Albany – New York, Sept. 12, 2016 (GLOBE NEWSWIRE) —
According to a new market report published by Transparency Market Research “Advanced (3D/4D) Visualization Systems Market (Platform: Ultrasound, MRI, CT, PET, and Others; Application: Cardiology, Oncology, Neurology, and Others; End-user: Hospitals, Diagnostic Labs, and Academics & Research) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2016–2024”, the global advanced (3D/4D) visualization systems market was valued at US$ 1.8 Bn in 2015 and is projected to expand at a CAGR of 6.4% from 2016 to 2024 to reach US$ 3.2 Bn in 2024.
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Advanced (3D/4D) visualization systems are imaging systems equipped with innovative and advanced software and applications that allow clinicians to provide timely and accurate diagnosis, thus providing superior quality of patient care. The global advanced visualization systems market is expected to witness strong growth in the near future due to the ever-increasing diseases burden, growing patient awareness, rising global geriatric population, and demand for more reliable and accurate diagnosis while dealing with patients various medical conditions. Moreover, advancements in the technological aspects of applied computer science and need for patient data to provide better care at reduced costs has provided momentum to the market.
The quick adoption of cloud technology across the world has benefitted the overall advanced visualization systems market. Servers placed at remote locations allow image processing to be done easily without much effort at the client location. This has led to reduced pricing of the advanced visualization systems and easy workflow thereof. Emerging economies in regions such as Asia-Pacific offer large opportunity in the advanced visualization systems market. According to TMR report, Asia-Pacific is likely to be the most attractive market for advanced visualization systems in the near future.
This report provides market size and forecast for global advanced (3D/4D) visualization systems market based on type of platform, application, end-user, and geography. The major geographies analyzed in the report include North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. North America was the largest market for advanced visualization systems in 2015 and is likely to witness considerable growth during the forecast period from 2016 to 2024. The advanced visualization market in the U.S. is driven by the country’s strong economy and the trend of acquiring standalone companies by large manufacturers of capital imaging equipment. Other factors attributable to market growth include increasing patient awareness, FDA regulations for patient data management, technological innovations, high investments in research and development, and the increasing geriatric population.
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The advanced (3D/4D) visualization systems market is also witnessing strong growth in Europe due to advantages such as accurate diagnosis with minimally invasive technology and ease in data sharing. Asia-Pacific is expected to be the most promising market for AVS technology in the near future due to developing economies and presence of large under-served patient population. Latin America also offers immense growth potential in the near future due to extensive development of health care infrastructures, increasing population, and rising government funding. However, high costs for set-up and maintenance can be a major restraint of the market in regions such as Middle East & Africa. The report also provides major insights into the market size and trends for major countries such as the U.S., Canada, the U.K., Germany, China, Japan, Brazil, Mexico, and South Africa.
The global market is moving toward consolidation, wherein the key standalone vendors are being acquired by the existing modality manufacturers who can then offer bundled packages to suit the needs of the clients. Some of the companies operating in this market include Carestream Health, Inc., CONMED Corporation, Fujifilm Holding America Corporation, GE Healthcare, Intelerad Medical Systems Incorporated, Philips Healthcare, Qi Imaging, LLC, Siemens Healthcare, Terarecon, Inc., Toshiba Medical Systems Corporation, Visage Imaging, and Visualization Sciences Group.
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The global advanced (3D/4D) visualization systems market has been segmented as follows:
Advanced (3D/4D) Visualization Systems Market, by Platform
Advanced (3D/4D) Visualization Systems Market, by Application
Advanced (3D/4D) Visualization Systems Market, by End-user
Advanced (3D/4D) Visualization Systems Market, by Geography
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR’s global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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