Meticulous Research® – leading global market research company published a research report titled “Medical Image Management Market by Product (PACS (Radiology, Mammography, Cardiology, Oncology, Enterprise), VNA, AICA, Universal Viewer), Delivery (On premise, Hybrid, Cloud), End User (Hospitals, Diagnostic Imaging Center, ASC) – Global Forecast to 2024″.
Modern digital imaging technologies include radiography, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and nuclear medicine imaging techniques such as Positron Emission Tomography (PET), PET/CT and Single Photon Emission Computed Tomography (SPECT). The application of digital imaging technologies has grown at an exponential rate in the recent years due to rising burden of diseases. This eventually gives rise to growing volume of image data that needs to be managed effectively for decision making, reducing costs, and improving care coordination and reporting capabilities.
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Medical image management systems such as PACS, VNA, AICA and enterprise/universal viewers enable health systems to manage medical images efficiently, streamline clinical and business workflows, and provide cost-effective image access to users across the continuum of care. Thus, helping providers to improve quality of treatment, increase efficiency, reduce costs, shift resources toward innovation, and build a strong foundation for a sustainable, data-driven healthcare enterprise. The global medical image management market is expected to grow at a CAGR of 7.7% from 2018 to 2024 to reach $4.89 billion by 2024.
Based on product type, PACS commanded the largest share of medical image management market, owing to significant adoption of PACS in radiology department where majority of the imaging studies are handled, managed, and stored; and rising incorporation of PACS into other specialties such as cardiology, ophthalmology, oncology, endoscopy, teleradiology, dermatology, pathology, neurology, and dentistry. However, increasing incidence of data silos & data breaches, incidence of data migration, and emergence of non-DICOM medical data result in greater adoption of VNA which is expected to grow at the fastest CAGR during the forecast period.
Based on delivery mode, on-premise PACS captured a major market share owing to the perception of healthcare systems that it provides greater security, control over images and lower latency than cloud storage. However, web/cloud based PACS models are rapidly gaining traction owing to its flexibility of working from remote areas, easy scalability, no upfront costs and reduced operational costs, and automated updating features of web and cloud-based solutions.
Enterprise VNAs dominated the global VNA market in 2017. Multi-departmental VNAs showcase significant adoption while multi-site VNAs are expected to witness stable growth. Factors such as growing emphasis on collaborative care, patient-centered approach and industry consolidation; move towards enterprise imaging; and the ability of VNA to share data among multiple PACS within the same organization and allow organizations to integrate the viewing and storage of different health IT systems regardless of vendor restrictions makes enterprise VNA a preferred option for several large healthcare organizations.
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The AICA market is currently led by big VNA companies offering AICA as an advancement to their imaging portfolio to leverage growth opportunities offered by this segment and are also expected to witness highest growth during the forecast period.
Hospitals are the leading adopters of medical image management systems and are also expected to witness the fastest CAGR during the forecast period, owing to significant population treated in hospitals; growing number of hospitals especially in developing countries; and greater budget to implement advanced solutions such as VNA, AICA and enterprise/universal viewers in hospitals. This growing adoption is also further supported by increasing adoption of medical imaging equipment leading to rising volume of images to be managed efficiently, growing demand for enterprise-wide image data management in hospitals, and growing emphasis on value-based care.
The report includes competitive landscape based on extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past 3 years (2015-2018). The key players operating in the global medical image management market are Agfa HealthCare, BridgeHead Software Limited, Carestream Health, Inc., FUJIFILM Medical Systems U.S.A., GE Healthcare, Hyland Software, Inc., Merge Healthcare Inc. (IBM), Mach7 Technologies, McKesson Corporation (Change Healthcare), Novarad Corporation, Koninklijke Philips N.V., and Siemens Healthineers, Sectra AB, and INFINITT Healthcare CO., among others.
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