PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070385
PUBLISHER: AnalystView Market Insights | PRODUCT CODE: 1070385
The global medical imaging informatics market is estimated to be worth US$ 2,703.3 million in 2020. Medical imaging informatics market is expected to expand at a 7.6% CAGR during the forecast period.
Market Introduction
Medical imaging informatics, often known as imaging informatics or radiology informatics, is a technology that allows medical pictures to be exchanged and transferred between healthcare systems. Because it is one of the developing medical image processing and analysis techniques, the medical imaging informatics market is of interest in the healthcare IT market. Furthermore, advances in diagnostic imaging processes have provided enhanced imaging techniques for organ visualization.
Medical imaging informatics is primarily concerned with the use, production, and evaluation of data that can be used to successfully treat patients.
To deal with the present workload, medical imaging informatics has become a common tool in picture archiving and communication systems (PACS) and radiology information systems (RIS). Medical imaging informatics is now employed in a variety of fields, including cardiology, dermatology, pathology, and surgery, all of which have adopted the usage of digital pictures. Furthermore, medical imaging informatics teleconsultation has a number of benefits, including online consultation among clinicians and knowledge sharing.
Market Dynamics
The increase in the number of diagnostic imaging procedures, the high prevalence of chronic diseases, the drop in the cost of storage platforms, and advancements in the healthcare ecosystem are all driving the worldwide medical imaging informatics market. Moreover, the availability of low-cost medical informatics data storage platforms is anticipated to augment the industry growth. However, a lack of expertise to operate information technology integrated imaging modalities is expected to limit the market growth over the forecast period.
Segmentation Analysis
The medical imaging informatics market is segmented by component, deployment, application and end-user, and geography. Depending on the component, the market is segmented into software, hardware, and services. The software segment dominated the global medical imaging informatics market in 2020. On the basis of application, radiology segments dominate the global market. Due to faster scanning, greater image quality, and the elimination of ongoing costs associated with chemicals and films, the segment is expected to retain a considerable market share. The mammography segment, on the other hand, is expected to develop at a faster rate during the projection period. Mammography is an efficient technique for the easy diagnosis of breast cancer and other breast-related illnesses. Females can use these tests to identify and diagnose breast cancer. Due to an increase in the senior population, strong efforts by healthcare institutions to raise awareness about the early diagnosis of breast cancer, and an increase in the incidence rate of breast cancer, the market is expected to grow. The market is segmented into two types of deployment modes: standalone and integrated. In 2020, the standalone category dominated the market. The market is divided into hospitals, specialist clinics, and others based on the end-user. In 2020, the hospital's segment occupied the largest share of medical imaging informatics market share.
Competitive Landscape
Players compete and collaborate to achieve a significant market share in this highly competitive market. Expansion into newer, undiscovered areas, new product releases, and operational efficiency initiatives are all important elements in market growth. To gain an early market entry and a large portion of the medical imaging informatics market, industry players are relying on product launches, mergers, and acquisitions. The key players are adopting the product launch strategy to improve their product portfolio to sustain themselves in the competitive market. For instance, in May 2021, Esaote SpA launched a new ultrasound system, MyLab X75 that offers access to specific clinical solutions, including micro-vascularization assessment and liver stiffness quantification. This will help to further strengthen the company's product portfolio. Major companies are likely to benefit from such advances in the medical imaging informatics market.
Key features of the study:
This proposed research study on medical imaging informatics market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2021-2027), considering 2020 as the base year
The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for medical imaging informatics market.
The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the medical imaging informatics market.
Impact of COVID-19 on medical imaging informatics market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on medical imaging informatics market post-COVID will also be covered.
In order to give the users of this report a comprehensive view on the medical imaging informatics market, we have also included competitive landscape and key innovator analysis for the medical imaging informatics market
The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the medical imaging informatics market.
In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
The global medical imaging informatics market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
Global Medical imaging informatics Market Key Players
Koninklijke Philips N.V.
General Electric Company
Siemens AG
Agfa Gevaert N.V.
Medtronic, Inc.
McKesson Corporation
lexmark international, inc.
toshiba corporation
Esaote SpA
Global Medical imaging informatics Market by Component
Software
Hardware
Services
Global Medical imaging informatics Market by Application
Mammography
Computed Tomography (CT)
Magnetic Resonance Imaging (MRI)
Combined Modality
Ultrasound
Radiographic
Nuclear Imaging
Global Medical imaging informatics Market by Deployment
Standalone
Integrated
Global Medical imaging informatics Market by End User
Hospitals
Specialised clinics
Other
Global Medical imaging informatics Market by Region
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Latin America
Brazil
Argentina
Rest of Latin America
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa