DUBLIN--(BUSINESS WIRE)--The "Medical Image Management Market by Product {PACS [Departmental (Radiology, Mammography, Cardiology), Enterprise], VNA [(On-premise, Hybrid), [Vendor (PACS, Independent Software, Infrastructure)], AICA, Universal Viewer} and End User - Global Forecast to 2027" report has been added to ResearchAndMarkets.com's offering.
The medical image management market is expected to grow at a CAGR of 7.2% from 2020 to 2027 to reach $5.76 billion by 2027
The factors such as growing investments in the medical imaging market, technological advancements in diagnostic imaging modalities, rising geriatric imaging volumes, growing demand for advanced imaging equipment, rapidly growing big data in healthcare, and growing healthcare IT and EHR adoption are majorly driving the growth of the overall medical image management market.
Also, integration of PACS/VNA with EMR, untapped emerging markets, penetration of artificial intelligence in medical imaging, rapidly growing field of telehealth, and hybrid-cloud-based solutions represent high-growth opportunities for the players operating in this market. However, the factors such as longer product lifecycle of VNAs and budgetary constraints restrict the growth of this market.
The medical image management market study presents historical market data in terms of value (2018 and 2019), estimated current data (2020), and forecasts for 2027- by product, end user, and geography. The study also evaluates industry competitors and analyzes the market at a regional and country level.
Based on product type, Picture Archive Communication System (PACS) is estimated to command the largest share of the overall medical image management market in 2020. However, the vendor neutral archive segment is expected to grow at the highest CAGR during the forecast period, owing to its greater security, control over images, and lower latency than cloud storage.
Based on end user, the hospitals segment is estimated to account for the largest share of the overall medical image management market in 2020, due to the factors such as increasing hospital expenditures for advanced management products, rising number of emergency admissions, and growing need to improve overall value-based care.
An in-depth analysis of the geographic scenario of the medical image management market provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) along with the coverage of major countries in each region. North America is estimated to command the largest share of the global medical image management market in 2020, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
However, Asia Pacific region is expected to grow at the fastest CAGR during the forecast period. The factors driving the growth of the Asia Pacific medical image management market are rising investment in the healthcare sector, improving healthcare infrastructure, increased adoption of medical imaging devices, adoption of new technology into the healthcare industry, and developments made for adoption of AI and telehealth services.
Market Dynamics
Drivers
- Growing Investments in the Medical Imaging Market
- Technological Advancements in Diagnostic Imaging Modalities
- Rising Geriatric Population
- Growing Demand for Imaging Equipment
- Rapidly Growing Big Data in Healthcare
- Growing Healthcare IT and EHR Adoption
Restraints
- Longer Product Lifecycle of VNAs
- Budgetary Constraints
Opportunities
- Integration of PACS/VNA with EMR
- Untapped Emerging Markets
- Penetration of AI in Medical Imaging
- Adoption of Hybrid & Cloud-Based Solutions
- Rapidly Growing Telehealth Market
Challenges
- Data Migration
- Lack of Interoperability
Impact Assessment of Covid-19
Scope of the Report:
Medical Image Management Market, by Product
- Picture Archiving and Communication Systems (PACS)
- PACS Market, by Type
- Departmental PACS
- Radiology PACS
- Traditional PACS
- Vendor Neutral PACS
- Other Radiology PACS
- Cardiology PACS
- Other Departmental PACS
- Enterprise PACS
PACS Market, by Delivery Model
- On-premise Models
- Web/Cloud-based Models
- Vendor Neutral Archives (VNA)
VNA Market, by Delivery Model
- On-premise
- Hybrid VNA
- Web/Cloud-based VNA
VNA Market, by Procurement Model
- Departmental VNA
- Multi-Departmental VNA
- Multi-Site VNA
VNA Market, by Type of Vendor
- PACS Vendors
- Independent Software Vendors
- Infrastructure/Storage Vendors
- Application-independent Clinical Archives (AICA)
AICA Market, by Type of Vendor
- VNA Vendors
- Native AICA Vendors
- Enterprise Viewer/Universal viewer
Medical Image Management Market, by End User
- Hospitals
- Diagnostic Imaging Centers
- Other End Users
Companies Mentioned
- Agfa-Gevaert Group (U.S.)
- BridgeHead Software Ltd. (U.K.)
- Change Healthcare Inc. (U.S.).
- FUJIFILM Holdings Corporation (Japan)
- GE Company (U.S.)
- Hyland Software Inc. (U.S.)
- IBM Corporation (U.S.)
- INFINITT Healthcare Co. Ltd. (South Korea)
- Koninklijke Philips N.V. (Netherlands)
- Mach7 Technologies (U.S.)
- Novarad Corporation (U.S.)
- Sectra AB (Sweden)
- Siemens Healthineers AG (Germany)
For more information about this report visit https://www.researchandmarkets.com/r/cfgf8z
