Medical Imaging Informatics Market Overview:
Medical Imaging Informatics Market was valued at $3,653 million, and is expected to reach $5,383 million by 2022, supported by a CAGR of 5.6%. Medical imaging informatics, also referred as imaging informatics and radiology informatics, are used to exchange and transfer medical images throughout the healthcare systems.
CORELATION BETWEEN INFORMATION TECHNOLOGY AND MEDICAL IMAGING INFORMATICS
This report covers information on various types of medical informatics platforms developed for medical imaging procedures, such as digital radiography, computed tomography (CT), nuclear imaging, magnetic resonance imaging (MRI), and ultrasound, in compliance with the European Medical Association (EMA), the U.S. Food and Drugs Administration (FDA), Conformit Europene (CE), and other regulatory authorities.
Medical Imaging Informatics Market Segmentation
In accordance to several interviews conducted, the utilization of medical imaging informatics is expected to witness a significant growth, owing to improvement of imaging procedures, rise in diagnostic imaging procedures, and innovative & advanced applications of medical imaging informatics software.
The medical imaging informatics market is the point of interest in the healthcare IT market as it is one of the emerging medical image processing and analysis techniques. Moreover, technological advancements in the diagnostic imaging procedures provide advanced imaging techniques for the visualization of body organs.
According to the experts from leading companies operating in this market, increase in number of diagnostic imaging procedures and high prevalence of chronic diseases, decrease in cost of storage platforms, and improved healthcare ecosystem are some of the major factors driving market growth. However, lack of expertise to operate it, integrated imaging modalities, and high installation cost of medical imaging informatics solutions hamper the growth of the market.
Decrease in cost of storage platforms in healthcare sector
The healthcare industry worldwide is cost sensitive in nature. The market growth can be augmented by reducing cost of services and platforms provided by the vendors in the medical imaging informatics market. There has been an increased magnitude in the decline of the cost of storage space provided by the major vendors in the market. On an average, the cost of 1 gigabyte (GB) of storage space dropped considerably in the previous years. A trend in the downfall of the cost of 1 GB space is depicted in the chart below.
AVERAGE DECREASING COST OF 1 GB STORAGE SPACE FROM 2010-2016
This decline pattern in the average cost per GB storage space further leads to increased adoption of the imaging informatics solutions to gain instantaneous access of medical images on the web, cloud, or on-premise platforms.
The leading market players in the medical imaging informatics market focus to expand their business operations in the emerging countries by introducing innovative solutions to enhance their product portfolio. Product launch and agreements are observed as the two prominent growth strategies adopted by the key market players such as Koninklijke Philips N.V. (The Netherlands), General Electric Company (U.S.), Siemens AG (Germany), Agfa-Gevaert N.V. (Belgium), Carestream Health, Inc. (U.S.), McKesson Corporation (U.S.), Lexmark International Inc. (U.S.), Toshiba Corporation (Japan), Esaote SpA (Italy), and Dell Inc. (U.S.).
Other players in the value chain include Medis Medical Imaging Systems BV, Circle Cardiovascular Imaging, Inc., Pie Medical Imaging, Agilent Technologies Inc., Hitachi Medical Corporation, Medtronic plc, Mindray Medical International Ltd., Hologic Inc., Paramed Medical Systems, and Millennium Technology Inc.
Medical Imaging Informatics Market Key benefits
- The study provides an in-depth analysis of the medical imaging informatics market, with current trends and future estimations to elucidate the imminent investment pockets.
- The report provides a quantitative analysis from 2014 to 2022 to enable the stakeholders to capitalize on prevailing market opportunities.
- In-depth analysis was done by constructing market estimations for the key segments between 2014 and 2022, which assists to identify the prevailing market opportunities.
- Competitive intelligence highlights the business practices followed by leading market players across various geographic regions.
- Key market players are profiled and their strategies are analyzed thoroughly, which predict the competitive outlook of the market.
MEDICAL IMAGING INFORMATICS MARKET KEY SEGMENT
- Digital Radiography
- Nuclear Imaging
By Deployment Mode
By End User
- Ambulatory Healthcare Settings
- Diagnostics and Imaging Centers
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East