Market Overview
The global medical image management market size is estimated to growr at 7.80% CAGR during the forecast period from 2018-2025. The market size of medical image management will increase up to USD 5971.28 Million. It is used for sharing data of patients and medical test results with physicians. It plays a primary role in making any clinical decision.
Medical images analyzing system helps to store high-quality electronic images and clinical reports. The medical image management systems allow the healthcare providers to give easy access and manage the unorganized data stored in several departments. It is a secure and befitting solution in the field of radiology, the study of reports, imaging archiving, etc.
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Segment Analysis
The global medical image management market, by product, has been segmented into picture archiving and communication system, vendor neutral archive (VNA), application-independent clinical archives, and enterprise viewers/universal viewers. By end user, the global medical image management market has been classified as hospitals, diagnostic imaging centers, and others.
Regional Analysis
The global medical image management market, based on region, has been divided into the Americas, Europe, Asia-Pacific, and the Middle East & Africa.
The Americas accounted for the largest market in 2018 and is estimated to dominate the global medical image management market owing to the increasing prevalence of chronic diseases, rising adoption of healthcare IT by healthcare bodies, and an increasing number of medical imaging procedures performed.
Europe acquired the second largest market share in 2018. It is expected to register a CAGR of 8.12% by the end of the forecast period. The European market is expected to register a sturdy growth rate during the forecast period due to major driving factors such as rising patient population of strokes and cardiovascular disorders, increasing research on ultrasound, and availability of advanced treatment facilities amongst others. For instance, according to the 2017 statistics presented by the European Society of Cardiology, there were more than 6 million new cases of cardiovascular diseases in the European Union and more than 11 million in Europe as a whole.
Asia-Pacific is expected to witness significant growth and is projected to be the fastest growing region over the forecast period. The high growth rate is due to the rising demand for medical practitioners to produce appropriate vascular, orthopedic, breast, and cardiac images and integration of reports, images, and measurements into a patient’s complete record. India held a share of 17.8% in the Asia-Pacific medical image management market in 2018.
The Middle East & Africa accounted for the least market in 2018 and is forecasted to exhibit steady growth due to the high price of devices, lack of awareness regarding health, and lack of skilled professionals.
Market Players
MRFR recognizes the following companies as the key players in the global medical image management market— GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers AG (Germany), McKesson Corporation (US), Sectra AB (Sweden), Agfa-Gevaert Group (Belgium), Carestream Health (US), Esaote SpA (Italy), Fujifilm Holding Corporation (Japan), and Novarad (US)
Key Findings of the Study
The Global Image Management Market was valued at USD 3,529.69 million in 2018 and is estimated to grow to USD 5,971.28 Million by 2025 at a CAGR of 7.80% during the assessment period
The Americas accounted for the largest share of the global market due to increasing prevalence of chronic diseases, rising adoption of healthcare IT by healthcare bodies, and an increasing number of medical imaging procedures performed.
Based on product, the vendor neutral archive (VNA) segment accounted for a market share of 6.33% in 2018
On the basis of the end user, the hospitals segment dominated the market and accounted for a share of 45.24% in 2018
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