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Medical Image Management Market Growth Projections and Opportunities
Medical image management systems are widely used in healthcare to help diagnose medical problems. They are used in different medical fields like radiology, cardiology, oncology, and pathology. These systems play a crucial role in sharing patient data from various sources.
Several factors contribute to the growth of the global medical image management market. The increasing number of chronic diseases, advancements in diagnostic technology, and higher spending on healthcare IT are some of the reasons. These factors are expected to have a positive impact on the market.
However, there are challenges too. Concerns about privacy and security, as well as the high costs associated with medical imaging, may limit the growth of the global medical image management market.
The market is expected to reach USD 5971.28 million by 2025, up from USD 3529.69 million in 2018. This growth is projected to have a Compound Annual Growth Rate (CAGR) of 7.80% from 2019 to 2025. In 2018, the Americas led the market with a 40.27% share, followed by Europe and Asia-Pacific with shares of 28.69% and 23.68%, respectively. The Americas held the top market share due to increased investments in the healthcare IT sector and the presence of major market players in the region.
Looking at different regions, Asia is expected to show a higher CAGR compared to others over the forecast period. This is because there is a growing number of chronic disorders in the region.
The global medical image management market is divided based on product, end user, and region. The picture archiving and communication system segment held the largest market share (85.51%) in 2018, with a value of USD 3018.27 million. This segment is projected to register a CAGR of 7.81% from 2019 to 2025, mainly due to the increasing applications of medical image management in the healthcare industry.
In terms of end users, the hospitals segment is expected to have a higher CAGR (7.69%) during the forecast period. This is because of the increasing number of chronic disorders and advancements in diagnostic technology in hospitals.
Covered Aspects:| Report Attribute/Metric | Details |
|---|---|
| Market Size Value In 2022 | USD 5.5 Billion |
| Market Size Value In 2023 | USD 5.94 Billion |
| Growth Rate | 8.0% (2023-2032) |
Medical Image Management Market Highlights:
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