Portland, OR -- (SBWIRE) -- 06/19/2017 -- Medical Imaging Informatics Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $5,383 million by 2022, registering a CAGR of 5.6% during the period 2016-2022. Software segment dominated the market in 2015 and expected to continue its dominance. North America accounted for around half of the Global medical imaging informatics market in 2015.
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Increase in the number of diagnostic imaging procedures, high prevalence of chronic diseases, decrease in cost of medical imaging informatics data storage platforms, and improving healthcare ecosystems are the major factors that drive the growth of the market. However, lack of expertise to operate information technology integrated imaging modalities and high installation cost of medical imaging informatics solutions restrict the market growth. Furthermore, developing countries, such as China and India, are expected to provide huge growth opportunities to this market.
In the year 2015, the software component segment accounted majority share of the overall medical imaging informatics market due to increase in demand for medical imaging software and rise in number of medical imaging procedures globally.
The digital radiography segment held the leading position with over two-seventh market share of the Global medical imaging informatics market in 2015, owing to the frequent use of digital radiography systems in the healthcare facilities. However, the mammography segment is estimated to register fastest growth with the CAGR of 9.0% during the forecast period, owing to innovative and advanced applications of mammography and increase in incidences of breast cancer worldwide.
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In the year 2015, the web-based deployment mode segment accounted over two-third share of overall market due to the easy and low-cost installation of web-based deployment mode in the healthcare settings.
Among the end user, the hospital segment held around half share of the Global medical imaging informatics market in 2015 and is expected to maintain its leading position throughout the analysis period, due to increase in hospital visits & hospitalization cases and increase in government support in the form of funds to screen various diseases in the public and not-for-profit hospitals.
North America and Europe together accounted around three-fourth share of overall market in 2015, and is expected to maintain this lead throughout the forecast period. The growth in the medical imaging informatics market in these regions attribute to increase in demand for medical informatics technology, high adoption rate of technological advanced healthcare IT systems, well-established healthcare infrastructure, and presence of leading players such as Dell Inc., General Electric Company, Siemens AG, and others. However, Asia-Pacific is projected to grow fastest, registering a CAGR of 7.7%, owing to the rise in number of diagnostic imaging procedures due to high prevalence of chronic diseases and growth in geriatric population. Moreover, increase in R&D investments in the region and improving healthcare infrastructure are expected to support the growth of the medical imaging informatics market.
Key findings of Medical Imaging Informatics Market:
In the year 2015, software component was the leading segment of overall medical imaging informatics market revenue, and is projected to grow at a CAGR of 5.5% during the forecast period.
North America accounted for around half of the Global medical imaging informatics market in 2015.
The digital radiography segment is projected to generate largest revenue in the Global medical imaging informatics market.
Japan alone is the major shareholder in the Asia-Pacific region accounting for around one-third share of the Asia-Pacific medical imaging informatics market.
The key players in the medical imaging informatics market focus on expanding their business operations in the emerging countries with new product launches as the key strategy. The key players profiled in this report include Koninklijke Philips N.V. (The Netherlands), General Electric Company (U.S.), Siemens AG (Germany), Agfa-Gevaert N.V. (Belgium), Carestream Health, Inc. (U.S.), McKesson Corporation (U.S.), Lexmark International Inc. (U.S.), Toshiba Corporation (Japan), Esaote SpA (Italy), and Dell Inc. (U.S.).