursement policies in medical imaging and overall shortage of radiologists are among factors expected to drive the market growth. In Korea, an extra 10% fee is reimbursed on CT & MRI procedures, if the scans are reviewed by radiologists.
Moreover, Ministry of Health in 2018 announced to reduce the cost of brain MRI scans by approximately USD 136, which is expected to increase the annual number of procedures of MRI scans. Therefore, with increasing workload, the demand for teleradiology services specific to neurology specialty is anticipated to increase during the forecast period.
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Target buyers of South Korea teleradiology market databook
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Our clientele includes a mix of teleradiology market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the South Korea teleradiology market , including forecasts for subscribers. This country databook contains high-level insights into South Korea teleradiology market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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South Korea teleradiology market size, by product, 2018-2030 (US$M)
South Korea Teleradiology Market Outlook Share, 2023 & 2030 (US$M)
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