There are players operating in the global medical imaging information system market, for example, Varian Medical Systems, Hitachi, Mindray Medical, Toshiba, Siemens Healthcare, GE Healthcare, Fujifilm, Philips, Hologic, Neusoft Medical Systems, and Esaote. The global medical imaging information system market is foreseen to appear highly fragmented and competitive in the span of upcoming years, says Transparency Market Research (TMR).
The key players in medical imaging information system market are focusing majorly on product advancement and innovations, along with increased investments in research and development activities for upgradation. This helps in the growth of their business that is foreseen to catalyze medical imaging information system market notably in the span of forthcoming years. The players are also indulging in various strategies for their benefits and better market position. They are undergoing mergers and acquisitions and collaborations in order to fortify their global position and expand their reach in the global medical imaging information system market.
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According to a recent report by Transparency Market Research (TMR), In year 2017, the market was worth US$772.4 mn. However, the market witnessed a decent growth and thus is likely to soar around value of US$993.6 mn by the end of forecast period. The global medical imaging information system market is foreseen to expand at a steady CAGR of 5.20% within the forecast period from 2017 to 2024.
On the basis of modality, the global medical imaging information system market is divided into positron emission tomography, mammography, computed tomography, magnetic resonance imaging, ultrasound, and X-ray. Out of these, computed tomography is dominating the market presently, and is estimated to sustain its position in the future as well. North America has been leading the global market and is anticipated to continue doing so over the forthcoming years, thanks to the presence of an advanced medical and health care infrastructure and a sufficient number of skilled professionals. This regional market is expected to report a CAGR of 5.50% between 2017 and 2024.
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Increasing Awareness Among Customers to Support Market Demand
The global medical imaging information systems market is anticipated to gain traction due to increasing need for an effective management of medical imagery and associated data and information. The growing awareness among purchasers with respect to the proficiency of medical imaging information systems to follow the billing data and orders of radiology imaging is estimated to additionally pump up the growth of these systems over the world in the years to come. The increasing use of these systems in record-keeping, billing, and monitoring picture documents together with PACS and vendor neutral archive (VNAs) is likewise anticipated to help global medical imaging information system market significantly throughout the forthcoming years.
The increasing in information and data from medical sector has propelled the development of numerous complexities, prompting the rise of novel information systems in the medical infrastructure to simplify work process and improve the nature of administration delivered. The previously mentioned components have prompted the development of medical imaging information system market. Nevertheless, lack of skilled experts is a noteworthy restriction for medical imaging information system market. Additionally, exponential development from modalities has constrained the contenders from item advancement and nonstop update, making lucrative scope for key players in the medical imaging information system market.
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Lack of Skill Medical Experts to Hinder Market Growth
Then again, the market is probably going to come across some of the drawbacks in the coming years because of the absence of specialized healthcare and medical experts, particularly in developing economies. In any case, the ceaseless innovative advancements in information systems is estimated to boost this market observably in the upcoming years.
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