According to research report the medical image management market is projected to reach USD 4.40 billion in 2023 from USD 3.04 billion in 2018 at a CAGR of 7.7% during the forecast period.
The
growth of the market is driven by the technological advancements in
diagnostic imaging modalities and image management software, growing
investments in the medical imaging market, government initiatives to
encourage EMR adoption, increasing usage of imaging equipment, and the
growing adoption of image management systems by small hospitals and
imaging centers, are factors driving the growth of the medical image
management market.
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The report segments the medical image management system market by product, end user, and region.
Based
on products, the medical image management market is segmented into
PACS, VNAs, AICA, and enterprise/universal viewers. The PACS segment is
expected to account for the largest share of the market in 2018. Factors
such as technological advancements in PACS: adoption of PACS in new
imaging segments such as endoscopy, ophthalmology, mammography, and
oncology; growing adoption of PACS by small hospitals and imaging
centers; and government initiatives encouraging Healthcare IT adoption
are driving the growth of the PACS segment.
On the basis of type,
the PACS market is segmented into radiology PACS, cardiology PACS, and
other departmental PACS which include PACS solutions for specialties
such as ophthalmology, pathology, oncology, radiotherapy, endoscopy, and
dentistry. In 2018, the radiology PACS held the largest share of the
market as the radiology department of a hospital is where a majority of
the imaging studies are handled, managed, and stored.
The medical
image management market is segmented on the basis of end users into
hospitals, diagnostic imaging centers, and other end users. In 2018, the
hospitals segment is expected to account for the largest share of the
global medical image management system market. The rising patient
population, growing awareness about the benefits of early disease
diagnosis, increasing digitization of patient data, and rapid growth in
EMR adoption are some of the major factors responsible for the large
share of the hospitals segment in the market.
The medical image
management market is marked by the presence of several big and small
players. Prominent players offering medical image management products
include McKesson Corporation (US), GE Healthcare (US), Fujifilm Holdings
Corporation (Japan), Merge Healthcare Inc. (US), Agfa-Gevaert Group
(Belgium), Philips Healthcare (Netherlands), Siemens Healthineers
(Germany), Carestream Health, Inc. (US), BridgeHead Software (UK),
Novarad Corporation (US), Mach7 Technologies Ltd. (US), and INFINITT
Healthcare Co., Ltd. (South Korea).
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The
medical image management system market is dominated by North America,
followed by Europe. The dominance of the North American market is
attributed to factors such as the large number of imaging centers in
this region, ongoing research activities, and rapid adoption of
technologically advanced imaging systems. Additionally, government
initiatives towards digitization and increasing adoption of EHR/EMR and
data storage & exchange solutions are additional factors driving the
adoption of medical image management in this region.
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