Medical Image Management Market Synopsis
As per the analysis by Market Research Future (MRFR), the global medical image management market is anticipated to garner a significant market value, expanding at a CAGR of 7.80% during the forecast period from 2019 to 2025.
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The growing technological development in the field of diagnostic imaging modalities is anticipated to be a key factor driving medical image management 2020. The increasing demand for advanced imaging equipment is likely to increase the demand for medical image management and grow the market during the forecast period.
Furthermore, the rapid expansion of telehealth market and penetration of AI in medical imaging are projected to grow the demand for an efficient medical image management and develop the market. Also, the hybrid-cloud-based solutions are anticipated to fuel the demand for medical image management and strengthen the market during the review period.
However, the budgetary constraints can hamper the market expansion during the evaluation period.
On the contrary, the presence of untapped markets along with above-mentioned factors are anticipated to counter the hampering factors and boost the market.
Medical Image Management Market Segmentation
The segment analysis of the global medical image management market is done by end user and product.
The end-user based segments of the global medical image management market are vendor neutral archive (VNA), picture archiving and communication system, application-independent clinical archives, and enterprise viewers/universal viewers.
The product-based segments of the global medical image management market are diagnostic imaging centers, hospitals, and others.
Medical Image Management Market Regional Analysis
Based on the region, the global medical image management market is segmented into the Americas, Asia-Pacific, Europe, and the Middle East & Arica.
As per the analysis, the Americas is anticipated to acquire the largest market share during the forecast period. The regional market expansion can be attributed to the growing prevalence of chronic diseases. Furthermore, the growing adoption of IT by healthcare bodies along with increasing number of medical imaging procedures performed can augment the regional market during the forecast period. Also, the advanced healthcare infrastructure is another significant factor augmenting the market growth.
Europe is expected to acquire the second largest market share, expanding at a CAGR of 8.12% during the forecast period. The expanding patient pool along with growing research on ultrasound are anticipated to fuel the regional market. Besides, the availability of advanced treatment facilities can augment the market in coming period. The presence of established players is likely to propel the market growth additionally during the review period.
The APAC region is estimated to be the fastest-growing region during the forecast period owing to the increasing geriatric population. Furthermore, the developing healthcare infrastructure is projected to strengthen the regional market in the coming period. The emerging economies such as India and China are anticipated to make significant contribution owing to the growing patient pool.
The MEA region is anticipated to acquire the least market share during the forecast period owing to the presence of poor economies. Lack of awareness and reluctance to use technologies in healthcare sector are likely to impede the market growth in the coming period. However, the presence of untapped opportunities are anticipated to favor the market growth. Besides, the participation of stable economies such as Saudi Arabia, Qatar, and others can fuel the regional market.
Medical Image Management Market Key Players
Some of the renowned players of the global medical image management market are Koninklijke Philips N.V. (Netherlands), GE Healthcare (US), Siemens Healthineers AG (Germany), Sectra AB (Sweden), McKesson Corporation (US), Agfa-Gevaert Group (Belgium), Esaote SpA (Italy), Carestream Health (US), Fujifilm Holding Corporation (Japan), and Novarad (US).
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