Medical Image Management Market Research Report - Global Forecast till 2027

Global Medical Image Management Market: Information by Product (Picture Archiving and Communication System, Vendor Neutral Archive (VNA), Application-Independent Clinical Archives and Enterprise Viewers/Universal Viewers), End-User (Hospitals, Diagnostic Imaging Centers and others) and Region (Americas, Europe, Asia-Pacific and the Middle East & Africa) - Forecast till 2027

ID: MRFR/HC/6840-CR | September 2019 | Region: Global | 127 pages

Please note that the assessment period of report has been updated from 2018-2025 to 2020-2027. Cordially fill the sample form for updated data.

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Market Overview


The global medical image management market is estimated to register a 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.


COVID-19 Analysis


The outbreak of COVID-19 disease increased health risks among people who already suffered from chronic diseases such as diabetes, heart problems, high blood pressure, etc. Restrictions were imposed on social gatherings, travelling, touching, etc. the technological advancements in medical management systems helped to provide access and storage of unstructured data conveniently. However, the market observed a temporary shutdown, economical drawback, and losses due to manufacturing obstruction.


Market Dynamics


Drivers


The global medical image management market is expected to have a significant growth during the forecast period. Due to rising cases of cancer-related diseases and the older-age population, increasing investments by key market players and funds by the government in research and development is expected to drive the market to a new level. Furthermore, the rapid growth of technological advancements in healthcare and imaging centers, selection of least invasive treatments, rising cases of other chronic diseases are major market drivers of the medical image management market.


Also, increasing opportunities for cloud-based systems for the efficient and convenient workflow are expected to propel the market growth.


Restraints


In the global medical image management market, a few restraints are predicted to hamper its growth. Such as high expenditure of healthcare facilities and increasing costs for the management of unstructured data of patients, and longer lifecycles of Vendor Neutral Archives (VNA) are estimated to hamper the market growth globally.


Also, security concerns regarding patients' data, stricter rules, and regulation by the government, such as delaying of approval by the authorities, are some other restraints that hinder the medical image management market.


Challenges


The medical image management market is estimated to face severe complexities in computing the data, and the lack of trained professionals is a major challenge for the market's growth. Problems such as user interface and usage of the products may take a longer time to compile and sort the unstructured data. Also, the high costs and lifecycle of VNA is also considered to be a huge challenge in front of the key players of the global medical image management market.


Opportunities


The usage of Vendor Neutral Archives (VNAs) or Picture Archiving and Communication Systems (PACS) along with computed medical records of patients will be a huge opportunity for the medical image management market to thrive. Also, the introduction of cloud-based systems to store the data without worrying about losing them is beneficial for the medical management market.


Cumulative Growth Analysis


Due to the increasing need for cloud bases systems for the global medication management market, it is estimated that the market will look at a Comprehensive Annual Growth Rate (CAGR) of 7.80%. It is projected that the market size will expand up to USD 5971.28 Million during the forecast year 2018-2025.


Value Chain Analysis


The Medical Image Management system is very valuable and efficient for the healthcare centers such as hospitals, clinics, pharmaceuticals, and other sectors in the medical industry. The cloud-based system is expected to help the market bloom positively. It is efficient for the accurate depiction of chronic diseases and provides proper healthcare treatment.


Segment Overview


The global Medical Image Management Market is segmented into –



  • By Product-

  • Application-Independent Clinical Archives

  • Picture Archiving and Communication System

  • Enterprise Viewers/Universal Viewers

  • Vendor Neutral Archive (VNA)


 



  • By End-User

  • Diagnostic Imaging Centers

  • Hospitals

  • Others


 


 



  • By Geographical Region

  • North America (The U.S. and Canada)

  • Latin America (Mexico, Brazil, and rest)

  • Asia Pacific (India, Japan, China, Australia, and rest)

  • Europe (Germany, France, Spain, Italy, U.K.)

  • The Middle East and Africa (GCC, South Africa, and rest)


 


 


Regional Analysis


The American region has held the largest market share during the year 2018. It is predicted that the American region will largely dominate the Medical Image Management Market due to the increasing number of diseases such as diabetes, cancer, heart-related diseases, kidney failures, and others are one of the major causes for the exponential growth of the global Medical Image Management Market. Moreover, the increasing adoption of Information technologies such as a cloud-based system for easy workflow is also expected for the boost.


European region holds the second position for the largest market share after Americas according to a report in 2018. It is anticipated that it will grow at an 8.12% CAGR during the forecast period. It is expected that the European region will have a steady growth in the Medical Image Management Market. The major driving factors responsible for the market boost are increasing cases of people suffering from chronic disease, availability of best healthcare facilities, and rising preference for research in ultrasound than other countries across the world.


Asia-Pacific region is expected to have a gradual and steady growth. It has recorded a rapid increase in the rate of development. It became the fastest region to register such growth in a span of few years. The exponential growth of the Medical Image Management Market in the Asia-Pacific region is caused due to increasing demand for trained medical practitioners for the efficient production of cardiac, vascular, orthopedic, and breast images. One of the developing countries like India has recorded about 17.8% in the Asia-Pacific region.


In 2018, the Middle East and African region held the least market share. It is projected to have a steady growth due to increased prices of efficient devices, the absence of skilled professionals in large numbers, and less awareness among people for health.


Competitive Landscape


The major market players used different strategies such as mergers, acquisitions, partnerships, joint ventures, and the launch of new products to expand their business worldwide and generate more revenue. For instance, G.E. Healthcare had recently made around 14 investments and 23 acquisitions to increase its business.


Here is the list of competitive companies in the global Medical Image Management Market-



  • Koninklijke Philips N.V.(Netherlands)

  • Novarad (U.S.)

  • Agfa-Gevaert Group (Belgium)

  • Esaote SpA (Italy)

  • Sectra AB (Sweden)

  • Siemens Healthineers AG (Germany)

  • IBM Watson Health (U.S.)

  • Fujifilm Holding Corporation (Japan)

  • E.G.E. Healthcare (U.S.)

  • Siemens Healthineers AG (Germany )

  • Carestream Health (U.S.)

  • McKesson Corporation (U.S.)

  • INFINITT Healthcare Co. Ltd.,( South Korea)


 


Recent Developments



  1. In 2017, the subsidiary of Agra-Gevaert Group called Agfa healthcare got its approval from Food and Drug Administration (FDA) for its new product named XERO Xtend.

  2. In 2019, Knoninklijke Phillips N.V. expanded its business with teleradiology services. The service involves imaging tests, like X-ray Ct scan or MRI scan. This step is beneficial for the company to expand its business in radiology solutions.

  3. In 2019, G.E.G.E. HealthCare launched its new product called NAVIFY Tumor Board 2.0 in collaboration with F. Hoffman-La Roche Ltd. The new product helps in completing the diagnostic data of patients in one place.


Report Overview


The Overview of Global Medical Image Management Market Research in the report is below-



  • COVID-19 analysis

  • Dynamics of the market

  • Value chain analysis

  • Market segmentation

  • Regional analysis

  • Competitive analysis

  • Recent Developments of the key players


The report provides a clear view of the growth and potential of the global market of the medical management system. The report gives insights about its opportunities, restraints, market trends, etc. Furthermore, it aims to give clear and ample information about the key players of the market.


Report Score and Segmentation



  • Study Period 2018-2025

  • Base Year 2021

  • Forecast Period 2018-2025

  • Historical Period 2018-2021

  • By Product-

  • Application-Independent Clinical Archives

  • Picture Archiving and Communication System

  • Enterprise Viewers/Universal Viewers

  • Vendor Neutral Archive (VNA)


 



  • By End-User

  • Diagnostic Imaging Centers

  • Hospitals

  • Others


 



  • By Geographical Region

  • North America (The U.S. and Canada)

  • Latin America (Mexico, Brazil, and rest)

  • Asia Pacific (India, Japan, China, Australia, and rest)

  • Europe (Germany, France, Spain, Italy, U.K.)

  • The Middle East and Africa (GCC, South Africa, and rest)



Report Scope:
Report Attribute/Metric Details
  Market Size

  • 2025: USD 5,971.28 Million
  • 2027: Significant value
  •   CAGR   7.80% (2018-2025)
      Base Year   2019
      Forecast Period   2020-2027
      Historical Data   2018
      Forecast Units   Value (USD Million)
      Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
      Segments Covered   By Product, End-User and Region
      Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
      Key Vendors   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 Market Opportunities   The market is expected to witness a profitable growth owing to the rising prevalence of chronic diseases
      Key Market Drivers

  • The rising prevalence of chronic diseases
  • Increasing spending on the healthcare it sector
  • Technological advancements in diagnostics sector


  • Frequently Asked Questions (FAQ) :


    The medical image management market is projected to grow at a 7.80% CAGR between 2016-2025.

    The Americas are predicted to command the highest share in the medical image management market.

    The medical image management market is predicted to touch USD 5,971.28 million by 2025.

    Key competitors in the medical image management market include Novarad (US), Fujifilm Holding Corporation (Japan), Fujifilm Holding Corporation (Japan), Esaote SpA (Italy), Carestream Health (US), Agfa-Gevaert Group (Belgium), Sectra AB (Sweden), McKesson Corporation (US), Siemens Healthineers AG (Germany), Koninklijke Philips N.V. (Netherlands), and GE Healthcare (US).

    Security & privacy concerns and high costs of software may restrict market growth.



    This table of content is tentative and subject to change as the research progresses.

    Please Note:  Financial details of company cannot be provided if the information of the company is not available in public domain and or reliable source.