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Asia-Pacific Medical Image Management Market by Product [PACS (Departmental, Enterprise) Delivery (On-Premise, Cloud-based) VNA (Delivery, Procurement, Vendor) AICA (Vendor), Universal Viewer] End User (Hospitals, Diagnostic Imaging Centers) - Forecast to 2030
Report ID: MRHC - 104943 Pages: 165 Jul-2024 Formats*: PDF Category: Healthcare Delivery: 24 to 72 Hours Download Free Sample ReportThe Asia-Pacific Medical Image Management Market is projected to reach $2.07 billion by 2030, at a CAGR of 10% from 2024 to 2030. Medical image management solutions are primarily used in healthcare organizations to store medical image data in large amounts and to further digitally transmit this imaging data within the healthcare facilities as required. These solutions include Picture Archiving and Communication Systems (PACS), Vendor Neutral Archives (VNA), Application Independent Clinical Archives (AICA), and enterprise viewers/universal viewers. They are used to replace physical archiving by storing all medical image datasets digitally in an organized manner. It also allows the integration of medical image data with patient data in other records, such as electronic health records, health information systems, and radiology information systems (RIS).
The Asia-Pacific medical image management market is growing due to the increasing demand for medical image equipment, technical advancements in medical imaging, rising healthcare expenditure, and increasing geriatric population. Furthermore, the considerable growth in Southeast Asian countries and the rising adoption of hybrid & cloud-based medical imaging solutions are expected to offer immense growth opportunities for market expansion. However, the decreasing demand for vendor neutral archive solutions due to the long product lifecycle and high cost of medical imaging equipment are expected to restrain the growth of this market to some extent. In addition, lack of interoperability and stringent government regulations are the major challenges to the market’s growth.
Healthcare data is increasing exponentially and rapidly in terms of complexity, source, and application. This has enabled healthcare vendors to develop innovative solutions leveraging cloud platforms. Growing awareness of the benefits of open platforms and increasing industry focus on interoperability and collaborative solutions is leading to the demand for vertically integrated cloud platforms that open the data to multiple stakeholders.
There is a definite peak in the adoption of cloud-based clinical applications. Key opportunities for cloud platforms lie in imaging data storage, management, and analytics. Benefits offered by cloud computing, such as data back-up and disaster recovery, economies of scale, scalability, flexibility, and minimum upfront and maintenance costs, make cloud PACS and VNA a suitable deployment option, especially for SMEs who cannot afford the total on-site cost of ownership. Moreover, increasing confidence in cloud platforms, combined with the need to reduce cost, improve workflow speed & efficiency, control security & image access, and leverage meaningful business intelligence, is paving the way for hybrid model adoption among developed and developing markets.
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Technical Advancements in Medical imaging Technology is Driving the Asia-Pacific Medical Image Management Market
Medical imaging has transformed patient care and the practice of medicine by improving diagnosis & treatment. It also helps patients avoid unnecessary procedures. These benefits have boosted the demand for medical imaging services in the region. Earlier, imaging was considered a tool for disease diagnosis; however, with technological innovations, it is now used to treat, manage, and predict illnesses. Medical imaging has become essential in the diagnosis & treatment of almost all major medical conditions, such as cancer, cardiovascular disease, trauma, and neurological conditions. Technological advancements in modalities, including MRI, PET, CT, and ultrasound, have helped transform modern healthcare.
Certain key technological advancements in medical imaging are:
Such advancements in diagnostic imaging technologies are expected to propel the demand for medical image management solutions, such as PACS and VNA.
In 2024, the Picture Archive Communication System (PACS) Segment is Expected to Account for the Largest Share of the Market
Among the product types, in 2024, the PACS segment is expected to account for the largest share of the market. PACS helps quickly access images and rapidly retrieve images acquired from multiple modalities. This solution is majorly required in the radiology department due to the large amount of imaging data generated and stored, which further contributed to the growth of the market.
In 2024, the Hospitals Segment is Expected to Account for the Largest Share of the Market
Among all the end users, in 2024, the hospitals segment is expected to account for the largest share of the market. The large market share of this segment is attributed to the increased hospital admissions, the rising prevalence of diseases and their diagnosis, and the investments made for advanced healthcare infrastructure.
China: Largest Share of the Asia-Pacific Medical Image Management Market
China is expected to account for the largest share of the Asia-Pacific medical image management market, followed by India. The growth in this market is attributed to the growing investment in the healthcare sector; improving healthcare infrastructure; and increasing adoption of medical imaging devices, AI, and telehealth services.
Key Players
The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by major market players in the last 3–4 years. The key players profiled in the Asia-Pacific medical image management market report are Novarad Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), INFINITT Healthcare Co., Ltd. (South Korea), Siemens Healthineers AG (Germany), Hyland Software, Inc. (U.S.), Agfa-Gevaert NV (Belgium), GE Healthcare Technologies, Inc. (U.S.), Mach7 Technologies (U.S.), BridgeHead Software Ltd. (U.K.), FUJIFILM Holdings Corporation (Japan), Sectra AB (Sweden), Change Healthcare Inc. (U.S.), and Merative (U.S.).
Scope of the Report:
Asia-Pacific Medical Image Management Market, by Product
Asia-Pacific Medical Image Management Market, by End User
Asia-Pacific Medical Image Management Market, by Country
Key questions answered in the report:
This study offers a detailed assessment of the Asia-Pacific medical image management market, including the market sizes & forecasts for various market segments such as product and end user. The Asia-Pacific medical image management study provides an in-depth analysis of several segments & subsegments of the medical image management market at the country level.
The Asia-Pacific medical image management market is projected to reach $2.07 billion by 2030, at a CAGR of 10% during the forecast period.
In 2024, the PACS segment is expected to account for the largest share of the Asia-Pacific medical image management market. PACS helps quickly access images and rapidly retrieve images acquired from multiple modalities. This solution is majorly required in the radiology department due to the large amount of imaging data generated and stored, which further contributed to the growth of the market.
In 2024, the hospitals segment is expected to account for the largest share of the market. The growth of this segment is attributed to the increasing number of patients visiting hospitals for diagnosis and surgeries, leading to a large number of medical images. This will result in the adoption of medical image management solutions in hospitals.
The growth of the Asia-Pacific medical image management market is attributed to the increasing demand for medical image management devices, technical advancements in medical imaging technology, rising healthcare expenditure, and the increasing geriatric population. Furthermore, the considerable growth in Southeast Asian countries and the rising adoption of hybrid & cloud-based medical imaging solutions offer significant opportunities for the market’s growth.
The key players profiled in the Asia-Pacific medical image management market study are Novarad Corporation (U.S.), Koninklijke Philips N.V. (Netherlands), INFINITT Healthcare Co., Ltd. (South Korea), Siemens Healthineers AG (Germany), Hyland Software, Inc. (U.S.), Agfa-Gevaert NV (Belgium), GE Healthcare Technologies, Inc. (U.S.), Mach7 Technologies (U.S.), BridgeHead Software Ltd. (U.K.), FUJIFILM Holdings Corporation (Japan), Sectra AB (Sweden), Change Healthcare Inc. (U.S.), and Merative (U.S.).
Asia-Pacific countries offer significant growth opportunities for the players operating in this market due to the rising investment in the healthcare sector, improving healthcare infrastructure, and increasing adoption of medical imaging devices, AI, and telehealth services.
Published Date: Jul-2024
Published Date: Jul-2024
Published Date: Jul-2024
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