Advanced (3D/4D) Visualization Systems Market: Precise and Accurate Imaging as Need of the Hour Sets Tone for Growth
The global advanced (3D/4D) visualization systems market is expected to witness growth in the coming years due to technological advancements in system software and hardware, integration of picture archiving and communication system (PACS), dedicated work stations, shift from thick client to thin client and cloud computing and multi-modality functions.
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The rapid increase in world geriatric population and ever increasing number of patients worldwide have fuelled the demand for quick, reliable, and accurate imaging systems. Moreover increasing investments in research and development of advanced visualization systems by private and government bodies is also expected to propel the market in the near future.
The global market for advanced (3D/4D) visualization systems has been analyzed on the basis of platform, application, end-user and geography. Ultrasound AVS, Magnetic Resonance Imaging AVS, Computed Tomography AVS, Positron Emission Tomography AVS and others (radiotherapy AVS, nuclear medicine AVS, etc.) are the platforms majorly emphasized in the report. The market has been segmented into key application areas such as cardiology, neurology, oncology and others (orthopedics, gastrointestinal, gynecology, pulmonary medicine, etc.). On the basis of end-user the market is segmented into hospitals, diagnostic labs and academics & research. The major geographies analyzed include North America, Europe, Asia-Pacific, Middle East & Africa and Latin America.
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North America held the largest share in the global advanced (3D/4D) visualization systems market in 2015 owing to the presence of superior healthcare base, strong regional economics, increasing patient awareness and easy access to the advanced technology. Rapidly increasing geriatric population is also one of the major drivers for the market in the region. According to the data by the U.S. Census Bureau, almost 19% of the region’s population will be above 65 years of age by the year 2030.
The U.S. Food and Drug Administration (FDA) have made digitization and storing of patients’ data mandatory in December 2015. The advanced (3D/4D) visualization systems market in Europe is witnessing a rapid surge, attributed mainly to the increasing healthcare expenditure coupled with efforts to optimize these expenditures by utilizing novel medical approaches. The developing nations in Asia Pacific such as China, India and Malaysia are poised to be the most promising markets for the AVS technology in the near future. The prime factors for the positive outlook are large number of under-served patient population, extensive development of healthcare infrastructure, and the growing emphasis on the research & development in healthcare sector. However high cost for set-up and maintenance can be a major restraint for the market in regions like the Middle-East and Africa.
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On the basis of platform, CT AVS forms the largest market share, though MRI AVS market is expected to grow at the fastest pace due to its non-invasive nature and painless procedure and no use of ionizing radiation. On the basis of applications, neurology accounted for the largest market share in 2015, followed by cardiology, oncology and other segments such as orthopedics, gastrointestinal, and gynecology. Oncology is the most promising segment in the coming years due to rapid increase in the cancer cases worldwide. According to a study by the American Cancer Society, the global number of cancer cases is estimated to reach 21.4 million by 2030. Hospitals are the largest end-user of the AVS technology and are expected to expand at the highest CAGR owing to the vital need of AVS technology in diagnosis of various diseases.
The key companies profiled in the report include Carestream Health, Inc., CONMED Corporation, Fujifilm Holding America Corporation, GE Healthcare, Intelerad Medical Systems Incorporated, Philips Healthcare, QI Imaging, LLC, Siemens Healthcare, Terarecon, Inc., Toshiba Medical Systems Corporation, Visage Imaging, and Visualization Sciences Group.
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