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Advanced Visualization Market is Projected to Reach $3,843.8 Million by 2023 - Key Players are GE Middle East & North Africa, Canon, Inc., Siemens, Carestream, Ziosoft (formerly Qi Imaging)
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The advanced visualization service market is expected to witness higher growth during the forecast period. The higher growth for services is attributed to the increasing demand for the implementation of advanced visualization solutions and training and education services. Among different type of advanced visualization solutions, enterprise-wide thin client-based solutions held larger share in the market in 2016, and it is also expected to witness higher growth during the forecast period. Improved data storage capacity, multi-user interface, centralized post-processing solutions, streamlined analysis, and enhanced data transfer capabilities of these solutions is significantly driving the growth of the global enterprise-wide thin client-based solutions market.
The increasing number of surgical procedures in hospitals and improved compliance for advanced visualization for the treatment of various diseases has led to the maximum installation of advanced visualization software and hardware solutions in hospitals. However, the increasing demand for early and efficient diagnosis of diseases is expected to lead to a higher growth in demand for advanced visualization software in imaging centers.
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Geographically, North America has been the largest market for advanced visualization, with the U.S. being the larger contributor to the regional market as compared to Canada. The key factor driving the North American advanced visualization market are technological advancements, increasing healthcare expenditure, growing geriatric population, improved healthcare infrastructure and growing prevalence of chronic diseases. According to the World Health Organization, approximately 324,000 new cases of lung cancer were diagnosed in North America in 2012, and the number is estimated to reach approximately 541,000 by 2030. The emerging economies in Asia-Pacific, especially China and India, are expected to grow tremendously in future, which is expected to bring the Asia-Pacific market approximately equal to the European market by 2023.
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The advanced visualization market is primarily dominated by General Electric Company, Canon, Inc., Siemens AG and Koninklijke Philips N.V. However, the significant growth in the market and immense revenue generation opportunities are attracting several new players to enter the market for advanced visualization. This makes the market highly competitive and dynamic. Some of the other key players in the advanced visualization industry are Fujifilm Holdings Corporation, Carestream Health, Agfa-Gevaert N.V., and Ziosoft.
GLOBAL ADVANCED VISUALIZATION MARKET
By Product and Service
• Hardware and Software
• Services
o Implementation Services
o Post-Sale and Maintenance Services
o Consulting/Optimization Services
o Training and Education Services
By Type of Solution
• Enterprise-Wide Thin Client-Based Solutions
• Standalone Workstation-Based Solutions
By Imaging Type
• Magnetic Resonance Imaging
• Computed Tomography
• Ultrasound
• Radiotherapy
• Nuclear Medicine
• Others
By Application
• Radiology/Interventional Radiology
• Cardiology
• Orthopedics
• Oncology
• Vascular
• Neurology
• Others
By End User
• Hospitals
• Imaging Centers
• Others
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