Medical Image Management Market to Surpass 7.22 Billion by 2030 Drives Due to the Rising Prevalence of Chronic Diseases
SkyQuest projects that the medical image management market will attain a value of USD 7.22 billion by 2030, with a CAGR of 7.6% over the forecast period (2023-2030). The escalating prevalence of chronic diseases is anticipated to significantly drive the growth of PACS for effective medical image management. According to data published by the National Breast Cancer Foundation Inc. in June 2022, it was estimated that in the United States alone, approximately 287,500 new cases of invasive breast cancer would be diagnosed among women in 2022.
Westford, USA, June 23, 2023 (GLOBE NEWSWIRE) — According to SkyQuest, the growth of the medical image management market is further fueled by two essential factors: the rapidly increasing big data in healthcare and the substantial growth in geriatric imaging volumes. The healthcare industry generates enormous data, including medical images, which require efficient management and analysis. The emergence of technologies like artificial intelligence and machine learning has further amplified the need for robust image management solutions to handle this vast volume of data.
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Browse in-depth TOC on “Medical Image Management Market.”
- Pages – 242
- Tables – 65
- Figures – 77
Medical image management handles and organizes medical images through an image management system. This system encompasses various information systems, enabling healthcare professionals to store, retrieve, and analyze medical images efficiently.
Prominent Players in Medical Image Management Market
- 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.)
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PACS Segment is Expected to Grow the Market Due to the Increasing Demand for the Universalization of Medical Image Archiving
The PACS (Picture Archiving and Communication System) segment has consistently maintained the highest share in the global medical image management market, and this trend is expected to continue during the forecast period. The market can be classified into different types, including radiology PACS, cardiology PACS, and other departmental PACS.
The markets in North America is poised to exhibit lucrative growth in the medical image management market owing to several factors. One significant factor is the increasing demand for universalizing medical image archiving. The healthcare industry in North America increasingly recognizes the importance of seamless access to medical images across different healthcare facilities and systems.
Hospital Segment is Expected to Dominate the Market Due to an Increase in the Global Patient Population
The hospital segment emerged as the dominant player in the medical image management market. This can be attributed to several factors contributing to its growth and prominence. Firstly, there has been a steady increase in the global patient population, leading to a higher demand for efficient medical image management systems in hospitals.
Regional markets in the Asia Pacific is projected to exhibit the highest growth rate in the medical image management market. This growth can be attributed to several factors contributing to the region’s dynamic healthcare landscape.
A comprehensive analysis of the major players in the medical image management market has been recently conducted in a report. The report encompasses various aspects, including collaborations, mergers, innovative business policies, and strategies, providing valuable insights into key trends and breakthroughs in the market. Furthermore, the report scrutinizes the market share of the top segments and presents a detailed geographic analysis. Lastly, the report highlights the major players in the industry and their endeavours to develop innovative solutions to cater to the growing demand.
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Key Developments in Medical Image Management Market
- Intelerad medical systems made an important announcement by launching it’s enterprise imaging and informatics suite during the 2022 HIMSS Global Health Conference & Exhibition. This suite offered by Intelerad enables hospitals and health systems to overcome data silos and establish a seamless, vendor-neutral information hub. Intelerad’s suite empowers healthcare organizations to enhance collaboration, streamline workflows, and improve patient care by integrating crucial patient data throughout the entire healthcare ecosystem.
- Philips recently made a significant contribution to enterprise imaging informatics and analytics solutions. They introduced their cloud-enabled offering called Philips Health Suite Interoperability. This comprehensive solution integrates various cloud-enabled Health IT capabilities, providing seamless interoperability across the imaging enterprise. The platform is designed to meet diverse workflow needs, enabling healthcare providers to manage and analyze medical images and associated data effectively.
Key Questions Answered in Medical Image Management Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- List the top companies in the market and explain how they have achieved their positions of influence.
- In what ways do regional trends and patterns differ within the global market, and how these differences shape the market’s future growth?
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