Spain Teleradiology Market Analysis

Spain Teleradiology Market Analysis


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Spain's Teleradiology market size was valued at $46 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030 and will reach $ 103 Mn in 2030. The market is segmented by application, modality, technology solutions, and end user. Teleradiology is becoming increasingly popular in Spain due to the growing demand for remote healthcare services, particularly in rural or underserved areas. The key market players are Radiber, Teleradiología de España, Medicasur, Hospital Clínic de Barcelona, and Telerradand others.

ID: IN10ESDH140 CATEGORY: Digital Health GEOGRAPHY: Spain AUTHOR: Chandani Patel

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Spain Teleradiology Market Executive Summary

Spain's Teleradiology market size was valued at $46 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 10.7% from 2022 to 2030 and will reach $ 103 Mn in 2030. According to data from the World Bank, Spain's healthcare expenditure as a percentage of GDP was 9.3% in 2019. This represents a total healthcare expenditure of approximately $177 Bn in 2019.

The use of teleradiology can help to reduce healthcare costs by providing more efficient and cost-effective access to medical imaging services. Additionally, teleradiology can help to reduce the need for expensive and time-consuming transfers of patients between hospitals for diagnostic purposes.

The adoption of teleradiology in Spain is increasing due to the benefits it provides, such as increased access to radiology services, improved patient outcomes, and reduced costs. This trend is likely to continue in the future, as more hospitals and clinics adopt teleradiology services as part of their overall healthcare strategy.

Teleradiology is a rapidly growing field in Spain, and has become an increasingly important part of the country's healthcare system in recent years. Teleradiology services in Spain are primarily provided by private companies, although some public hospitals and healthcare centers also offer teleradiology services. Teleradiology services are increasingly being used to provide round-the-clock coverage to hospitals and clinics, particularly in rural and remote areas that have limited access to radiologists. AI is being used in teleradiology to help radiologists analyze medical images more efficiently and accurately. For example, AI algorithms can be used to help detect abnormalities in medical images, reducing the time and effort required for radiologists to analyze the images. The use of teleradiology has raised concerns about the quality and accuracy of diagnostic results. To address this, teleradiology companies in Spain are implementing rigorous quality control measures to ensure the highest standards of patient care. Overall, the teleradiology market in Spain is evolving rapidly, and these emerging trends are likely to shape the future of teleradiology in the country.

spain teleradiology market

Market Dynamics

Market Growth Drivers

  1. Improved patient outcomes: Teleradiology can lead to faster turnaround times for radiology reports and reduce the risk of misdiagnosis, leading to improved patient outcomes.
  2. Increasing demand for remote healthcare: Teleradiology is becoming increasingly popular in Spain due to the growing demand for remote healthcare services, particularly in rural or underserved areas.
  3. Shortage of Radiologists: Spain is facing a shortage of radiologists in many regions, which is driving the demand for teleradiology services.
  4. Advancements in technology: Advancements in technology, such as electronic medical records (EMRs) and picture archiving and communication systems (PACS), have made it easier to transmit and store medical images securely, increasing the adoption of teleradiology.

Market Restraints:

  1. Resistance to change: Traditional healthcare providers may be resistant to change and the adoption of new technology, which can slow the growth of the teleradiology market.
  2. Data protection: Teleradiology providers must comply with data protection regulations in Spain, including the General Data Protection Regulation (GDPR), which can increase the costs and complexity of providing teleradiology services.
  3. Language barriers: Spain has many regions with different languages and dialects, which can make it difficult for teleradiology providers to communicate effectively with patients and healthcare providers in some areas.
  4. Legal and regulatory challenges: Teleradiology services must comply with various legal and regulatory requirements, such as licensing and quality standards, which can increase the costs and complexity of providing teleradiology services.
  5. Lack of standardization: There is a lack of standardization in teleradiology practices, leading to variations in the quality of services provided

Competitive Landscape

Key Players

  • Radiber
  • Teleradiología de España
  • Medicasur
  • Hospital Clínic de Barcelona
  • Telerrad
  • Teleimagen
  • Teleradiología Madrid
  • Mediktor
  • Medimaging Integrated Solutions

Notable Deals

2020: Radiber acquired Spanish teleradiology company Teleradiología de España

2019: Telemedicine Clinic Spain partnered with Spanish hospital group Quirónsalud in 2019 to provide teleradiology services.

Healthcare Policies and Regulatory Landscape

Teleradiology regulations in Spain are mainly governed by the Spanish Royal Decree 1131/2002 of September 6, which establishes the minimum requirements for the provision of teleradiology services. Some of the key regulations related to teleradiology in Spain are:

Licensing and accreditation: Teleradiology service providers must be licensed and accredited by the competent authorities in Spain, and comply with the relevant quality standards and guidelines.

Data protection and patient confidentiality: Teleradiology service providers must comply with the Spanish Data Protection Act and ensure the confidentiality and security of patient data.

Technical requirements: Teleradiology service providers must ensure that the technical infrastructure used for teleradiology services is reliable, secure and complies with the relevant technical standards.

Reporting and record-keeping: Teleradiology service providers must maintain accurate records of all teleradiology reports, and ensure that they are available to the referring physicians and other authorized healthcare professionals.

Professional liability insurance: Teleradiology service providers must have appropriate professional liability insurance to cover any potential harm or damage caused by their services.

1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Teleradiology Market Segmentation

By Application

  • Picture Archiving and Communication System (PACS)
  • Radiology Information System (RIS)

By Modality:

The market is divided into X-ray, computed tomography (CT), ultrasound, magnetic resonance imaging (MRI), nuclear imaging, fluoroscopy, and mammography segments based on Modality. The computed tomography market category held the biggest market share in 2020. Several medical specialties employ computed tomography, including cardiology, cancer, neurology, abdominal and pelvic imaging, as well as spine and musculoskeletal imaging. The teleradiology market is expanding in this sector due to factors including the rising demand for early and accurate diagnosis, technical improvements, and digitalization in this industry. Around 100 million CT scans are performed annually worldwide, according to the WHO. The demand for CT scans over other imaging modalities has increased due to the desire to avoid exploratory procedures and advancements in cancer diagnosis and therapy.

  • X-Ray
  • Magnetic Resonance Imaging
  • Computed Tomography
  • Ultrasound Systems
  • Nuclear Imaging

By Technology Solutions

  • Web-Based Teleradiology Solutions
  • Cloud-Based Teleradiology Solutions

By End User

The market is divided into four categories based on the end users: long-term care facilities, nursing homes, and assisted living facilities; hospitals and clinics; diagnostic imaging centres and laboratories; and other end users. In 2019, the hospitals and clinics segment's revenue contribution was the highest. This segment's significant market share can be ascribed to the increase in diagnostic imaging operations carried out in hospitals, the hospitals' growing propensity to automate and digitise patient data, and the growing demand to raise the standard of patient care. In addition, the COVID-19 pandemic shortage of radiologists and the growing usage of new imaging modalities to boost hospital workflow efficiency are anticipated to enhance the development of this end-user segment.

  • Hospitals and Clinics
  • Diagnostic Imaging Center and Laboratories
  • Long-term Care Centres, Nursing Homes, Assisted Living Facilities
  • Others

Insights10 will provide you with the reports within 10 key parameters which are:

  1. Market Overview
  2. Market Growth Drivers & Restraints
  3. Epidemiology of Disease Type
  4. Market Segmentation
  5. Market Share
  6. Competitive Landscape
  7. Key Company Profiles
  8. Healthcare Policies & Regulatory Framework
  9. Reimbursement Scenario
  10. Factors Driving Future Growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision-making for business stakeholders. Our focused approach to developing reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

 

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers, and researchers across countries through which we engage with local experts to gather key data points and assumptions about each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

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Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameters and micro indicators. The macro parameters include changes in government policies, demand and supply of the market, government intervention programs, and major market share. The micro indicators are GDP growth, market size, market volume, etc. We also understand nuances specific to each country like the US, Canada, India, Germany, etc., and have worked across 60+ countries and hence not only understand global trends but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. starting with the large overall market and segmenting different areas and the bottom-up approach i.e. starting with population and epidemiology and rolling up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach is mainly used for new product forecasting and the bottom-up approach is used for demand estimation of any product for different countries summed up to form the total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as Asia-Pacific, Africa, Europe, Middle East, North America, and  Latin America for the period of 2022 to 2030. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape, and policy and regulatory scenario, and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

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We make sure to finalize the numbers in alignment with the market research. Firstly, our internal experts ensure thorough validation and checking to ensure accurate and precise analysis and then validation is also done using a multiple-data analysis model. Two-level validation is done and entails the finalization of the report scope and the way of representation pattern.

 

 

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analyzed and synthesized. The second series of interviews are done if necessary to check and validate. The future opportunities are analyzed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results is then, interpreted by considering the following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing the regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue/volume
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Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current, and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumption.

The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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Last updated on: 15 June 2023
Updated by: Vidhi Upadhyay

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