The advanced visualization market across the globe is witnessing growth due to factors such as technological advancements in AV software such as integration of PACS & AV tools, improved diagnostic interpretation with AV tools, rising prevalence of target diseases, and growing demand for advanced diagnostic procedures.
On the basis of products and services, the advanced visualization market is classified into hardware & software and services. In 2016, the hardware and software segment is expected to account for the largest share of the market owing to factors such as the development of technologically advanced software, rising adoption of AV solutions in hospitals and imaging centers, and rising focus of healthcare organizations to streamline and increase workflow efficiency.
On the basis of type of solution, the market is segmented into enterprise-wide thin client-based solutions and stand-alone workstation-based solutions. In 2016, the enterprise-wide thin client-based solutions is expected to account for the largest share of the market due to offered benefits such as enhanced data storage capacity, data transfer capabilities, multi-user interface, streamlined analysis, and centralized post-processing solutions.
On the basis of imaging modality, the advanced visualization market is segmented into magnetic resonance imaging, computed tomography, positron emission tomography, ultrasound, radiotherapy, nuclear medicine, and other imaging modalities. In 2016, the magnetic resonance imaging segment is expected to command the largest share of the market due to the growing application of MRI in several clinical areas such as oncology, radiology, and cardiology is driving the number of MRI imaging procedures.
On the basis of clinical application, the market is segmented into radiology/interventional radiology, cardiology, orthopedics, oncology, vascular, neurology, and other clinical areas (obstetrics/gynaecology, urology, pulmonary, and gastroenterology).
On the basis of end user, the market is segmented into hospitals and surgical centers, imaging centers, academic and research centers, and other end users (pharmaceutical/biotechnology companies and CROs).
The Asia-Pacific region is expected to grow at the highest CARG during the forecast period. This growth can be attributed to the increasing geriatric population, high prevalence of various diseases requiring advanced diagnostic imaging, growing number of imaging centers in this region, increasing research activities, improving healthcare infrastructure, and growing government initiatives to boost adoption of advanced diagnostic imaging technologies in the region. The opportunities presented by the Asian market have drawn a number of companies to expand their presence in this region. For instance, in February 2016, Carestream Health (Onex Corporation) (U.S.) signed a strategic agreement with Alibaba Health (Hong Kong) to create a medical image management cloud platform in China. On the other hand, big players in the market are focusing on providing solutions tailored to the needs of specific end users. GE provides the GE Healthcare Centricity SE (small enterprise), a PACS tailored specifically to meet the demands of community hospitals and imaging centers.