DUBLIN--(BUSINESS WIRE)--The "Medical Image Management Market By Product (PACS (Radiology, Mammography, Cardiology, Oncology, Enterprise), VNA, AICA, Universal Viewer), Delivery (On Premise, Hybrid, Cloud), End User - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global medical image management market is expected to grow at a CAGR of 7.7% from 2018 to reach $4.89 billion by 2024
Factors such as growing investments in the medical imaging market, technological advancements, rising geriatric imaging volumes, growing focus on collaborative care and value-based care, and growing health IT and EHR adoption are driving the growth of the global medical image management market.
In addition, integration of PACS/VNA with EMR, penetration of Artificial Intelligence (AI) in medical imaging, rapidly growing field of telehealth, growing adoption of hybrid and cloud-based solutions, and untapped emerging markets represent high-growth opportunities for players operating in medical image management market. However, longer product lifecycle of VNA, and budgetary constraints may hinder the growth of this market to a certain extent.
PACS are widely adopted in radiology departments where majority of the imaging studies are handled, managed, and stored. In addition, there is an increasing incorporation of PACS into other specialties such as cardiology, ophthalmology, oncology, endoscopy, teleradiology, dermatology, pathology, neurology, and dentistry. There is a growing adoption of VNA owing to easy interfacing with EHRs, quick view and easy access to any image from anywhere in the enterprise, reduced storage costs, reduced migration costs, enhanced image sharing, synchronized cross-departmental workflow, enhanced business continuity and non-image data sharing. Moreover, AICA and enterprise/universal viewers are also in the spotlight.
Hospitals were the leading adopters of medical image management solutions in 2017 and are also expected to register fastest growth during the forecast period. This is attributed to significant patient population treated in hospitals, increasing focus to reduce the future need for costly and time-consuming data migrations, growing number of hospitals especially in developing countries, greater budgets to implement advanced solutions such as VNA and AICA in hospitals, growing demand for enterprise-wide image data management in hospitals, and growing emphasis on value-based care.
North America commanded the largest share of the medical image management market in 2017, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to factors such as presence of major health IT and medical image management companies in the U.S., implementation of HITECH and ACA in the U.S., growing adoption of EHRs, increasing demand for standard-based medical image archiving and non-DICOM content management, technological advancements, and rapidly growing big data in healthcare.
- Growing investments in the Medical Imaging Market
- Technological Advancements in Diagnostic Imaging Modalities
- Rising Geriatric Imaging Volumes
- Growing Demand for Imaging Equipment
- Rapidly growing Big Data in Healthcare
- Growing Health IT and EHR Adoption
- Longer Product Lifecycle of VNAs
- Budgetary Constraints
- Integration of PACS/VNA with EMR
- Untapped Emerging Markets
- Penetration of Artificial Intelligence (AI) in Medical Imaging
- Hybrid & Cloud-Based Solutions Represent High-Growth Opportunities
- Rapidly Growing Field of Telehealth
- Data Migration
- Lack of Interoperability
- Agfa HealthCare
- BridgeHead Software Limited
- Carestream Health Inc.
- FUJIFILM Medical Systems U.S.A.
- GE Healthcare
- Hyland Software Inc.
- INFINITT Healthcare Co.
- Koninklijke Philips N.V.
- Mach7 Technologies
- McKesson Corporation (Change Healthcare)
- Merge Healthcare Inc. (IBM)
- Novarad Corporation
- Sectra AB
- Siemens Healthineers
For more information about this report visit https://www.researchandmarkets.com/research/whd4pq/medical_image?w=4