Advanced (3D/4D) Visualization Systems Market to Reach US$ 3.28 Bn in 2024; Led by Rapidly Improving Health Care Infrastructure Across the Globe: TMR

May 30, 2016, 09:30 ET from Transparency Market Research

ALBANY, New York, May 30, 2016 /PRNewswire/ --

Transparency Market Research has published a new market report titled, "Advanced (3D/4D) Visualization Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024." According to the report, the global advanced (3D/4D) visualization systems market was valued at US$ 1.8 Bn in 2015 and is anticipated to expand at a CAGR of 6.4% from 2016 to 2024 to reach US$ 3.2 Bn in 2024.

Advanced (3D/4D) visualization systems have propelled the imaging technology market into a positive direction with the several innovative techniques and advantages it has to offer to clinicians worldwide. These systems not only provide a 3D/4D view of the image for accurate result interpretation, but also enable easy editing, storing, sharing, and archiving of patient data in a highly organized and precise manner. The global advanced (3D/4D) visualization system market is expected to grow rapidly in the near future due to cumulative effect of several factors such as advancements in computer technology, rapidly improving health care infrastructure across the globe, rising number of patients and geriatric population, and growing demand for better imaging technology. Advanced visualization systems mandate the integration of imaging modalities with picture archiving and communication system (PACS) with dedicated workstations. Moreover, adoption of thin client server that has become practicable due to the success of cloud computing technology has led to increased installation of image processing software and applications at the client site.

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This report analyzes the global advanced visualization systems market based on platform, application, end-user, and geography. Based on platform, the market has been segmented into ultrasound advanced visualization system (US) AVS, magnetic resonance imaging (MRI) AVS, computed tomography (CT) AVS, positron emission tomography (PET) AVS, and others (radiotherapy AVS and nuclear medicine AVS). The introduction of innovative advanced imaging technologies such as MRI and PET has made advanced imaging a vital part of the diagnostic procedures over the past few years. Ultrasound has been the most commonly used imaging technology in medicine owing to its lower procedure cost and minimal exposure to radiations. Companies such as Philips, Toshiba, GE, and Siemens Healthcare market ultrasound AVS that not only provide advanced applications such as quantification, archiving, and reporting, but also offer clinicians 3D and 4D images with real time monitoring.

On the other hand, MRI and CT AVS have become the preferred choice for clinicians owing to the accuracy and ease these provide to the clinicians for diagnosis. Despite the many advantages MRI AVS offers, high cost of the system and procedure is one of the major restraints of the MRI AVS market in developing nations. CT scan is also the preferred choice of imaging for the clinicians worldwide. CT scans use multiple X-ray images projected together to generate a detailed view of various parts of the body. Innovations in the MRI and CT technology provide clinicians with detailed 3D/4D images for quick, reliable, and accurate interpretation of results. The developments in these technologies are expected to drive the advanced visualization systems market in the near future.

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The global advanced visualization systems market has been analyzed by key applications such as cardiology, oncology, neurology, and others (orthopedics, gastrointestinal, gynecology, etc.). Rapidly rising incidence of neurological and cardiovascular disorders, increasing cancer cases, and growing geriatric population are expected to boost market growth during the forecast period. Based on end-user, the market has been segmented into hospitals, diagnostic labs, and academics & research. Hospitals was the largest end-user segment of the advanced (3D/4D) visualization systems market. Major drivers of AVS technology in hospitals are increasing number of patients and the convenience of diagnosis and treatment at the same site.

Moreover, non-invasiveness of the technology along with accurate results has been driving the market. Other major end-users of advanced visualization technology are diagnostic labs and academics & research. Increasing demand of clinicians for in-house diagnosis has affected the market for diagnostic labs. Advanced (3D/4D) visualization systems have become one of the major tools for academics and research institutes to train researchers and students in latest medical developments. The market for these systems in institutes is expected to grow in the near future due to increasing private and government investments in research and development.

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Key players profiled in this market report include Carestream Health, Inc., CONMED Corporation, Fujifilm Holding America Corporation, GE Healthcare, Intelerad Medical Systems Incorporated, Philips Healthcare, Qi Imaging, LLC, Siemens Healthcare, Terarecon, Inc., Toshiba Medical Systems Corporation, Visage Imaging, and Visualization Sciences Group.

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