Medical Image Management Market Worth 5.78 Billion USD by 2021

Oct 05, 2016, 07:30 ET from MarketsandMarkets

PUNE, India, October 5, 2016 /PRNewswire/ --

According to a new market research report "Medical Image Management Market by Product (PACS (Departmental (Radiology, Cardiology), Enterprise), VNA (On-premise, Hybrid, Cloud, Multi-department, Multi-site, ISV), AICA) & End user (Hospitals, Diagnostic Imaging Centers, ASC, CRO) - Forecasts to 2021" published by MarketsandMarkets, the global market 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.

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Browse 233 market data Tables and 46 Figures spread through 209 Pages and in-depth TOC on "Medical Image Management Market"

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On the basis of product, the Medical Image Management Market is segmented into Picture Archiving and Communication System (PACS), Vendor Neutral Archive (VNA), and Application Independent Clinical Archive (AICA). The PACS segment is estimated to command the largest share in 2016 as it is the oldest and pioneering technology in this market. Apart from this, some other factors contributing to its large share include growing volume of imaging procedures, technological advancements in PACS, and adoption of the PACS in new imaging segments such as endoscopy, ophthalmology, mammography, and oncology. On the basis of end user, the Medical Image Management Market is segmented into hospitals, diagnostic imaging centers, and other end users (Ambulatory surgical clinics, small clinics and contract research organizations).

The PACS market, on the basis of procurement model, is segmented into departmental PACS and enterprise PACS. Departmental PACS is estimated to dominate this market in 2015, as picture archiving and communication systems were originally designed keeping in mind individual departmental workflows. However, the enterprise PACS market is expected to grow at a substantially higher rate during the forecast period owing to the ability of these solutions to enable interoperability by allowing integration of results across different hospital departments, thus enabling seamless access to all patient information at a single point of interaction.

Based on end user, the medical image management systems market is segmented into hospitals, diagnostic imaging centers, and other end users (ambulatory surgical centers, small clinics, and contract research organizations).

In 2015, the hospitals segment accounted for the largest share of the global Medical Image Management Market. Rapid growth in diagnostic imaging, rise in patient population, growing awareness about the benefits of early diagnosis of diseases, technological advancements in imaging modalities, increasing digitization of patient data, and rapid growth in EMR adoption are some of the major factors responsible for the large share of hospitals in this market.

Based on geography, the global Medical Image Management Market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is expected to account for the largest share of the market by the end of 2016. This large share can be attributed to various factors including increase in the geriatric population, high incidence/prevalence of various diseases (such as cancer and CVD), large number of imaging centers in this region, ongoing research activities, fast adoption of technologically advanced imaging systems, and increasing awareness about the benefits of early diagnosis of diseases.

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Prominent players in the Medical Image Management Market include McKesson Corporation (U.S.), GE Company (U.S.), Fujifilm Holdings Corporation (Japan), Merge Healthcare Inc. (IBM Corporation) (U.S.), Agfa-Gevaert Group (Belgium), Philips Healthcare (Royal Philips Electronics) (The Netherlands), Siemens Healthcare (Siemens AG) (Germany), Carestream Health, Inc. (Onex Corporation) (U.S.), Bridgehead Software (U.K.), and Novarad Corporation (U.S.).

Browse Related Reports: 

Medical Image Analysis Software Market by Type (Integrated, Standalone), Image (2D, 3D, 4D), Modality (CT, MRI, PET, Ultrasound, Radiography), Application (Orthopedic, Oncology, Nephrology), End User (Hospital, Research Center) - Global Forecasts to 2020

Diagnostic Imaging Market by Product (X-ray Imaging Systems, CT Scanners (High-end, Mid-end & Low-end Slice CT), MRI Systems, Ultrasound Imaging Systems, Nuclear Imaging Systems), Region (North America, Europe, Asia-Pacific, RoW) - Global Forecast to 2020  

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