NEW YORK, Oct. 10, 2016 /PRNewswire/ -- The medical image management market in terms of value is expected to reach USD 5.78 billion by 2021 from USD 4.22 billion in 2016, growing at a CAGR of 6.5% from 2016 to 2021. This market is categorized on the basis of product, end user, and region.
Major factors contributing to the growth of the medical image management market include technological advancements in diagnostic imaging modalities and image management solutions, growing investments in the medical imaging market, increasing usage of imaging equipment, rapid growth in geriatric imaging volumes, growing adoption of Vendor Neutral Archive (VNA), growing adoption of image management systems by small hospitals and imaging centers and rapidly growing big data in healthcare. Government initiatives to encourage EMR adoption also provide an impetus for the growth of this market. For instance, in July 2010, the U.S. federal government introduced the "Meaningful Use legislation" (Stage 1) to encourage the adoption of Electronic Health Records with the Centers for Medicare and Medicaid Services (CMS) having specific guidelines in a stage wise manner in a stage-wise manner for the implementation of EHR. The MU stage 2 has mandated that EMRs should include access to imaging data. These mandates demand higher-quality patient data management, greater transparency, and access to patient data inclusive of medical images. The implementation of such standards in turn is expected to drive the adoption of standards-based image management solutions.
Integration of picture archiving and communication system (PACS)/ Vendor Neutral Archive (VNA) with electronic health record (EMR) and Enterprise content management (ECM) and increasing consolidation in healthcare have opened an array of opportunities for the medical image management market. However, factors such as a longer product lifecycle of VNAs and budgetary constraints and may restrain the growth of this market.
Apart from the comprehensive geographical and product analysis and market sizing, the report also provides a competitive landscape that covers the growth strategies adopted by industry players over the last three years. In addition, the company profiles comprise basic views on key players in the medical image management market and their product portfolios, developments, and strategies. The above-mentioned market research data, current market size, and forecast of the future trends will help key players and new entrants to make the necessary decisions regarding product offerings, geographical focus, changes in strategic approach, R&D investments for innovations in products and technologies, and levels of output in order to remain successful.
Based on product, the market is segmented into picture archiving and communication system (PACS), vendor neutral archive (VNA), and application independent clinical archive (AICA). On the basis of procurement model, the PACS market is categorized into two segments, departmental PACS and enterprise PACS. On the basis of delivery model, the VNA market is segmented into on-premise VNA, hybrid VNA, and fully cloud-based VNA. On the basis of procurement model, the VNA market is segmented into departmental VNA, multi-departmental enterprise VNA, and multi-site enterprise VNA. Based on vendor type, the VNA market is categorized into PACS vendors, independent software vendors (ISVs), and infrastructure/storage vendors. On the basis of vendor type, the AICA market is further segmented into VNA suppliers and native AICA vendors that also support DICOM archiving/VNA functionality. Based on end user the market is segmented into hospitals, diagnostic imaging centers and other endusers (Ambulatory surgical clinics, small clinics and contract research organizations).
Reasons to Buy the Report:
The report will enrich both established firms as well as new entrants/smaller firms to gauge the pulse of the market, which in turn will help firms garner a greater market share. Firms purchasing the report can use any one or a combination of the below-mentioned five strategies (market penetration, product development/innovation, market development, market diversification, and competitive assessment) for strengthening their market shares.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on the product portfolios of top players in the medical image management market. The report analyzes the medical image management market by application, sales channel, and region
- Product Development/Innovation: Detailed insights on the upcoming technologies, R&D activities, and new product launches in the medical image management market
- Competitive Assessment: In-depth assessment of market strategies, geographical and business segments, and product portfolios of leading players in the medical image management market
- Market Development: Comprehensive information about lucrative emerging markets. The report analyzes the market for various medical image management products across geographies
- Market Diversification: Exhaustive information about new products and services, untapped geographies, recent developments, and investments in the medical image management market
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