Medical Image Management Market Development And Future Trends

Summary

• Major growth strategies.
• Leading players & Growth Strategies.
• Geographic Overview.

Market growth strategies-

• Technological advancements in diagnostic imaging modalities and image management software.
• Growing investments in the medical imaging market.
• Government initiatives to encourage EMR adoption.
• Growing adoption of image management systems by small hospitals and imaging centers.

Global market size-

According to research report the medical image management market is projected to reach $4.40 billion in 2023,at a CAGR of 7.7%.

Leading Players & Growth Strategies -

Most key players adopted expansions as their primary growth strategy between 2015 and 2018. The medical image management market is marked by the presence of several big and small players. Prominent players offering medical image management products include McKesson Corporation (US), GE Company (US), Fujifilm Holdings Corporation (Japan), Merge Healthcare Inc. (US) (a part of IBM Corporation), Agfa-Gevaert Group (Belgium), Philips Healthcare (Netherlands), Siemens Healthcare (Germany), Carestream Health, Inc. (US) (a part of Onex Corporation), Bridgehead Software (UK), Novarad Corporation (US), Mach7 Technologies Ltd. (US), and INFINITT Healthcare Co., Ltd. (South Korea).

McKesson was the leading player in the medical image management market in 2017. Its leading position can be attributed to its well-diversified and robust product portfolio. As part of its growth strategy, McKesson focuses on product launches to increase its market share in the medical image management market. For instance, in April 2015, McKesson launched Conserus, a suite of flexible, vendor-neutral solutions for healthcare IT enterprise and diagnostic imaging. This vendor-neutral solution enabled the company’s customers to smoothen their workflows by allowing interoperability between the existing systems. The company also engages in inorganic strategies like joint ventures to enhance its position in this market. For instance, in 2017, the company entered into a contribution agreement to form a joint venture to create a new healthcare information technology company—Change Healthcare. 

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Geographic Overview -

In 2018, North America is expected to command the largest share of the market. The large share of this regional segment can be attributed to factors such as the large number of imaging centers in this region, ongoing research activities, and rapid adoption of technologically advanced imaging systems.