The global inspection machines market will increase at a CAGR of 5.7% from 2017 to 2022 to USD 846.4 million by 2022 , driven by growing aging population, increase in chronic and infectious diseases, increasing growth of pharmaceutical market, and various technical advancements. In addition, emergence of new application areas further provides significant opportunities for the various stakeholders in the global inspection machines market.However, the high cost of inspection machines and the growing adoption of refurbished machines is expected In the era of automation, technologically updated inspection equipment helped to overcome the problems associated with traditional approaches which used labour-intensive methods that resulted in the increase of manufacturing lead time and production cost. In addition, there is a significant delay in detecting an out of control limit. Thus, the products that are not conforming to the specified standards accrue to the additional cost of scra
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Medical Image Management Market - Global Opportunity Analysis and Industry Forecast 2024
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Meticulous Research® – leading global market research company published a research report titled “Medical Image Management Marketby 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″. According to this latest publication from Meticulous Research®, medical image management market is expected to grow at a CAGR of 7.7% from 2018 to reach $4.89 billion by 2024, driven by growing investments in the medical imaging market, technological advancements, and rising geriatric imaging volumes. This growth is also supported by growing adoption of VNA and other advanced tools, rapidly growing big data in healthcare, rising focus on value-based care, and growing health IT and EHR adoption. However, longer product lifecycle of VNA, and budgetary constraints may hinder the growth of medical image management market to some extent. In addition, integration of PACS/VNA with EMR, penetration of artificial intelligence in medical imaging, rapidly growing field of telehealth, growing adoption of hybrid and cloud-based solutions, and untapped emerging markets present high-growth opportunities for players operating in the global medical image management market.
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.
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.
Here are the Top 10 companies operating in global Medical image management market
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.
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 research report analyzes major geographies and provides comprehensive analysis of North America (U.S., Canada), Europe (Germany, France, U.K., Italy, Spain, and RoE), Asia-Pacific (Japan, China, India, and RoAPAC), Latin America, and the Middle East & Africa. North America commanded the largest share of the medical image management market in 2017, followed by Europe and Asia-Pacific.
The major players operating in the 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 Corporation), Mach7 Technologies, McKesson Corporation (Change Healthcare), Novarad Corporation, Koninklijke Philips N.V., and Siemens Healthineers, Sectra AB, INFINITT Healthcare CO., among several others.
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.
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