Medical Image Management Market Share

Global Medical Image Management Market Overview

Medical Image Management Market Size was valued at USD 5.94 Billion in 2023. The Medical Image Management market industry is projected to grow from USD 6.41 Billion in 2024 to USD 10.9 Billion by 2032, exhibiting a compound yearly growth rate (CAGR) of 6.85% during the forecast period (2024 - 2032).Increased incidence of chronic diseases and technological advancements in the diagnostic sector are the key market drivers enhancing the market growth.

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

In April 2023, the American Alliance of Orthopaedic Executives (AAOE) and mymedicalimages.com have formed a collaboration to enable doctors to discontinue the use of CDs for viewing medical images. Patients can conveniently submit their medical photographs to their doctor before their visit by using the Upload on mymedicalimages feature available on orthopaedic practice websites. There are about 7,400 CVS Pharmacy shops that offer picture kiosks.

In November 2022, Amazon Web Services, the dominant player in cloud computing, is improving its HealthLake data-management service by introducing two specialized features designed for the imaging sector. Consequently, it is receiving extensive endorsement from both the healthcare and imaging sectors. Amazon HealthLake Imaging, provided by AWS, facilitates the comprehensive management of healthcare providers' radiological imaging data from start to finish. Additionally, Amazon HealthLake Analytics, also offered by AWS, enables healthcare providers to do intricate data analysis across several clinical domains. 

Medical Image Management Market Trends

• Growing technological advancement in the field of healthcare facilities is driving the market growth.

Market CAGR for medical image management is being driven by the rising technological advancement in the field of healthcare facilities. Medical imaging has an important function in different medical settings and all the main levels of healthcare. With the advancement in imaging modalities and improved function of imaging in patient care management, there is a fast growth in image volumes in cardiology, radiology, oncology, and others. The rise in investment by the key market players in medical imaging systems and the rapid growth of big data in healthcare is fueling the demand for the medical image management system.

The technological advancement in diagnostic imaging modalities and image management solutions, boosting the imaging equipment, and rising adoption of Vendor Neutral Archive (VNA). There is increased adoption by small imaging centers and hospitals, and a large number of big data in healthcare is growing the demand for imaging management systems. The government is taking the rapid initiative to encourage electronic medical record adoption is likely to boost the market. The growing geriatric population and the growing healthcare IT and EHR adoption is increasing the market growth. All medical images at recent can be first generated in digital form and later stored in PACS. This digital storage results in a significant reduction in cost while raising the space availability in the facility and enhancing the overall efficiency of imaging centers. Innovation in integration technology has offered the flexibility to provide enhanced interface implementation. Thus, the user can now use a standard web browser to access medical imaging studies in the comprehensive medical records/charts of patients. Different EMRs and different imaging solutions are present in large health systems throughout many departments.

As stated by the United Nations Department of Economics and Social Affairs report, people aged 60 years or above are increasing at a high rate, and it is expected to reach 21.1% by the end of 2050. Hence the rate of increase in chronic disease is high globally. Thus, driving the Medical Image Management market revenue.

Medical Image Management Market Segment Insights

Medical Image Management Product Insights

The Medical Image Management market segmentation, based on product, includes Application-Independent Clinical Archives, Picture Archiving and Communication Systems, and Vendor Neutral Archive. The picture archiving and communication systems segment dominates the market, accounting for the largest market revenue. The PACS system developed innovative technology, including 3D imaging and manual and automatic adjustment of the interface. The implementation of such a high-quality PACS system provides advantages to hospitals. There is rising adoption of PACS in small hospitals and imaging centers, and the advancement in technology for PACS has increased the adoption in ophthalmology, endoscopy, oncology, and mammography, and initiatives taken by the government are encouraging the demand for Healthcare IT.

Medical Image Management End User Insights

 The Medical Image Management market segmentation, based on end users, includes Diagnostic imaging Centers, Hospitals, and Others. The hospitals category dominates the market due to the growing patient population, expansion of data digitization, knowledge of the advantages of early illness detection, and rapid demand for EMR. Furthermore, the growth in the number of hospitals, mainly in developing countries, growth in the burden of chronic diseases related to the geriatric population, investment to integrate advanced solutions like VNAs in hospitals, and rapid adoption of medical imaging equipment. All these factors increase the volume of images that need to be managed properly and effectively.

Figure 1: Medical Image Management Market, by End Users, 2023 & 2032 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Medical Image Management Regional Insights

By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. The North American Medical Image Management market dominates the market as this region has numerous imaging facilities, fast adoption of advanced imaging technology, and active research projects. The government initiatives for digitization, the rise in utilization of HER/EMR and data storage & sharing systems, and others have increased the adoption of image management in this region. The US is the highest contributor of the medical image management market in the North American region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Medical Image Management MARKET SHARE BY REGION 2023 (USD Billion) 

Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

Europe's Medical Image Management market accounts for the second-largest market share due to the increase in the population of patients number with strokes and cardiovascular disorders and the availability of advanced treatment facilities. Further, the German Medical Image Management market held the largest market share, and the UK Medical Image Management market was the fastest-growing market in the European region.

The Asia-Pacific Medical Image Management Market is expected to grow at the rapid CAGR from 2024 to 2032. This is due to the presence of populous countries, increasing technological advancements, and health expenditures in the region. Moreover, China’s Medical Image Management market held the largest market share, and the Indian Medical Image Management market was the rapid-growing market in the Asia-Pacific region.

Medical Image Management Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to spread their product lines, which will help the Medical Image Management market grow even more. Market participants are also undertaking a various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, the Medical Image Management industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the Medical Image Management industry to benefit clients and increase the market sector. In recent years, the Medical Image Management industry has offered some of the most significant advantages to medicine. Major market players in the Medical Image Management market, including Philips, Intelerad Medical Systems, Canadian Teleradiology Services Inc, Sectra AB, Siemens Healthineers, GE Healthcare, Fujifilm Holdings Corporation, Carestream Health Inc., IBM Corporation, McKesson Corporation, Agra-Gevaert Group, Novarad, and others, are attempting to increase market demand by investing in research and development operations.

Sectra AB is a medical IT and cybersecurity solutions provider; with this, it helps hospitals globally to improve the efficiency of care and important social functions, defense forces, and authorities to protect the most sensitive information of the society in Europe. The company manufactures and distributes technologies for medical systems and secure communication systems, concentrating in two main categories: Image IT Solutions and Secure communications. In April 2022, the company signed a contract with North York General Hospital (NYGH) in Canada. The radiology and breast imaging modules and vendor-neutral archive of imaging solutions of Sectra enterprise will be utilized by NYGH to review and store images. This will help NYGH to enhance radiology reading efficiency and improve the current workflows to provide the best patient care without increasing the workload on the staff.

Philips is a Dutch multinational conglomerate corporation founded in Eindhoven in 1891. Formerly, It was one of the largest electronics companies, but at present, it emphasizes the area of health technology. Philips is organized into three divisions; personal health, connected care, and diagnosis & treatment. In April 2022, Prisma Health and Royal Philips and South Carolina's one of largest non-profit healthcare systems, signed a multi-year agreement to assist the health system to gain enterprise interoperability, standardized patient monitoring, and drive innovation for enterprise imaging solutions in order to provide better patient care and enhance clinical performance. The companies will develop healthcare across the enterprise and unlock the power of patient data, as per the agreement.

Key Companies in the Medical Image Management market include

• Philips


• Intelerad Medical Systems


• Canadian Teleradiology Services Inc


• Sectra AB


• Siemens Healthineers


• GE Healthcare


• Fujifilm Holdings Corporation


• Carestream Health Inc.


• IBM Corporation


• McKesson Corporation


• Agra-Gevaert Group


• Novarad

Medical Image Management Industry Developments

March 2022:Cloud-enabled enterprise imaging informatics and analytic solutions was introduced by Philips. Philips Health Suite Interoperability s a fully integrated cloud-enabled Health IT platform in order to provide diverse workflow requirements throughout the imaging enterprise.

March 2022:Intelerad Medical Systems announced its new Enterprise Imaging and Informatics Suite at the 2022 HIMSS Health Conference & Exhibition. Hospitals and health systems are empowered by the suite of Intelerad to break down siloed data and create a seamless, vendor-neutral information hub, integrating crucial patient data throughout the whole healthcare ecosystem.

January 2021:Canadian Teleradiology Services, Inc. (CTS) partnered with ramSoft's cloud Power Server PACS to offer remote radiology services to their hospital clients; CTS is a subsidiary of Level Jump Healthcare Corp.

Medical Image Management Market Segmentation

Medical Image Management Product Outlook

• Application-Independent Clinical Archives


• Picture Archiving and Communication System


• Vendor Neutral Archive

Medical Image Management End User Outlook

• Diagnostic imaging Centers


• Hospitals


• Others

Medical Image Management Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America