[182 Pages Report] The global advanced visualization market is expected to reach USD 3.19 billion by 2021 from USD 1.89 billion in 2016, at a CAGR of 11.0%.

By product, the hardware & software segment is expected account for the largest share

Based on product, the global advanced visualization market is segmented into hardware & software and services (further sub-segmented into implementation, post-sales and maintenance, consulting/optimization, and training & education services). In 2017, the hardware & software segment is expected to account for the largest share of the market owing to factors such as development of technologically advanced software, rising adoption of AV solutions in hospitals and diagnostic centres to streamline and increase workflow efficiency, and growing adoption of AV solutions due ease of integrating them into PACS.

By type of solution, the enterprise-wide client-based and standalone workstation-based solutions segment is expected account for the largest share

Based on type of solution, the global advanced visualization market is divided into s enterprise-wide client-based and standalone workstation-based solutions. The enterprise-wide client-based and standalone workstation-based solutions segment is expected to account for the largest share of the market in 2016. The large share of this segment can be attributed to factors such as due to offered benefits such as enhanced data storage capacity, data transfer capabilities, multi-user interface, streamlined analysis, and centralized post-processing solutions.

By imaging modality, the magnetic resonance imaging segment is expected account for the largest share

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. The magnetic resonance imaging segment is expected to dominate the advanced visualization market during the forecast period. This can primarily be attributed to the growing application of MRI in several clinical areas such as oncology, radiology, and cardiology.

By clinical application, the hospitals, diagnostic centres, and surgical centres segment is expected account for the largest share

The advanced visualization market, by clinical application, is segmented into radiology/interventional radiology, cardiology, orthopaedics, oncology, vascular, neurology, other clinical areas (includes obstetrics/gynaecology, urology, pulmonary, and gastroenterology). In 2016, the radiology/interventional radiology segment is expected to account for the largest share of the market due to the growing adoption of centralized server-based AV software, rising market preference for process automation & digitization of radiology diagnostics, and increasing adoption of AV solutions in radiology departments.

North America is expected to account for the largest share of the advanced visualization market during the forecast period

The report covers the advanced visualization market across four key geographies, namely, North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is expected to dominate the global advanced visualization market in 2016. Commercialization of advanced diagnostic products, robust R&D infrastructure across the U.S. & Canada, and high prevalence of target diseases are the factors that drive the demand growth of advanced visualization products in the region. The Asia Pacific region is expected to grow at the highest CAGR due to the rapid expansion of healthcare infrastructure in the region, increasing public awareness related to benefits of advanced diagnostic techniques in effective disease management, and rising market penetration of advanced diagnostic technologies.

Market Dynamics

Growth in the advanced visualization market can be attributed to factors such as technological advancements in the field of AV software, integration of AV software into PACS, improved diagnostic interpretation with AV tools, and development of novel AV solutions.

Driver- Advancements in AV software such as integration of PACs & AV tools

Product innovations in the AV market are mainly focused on the development of more cost-efficient technologically advanced and user-friendly software compared to the conventional ones. Advanced AV solutions simplify working with 2D, 3D, and 4D images obtained from various imaging modalities. These solutions are equipped with powerful and advanced communication features, cloud data handling (such as storage, post-processing, computing, and remote access); they also provide easy-to-use/automated workflow solutions to clinicians. Key vendors in the AV market are increasingly focusing on technological advancements and the launch of new AV software.

From January 2012 to May 2016, the top 10 market players launched ~12 new AV systems in the global market. Such technological enhancements are stimulating the global demand for AV solutions.

In September 2016, Vital Images Inc. collaborated with Nuance Communications Inc. for the integration of its PowerScribe 360 Reporting (a speech recognition technology for radiology) and PenRad Technologies, Inc. for its PenLung Lung Screening Management system (solution for radiology and imaging facilities to manage low-dose computed tomograph lung screening) into Vital�s Lung Screening solution.

In November 2015, Vital Images, Inc. launched the CT Lung Screening Program solution, a radiology tool and workflow system for the standardization of lung nodules diagnosis and treatment plans.

A picture archiving and communication system (PACS) is a medical imaging technology for communicating diagnostic outcomes across healthcare systems. It is increasingly being integrated with other healthcare enterprise systems [such as image-enabled electronic health records (EHRs)/electronic medical records (EMRs), and health information systems (HIS)] to provide improved patient care. Most PACS vendors are now integrating AV solutions into their systems to provide advanced post-processing solutions for specialized applications. The AV functionality is integrated or embedded into PACS through a partnership between the PACS vendor and an AVIS (advanced visualization independent software) vendor. The integration enables healthcare providers to provide cost-effective solutions and streamline workflow efficiency of healthcare organizations. It also enables radiology departments to maximize their investments in PACS workstations and helps avoid delays such as relaunching or losing data as images are moved on machines. Thus, the integration of AV technology into PACS is expected to further stimulate the demand for AV software in the coming years. Some recent developments in this regard are listed below.

In January 2016, Fujifilm Medical Systems U.S.A. Inc. received the FDA 510 (k) clearance for the marketing of Synapse 5, a PACS system that includes 3-D, vendor-neutral archive (VNA), radiology information system (RIS), cardiovascular, and mobile offerings.

In November 2015, Philips Healthcare launched Lumify, a smart device ultrasound solution which allows portable diagnostic testing, connection with PACS, shared networks, and system directories through cloud-enabled technology.

In September 2015, Philips received the FDA 510 (k) clearance for marketing of its Spectral Diagnostic Suite (SpDS), a set of advanced visualization and analysis tools that supports PACS.

Restraint- Limited availability of reimbursements for radiology-based diagnostic procedures

In 2006, the Centers for Medicare & Medicaid Services (CMS) announced an approximately 12 fold reduction on radiology remunerations. In line with the cost-containment and reduction strategies of the ACA, the agency proposed a rule in July 2014 which explains additional drops in the reimbursement for radiology practices.

Reimbursement changes for the technical part of imaging procedures (such as MRI and CT scans) is the most critical radiology billing problem. Several departments such as radiology, interventional radiology, and radiation oncology witnessed payment changes since 2015. The CMS provided updates about the changes in the reimbursement rates for specific Medicare services. Moreover, there was a decrease in the payment rate for many kinds of imaging procedures for radiologists, and this may impact finances in radiology departments. Thus, reimbursement cuts for radiology may hamper the demand for advanced visualization software as radiology accounts for a major share of ~54% in 2015.

Scope of the Report:

Report Metric Details Market Size Available for Years 2014�2021 Base Year Considered 2015 Forecast Period 2016�2021 Forecast Units Value (USD) Segments Covered Products & service, Type of solution, Imaging Modality, Clinical application, End User, and Region Geographies Covered North America (US & Canada), Europe (Germany, France, UK, Spain, Italy and RoE), APAC (China, Japan, India, South Korea, Australia and RoAPAC), and Latin America, and the Middle East & Africa Companies Covered General Electric Company (US), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), and Terarecon, Inc. (US), Fujifilm Holdings Ltd. (Japan), Agfa HealthCare NV (Belgium), Carestream Health, Inc. (US), Qi Imaging (US), and Visage Imaging, Inc. (US). Major 15 players covered.

This report categorizes the global advanced visualization market into the following segments and subsegments:

Global Advanced visualization market, by Products & Service

Hardware & Software

Services Implementation Services Post-Sale and Maintenance Services Consulting/Optimization Services Training and Education Services



Global Advanced visualization market, by Type of Solution

Enterprise-Wide Thin Client-Based Solutions

Standalone Workstation-Based Solutions

Global Advanced visualization market, by Application

Magnetic Resonance Imaging (MRI)

Computed Tomography (CT)

Positron Emission Tomography (PET)

Ultrasound

Radiotherapy (RT)

Nuclear Medicine

Other Imaging Modalities

Global Advanced visualization market, by Clinical Application

Radiology/Interventional Radiology

Cardiology

Orthopedics

Oncology

Vascular

Neurology

Other Clinical Applications

Global Advanced visualization market, by End User

Hospitals, and Surgical Centers

Imaging Centers

Academic and Research Centers

Other End Users

Global Advanced visualization market, by Region

North America US Canada

Europe Germany UK France Italy Spain Rest of Europe

Asia Pacific China Japan India South Korea Australia Rest of Asia Pacific

Latin America Brazil Mexico Rest of Latin America

Middle East & Africa

Key Market Players

Some of the prominent players in the advanced visualization market includes General Electric Company (US), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Toshiba Corporation (Japan), and Terarecon, Inc. (US). Other players include Fujifilm Holdings Ltd. (Japan), Agfa HealthCare NV (Belgium), Carestream Health, Inc. (US), Qi Imaging (US), and Visage Imaging, Inc. (US).

GE Healthcare (U.K.) held the leading position in the global advanced visualization market. The company has a strong portfolio of advanced visualization products and advanced visualization enterprise-based solutions for cardiology, neurology, oncology, vascular, and interventional. The company has a strong geographic presence in more than 175 countries across the globe, with key markets in the North America, Europe, Asia, Australia, and South America. It primarily focuses on product developments and product launches to strengthen its market position. The GE Health Cloud is among the major advancements in advanced visualization technology. GE also provided USD 7 million Series A financing to Arterys (U.S.) for the development of cloud-enabled technology for advanced visualization. The market has witnessed acquisitions by GE Healthcare in the last three years, such as the acquisition of Finnamore (U.K), a health and social care consultancy firm, aimed to gain consultancy business (2014). Furthermore, the company aims on developing technologically advanced visualization solutions with zero footprints.

Recent Developments

In 2016, TeraRecon, Inc. launched Enterprise Imaging 8.1 and iNtuition

In 2016, Vital Images, Inc. launched the application neutral architecture (ANA) platform

In 2016, Vital Images Inc. entered into a partnership with Nuance Communications Inc. (U.S.) for the integration of Nuance�s PowerScribe 360 Reporting solution with Vital�s Vitrea CT lung Analysis application

In 2015, GE Healthcare entered into a partnership with U.S.-based Arterys Inc. (provider of cloud based platform for medical imaging) to launch a transformative cardiac medical imaging platform

In 2014, Vital Images, Inc. expansion of its AV business operations by accelerating the adoption of its Vitrea enterprise solution in Europe, the Middle East, and Africa (EMEA).

Key Questions Addressed by the Report:

What are the growth opportunities related to the adoption of advanced visualization market across major regions in the future?

Emerging countries have immense opportunities for the growth and adoption of advanced visualization. Will this scenario continue in the next five years?

Where will all the advancements in products offered by various companies take the industry in the mid- to long-term?

What are the new trends and advancements in the advanced visualization market?

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