Press release
Global Medical Image Management Market to Reach $7.41 Billion by 2029, Growing at 8.3% CAGR
Medical Image Management Market
The escalating occurrence of chronic sicknesses is anticipated to stimulate the expansion of the medical image management market in the future. These are long-standing health issues or diseases that typically extend over three months or beyond. Regular medical imaging allows health practitioners to observe how chronic sicknesses play out by comparing a series of images taken periodically. This aids in evaluating treatment efficiency, modifying procedures, and recognizing any complications or changes in the patient's health status. For example, a study made public by the American College of Cardiology in August 2022 forecasts that all four cardiovascular risk factors will witness a surge in the United States from 2025 to 2060. The most notable percentage increment is foreseen in diabetes, forecasting a rise of 39.3% amounting to 55 million people, followed by dyslipidemia showing a 27.6% hike reaching 126 million, hypertension with a 25.1% increase amounting to 162 million, and obesity at an 18.3% increase totaling 126 million. The study further notes considerable projected increases in rates of cardiovascular disease, particularly stroke (with a 33.8% hike to 15 million) and heart failure (with a 33.4% increase to 13 million). Thus, the growing prevalence of chronic diseases is prompting the expansion of the medical image management market.
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What is the future CAGR of the medical image management market, and how will it impact industry expansion?
In recent years, the market size for medical image management has experienced significant growth. Expected to increase from $4.99 billion in 2024 to $5.38 billion in 2025, it has a compound annual growth rate (CAGR) of 7.9%. The notable growth during the historic period is attributed to the rise in chronic diseases, an increase in the number of hospitals, and a higher adoption rate of image management systems.
The market size of medical image management is forecasted to experience robust growth in the coming years, increasing to $7.41 billion by 2029 with a compound annual growth rate (CAGR) of 8.3%. This predicted growth in the forecast period can be ascribed to the rising use of imaging equipment, the growing adoption of image management systems, an increase in the employment of imaging technology, and a surge in imaging volumes due to aging. Key trends in the forecast period encompass the adoption of AI technology, increasing opportunities for acquisitions across various skills, image management solutions, advancements in diagnostic imaging modalities technology, and an increasing adoption of image management systems.
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What are the most significant trends transforming the medical image management market today?
The main players in the medical image management market are producing cutting-edge technological solutions such as imaging electronic medical record (EMR) software to offer their customers enhanced features and gain a market advantage. Imaging EMR software is a specialized digital tool developed to cohesively merge medical imaging data into electronic medical records (EMRs) or electronic health records (EHRs). For example, in December 2022, RamSoft Inc., a Canadian healthcare IT SaaS provider, introduced OmegaAI. This serverless, cloud-based imaging EMR software platform incorporates various crucial elements like Vendor Neutral Archive (VNA), Enterprise Imaging, Picture Archiving and Communication System (PACS), Radiology Information System (RIS), simplified image interchange or sharing, routing and storage, a zero-footprint (ZFP) viewer, etc. This software is particularly created to offer a lasting return on investment by effortlessly linking doctors to patients via a unified platform. This platform avoids care delays, allows secure sharing with permission, promotes patient independence, and fully automates the patient experience from referral to the study outcome.
Which key market segments comprise the medical image management market and drive its revenue growth?
The medical image management market covered in this report is segmented -
1) By Product: Vendor Neutral Archives (VNA), Picture Archiving And Communication Systems (PACS), Application-Independent Clinical Archives (AICA)
2) By Delivery: On Premise, Hybrid, Cloud
3) By Application: Standard Radiography, Advanced Body Imaging, Cardiovascular Imaging, Neuroradiology, Musculoskeletal Imaging And Pain Management, Oncology Imaging, Other Applications
4) By End User: Hospitals, Clinics, Diagnostic Centers, Ambulatory Surgery Centers
Subsegments:
1) By Vendor Neutral Archives (VNA): Data Integration Solutions, Storage And Retrieval Systems, Image Lifecycle Management
2) By Picture Archiving And Communication Systems (PACS): Diagnostic Imaging Solutions, Workflow Management Tools, Image Sharing And Collaboration Features
3) By Application-Independent Clinical Archives (AICA): Multi-Modal Image Storage, Long-Term Data Preservation, Clinical Data Management Tools
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What regions are at the forefront of medical image management market expansion?
North America was the largest region in the medical image management market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the medical image management market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the leading players fueling growth in the medical image management market?
Major companies operating in the medical image management market are McKesson Corporation, International Business Machines Corporation, NTT DATA Corporation, Fujifilm Holdings Corporation, Siemens Healthineers, Koninklijke Philips N.V., GE Healthcare, Hologic Inc., Agfa-Gevaert Group, Carestream Health Inc., Change Healthcare, Hyland Software Inc., Intelerad Medical Systems Incorporated, Sectra AB, Merge Healthcare Inc., Infinitt Healthcare Co. Ltd., TeraRecon Inc., Novarad Corporation, Subtle Medical Inc., Mach7 Technologies Ltd., BridgeHead Software Ltd., Zebra Medical Vision Inc., Ambra Health, Vital Images Inc
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What Is Covered In The Medical Image Management Global Market Report?
•Market Size Forecast: Examine the medical image management market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical image management market for a structured understanding.
•Key Players Overview: Analyze major players in the medical image management market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical image management market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical image management market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical image management market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical image management market.
•Competitive Landscape: Review strategic developments in the medical image management market, including expansions, agreements, and new product launches.
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