Medical Image Management Market (2020-2027) – Impact of COVID-19 on the Global Medical Image Management Market

PACS captured a major market share of the global medical image management market owing to significant growth in imaging technology and the increasing image management needs of radiology, cardiology, oncology, ophthalmology and other departments. In addition, rapid shift from traditional film-based image retrieval, distribution, and display; increasing adoption of telemedicine and teleradiology; growing amount of medical data in healthcare organizations; and technological advancements in imaging modalities and PACS propels the growth of PACS market.

Medical Image Management Market is segmented 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.

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According to this latest publication from Meticulous Research, The medical image management market is expected to grow at a CAGR of 7.2% from 2020 to 2027 to reach at $5.76 billion by 2027, driven by growing investments in the medical imaging market, technological advancements, rising geriatric imaging volumes, growing adoption of VNA and other advanced tools, 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 a certain extent.

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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.

Geographically, North America commanded the largest share of the global medical image management market in 2017, followed by Europe and Asia-Pacific. The large share of this region is mainly attributed to presence of major health IT and medical image management companies in the U.S., implementation of HITECH and ACA in the U.S., significant focus on collaborative care, advanced health IT infrastructure, rapidly growing big data in healthcare, emergence of AI in medical imaging, and rapidly growing field of telehealth.

TOP 10 COMPANIES IN MEDICAL IMAGE MANAGEMENT MARKET @ http://meticulousblog.org/top-10-companies-in-medical-image-management-market/

Segmentation of Medical Image Management Market:

1. Introduction

1.1. Market Definition

1.2. Currency and Limitations

1.2.1. Currency

1.2.2. Limitations

1.3. Key Stakeholders

2. Research Methodology

2.1. Research Process

2.1.1. Secondary Research

2.1.2. Primary Research

3. Executive Summary

4. Market Insights

4.1. Introduction

4.2. Drivers

4.2.1. Growing investments in the Medical Imaging Market

4.2.2. Technological Advancements in Diagnostic Imaging Modalities

4.2.3. Rising Geriatric Imaging Volumes

4.2.4. Growing Demand for Imaging Equipment

4.2.5. Rapidly growing Big Data in Healthcare

4.2.6. Growing Health IT and EHR Adoption

4.3. Restraints

4.3.1. Longer Product Lifecycle of VNAs

4.3.2. Budgetary Constraints

4.4. Opportunities

4.4.1. Integration of PACS/VNA with EMR

4.4.2. Untapped Emerging Markets

4.4.3. Penetration of Artificial Intelligence (AI) in Medical Imaging

4.4.4. Hybrid & Cloud-Based Solutions Represent High-Growth Opportunities

4.4.5. Rapidly Growing Field of Telehealth

4.5. Challenges

4.5.1. Data Migration

4.5.2. Lack of Interoperability

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5. Medical Image Management Market, by Product

5.1. Introduction

5.2. Picture Archive Communication System (PACS)

5.2.1. PACS Market, by Procurement Model

5.2.1.1. Departmental PACS

5.2.1.1.1. Radiology PACS

5.2.1.1.2. Cardiology PACS

5.2.1.1.3. Others

5.2.1.2. Enterprise PACS

5.2.2. PACS Market, by Delivery Model

5.2.2.1. On-Premise PACS

5.2.2.2. Web/Cloud-Based PACS

5.3. Vendor Neutral Archive (VNA)

5.3.1. VNA Market, by Delivery Model

5.3.1.1. On-Premise VNA

5.3.1.2. Hybrid VNA

5.3.1.3. Fully Cloud-Based VNA

5.3.2. VNA Market, by Procurement Model

5.3.2.1. Enterprise VNA

5.3.2.1.1. Multi-Departmental VNA

5.3.2.1.2. Multi-Site VNA

5.3.2.2. Departmental VNA

5.3.3. VNA Market, by Vendor Type

5.3.3.1. PACS Vendors

5.3.3.2. Independent Software Vendors

5.3.3.3. Infrastructure Vendors

5.4. Application-independent Clinical Archives (AICA)

5.4.1. Application-independent Clinical Archives Market, by Vendor Type

5.4.1.1. VNA Vendors

5.4.1.2. Native AICA Vendors

5.5. Enterprise Viewers/Universal Viewers

6. Medical Image Management Market, by End User

6.1. Introduction

6.2. Hospitals

6.3. Diagnostic Imaging Centers

6.4. Others

7. Medical Image Management Market, by Geography

7.1. Introduction

7.2. North America

7.2.1. U.S.

7.2.2. Canada

7.3. Europe

7.3.1. Germany

7.3.2. France

7.3.3. U.K.

7.3.4. Italy

7.3.5. Spain

7.3.6. RoE

7.4. Asia-Pacific

7.4.1. Japan

7.4.2. China

7.4.3. India

7.4.4. Rest of Asia-Pacific (RoAPAC)

7.5. Rest of the World (RoW)

7.5.1. Latin America

7.5.2. Middle East & Africa

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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.

Key questions answered in the report-

Which are the high growth market segments in terms of product, procurement models, delivery models, vendor types, end-users, and region/countries?

What was the historical market for medical image management market across the globe?

What are the market forecasts and estimates for the period 2018-2024?

What are the major drivers, restraints, opportunities, and challenges in the medical image management market?

Who are the major players in the medical image management market?

How is the competitive landscape and who are the market leaders in the medical image management market?

What are the recent developments in the medical image management market?

What are the different strategies adopted by the major players in the global medical image management market?

What are the geographical trends and high growth regions/ countries?

Who are the local emerging players in the medical image management market and how do they compete with the global players?

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