According to a recent Transparency Market Research (TMR) study, the global Advanced global advanced (3D/4D) Visualization Systems market is set to see an impressive CAGR (compound annual growth rate) of 6.4% in the forecast period of 2016 to 2024. That would generate opportunities in the market worth USD 3.2 bn.
A major propeller in the market is rise of people in the age group 56 and above. Worldwide, this number will be 1 in 6 people by 2050. It is a steep rise from 1 in 10 earlier. It is a move up to 2 billion people by 2050 from a 900 million in 2015. Hence, it does not come as a surprise that the CT segment will chart the highest growth. This along with an increase in focus healthcare and wellbeing will lead to growth in the market. This is primarily because it is factor behind increase in demand for quick, reliable and accurate imaging. Besides, improvement in technology in system software and hardware, integration of picture archives and communications is leading the way forward. There is also multimodality in terms of dedicated work stations, cloud computing, etc. All this is paving the way for a shift towards thin clients.
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Move to Sedentary Lifestyles to Drive Global Advanced (3D/4D) Visualization Systems Market Forward
Not only is the global advanced (3D/4D) Visualization systems market experiencing growth due to rising geriatric population, but also due to increase in lifestyle related disease. As more and more people live a hectic lifestyle – with longer hours at work and lesser hours amid nature and doing physical activity, the greater the rise of these lifestyle diseases. It is predicted that an increase in incidence of cardiac, neural, and other chronic conditions and diseases would be observed over the forecast period. And, this in turn, would lead to a higher adoption rate of advanced (3D/4D) visualization systems. The report, further states, that this growth would be facilitated by a steady rise in diagnostic centers around the world. Also, the growing sophistication of healthcare infrastructure will fuel the global advanced (3d/4d) visualization systems market further
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Competitive Landscape to be Focused around Technology
The global advanced global advanced (3D/4D) visualization systems market is slightly fragmented and competitive. As per a TMR analyst, the center of market players would be technological advancements. Investment in Research and Development will lead to product improvement/differentiation. Moreover, precise and accurate imaging is a major need in the medical landscape. Key players are Carestream Health, Inc., CONMED Corporation, Fujifilm Holding America Corporation, GE Healthcare, Intelerad Medical Systems Incorporated, Philips Healthcare, and QI Imaging. To keep an edge over competitors, players participate in exhibitions and expositions. Collaborations with government organizations in the related fields are also fairly common.
High Expenses to Restraint Advanced 3D/4D) Visualization Systems Market from Reaching Its Full Potential
As set-up and installation costs remain high, so do the costs of end-use, states the study report by TMR. This, in turn, discourages users from adopting it full throttle. Currently, countering this impact is rise in healthcare expenditure from governments in certain key regions. Besides, there is a large pool of underserved people that provide untapped opportunities, especially in the APAC region. With an increasing awareness towards health and rise in disposable income in this region, it provides potent opportunities for market players.
The information presented in this review is based on a TMR report, titled “Advanced (3D/4D) Visualization Systems Market (Platform – Ultrasound, MRI, CT, and PET; Application – Cardiology, Oncology, and Neurology; End User – Hospitals, Diagnostic Labs, and 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 presented below:
Global Advanced (3D/4D) Visualization Systems Market by Platform
Global Advanced (3D/4D) Visualization Systems Market by Application
Global Advanced (3D/4D) Visualization Systems Market by End User
- Diagnostic Labs
- Academics and Research
Global Advanced (3D/4D) Visualization Systems Market by Geography
- North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
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