Global Medical Image Management Market is expected to witness a CAGR of 7% to 8% by 2027 - An Efficient Solution for Clinical Decision Making

The medical image management system is a software platform which can handle all types of medical images in a healthcare organization. Some of the major benefits of a modern medical image management system includes image capture, storage, retrieval, and distribution and further it also includes tools for image analysis and processing.

Growing Prominence of Medical Image Management Systems in the Diagnostic Sector is Driving the Growth of Medical Image Management Market

Medical image management system plays a crucial role in diagnostic imaging. One of the major benefits the system provides is an integration of medical image data with patient's electronic health records and other healthcare systems thereby offering a full view of patient health. Some of the major technologies used in these systems are Picture Archiving and Communication System (PACS), Vendor Neutral Archives (VNA), and Application-independent Clinical Archives (AICA). The integration of PACS/VNA with EHR and rising demand for cloud-based solutions are creating multiple growth opportunities for the key players operating in the global medical image management market across the world.

For instance,

In March 2023, Carestream Health unveiled its expanded Imaging Portfolio at ECR 2023 which will enhance image capture, data processing, clinical outcomes and enhance patient care.

Medical Image Management Systems Market: Future of Integrated Diagnostic Healthcare Systems

The growing number of chronic diseases, an increasing geriatric population, the growing number of imaging procedures, the demand for efficient and accurate diagnostic imaging, and the global adoption of EHR are the key growth drivers of the medical image management market. Rapidly increasing healthcare data, technological advancements in imaging modalities, and the need for integrating healthcare systems are some of the other factors fueling its growth in the global market.

For instance,

In April 2023, Intelerad showcased its enhanced Enterprise Imaging and Informatics Suite at HIMSS 2023 which featured the largest medical image exchange network. The suite breaks down siloed data and creates a seamless, vendor-neutral information hub, integrating vital patient data across the entire healthcare ecosystem. By adding the image exchange solution into the suite, health systems can securely send and receive patient data across geographies, promoting collaboration and simplifying patient access.

North America is Expected to Hold a Larger Market Share in the Medical Image Management Market

Geographically, North America holds a larger market share in the global medical image management market. This can be mainly attributed due to the rapid technological advancements in the diagnostic segment, advanced healthcare systems & infrastructures, and the presence of leading market players in the region.

However, Asia-Pacific is expected to witness a strong and consistent growth in the upcoming years, due to an increasing geriatric population, large volume of patients, an increasing case of various diseases, and rapid developments of diagnostic centers in the region.

Competitive Landscape Analysis: Medical Image Management Market

Some of the key and well-established players operating in the global medical image management market are listed below: -
• BridgeHead Software
• Carestream Health Inc.
• Fujifilm Holdings Corporation
• GE Healthcare
• Merge Healthcare Inc.
• Novarad Corporation
• Philips Healthcare
• Siemens Healthineers
• McKesson Corporation

Aggressive Growth Strategies Followed by the Key Market Players to Establish Their Strong Foothold in the Global Medical Image Management Market

All key and established players operating in the medical image management market are adopting both organic and inorganic growth strategies such as upgrading with new technology, launching new products, collaborations, advancements and acquisitions to garner a larger market share.

For instance,

In April 2023, Philips joined forces with AWS to bring Philips Health Suite Imaging PACS to the cloud. The collaboration will provide enhanced AI-enabled tools, and diagnostic capabilities to achieve efficient workflow in clinics.

The global medical image management market is a fast-growing market and is projected to gain a consistent momentum in the upcoming years due to the growing geriatric population, an increasing demand for medical imaging equipment, growing adoption of EHRs, an increasing investment in R&D activities and consistent new product launches by the key market players and aggressive organic and inorganic growth strategies adopted by the top market players.

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Ruta Halde
Associate, Medi-Tech Insights
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1050 Brussels, Belgium
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info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.