Market Research Report
Advanced Visualization Market - Growth, Trends, and Forecast (2020 - 2025)
|Published by||Mordor Intelligence Pvt Ltd||Product code||925525|
|Published||Content info||120 Pages
Delivery time: 2-3 business days
|Advanced Visualization Market - Growth, Trends, and Forecast (2020 - 2025)|
|Published: February 1, 2020||Content info: 120 Pages||
The advanced visualization market is expected to register a CAGR of 11.3% over the forecast period. The major factors for the growth of the market include the increasing prevalence of chronic diseases coupled with growing geriatric population, and rising awareness of benefits associated with advanced visualization tools in disease diagnosis.
According to the United States Census Bureau's Statistics as of 2017, the total number of people aged 65 and older had exceeded 50 million, and between 2020-2030 the number of elderly people is projected to increase by almost 18 million. Although much smaller in total size, the number of people aged 85 and older is expected to be more than triple from an estimated 6 million currently to nearly 20 million by 2060. The rise in geriatric population will increase the patient pool suffering from various chronic diseases and advanced visualization tools are expected to increase the correct diagnosis rate among the patients. Hence, the market is expected to witness high growth.
Oncology Segment by Clinical Application is Expected to Witness High Growth over the Forecast Period
The major factors driving growth of the market includes rising technological advancements and increase in the adoption of the advanced visualization tools in healthcare facilitites. Furhermore, the rising prevalence of various types of cancer is expected to boost the demand for advanced visualization systems over the forecast period. The global cancer burden is increasing, and thus, cancer therapies must be modified according to regional and national priorities. According to the World Cancer Research Fund, in 2018, there were an estimated 18 million cancer cases around the world, out of which, 9.5 million cases were in men and 8.5 million in women.
Also, major market players are launching new products in the market. For instance, in Febrauary 2019, Philips announced the launch of IntelliSpace Portal 11, which is an advanced visualization and quantification software.
Thus, considering all the above mentioned factors the market is expected to witness high CAGR over the forecast period.
North America is Expected to hold a Significant Market Share over the Forecast Period
North America expected to hold a major market share in the global advanced visualization market due to increasing cases of chronic diseases and presence of better healthcare infrastructure. Information systems have tremendous potential in reducing healthcare costs and improving outcomes. These systems play a major role, not only in reducing costs but also in improving the accurate diagnosis. In the United States most of the hospitals are focusing on providing the value-based care. The advanced visualization systems are expected to help healthcare providers to do the same. Hence, the market is expected to witness high growth over the forecast period.
The advanced visualization market is moderately consolidated market. Some of the market players in advanced visualization market are AGFA-Gevaert N.V., Canon Medical Systems, Carestream Health, Inc., Fujifilm Holdings Corporation, GE Healthcare, Koninklijke Philips N.V., PRO Medicus Limited, Siemens Healthineers, and Terarecon, Inc.