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Advanced Visualization Market to Reach $3,843.8 Million by 2023, Growing at 11.3% CAGR

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Published Date:   June 2017

The advanced visualization market is projected to valued $3,843.8 million by 2023, witnessing a CAGR of 11.3% during 2017– 2023, increasing need for the efficient and early diagnosis of diseases, rising prevalence of chronic diseases, and advancements in technologies are driving the growth of the advanced visualization market, globally. Increasing geriatric population and integration of advanced visualization solutions in mobile devices are further expected to boost the growth of the market. Besides, the growing deployment of picture archiving and communication systems (PACSs) in emerging economies is expected to offer lucrative opportunities to the vendors in the market.

Insights on the market segments

Based on product and services, the hardware and software category contributed the higher revenue to the advanced visualization market in 2016 because of the rapid installation of such hardware and software by healthcare practitioners. The market for this category is predicted to display a healthy CAGR during the forecast period, on account of the growing implementation of advanced visualization solutions and increasing demand for training and education services.

Browse Detailed Report Overview at: https://www.psmarketresearch.com/market-analysis/advanced-visualization-market 

On the basis of solution type, the enterprise-wide thin client-based solutions category dominated the global advanced visualization market in 2016 in terms of revenue generation and is predicted to progress with the higher CAGR during the forecast period. Improvements in data storage capacity, emergence of multi-user interface, centralization of post-processing solutions, streamlining of analysis, and enhancements in the data transfer capabilities of these solutions are pushing the market for this category across the world.

Based on imaging type, the magnetic resonance imaging (MRI) category accounted for the largest revenue share in the advanced visualization market in 2016. MRI is a safe and accurate diagnostic imaging method, which is being rapidly employed in numerous medical applications, such as cardiology and oncology. Therefore, the demand for MRI-based advanced visualization solutions is rising across the globe.

On the basis of end user, hospitals generated the highest revenue for the advanced visualization market in 2016. The heavy usage of such systems in hospitals is because of the constant increase in the volume of surgeries along with the rising adoption of the advanced visualization technology for diagnosing and treating several medical conditions. However, during the forecast period, the market is expected to witness the fastest growth in the imaging centers category, owing to an increase in demand for solutions facilitating early as well as efficient disease diagnosis in these healthcare settings.

North America stands as the largest market for advanced visualization solutions

On the global front, North America led the advanced visualization market in 2016, with the U.S. contributing higher revenue than Canada. The primary factors contributing to the market growth in the region are increasing healthcare expenditure, technological advancements, improving healthcare infrastructure, growing geriatric population, and rising prevalence of chronic diseases.

As per the World Health Organization (WHO), approximately 324,000 new lung cancer cases were reported in the continent in 2012, and this number is projected to increase to around 541,000 by 2030. Thus, the growing prevalence of chronic diseases in North America is expected to increase the demand for advanced visualization solutions in the region in the coming years. Moreover, countries in Asia-Pacific (APAC), particularly India and China, are expected to witness tremendous economic growth in the near future, which is further expected to bring the advanced visualization market in APAC on a par with that in Europe by 2023.

Technological advancements to have a significant impact on the market

Several technological innovations are taking place in the global advanced visualization market, further driving its growth. Advancements in medical imaging technologies and integration of PACS have significantly revolutionized clinical practices. The unceasing research and development (R&D) leading to the development of advanced diagnostic imaging systems is also helping the market to grow across the world. Besides, advancements in MRI have resulted in better image quality, increased throughput, and reduced examination time.

Owing to such advancements, hybrid MRI technologies supporting advanced visualization, which can overcome the limitations of conventional imaging techniques, are being developed and tested. Similarly, advancements in 3D and 4D ultrasound technologies are offering improved capabilities in the prenatal and neonatal domains, ranging from dynamic and multi-planar view of the fetal heart to better visualization of congenital birth defects. The 4D ultrasound technology allows the doctors to view the baby’s organs and heart as they function in real time, thus propelling the adoption of advanced visualization solutions across the globe.

Collaborations among key players to result in advanced offerings

Major companies in the advanced visualization market are engaging in collaborations to provide enhanced solutions. For instance, in November 2016, TeraRecon launched an advanced version of its iNtuition product, integrated with the Enterprise Imaging 8.1 developed by Agfa HealthCare. The combined solution offers a single-user interface for bi-directional communication between TeraRecon and Agfa viewers, accessing advanced 2D and 3D applications, and multi-series data loading for 3D analysis.

Among the other key players in the market are Canon Inc., Siemens AG, General Electric Company, Agfa-Gevaert N.V., Fujifilm Holdings Corporation, Carestream Health, Koninklijke Philips N.V., and Ziosoft.

GLOBAL ADVANCED VISUALIZATION MARKET, BY PROUCT AND SERVICE

  • Hardware and Software
  • Services
    • Implementation Services
    • Post-Sale and Maintenance Services
    • Consulting/Optimization Services
    • Training and Education Services Creams

GLOBAL ADVANCED VISUALIZATION MARKET, BY TYPE OF SOLUTION

  • Enterprise-Wide Thin Client-Based Solutions
  • Standalone Workstation-Based Solutions

GLOBAL ADVANCED VISUALIZATION MARKET, BY IMAGING TYPE

  • Magnetic Resonance Imaging
  • Computed Tomography
  • Ultrasound
  • Radiotherapy
  • Nuclear Medicine
  • Others

GLOBAL ADVANCED VISUALIZATION MARKET, BY APPLICATION

  • Radiology/Interventional Radiology
  • Cardiology
  • Orthopedics
  • Oncology
  • Vascular
  • Neurology
  • Others

GLOBAL ADVANCED VISUALIZATION MARKET, BY END USER

  • Hospitals
  • Imaging Centers
  • Others

GLOBAL ADVANCED VISUALIZATION MARKET, BY GEOGRAPHY
North America Advanced Visualization Market

  • By Product and Service
  • By Type of Solution
  • By Imaging Type
  • By Application
  • By End User
  • By Country - The U.S. and Canada

Europe Advanced Visualization Market

  • By Product and Service
  • By Type of Solution
  • By Imaging Type
  • By Application
  • By End User
  • By Country – Germany, France, the U.K., Italy and Rest of Europe

Asia-Pacific Advanced Visualization Market

  • By Product and Service
  • By Type of Solution
  • By Imaging Type
  • By Application
  • By End User
  • By Country –Japan, China, India and Rest of Asia-Pacific

Latin America Advanced Visualization Market

  • By Product and Service
  • By Type of Solution
  • By Imaging Type
  • By Application
  • By End User
  • By Country – Brazil, Mexico and Rest of Latin America

Middle East and Africa Advanced Visualization Market

  • By Product and Service
  • By Type of Solution
  • By Imaging Type
  • By Application
  • By End User
  • By Country – Turkey, South Africa and Rest of Middle East and Africa