USD 3.47 billion
Global Medical Image Management Market Size, Share, Growth Analysis, By Product(Picture Archiving, Communication Systems (PACS)), By End users(Hospitals, Diagnostic Imaging Centers) - Industry Forecast 2024-2031
Report ID:
SQMIG35A2687 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|
Tables:
65 |
Figures:
77
Global Medical Image Management Market Insights
Medical Image Management Market size was valued at USD 3.47 billion in 2019 and is poised to grow from USD 3.73 billion in 2023 to USD 7.22 billion by 2031, growing at a CAGR of 7.6% in the forecast period (2024-2031).
Medical image management is defined as the process of managing medical images through image management systems that integrate a range of information systems, enabling doctors to perform early disease identification and create appropriate curative outcomes.
With high-quality images used to diagnose diseases, medical imaging holds the possibility of significant advancements in science and medicine. The management of these images include documenting and archiving the diagnostic findings, which assists the medical professionals in treating the target ailment in terms of a treatment schedule. Segmentation, registration, and visualization are three different research areas in imaging science. Additionally, data display, modification, and measurement are all involved.
Big data and other new tools are becoming available in the healthcare industry. The healthcare business has already benefited greatly from big data. The exponential growth of healthcare data globally has led to the emergence of big data in the healthcare industry. Medical image management systems benefit from big data tools' capacity to store and analyze large amounts of data in a secure manner. Using big data tools, healthcare providers have access to the medical histories of thousands of patients. This aids medical practitioners in providing patients with better remedies and in making an early diagnosis of specific ailments. Medical imaging management solutions are increasingly using data analytics and artificial intelligence, which is opening up a lot of room for management to grow.
Medical Image Management Market is poised to grow at a sustainable CAGR for the next forecast year.
Market snapshot - 2024-2031
Global Market Size
Largest Segment
Hospitals
Fastest Growth
Hospitals
Growth Rate
7.6% CAGR
Global Medical Image Management Market, 2022-2028 ($ Bn)
Country Share for North America Region- 2021 (%)
Global Global Medical Image Management Market Size By End Users, 2022-2028 ($ Bn)
Global Medical Image Management Market Size By End Users, 2022-2028 (%)
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Global Medical Image Management Market Segmental Analysis
Global Medical Image Management Market is segmented based on product, end user, and region. Based on product, the medical image management market is segmented into picture archiving and Communication Systems (PACS), Vendor Neutral Archives (VNA), Application-independent Clinical Archives (AICA), and Universal Viewer. On the basis of end user, it is categorized into hospitals, diagnostic imaging centers, and other end users. Based on region, it is categorized into North America, Europe, Asia-Pacific, Latin America, and MEA.
Medical Image Management Market Analysis by Product
The PACS segment held the highest share of global medical image management market and is expected to continue its dominance during the forecast period. According to type, the PACS market is divided into radiology PACS, cardiology PACS, and other departmental PACS, which includes PACS solutions for specialities including ophthalmology, pathology, oncology, radiation, endoscopy, and dentistry. Since the bulk of imaging studies are handled, managed, and stored in the radiology department of a hospital, the radiology PACS held the biggest market share. The PACS systems introduce innovative technology including 3D imaging and manual and automatic adjustment of interface. Hospitals get cost advantages by implementing such high-quality PACS systems. This along with growing PACS adoption by small hospitals and imaging centres, technological advancements in PACS, adoption of PACS in new imaging segments like endoscopy, ophthalmology, mammography, and oncology, and government initiatives encouraging the adoption of Healthcare IT are all contributing factors to the segment's growth.
Medical Image Management Market Analysis by End Users
The hospital segment dominated the global medical image management market in 2021. This can be attributed to the growing patient population, knowledge of the advantages of early illness detection, expansion of patient data digitalization, and quick adoption of EMR. Additionally, factors driving growth in the global medical image management market size for hospitals include an increase in the number of hospitals, particularly in developing nations, larger budgets to implement advanced solutions like VNAs in hospitals, an increase in the burden of chronic diseases linked to an ageing population, and an increase in the adoption of medical imaging equipment, which results in an increase in the volume of images that must be managed effectively.
Global Medical Image Management Market By End Users, 2021 (%), 2023 (%)
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Global Medical Image Management Market Regional Insights
North America region held the highest share in the Global Medical Image Management Market in 2021 followed by Europe. This is explained by factors such as the region's numerous imaging facilities, active research projects, and the rapid uptake of advanced imaging technology. The adoption of medical image management in this region is also being influenced by government initiatives toward digitalization, an increase in the use of EHR/EMR and data storage & sharing systems, and other considerations. The United States has one of the greatest healthcare systems, and with the aid of foundations and non-profit groups, the healthcare system is made to be more helpful. The Association for Medical Imaging Management (AHRA) generates significant income through corporate sponsorships and private donations, which is put toward improving medical imaging management in the United States. Some of the reasons accelerating the growth of the medical image management market in the U.S. include the participation of such associations and the general public's quick acceptance of healthcare IT products.
Asia Pacific is expected to register the highest growth rate during the forecast period. The factors driving the growth of the Asia Pacific medical image management market include increasing investments in the healthcare sector, improved healthcare infrastructure, increased use of medical imaging devices, adoption of new technology into the healthcare sector, and advancements made for the adoption of AI and telehealth services.
Global Medical Image Management Market By Geography, 2022-2028, 2024-2031
- Largest
- Fastest
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Global Medical Image Management Market Dynamics
Medical Image Management Market Driver
- Growing public-private investments, an increase in the number of diagnostic imaging centres, rising cancer incidence rates, an ageing population that is leading to an increase in the incidence of various diseases, and technological developments in diagnostic imaging are some of the factors influencing the growth of the global medical image management market.
- The market has grown as a result of the increasing complexity of imaging techniques that prompted the creation of specialized standards for better management of primary healthcare settings. The market has also grown as a result of the evolving healthcare landscape and legislative initiatives to reduce imaging problems. The market expansion has been further fueled by the quick development of technology that enabled the integration of managerial approaches in clinical settings.
Medical Image Management Market Restraint
- Rising budgetary constraints and prolonged shelf lifecycles for VNAs are among the main factors limiting market growth. Rising reliance on capital equipment purchases for VNA and PACS sales, as well as rising usability and user interface issues, will pose additional challenges to market expansion in the coming years.
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Global Medical Image Management Market Competitive Landscape
Global Medical Image Management Market is moderately fragmented with major global players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Key players in the market include Carestream Health, Inc., Fujifilm Holdings Corporation, IBM Corporation, Siemens Healthineers and GE Healthcare. The number of companies in the market has been constrained by the high cost of the systems. However, improvements in data management analytics and artificial intelligence are anticipated to aid small businesses in entering the market.
Medical Image Management Market Top Player's Company Profiles
- McKesson Corporation
- Merge Healthcare Inc
- Agfa-Gevaert Group
- General Electric Company (GE Healthcare)
- Fujifilm Holdings Corporation
- Siemens Healthineers AG
- Philips Healthcare
- Agfa-Gevaert NV
- Merge Healthcare (IBM Watson Health)
- Sectra AB
- Carestream Health, Inc.
- INFINITT Healthcare Co., Ltd.
- Hyland Software, Inc. (Perceptive Software)
- BridgeHead Software Limited
- Mach7 Technologies Ltd.
- Novarad Corporation
- Intelerad Medical Systems Incorporated
- Dell Technologies Inc. (Dell EMC)
- IBM Corporation
- NantHealth, Inc.
- Ambra Health
- TeraMedica, Inc. (FUJIFILM Medical Systems USA, Inc.)
Medical Image Management Market Recent Developments
- In October 2022, Google Cloud announced a set of medical imaging tools in order to support faster, more accurate image diagnosis, increased productivity for healthcare workers, and improved care access and outcomes for patients. According to the company, these tools will enable the development of artificial intelligence for imaging. The Medical Imaging Suite is made up of the following elements which includes Imaging Storage, Imaging Lab, Imaging Datasets & Dashboards, and Imaging AI Pipelines.
- In June 2022, Bayer announced Calantic Digital Solutions, a new cloud-hosted platform that provides access to digital applications for medical imaging that include tools for artificial intelligence. The product includes tools to accelerate evaluation of crucial patient findings, enhance lesion diagnosis, and automate tasks.
Global Medical Image Management Key Market Trends
- The prevalence of chronic illnesses and disorders is growing, which is driving up the demand for clinical imaging diagnostics and supporting the PACS industry. Due to their data security features, such as saving photos offshore in data warehouses and on local computers, which enable the practitioner to view the photographs even if the server fails, hybrid cloud models are becoming more popular. Along with increasing staff productivity, technical advancements and the incorporation of cutting-edge technologies into the PACS interface, such as artificial intelligence (AI) and machine learning (ML), are contributing to market growth.
Global Medical Image Management Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Global Medical Image Management Market size analysis, the market has grown as a result of evolving regulatory frameworks designed to reduce imaging problems and the healthcare environment. The market expansion has been further fueled by the quick development of technology that enabled the integration of managerial approaches in clinical settings. In addition, demand is fueled by the growing significance of medical imaging in the first diagnosis of disease. The Medical Image Management Market size grew as a result of rising demand, which was further fueled by growing safety concerns. The market expansion has also been aided by the creation of specific guidelines for improved management of primary healthcare settings as a result of the increasing complexity of imaging techniques. The market is anticipated to grow as a result of rising government measures to promote the usage of electronic medical records.
| Report Metric | Details |
|---|---|
| Market size value in 2023 | USD 3.47 billion |
| Market size value in 2031 | USD 7.22 billion |
| Growth Rate | 7.6% |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
| Historical Year | 2019 |
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Global Medical Image Management Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Global Medical Image Management Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Global Medical Image Management Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Global Medical Image Management Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Global Medical Image Management Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Global Medical Image Management Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Global Medical Image Management Market Report Snapshots
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