The medical image management system is a software platform that can handle all types of medical images in a healthcare organization. Some of the benefits of a modern medical image management system are image capture, storage, retrieval, and distribution and it also includes tools for image analysis and processing.
Growing Prominence of Medical Image Management Systems in the Diagnostic Sector
Medical image management system plays an important role in diagnostic imaging. One of the major benefits the system provides is an integration of medical image data with patient’s electronic health records and other healthcare systems thereby giving a full view of patient health. Some of the key technologies used in these systems are Picture Archiving and Communication System (PACS), Vendor Neutral Archives (VNA), and Application-independent Clinical Archives (AICA). The integration of PACS/VNA with EHR and rising demand for cloud-based solutions are creating ample opportunities for key players operating in the medical image management market across the globe.
- In March 2023, Carestream Health unveiled its expanded Imaging Portfolio at ECR 2023 which will improve image capture, data processing, clinical outcomes and enhance patient care.
- In April 2022, Sectra entered into an agreement with North York General Hospital (NYGC) Canada. The collaboration will allow NYGC to utilize Sectra’s different imaging modalities like VNA and will enhance radiology reading efficiency and patient care.
Medical Image Management Systems: Future of Integrated Diagnostic Healthcare Systems
The growing prevalence of chronic diseases, the increasing geriatric population, the rising number of imaging procedures, the demand for efficient and accurate diagnostic imaging, and the global adoption of EHR are the key drivers of the medical image management market. Rapidly increasing healthcare data, technological advancements in imaging modalities, and the need for integrating healthcare systems are other factors fueling its growth in the global medical image management market.
- In April 2023, Intelerad showcased its enhanced Enterprise Imaging and Informatics Suiteat HIMSS 2023 which featured the largest medical image exchange network. The suite breaks down siloed data and creates a seamless, vendor-neutral information hub, integrating vital patient data across the entire healthcare ecosystem. By adding the image exchange solution into the suite, health systems can securely send and receive patient data across geographies, promoting collaboration and simplifying patient access.
- In March 2023, Intelerad partnered with Augnito to integrate its Insight PACS reporting with Augnito Voice Services TM equipping its client with accessible and advanced speech recognition technology that simplifies patient care.
Key Constraints/ Challenges: Medical Image Management Market
The higher costs of implementation, integration issues with other healthcare systems, and ensuring patient data privacy are some of the constraints that are likely to hamper the growth of the medical image management system market.
North America Expected to Continue to Hold a Major Share in the Medical Image Management Market
Geographically, North America holds a larger market share in the medical image management market. This can be mainly attributed due to the technological advancements in the diagnostic sector, advanced healthcare systems & infrastructure, and the presence of key players in the region.
However, the Asia-Pacific is expected to witness a strong growth in the upcoming years in the global medical image management market, due to the increasing geriatric population, large volume of patients, rising prevalence of various diseases, and rapid developments of diagnostic centers in the region.
Competitive Landscape Analysis: Medical Image Management Market
Some of the key and established players operating in the global medical image management market are listed below:-
- BridgeHead Software
- Carestream Health Inc.
- Fujifilm Holdings Corporation
- GE Healthcare
- Merge Healthcare Inc.
- Novarad Corporation
- Philips Healthcare
- Siemens Healthineers
- McKesson Corporation
Organic and Inorganic Growth Strategies Adopted by the Market Players to Establish Their Foothold in the Medical Image Management Market
Leading players operating in the global medical image management market are adopting organic and inorganic growth strategies such as upgrading with new technology, launching new products, collaborations, and acquisitions to garner a higher market share in the global market.
- In April 2023, Philips joined forces with AWS to bring Philips HealthSuite Imaging PACS to the cloud. The collaboration will provide enhanced AI-enabled tools, and diagnostic capabilities to achieve efficient workflow in clinics.
- In April 2022, Philips and Prisma Health entered into a multi-year agreement to achieve enterprise interoperability, standardize patient monitoring, and further advance innovations in imaging solutions to enhance patient care and improve clinical performance.
The global medical image management market is a promising and growing market and is expected to gain further momentum in the upcoming years due to rising geriatric population, growing demand for medical imaging equipment, increasing adoption of EHRs, rising investment in R&D & constant new product launches by key players, and aggressive organic and inorganic growth strategies followed by the leading market players.
Key Strategic Questions Addressed in this Research Report are listed below:-
- What is the market size & forecast for the medical image management market?
- What are the historical, present, and forecasted market shares and growth rates of various segments and sub-segments of the medical image management market?
- How has Covid-19 impacted the medical image management market?
- What are the major growth drivers, restraints/challenges impacting the medical image management market?
- What are the opportunities prevailing in the medical image management market?
- What is the investment landscape of medical image management market?
- Which region has the highest share in the global market? Which region is expected to witness the highest growth rate in the next 5 years?
- Who are the major players operating in the medical image management market? What is the competitive positioning of key players?
- Who are the new players entering the medical image management market?
- What are the key strategies adopted by players in the global medical image management market?
1. Research Methodology
1.1. Secondary Research
1.2. Primary Research
1.3. Market Estimation
1.4. Market Forecasting
2. Executive Summary
3. Market Overview
3.1. Market Dynamics
3.2. Industry Speaks
4. Growing Prominence of Medical Image Management Systems in the Diagnostic Sector
5. Global Medical Image Management Market - Size & Forecast (2019-2027), By System
5.1. Picture Archiving and Communication System (PACS)
5.2. Vendor Neutral Archive (VNA)
5.3. Other Systems
6. Global Medical Image Management Market - Size & Forecast (2019-2027), By End User
6.2. Diagnostic Centers
6.3. Ambulatory Surgical Centers
6.4. Other End Users
7. Global Medical Image Management Market - Size & Forecast (2019-2027), By Region
7.1. North America (U.S. & Canada)
7.2. Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
7.3. Asia Pacific (China, India, Japan, Rest of Asia Pacific)
7.4. Rest of the World (Latin America, Middle East & Africa)
8. Competitive Landscape
8.1. Key Players and their Competitive Positioning
8.1.1. Competitive Positioning of Key Players (2022)
8.1.2. Offering Assessment, By Players
8.2. Key Strategies Assessment, By Player (2021-2023)
8.2.1. New Product & Service Launches
8.2.2. Partnerships, Agreements, & Collaborations
8.2.3. Mergers & Acquisitions
8.2.4. Geographic Expansion
9. Key Companies Scanned (Indicative List)
9.1. BridgeHead Software
9.2. Carestream Health Inc.
9.3. Fujifilm Holdings Corporation
9.4. GE Healthcare
9.5. Novarad Corporation
9.6. Philips Healthcare
9.7. Siemens Healthineers
9.8. McKesson Corporation
9.9. Hyland Software
9.10. INFINITT Healthcare
9.11. BridgeHead Software
9.13. Change Healthcare
9.14. Sectra AB
9.15. Other Key Players
The study has been compiled based on extensive primary and secondary research.
Secondary Research (Indicative List)
To validate research findings (market size & forecasts, market segmentation, market dynamics, competitive landscape, key industry trends, etc.), extensive primary interviews were conducted with both supply and demand side stakeholders.
Supply Side Stakeholders:
- Senior Management Level: CEOs, Presidents, Vice-Presidents, Directors, Chief Technology Officers, Chief Commercial Officers
- Mid-Management Level: Product Managers, Sales Managers, Brand Managers, R&D Managers, Business Development Managers, Consultants
Demand Side Stakeholders:
- Stakeholders in Hospitals, Ambulatory Surgery Centers, Diagnostic Centers, and Other End Users.
Breakdown of Primary Interviews
Market Size Estimation
Both ‘Top-Down and Bottom-Up Approaches’ were used to derive market size estimates and forecasts.
Research findings derived through secondary sources & internal analysis were validated with Primary Interviews, Internal Knowledge Repository, and Company Sales Data.