The global advanced (3D/4D) visualization systems technology enables a medical practitioner to share, store, and transfer the diagnostic images in 3D/4D format, along with the facility to view the images in real-time to observe the changes in the body, frame by frame. Owing to these properties the global advanced visualization system market to witness a significant growth in the coming years, states Transparency Market Research (TMR) in a research report. The market scenario of advanced visualization systems is highly disintegrated owing to the emergence of various small, regional, and international vendors that includes international firms holding the major amount of market shares. The technological advancement is anticipated to boost the competition in the market. The merchants in the advanced 3D/4D visualization market compete on the basis of product differentiation, pricing, funds provided, technological updates, investments, on-site and online service, merger with training centers and governmental bodies, and participating in medical trade fairs and expositions. GE Healthcare, Philips Healthcare, Olympus, Toshiba Medical Systems, and Siemens Heathineers are some of the leading players in the market. The other well-known firms are CONMED Corporation, Fujifilm Holding America Corporation, Carestream Health, Inc. As per the research by American Cancer Society, estimates the number of cancer patients worldwide to reach 21.4 million by the end of forecast period, 2030.
According to a TMR analyst, the global advanced (3D/4D) visualization system market is likely to witness a noticeable growth at a moderate CAGR of 6.4% from 2016 to 2024. The market in 2015 was evaluated to be worth US$1.8 bn, which is expected to surge worth US$3.2 bn by the end of year 2024. Almost around 19% of the regional population is anticipated to fall under older section of the society, approximately above 65 years of age, as per the studies and data by the U.S. Census Bureau. The U.S. Food and Drug Administration (FDA) have made the storage of patient data and digitization compulsory since December 2015. Based on geographical segmentation, North America is anticipated to be dominant with major number of shares evaluated in 2015 in the global advanced (3D/4D) visualization systems market.
Investment by Private and Government Bodies to Churn the Market Demand
Owing to technological innovations and advancements, the global market of advanced (3D/4D) visualization systems is likely to foresee a significant growth in coming times. Features such as dedicated work stations, upgrade in system hardware and software, integration of picture archiving and communication system, cloud-computing, shift towards thin clients from thick clients, and multi-modality serves a lucrative opportunities for the manufacturers to invest in the market. Accurate and precise imaging is the need of an hour, because of increase in number of patients suffering from various diseases, along with the rise in geriatric population. This also plays a major role in fueling the demand for advanced (3D/4D) visualization systems. Several private firms, research centers and government organizations have been investing in this market lately that also increases the funding to experiment further to upgrade the technology more.
Excessive Set-up and Maintenance Cost Likely to Hamper the Market Growth
In several parts of global there are a large number of under-served people suffering from diseases, increasing focus on research and development in healthcare industry, and considerable growth in the development of healthcare infrastructure. This are some more factors boosting the growth of advanced (3D/4D) visualization systems in the global market. However, high maintenance cost and set-up cost are a few of the reason that are likely to contribute in the decline of the market growth. Nevertheless, in some regions there is a significant surge in the health expenditure which is also helping in the growth of advanced (3D/4D) visualization systems market.
The study presented here is based on a report by Transparency Market Research (TMR), titled, “Advanced (3D/4D) Visualization Systems Market (Platform - Ultrasound, MRI, CT, PET; Application - Cardiology, Oncology, Neurology; End-user - Hospitals, Diagnostic Labs, Academics and Research) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024”
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
- Diagnostic Labs
- Academics and Research
Advanced (3D/4D) Visualization Systems Market, by Geography
- North America
- Rest of Europe
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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