Medical Imaging Informatics Market Forecast to 2028 –
New York, May 20, 2022 (GLOBE NEWSWIRE) — Reportlinker.com announces the release of the report “Medical Imaging Informatics Market Forecast to 2028 – COVID-19 Impact and Global Analysis By Type, Application, and Components” – https:/ /www .reportlinker.com/p06279448/?utm_source=GNW
Rising number of medical imaging procedures, rising prevalence of chronic diseases, and increasing geriatric population are driving the medical imaging informatics market. However, the lack of expertise to operate medical imaging computer systems is expected to limit the market growth over the forecast period.
Medical imaging informatics, also called imaging informatics and radiology informatics, is used to exchange and transfer medical images in all health systems. The medical imaging informatics market is the focus of the healthcare informatics market as it is one of the emerging techniques for medical image processing and analysis.
Additionally, technological advancements in diagnostic imaging procedures provide advanced imaging techniques to visualize organs, thereby improving the overall accuracy of diagnostic procedures.
An increase in the number of medical imaging procedures performed globally is propelling the growth of the market. According to a report by the National Health Service (NHS) England, around 42.7 million medical images were recorded in the country in 2018, compared to 42.1 million images recorded in 2017, indicating an increase in 1.4% per year. According to the World Health Organization (WHO), around 3.6 billion diagnostic tests are performed worldwide each year. Of these, 350 million tests are performed on pediatric patients. In addition to the increase in diagnostics, the growing focus of regional and national governments on early diagnosis of medical conditions to reduce overall healthcare costs is driving the number of patients undergoing magnetic resonance imaging (MRI), a computed tomography (CT), ultrasound, and x-rays worldwide, thus reinforcing the need for medical imaging informatics. The growing geriatric population in the world is increasing the demand for various diagnostic and medical imaging informatics devices and procedures, thus fueling the growth of the market.
Additionally, according to data from the Centers for Disease Control and Prevention, approximately 1.7 million people are diagnosed with cancer each year in the United States alone, and approximately 600,000 die from it. The cost of cancer care continues to rise and is expected to reach approximately $240 billion by 2030. Nearly 34.2 million Americans have diabetes and 88 million adults are prediabetic, putting them at risk of a risk of type 2 diabetes. Diabetes can lead to serious complications, including heart disease, kidney failure and blindness. Hence, the growing prevalence of chronic diseases and rising healthcare costs are driving the medical imaging informatics market.
Based on type, the medical imaging informatics market is segmented into digital X-ray, ultrasound, MRI, CT scan, nuclear imaging and mammography. The ultrasound segment held the largest market share in 2021.
However, the mammography segment is expected to register the highest CAGR during the forecast period. Ultrasound is one of several medical imaging modalities in the medical industry; it has recently undergone a revolution due to the increasing computing power of modern electronics.
It is described as a device that captures images of internal organs using high frequency sound waves. Ultrasonic devices consist of an ultrasonic detector or probe and a transducer.
An increase in the prevalence of chronic diseases such as cancerous tumors, gallstones, and fatty liver disease and high spending in the healthcare industry are expected to drive sales in the ultrasound segment. On the basis of application, the medical imaging informatics market is segmented into hospitals, ambulatory care facilities, diagnostic and imaging centers, and others. The hospital segment held the largest market share in 2021. The diagnostic and imaging center segment is expected to register the highest CAGR during the forecast period. Further, on the basis of components, the medical imaging informatics market is segmented into software, hardware and services. The software segment held the largest market share in 2021, and the same segment is expected to register the highest CAGR during the forecast period.
Various organic and inorganic strategies are adopted by companies operating in the medical imaging informatics market. Organic strategies primarily include product launches and product endorsements.
The inorganic growth strategies observed in the market are acquisitions, collaborations, and partnerships. These growth strategies have enabled players in the medical imaging informatics market to expand their businesses and improve their geographical presence, while contributing to the overall market growth.
Additionally, growth strategies such as acquisitions and partnerships have helped them build their customer base and expand their product portfolios. Some of the important developments by the major players in the medical imaging informatics market are listed below.
In March 2022, the Agfa-Gevaert Group announced that Spire Healthcare had chosen to equip a significant number of its 40 hospitals across the UK with Agfa direct radiography (DR) systems and solutions.
In August 2020, Carestream Health launched a new digital X-ray detector in the United States and Canada, enabling hospitals and imaging centers specializing in long-distance imaging to increase productivity while reducing discomfort and the patient’s dose.
In December 2021, Royal Philips announced that it had signed a 12-year strategic partnership with IJsselland Hospital (Capelle aan den Ijssel, the Netherlands).
Some of the major primary and secondary sources mentioned while preparing the Medical Imaging Informatics market report are World Health Organization (WHO), Centers for Disease Control and Prevention (CDC), the International Society of Radiology (ISR) and The International Society of Radiographers and Radiological Technologists (ISRRT).
Read the full report: https://www.reportlinker.com/p06279448/?utm_source=GNW
ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need – instantly, in one place.