Medical imaging informatics (MII), a subspecialty of biomedical informatics, aims to provide accurate, useful, and efficient interpretations of complicated images into simpler, communicable, and in a useful manner within the health care IT sector for radiologists. Medical imaging informatics mainly comprises application, development, and assessment of information which are useful to treat patients effectively.
Medical imaging informatics has become a predominant tool in picture archiving and communication system (PACS) and radiology information system (RIS) to deal with the current workload. Nowadays, medical imaging informatics is used in cardiology, dermatology, pathology, and surgery which have adopted the use of digital images. Furthermore, medical imaging informatics tele consultation has several advantages such as online consultation among doctors over medical records and knowledge sharing.
The medical imaging informatics market is segmented into application, end-user, and geography. On the basis of application, the medical imaging informatics market is further segmented into digital radiology, ultrasound, MRI, CT, nuclear imaging, and mammography. The digital radiology segment held a significant market share due to faster scanning, better image quality, and elimination of recurring cost associated with chemicals and films. However, the mammography segment is estimated to grow at a higher rate during the forecast period. On the basis of end-user, the market is segmented into hospitals, independent diagnostics centers, and ambulatory health care settings. Among these, the hospitals segment accounted for a major share of the market due to increase in hospital visits and hospitalizations, rise in government funding to screen various diseases, and growing research for diseases.
The medical imaging informatics market is growing globally due to rise in the number of diagnostic imaging procedures, high prevalence of chronic diseases, advanced application, and availability of cost effective medical informatics data storage platforms. However, lack of expertise to operate information technology integrated imaging modalities is likely to restrict the market growth.
Based on geography, the medical imaging informatics market is divided into North America, Europe, Asia Pacific, and rest of the world. North America and Europe acquired major share of the market and are expected to lead the medical imaging informatics market during the forecast period. Factors attributing to the growth of the market are higher demand for medical imaging informatics, growth in the rate of adoption in health care, technological advancements for easy accessibility, and others. In addition, well-established health care infrastructure in North America and Europe attributed to a larger share in this market. Although, these regions accounted for a higher share of this market, Asia Pacific is estimated to grow faster owing to rise in number of medical imaging procedures, high prevalence of chronic diseases, and increase in investments to improve the health care system, and growth in R&D. Recent advancements in the medical imaging informatics market have enabled clinicians (radiologists and other physicians) to effectively manage patients’ documented information.
Major players operating in the medical imaging informatics market include Agfa-Gevaert N.V., Carestream Health Inc., Dell Inc., Esaote SpA, General Electric Company, Koninklijke Philips N.V., McKesson Corporation, Siemens AG, and Toshiba Corporation.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.