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(Medical-NewsWire.com, July 28, 2020 ) Technological advancements in diagnostic imaging modalities and image management software, increasing usage of imaging equipment, growing adoption of image management systems by small hospitals and imaging centers, growing investments in the medical imaging market, government initiatives to encourage EMR adoption and rapidly growing big data in healthcare are factors driving the growth of the medical image management market.
According to research report the medical image management market is projected to reach USD 4.40 billion in 2023 from USD 3.04 billion in 2018 at a CAGR of 7.7% during the forecast period.
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•Based on product, the medical image management market is segmented into PACS, VNAs, AICA, and enterprise/universal viewers. The PACS segment is expected to account for the largest share of the market in 2018.
•The medical image management market is segmented on the basis of end users into hospitals, diagnostic imaging centers, and other end users including ambulatory surgical centers (ASCs), small clinics, and contract research organizations (CROs). In 2018, the hospitals segment is expected to account for the largest share of the global medical image management market.
•By procurement model, the PACS market is segmented into departmental PACS and enterprise PACS. In 2018, the departmental PACS segment is estimated to account for the largest market share. This large share can be attributed to the fact that that PACS were originally designed keeping in mind individual departmental workflows and hence a large number of PACS were adopted in healthcare facilities.
The medical image management market is marked by the presence of several big and small players. Prominent players in this market include McKesson Corporation (US), GE Healthcare (US), Fujifilm Holdings Corporation (Japan), Merge Healthcare Inc. (US), Agfa-Gevaert Group (Belgium), Philips Healthcare (Netherlands), Siemens Healthineers (Germany), Carestream Health, Inc. (US), BridgeHead Software (UK), Novarad Corporation (US), Mach7 Technologies Ltd. (US), and INFINITT Healthcare Co., Ltd.(South Korea).
McKesson was the leading player in the medical image management market in 2017. Its leading position can be attributed to its well-diversified and robust product portfolio. As part of its growth strategy, McKesson focuses on product launches to increase its market share in the medical image management market.
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GE Healthcare is another prominent player in this market. The leading position of the company is attributed to its technological expertise, vast market presence across the globe, and broad healthcare IT product portfolio. To further strengthen its product portfolio and market presence, the company focuses on product launches, expansions, and collaborations as its key growth strategies.
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