The global medical imaging informatics market was valued at $2,572.9 million in 2020 and is projected to reach $4,795.9 million by 2030, growing at a CAGR of 6.2% from 2020 to 2030.
Medical imaging informatics involves usage of digital technology to capture medical images facilitating data analysis to record and correlate observations and draw conclusions that play a vital role in the diagnosis of medical problems. The implementation of electronic health records (EHR) in the healthcare industry increases the demand for medical imaging informatics for exchanging of medical images in various departments of healthcare settings.
The medical imaging informatics market is expected to witness significant growth during the forecast period due to increase in number of diagnostic imaging procedures, high prevalence of chronic diseases, decreasing cost of storage platforms, and improvements in healthcare ecosystem. However, lack of expertise to operate medical imaging informatics solutions and their high installation cost restrict the market growth. On the contrary, the developing countries, such as China and India, are expected to provide lucrative opportunities in this market.
The medical imaging informatics market is segmented into component, application, deployment mode, end user, and region. Depending on component, the market is segregated into software, hardware, and services. On the basis of application, it is categorized into digital radiography and computed radiography; ultrasound; magnetic resonance imaging (MRI); computed tomography (CT); nuclear imaging, and mammography. By deployment mode, it is fragmented into standalone and integrated. As per end user, it is differentiated into hospitals, specialized clinics, and others.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key companies operating in the medical imaging informatics market are Afga-Gevaert N.V., Carestream Health, General Electric Company, Hologic, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., Mindray Medical International Ltd., Siemens AG, Esaote SpA, and Mckesson Corporation.
Major players such as Esaote SpA, Cartestream Health, and Hologic, Inc., and Koninklijke Philips N.V. have adopted product launch to improve their product portfolio to sustain the competitive environment. For instance, in February 2022, Philips's point of care ultrasound technology includes Pulse Wave Doppler for the utility of handheld ultrasound. This will improve the product portfolio of the company. Such developments are expected to provide lucrative opportunities for the major players for the growth of the market.
Medical imaging informatics involves usage of digital technology to capture medical images facilitating data analysis to record and correlate observations and draw conclusions that play a vital role in the diagnosis of medical problems. The implementation of electronic health records (EHR) in the healthcare industry increases the demand for medical imaging informatics for exchanging of medical images in various departments of healthcare settings.
The medical imaging informatics market is expected to witness significant growth during the forecast period due to increase in number of diagnostic imaging procedures, high prevalence of chronic diseases, decreasing cost of storage platforms, and improvements in healthcare ecosystem. However, lack of expertise to operate medical imaging informatics solutions and their high installation cost restrict the market growth. On the contrary, the developing countries, such as China and India, are expected to provide lucrative opportunities in this market.
The medical imaging informatics market is segmented into component, application, deployment mode, end user, and region. Depending on component, the market is segregated into software, hardware, and services. On the basis of application, it is categorized into digital radiography and computed radiography; ultrasound; magnetic resonance imaging (MRI); computed tomography (CT); nuclear imaging, and mammography. By deployment mode, it is fragmented into standalone and integrated. As per end user, it is differentiated into hospitals, specialized clinics, and others.
Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
The key companies operating in the medical imaging informatics market are Afga-Gevaert N.V., Carestream Health, General Electric Company, Hologic, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., Mindray Medical International Ltd., Siemens AG, Esaote SpA, and Mckesson Corporation.
Major players such as Esaote SpA, Cartestream Health, and Hologic, Inc., and Koninklijke Philips N.V. have adopted product launch to improve their product portfolio to sustain the competitive environment. For instance, in February 2022, Philips's point of care ultrasound technology includes Pulse Wave Doppler for the utility of handheld ultrasound. This will improve the product portfolio of the company. Such developments are expected to provide lucrative opportunities for the major players for the growth of the market.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical imaging informatics market analysis from 2020 to 2030 to identify the prevailing medical imaging informatics market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the medical imaging informatics market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global medical imaging informatics market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Component
- Software
- Hardware
- Services
By Application
- Mammography
- CT
- MRI
- Combined Modality
- Ultrasound
- Radiographic
- Nuclear Imaging
By Deployment
- Standalone
- Integrated
By End User
- Hospitals
- Specialized Clinics
- Others
By Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Spain
- Rest of Europe
- Germany
- Italy
- France
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Rest Of Asia Pacific
- LAMEA
- Latin America
- Middle East
- Africa
Key Market Players
- Koninklijke Philips N.V.
- General Electric Company
- Siemens AG
- Agfa Gevaert N.V.
- Medtronic, Inc.
- McKesson Corporation
- lexmark international, inc.
- toshiba corporation
- Esaote SpA
- Dell Technologies Inc.
Table of Contents
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: MEDICAL IMAGING INFORMATICS MARKET, BY COMPONENT
CHAPTER 5: MEDICAL IMAGING INFORMATICS MARKET, BY APPLICATION
CHAPTER 6: MEDICAL IMAGING INFORMATICS MARKET, BY DEPLOYMENT
CHAPTER 7: MEDICAL IMAGING INFORMATICS MARKET, BY END USER
CHAPTER 8: MEDICAL IMAGING INFORMATICS MARKET, BY REGION
CHAPTER 9: COMPANY LANDSCAPE
CHAPTER 10: COMPANY PROFILES
LIST OF TABLES
LIST OF FIGURES
Executive Summary
According to this report titled, The medical imaging informatics market size was valued at $2.6 billion in 2020, and is estimated to reach $4.8 billion by 2030, growing at a CAGR of 6.2% from 2021 to 2030. The medical imaging informatics market forecast from 2020 to 2030.The major factors that boost the growth of the global medical imaging informatics industry include increase in number of diagnostic imaging procedures, high prevalence of chronic diseases, decline in cost of storage platforms, and improvements in healthcare ecosystem. In addition, the developing countries such as China and India are expected to provide huge growth opportunities for the medical imaging informatics market. However, lack of expertise to operate medical imaging informatics solutions and their high installation cost of hamper the market growth.
The global medical imaging informatics market size is segmented into component, application, deployment, end user, and region. On the basis of component, the market is fragmented into software, hardware and services. In 2020, the software segment accounted for the largest share of 61.3% of the overall medical imaging informatics market.
Depending on application, the medical imaging informatics market analysis is categorized into digital radiography, ultrasound, MRI, CT, nuclear imaging, combined modality, and mammography. The ultrasound segment held the largest medical imaging informatics market share of 31.0% of the medical imaging informatics market in 2020, owing to frequent use of ultrasound in healthcare facilities for medical imaging procedures.
By deployment mode, the medical imaging informatics market is bifurcated in standalone and integrated. The standalone segment garnered the largest market share of 63.0% in 2020.
As per end user, the market is differentiated into hospital, specialty clinics, and others. The hospitals segment dominated the market in 2020.
Region wise, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America exhibited the highest growth in 2020, owing to improvement in healthcare infrastructures and rise in expenditure in emerging markets (India and China) to overcome the unmet medical needs. Technological advancements to develop cost-effective devices in these nations offer a lucrative opportunity for market growth.
The key players profiled in the market report include such as Afga-Gevaert N.V., Carestream Health, General Electric Company, Hologic, Inc., Konica Minolta, Inc., Koninklijke Philips N.V., Mindray Medical International Ltd., Siemens AG, Esaote SpA, and Mckesson Corporation.
Major players are adopting product launch and acquisition as key developmental strategies to improve the product portfolio of warehouse robots. For instance, in December 2019, Hologic Inc. acquired Alpha Imaging LLC for a purchasing price of18.0 million. This will improve the product portfolio of the company.
Several manufacturers in the global medical imaging informatics market stopped their business activities in 2020 due to lockdowns implemented in developed and developing countries, owing to ban on industrial activities due to the COVID-19 pandemic. This halt in production activities impacted the revenue of the medical imaging informatics manufacturing companies. For instance, net sales of Konica net sales dropped by 11.2% from April 2020 to March 2021. In addition, lack of manpower and raw materials affected the supply chain of the global medical imaging informatics market. However, the market is projected to cover from the 1st quarter of 2023, due to reduced restrictions and reopening of the global medical imaging informatics industry. Moreover, in 2021, with the availability of vaccine against COVID-19, the market re-opened at full pace with a start of 2022.
Companies Mentioned
- Koninklijke Philips N.V.
- General Electric Company
- Siemens AG
- Agfa Gevaert N.V.
- Medtronic, Inc.
- McKesson Corporation
- lexmark international, inc.
- toshiba corporation
- Esaote SpA
- Dell Technologies Inc.
Methodology
The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.
They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.
They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles and other related releases for market evaluation
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast
Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 191 |
| Published | March 2022 |
| Forecast Period | 2020 - 2030 |
| Estimated Market Value ( USD | $ 2572.9 million |
| Forecasted Market Value ( USD | $ 4795.9 million |
| Compound Annual Growth Rate | 6.4% |
| Regions Covered | Global |
| No. of Companies Mentioned | 10 |
