Advanced Visualization Market worth $6.55 billion by 2029
The report "Advanced Visualization Market by Type (Enterprise, Standalone), Modality (MRI, CT, PET, Ultrasound, Radiotherapy, Nuclear Medicine), Application (Radiology, Oncology, Neuro), End User (Hospital, ASC, Diagnostic Center) & Region - Global Forecast to 2029 ", is projected to reach USD 6.55 billion by 2029 from USD 3.78 billion in 2024, at a CAGR of 11.7% during the forecast period.
Browse 298 market data Tables and 51 Figures spread through 324 Pages and in-depth TOC on "Advanced Visualization Market by Type (Enterprise, Standalone), Modality (MRI, CT, PET, Ultrasound, Radiotherapy, Nuclear Medicine), Application (Radiology, Oncology, Neuro), End User (Hospital, ASC, Diagnostic Center) & Region - Global Forecast to 2029 "
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The market for advanced visualization solutions is expanding rapidly owing to a number of factors. The growing focus on value-based care, increasing establishment of hospitals & diagnostic imaging centers, the surging demand for AI & data analytics for diagnostics & imaging, and the emerging economies like China, India, Brazil, South Korea, etc. offer lucrative opportunities for the growth of the market. However, the shortage of skilled professionals to operate visualization tools, and the hospital budget cuts are some of the factors that challenge market growth.
The implementation service segment holds the largest market share in the advanced visualization services market by type.
On the basis of type, the advanced visualization services market is segmented into implementation services, post-sale and maintenance services, consulting/optimization services, and training & education. In 2023, the implementation services segment is accounted to hold the largest share of the advanced visualization market. The large share of this segment can be attributed to the surging demand for advancements in AI & 3D/4D imaging, rising incidence of chronic diseases & the need for accurste & timely diagnosis of those, shift towards personalized medicine. The integration of these services with PACS & EMR systems further enhances the adoption enabling remote access & streamlines workflows.
The radiological/interventional radiological applications accounted to hold the largest share in the advanced visualization market, by application.
Radiological/interventional radiological applications, cardiological applications, orthopedic applications, oncological applications, vascular applications, neurological applications, and other applications make up the advanced visualization market, by application. The radiological/interventional radiological applications segment accounted for the largest share of the advanced visualization market in 2023. Significant share of this segment is attributed to the increasing adoption of complex imaging technologies, such as PACS (Picture Archiving and Communication Systems), RIS (Radiology Information Systems), AI-powered advanced visualization tools. There is an growing need for detailed analysis of anatomical structures, early detection of diseases like cancer or neurological disorders, and more precise treatment planning, including surgical interventions further supporting the growth.
Asia Pacific to witness a considerable growth rate during the forecast period.
The Advanced visualization market is segmented into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. The Asia Pacific region is projected to see a significant growth with a noticeable annual growth rate during the forecast period. Factors driving the growth of advanced visualization solutions in the region include a gradual shift towards adopting technologies like automation, AI, ML, etc., rising investments attracting new market players, and the presence of leading educational institutions and research centers in Asia-Pacific that drive scientific innovation and technological progress. Moreover, increased direct investments from European and North American pharmaceutical and biotechnology companies in Asia are expected to drive the adoption of advanced visualization solutions in the region.
Key Players
Agfa-Gevaert Group (Belgium), Canon Medical Systems Corporation (Japan), Fujifilm Holdings Corporation (Japan), GE Healthcare (US), Koninklijke Philips N.V. (Netherlands), Siemens Healthineers AG (Germany), Stryker (US), Change Healthcare (US), TeraRecon (US), Ziosoft (Japan), Pro Medicus, Ltd (Australia), Carestream Health (US), Fovia, Inc. (US), 4DMedical (Australia), Synopsys, Inc. (US), Novarad (US), AnalyzeDirect, Inc. (US), Syntermed Inc. (Netherlands), Pie Medical Imaging B.V. (Netherlands), Infinitt Healthcare Co., Ltd. (US), Biotronics 3D (UK), Minnovaa Innovations Oü (Estonia), Postdicom (Netherlands), CitiusTech Inc (US), Ceevra, Inc. (US) are the major players in this market. These companies are majorly focusing on the strategies such as acquisitions, collaborations, partnerships, expansion and product launches and updates in order to remain competitive and further increase their share in the market.
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