Technological innovations in the diagnostic imaging and image management, rising EMR adoption and the emergence of big data in healthcare are some of the major factors that are propelling the growth of the medical imaging management market across the globe. The increasing geriatric population coupled with rising prevalence of chronic diseases has led to many developments in medical technology.
New technologies and tools, such as big data, are emerging in healthcare. Big data has already made a good impact on the healthcare industry. The emergence of big data in healthcare is due to the rapid growth in healthcare data across the world. The ability of big data tools, to securely store and analyze abundant data, is helping the medical imaging management solutions. The healthcare professionals, with the utilization of big data tools, are able to access thousands of patients’ medical history. This helps the professionals in the early diagnosis of particular diseases, and in offering better solutions to the patient. The growing utilization of data analytics and artificial intelligence in Medical Imaging Management systems is creating a huge growth potential in the management.
Scope of the Report
Medical imaging management includes the fusion of a variety of information systems. With the help of these systems, healthcare providers are able to cope with the radiology, nuclear medicine and other related departments with ease.
Key Market Trends
Picture Archiving and Communications System is Estimated to Witness the High Growth, Over the Forecast Period
PACS gives access to digital images, such as X-rays, and allows them to be stored and viewed on screens. It has become an integral part of the radiology department of healthcare due to its efficacy in fetching the true results. Due to the digitalization of hospitals, the amount of digital data produced in the point of care is increasing, and PACS is providing efficient handling methods for medical imaging.
The key players, like Agfa Healthcare and Siemens, are providing high-quality PACS systems, such as IMPAX 6 and Syngo Suite, respectively. These PACS systems come up with novel technologies like 3D imaging, manual and auto adjustment of the interface, etc. By incorporating such high-quality PACS systems, hospitals are benefitted by cost savings. Along with the above-mentioned benefits, rise in the health IT adoption and expanding the use of diagnostic imaging are the factors responsible for the growth of the PACS segment.
United States is Expected to Dominate the Market in Coming Future
The United States has one of the best healthcare structure, and with the help of the foundations and non-profit organizations that make the healthcare system more interesting. One of such foundations that are present in the country is AHRA (The Association for Medical Imaging Management), which was established in the year 1973, and is working for the management of all levels of imaging centers, imaging departments of the hospitals, and group practices in the country.
Through corporate fundings and individual donations, AHRA is generating good revenue, which is being used for the betterment of medical imaging management in the United States. The association is contributing to the maintenance of quality in hospitals and imaging centers and providing improved care to the patients. The involvement of such associations and the rapid adoption of healthcare IT tools by the general population are some of the factors augmenting the growth of the medical imaging management market in the country.
With the help of new and advanced technologies in the field of medical imaging, the market in the United States is expected to grow in the forecast period.
The Medical Imaging Management market is moderately competitive and is majorly dominated by global players. Due to the high cost of the systems, the number of players in the market has been limited. However, advances in analytics and artificial intelligence of data management is expected to help the small companies to enter the market
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1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Technological Innovations in the Diagnostic Imaging and Image Management
4.2.2 Rising EMR Adoption
4.2.3 Emergence of Big Data in Healthcare
4.3 Market Restraints
4.3.1 Cost Associated With Implementation of Medical Imaging Management Solutions
4.3.2 Decrease In the Supply of SPECT and PET Systems due to the Shortage of Radioisotopes
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1 By System
5.1.1 Vendor Neutral Archive
5.1.2 Picture Archiving and Communications System (PACS)
5.2 By Application
5.2.1 Standard Radiography
5.2.2 Advanced Body Imaging
5.2.3 Cardiovascular Imaging
5.2.5 Musculoskeletal Imaging and Pain Management
5.2.6 Oncology Imaging
5.2.7 Other Applications
5.3 By End User
5.3.2 Diagnostic Centers
5.3.3 Ambulatory Surgery Centers
5.4.1 North America
126.96.36.199 Rest of Europe
5.4.3 Asia Pacific
188.8.131.52 South Korea
184.108.40.206 Rest of Asia-Pacific
5.4.4 Middle East and Africa
220.127.116.11 South Africa
18.104.22.168 Rest of Middle East and Africa
5.4.5 South America
22.214.171.124 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Agfa-Gevaert Group
6.1.2 BridgeHead Software
6.1.3 Carestream Health Inc. (Onex Corporation)
6.1.4 Fujifilm Holdings Corporation
6.1.5 GE Healthcare
6.1.6 McKesson Corporation
6.1.7 Merge Healthcare Inc. (IBM Corporation)
6.1.8 Novarad Corporation
6.1.9 Koninklijke Philips N.V.
6.1.10 Siemens Healthineers
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
Secondary Research Information is collected from a number of publicly available as well as paid databases. Public sources involve publications by different associations and governments, annual reports and statements of companies, white papers and research publications by recognized industry experts and renowned academia etc. Paid data sources include third party authentic industry databases.
Once data collection is done through secondary research, primary interviews are conducted with different stakeholders across the value chain like manufacturers, distributors, ingredient/input suppliers, end customers and other key opinion leaders of the industry. Primary research is used both to validate the data points obtained from secondary research and to fill in the data gaps after secondary research.
The market engineering phase involves analyzing the data collected, market breakdown and forecasting. Macroeconomic indicators and bottom-up and top-down approaches are used to arrive at a complete set of data points that give way to valuable qualitative and quantitative insights. Each data point is verified by the process of data triangulation to validate the numbers and arrive at close estimates.
The market engineered data is verified and validated by a number of experts, both in-house and external.
REPORT WRITING/ PRESENTATION
After the data is curated by the mentioned highly sophisticated process, the analysts begin to write the report. Garnering insights from data and forecasts, insights are drawn to visualize the entire ecosystem in a single report.