Press release
North America Medical Image Management Market to be Worth $2.3 Billion by 2030
The North America Medical Image Management Market is projected to reach $2.3 billion by 2030, at a CAGR of 6% from 2023 to 2030. Medical imaging holds significant importance across different medical settings and at various levels of healthcare. Medical image management solutions enable the seamless integration of medical image data with patient information in other records, including electronic health records, health information systems, and radiology information systems (RIS).Additionally, the growing integration of PACS & VNA with EMR, big data in the healthcare sector, penetration of artificial intelligence in medical imaging, adoption of hybrid & cloud-based medical imaging solutions, and telehealth market offer significant market growth opportunities. However, data migration and lack of interoperability are the major challenges for the market's growth.
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Key Players
The key players operating in the North America medical image management market are Novarad Corporation (U.S.), GE HealthCare Technologies Inc. (U.S.), Hyland Software, Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), INFINITT Healthcare Co., Ltd. (South Korea), Siemens Healthineers AG (Germany), Agfa-Gevaert NV (Belgium), Mach7 Technologies (U.S.), FUJIFILM Holdings Corporation (Japan), Merative (U.S.), Sectra AB (Sweden), and Change Healthcare Inc. (U.S.).
The North America medical image management market is segmented by Product [Picture Archive Communication System (PACS), by Type-Departmental {Radiology, Mammography (Traditional Mammography PACS, Vendor Neutral Mammography PACS), Cardiology, Other Departmental PACS}, Enterprise PACS], [Picture Archive Communication System (PACS), by Delivery- On-premise PACS, Web/Cloud-based PACS], [Vendor Neutral Archive (VNA), by Delivery- On-premise VNA, Hybrid VNA, Web/Cloud-based VNA], [Vendor Neutral Archive (VNA), by Procurement Model- Enterprise VNA (Multi-departmental VNA, Multi-site VNA), Departmental VNA], [Vendor Neutral Archive (VNA), by Vendor Type- Independent Software Vendors, PACS Vendors, Infrastructure Vendors], [Application-independent Clinical Archives (AICA), by Vendor Type- VNA Vendors, Native AICA Vendors], Enterprise/Universal Viewers, and Geography. The study also evaluates industry competitors and analyzes the country-level markets.
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Among the products, in 2023, the PACS segment is expected to account for the largest share of the North America medical image management market. Healthcare organizations are adopting picture archiving and communication systems (PACS) for easy storage, rapid retrieval of images, quick access to images acquired from multiple modalities, easy sharing of enterprise medical imaging reports electronically, and simultaneous access to multiple sites. The significant market share of this segment is attributed to the growing demand for Picture Archiving and Communication Systems (PACS) in various departments, which subsequently drives the implementation of PACS. These departments encompass radiology, mammography, cardiology, dentistry, neurology, and pathology.
Among the end users included in the report, in 2023, the hospitals segment is expected to account for the largest share of the North America medical image management market. The significant market share of this segment is attributed to the increased adoption of Picture Archiving and Communication Systems (PACS) and Vendor Neutral Archives (VNA) solutions in hospitals and the replacement of traditional hardcopy-based medical images like film archives. Additionally, the COVID-19 pandemic resulted in a surge of medical images, particularly lung images, further leading to the implementation of medical image management solutions.
Geographic Review
This research report analyzes major geographies in North America, namely U.S. and Canada. In 2023, the U.S. is expected to account for the largest share of the North America medical image management market. The well-established healthcare system in the country, increased adoption of advanced technologies, growing prevalence of chronic diseases, and presence of major players propel the growth of the medical image management market in the country.
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Key questions answered in the report-
Which are the high-growth market segments in terms of product, end user, and countries?
What was the historical market for medical image management in North America?
What are the market forecasts and estimates for the period 2023-2030?
What are the major drivers, restraints, opportunities, and challenges in the North America medical image management market?
Who are the major players in the North America medical image management market?
What is the competitive landscape, and who are the market leaders in the North America medical image management market?
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