Medical Imaging Information System Market will Register a CAGR of 5.20% from 2017 to 2022

Global Medical Imaging Information System Market: Snapshot

With the increasing need for efficient management of medical imagery and associated information and data, the global market for medical imaging information systems is observing a tremendous upswing in its size and valuation. The usefulness of medical imaging information systems in tracking billing information and radiology imaging orders is supporting the uptake rate of these systems across the world, leading to a high growth of this market. Going forward, the increasing usage of these systems in billing, record-keeping, and managing image archives in association with vendor neutral archive (VNAs) and PACS is likely to boost this market substantially in the years to come.

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Nowadays, the amount of data and information in the healthcare sector is piling up significantly, leading to a number of complexities. This, as a result, has paved the path for the emergence of new information systems in the medical and healthcare infrastructure in order to streamline the workflow and improve the quality of services. All these factors are expected to propel the demand for medical imaging information systems across the world in the near future. However, the market may witness hindrances in the coming years due to the lack of skilled professionals.

Nevertheless, continual update and innovation in products, triggered by tremendous growth from modalities, are likely to create lucrative opportunities for the further growth of this market, whose opportunity is anticipated to touch US$772.4 mn by 2017. Researchers estimate the market’s opportunity to further increase at a CAGR of 5.20% between 2017 and 2022 and reach a value of US$993.6 mn by the end of the 2022.

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Computed Tomography to Continue to Lead

The global market for medical imaging information systems is broadly evaluated on the basis of the modality, type of software, and the end user. Based on the modality, the market is classified into computed tomography, positron emission tomography, magnetic resonance imaging, X-ray, ultrasound, and mammography. Among these, computed tomography is leading the market, at present, and is expected to remain so over the next few years.

Based on the type of software, the market is categorized into PACS system management, radiology information systems, and integrated software solutions. With the data in the medical and healthcare industry mounting substantially, the demand for these software is likely to increase in the near future. Hospitals, diagnostic imaging centers, and ambulatory surgical centers (ASCs) have surfaced as the key end users of medical imaging information systems across the world.

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North America to Maintain Leadership

The worldwide market for medical imaging is also assessed on the basis of its geographical presence. North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan, Latin America, and Japan are considered as the main regional markets for medical imaging information systems across the world. Of these, North America has been leading the global market and is anticipated to continue doing so over the forthcoming years, thanks to the presence of an advanced medical and health care infrastructure and a sufficient number of skilled professionals. This regional market is expected to report a CAGR of 5.50% between 2017 and 2022.

Varian Medical Systems, Mindray Medical International Ltd., Hitachi Medical Corp., Toshiba Corp., Fujifilm Corp., Siemens Healthcare, Koninklijke Philips N.V., Neusoft Medical Systems Ltd., Hologic Inc., GE Healthcare, and Esaote S.P.A. are the leading vendors of medical imaging information systems across the world.