Medical Image Management Market Industry Statistics, Emerging Technologies, Business Challenges, Covid-19 Outbreak, Explosive Factors of Revenue Expansion and Strategies 2031
Kenneth Research, in its repository of market research reports, have recently added a report on Medical Image Management Market which emphasizes on the latest trends, key opportunities, drivers, and the challenges associated with the growth of the market during the forecast period, i.e., 2022 – 2031. The Medical Image Management Market is anticipated to grow primarily on account of the growing trade of ICT goods and services worldwide. According to the statistics by the World Bank, the exports of ICT goods globally increased from 11.164% of total goods exports in 2017 to 11.53% of total goods exports in 2019.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Image Management Market products.
Recently, a significant growth in healthcare spending have been observed in the low- and middle-income nations. In the middle-income nations, healthcare spending rose by 6.3% a year between 2000 and 2017, while the economy rose by 5.9% a year. Additionally, health spending in low-income countries also observed a growth by 7.8% a year in the same period. The growth in the healthcare spending of these nations can be attributed to the increasing focus of the governments in these nations to meet the laid down targets of the Sustainable Development Goals (SDGs) of 2030. Such factors are anticipated to drive the growth of the MARKET during the forecast period.
The Global Medical Image Management Market is expected to register a CAGR of 7.80% to reach USD 5,971.28 Million till 2025. Medical image management systems are used in hospitals and diagnostic centers for sharing patient data and laboratory results with physicians. These systems are very useful and help in maintaining patient data, which plays an important role in clinical decision making.
Download Sample of This Strategic Report- https://www.kennethresearch.com/sample-request-10159196
The rising prevalence of chronic diseases, increasing spending on the healthcare it sector, and technological advancements in diagnostics sector are expected to enhance the market growth. However, the high costs of software solutions and privacy and security concerns are projected to curb the growth of the market.
Market Dynamics
The market is expected to witness a profitable growth owing to the rising prevalence of chronic diseases. According to the data by the Government of Canada, in 2017, about 2.3 million people aged 12 and older were diagnosed with diabetes. Additionally, according to the press release by Chiron Health published in June 2016, chronic diseases such as heart disease, stroke, cancer, depression, type 2 diabetes, obesity, and arthritis affected an estimated 117 million people in the Americas. The medical image management technology could be used to address the issues related to the data collection and sharing of laboratory results and rising demand for healthcare services related to the diagnosis of cancer, diabetes, and other diseases in the North American region.Thus, the rising prevalence of chronic diseases is expected to drive the growth of the global medical image management market.
Segmentation
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.Based on end user, the medical image management market has been categorized 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.
Download Sample of This Strategic Report- https://www.kennethresearch.com/sample-request-10159196
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 the 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.
Key Players
The prominent players in the global medical image management market are 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).
Some of the key strategies followed by players operating in the global medical image management market were product launch, patent acquisition, partnership, product expansion, and collaborations.In May 2019, GE Healthcare, in collaboration with F. Hoffmann-La Roche Ltd, launched NAVIFY Tumor Board 2.0. The product enables to store complete patient diagnostic information at one location, enabling to decide the treatment plan for cancer patients.
Request For Full Report- https://www.kennethresearch.com/sample-request-10159196
In March 2019, Koninklijke Philips N.V. announced the expansion of its radiology solutions portfolio with teleradiology services. Teleradiology includes the interpretation of patients’ images from medical imaging exams, such as X-ray exams, MR, and CT. This complements the company’s organic innovation initiatives to expand its radiology solutions portfolio.In July 2017, Agfa HealthCare, a subsidiary of Agfa-Gevaert Group, received the Food and Drug Administration (FDA) clearance for its product XERO Xtend.
Market Segmentation
Global Medical Image Management Market, by Product
Picture Archiving and Communication System
Vendor Neutral Archive (VNA)
Application-Independent Clinical Archives
Enterprise Viewers/Universal Viewers
Global Medical Image Management Market, by End User
Hospitals
Diagnostic Imaging Centers
Others
Global Medical Image Management Market, by Region
Americas
North America
US
Canada
Latin America
Europe
Western Europe
Germany
France
UK
Italy
Spain
Rest of Western Europe
Eastern Europe
Asia-Pacific
Japan
China
India
South Korea
Australia
Rest of Asia-Pacific
Middle East & Africa
Middle East
Africa
Available Additional Customizations
Company Profiles of Other Key Players
BridgeHead Software Ltd
INFINITT Healthcare Co., Ltd
Mach7 Technologies Ltd
Medical Image Management Market, Industry Trends
Intended Audience
Medical device manufacturers
Research & development organizations
Academic institutes
About Us
Kenneth Research provides scheduled syndicated reports that help industry professionals and organizations decipher market trends to take significant decisions and plan strategies. We cater to a wide range of industries including healthcare & pharmaceuticals, ICT & telecom, automotive & transportation, energy & power, chemicals, FMCG & food, aerospace & defense, among others. Our research team ensures to track and analyze the industry on a regular basis to offer strategic business consultancy services on a global level. We, at Kenneth Research are adept at capturing descriptive insights on crucial topics to help our clients make their informed decisions.
Contact Us
Name: Kenneth research
Email:sales@kennethresearch.com
Phone: +1 313 462 0609
Managed Pressure Drilling Market
Offshore Decommissioning Market
Drones for Energy Industry Market
Microchannel Heat Exchanger Market
Hydrogen Fuel Cell Vehicle Market