Albany, NY -- (SBWIRE) -- 11/09/2017 -- With a large pool of leading players, such as, Varian Medical Systems, Mindray Medical, Hitachi, Toshiba, Fujifilm, Siemens Healthcare, Philips, Neusoft Medical Systems, Hologic, GE Healthcare, and Esaote, the global market for medical imaging information systems observes a competitive and a fragmented business landscape, finds a research report by Transparency Market Research (TMR).
These players are concentrating on product innovations and upgradation for the proliferation of their businesses, which is likely to boost this market substantially in the years to come. The focus of these players will also shift towards strategic partnerships and alliances to strengthen their presence in the global market, notes the research study.
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The global market for medical imaging information systems is expected to witness tremendous growth in the years to come. According to the TMR's estimations, the opportunity in this market is likely to soar to US$772.4 mn by 2017. The rising streak of this market will continue further with it expanding significantly at a CAGR of 5.20% over the period from 2017 to 2022 and reaching US$993.6 mn by the end of the end of the forecast period. Currently, computed tomography has emerged as the most preferred modality among consumers and the trend is expected to continue in the near future.
North America, the Middle East and Africa, Europe, Asia Pacific excluding Japan, Latin America, and Japan have surfaced as the main regional markets for medical imaging information systems across the world. North America, among these, has been leading the global market over the last few years and is projected to maintain its lead in the near future.
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The regional market, expanding at a CAGER of 5.50% over the forecast period is expected to benefits from the presence of a state-of-art medical and health care infrastructure and adequate number of skilled professionals, states the market report.
"The global market for medical imaging information systems is gaining significant impetus from the rising need for effective management of medical imagery and associated information and data," says the author of this study. The increasing awareness among consumers regarding the efficiency of medical imaging information systems to track the billing information and orders of radiology imaging is expected to further fuel the uptake of these systems across the world in the years to come.
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The augmenting application of these systems in billing, record-keeping, and managing image archives together with vendor neutral archive (VNAs) and PACS is also projected to boost this market considerably over the next few years.
On the other hand, the market is likely to face hindrances in the near future due to the lack of skilled medical and healthcare professionals, especially in emerging economies. However, the continual technological advances in information systems is anticipated to propel this market noticeably in the coming years, states the research report.
The review is based on a report by Transparency Market Research (TMR), titled "Medical Imaging Information System Market (Modality - Computed Tomography, Magnetic Resonance Imaging, Positron Emission Tomography, Ultrasound, X-RAY, and Mammography; End User - Hospitals, Diagnostic Imaging Centers, and Ambulatory Surgical Centers (ASCs); Software Type - PACS System Management, Radiology Information Systems, and Integrated Software Solutions) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2017 - 2022."