Advanced Visualization Market size is estimated to be $2.5 billion in 2019, growing at a CAGR of 10.2% during the forecast period 2020-2025. Growing geriatric population, rapid urbanization, changing lifestyle, wrong eating habits, obesity, increase in the prevalence of chronic disease coupled with advanced visualization tools in disease diagnosis is a major factor driving the advanced visualization market during the forecast period 2020-2025. Furthermore, advanced visualization tools is anticipated to become a larger part of healthcare IT infrastructure over the coming years as organizations seek better ways to view collected data by big data analytics solutions. Factors driving the advanced visualization market in healthcare include technological advancements in advanced visualization software. This consist of integration of picture archiving and communication system (PACS) and advanced visualization tools, improved diagnostic interpretation with advanced visualization tools rising prevalence of target disease and growing demand for advanced diagnostic features. Moreover, according to the National Heart, Lung and Blood Institute Atherosclerotic Risk in Communities (ARIC) study and Cardiovascular Health Study(CHS) there are 1,260,000 new and recurrent coronary attacks per year- about 37% people experience coronary attack in a given year die from it. Furthermore, the use of PAC system in hospital is also contributing to its market growth.
By Application – Segment Analysis
By Application the advanced visualization market is segmented into oncology, orthopedics, cardiovascular, neurology and others. Among these the oncology segment is projected to be the fastest growing with a CAGR of 9.61% during the forecast period 2020-2025. This is owing to the increasing number of cancer patients and their willingness to adopt different types of radiotherapy, medicines for treatments. Moreover, GE Healthcare provides Advantage 4D for efficient and accurate visualization and assessment of respiratory induced motion fast with fast 4D image reconstruction. In addition Advantage 4D is a retrospective gating is a CT application that analyzes and characterizes respiration-induced motion of the anatomy. Furthermore, it provides information on the true shape of the anatomical objects in motion, reduces structural distortion and identifies the dynamic range of motion to help make radiotherapy planning assessment more precise.
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By End-Use- Segment Analysis
Hospitals accounted for the largest market share in 2019 owing to the increasing number of cardiovascular patients around the world. Furthermore, trained doctors in the hospitals usually perform MRI, Cardiac MRI, CT and others thereby hospital are a major place for treatment. Furthermore, technological advancement leading to rapid diagnostic test which are faster, more reliable, and more widely available are further driving the advanced visualization market during the forecast period 2020-2025. Moreover, the growth of this segment is majorly owing to the increasing number of test in diagnostic centers and hospitals.
Geography- Segment Analysis
North America dominated the Advanced Visualization Market with a region share 39% in 2019. Rising geriatric population along with the increase in cardiovascular diseases, increasing health concerns along with the growing demand of advanced treatment and a better healthcare structure is a major factor driving its market growth. Furthermore, the presence of large number of clinics and ease of availability of technology advanced instruments in that region is further driving its market growth. Moreover, according to the Centers for Disease Control and Prevention about 647,000 Americans die from heart disease each year-that is 1 in every-4 deaths.
Drivers – Advanced Visualization Market
Increasing incidence of chronic diseases
Increasing incidence of chronic diseases leading to diabetes and other cardiovascular diseases is a major driving the Advanced Visualization Market during the forecast period 2020-2025.Futhermore, the growing diabetes patients and their willingness to adapt different types of treatment is driving the demand of Advanced Visualization Market during the forecast period 2020-2025. Moreover, according to the World Health Organization about 422 million people worldwide have diabetes particularly in low and middle-income countries and 1.6 million deaths are directly attributed to diabetes each year.
Technological Advancement of Advanced Visualization In Healthcare
Technological Advancements of Advanced Visualization in Healthcare is a major factor driving Advanced Visualization Market during the forecast period 2020-2025. Moreover it can give single dashboard for a patient’s entire history. Furthermore, at the core of data visualization it is a process that streamlines an immense of data and condenses it into one or two convenient forms on one dashboard thereby increasing its demand in healthcare.
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Challenges – Advanced Visualization Market
Lack of Skilled Professional
Lack of skilled professional to perform advanced visualization is a significant factor restraining the advanced visualization market during the forecast period 2020-2025.Thereby lack of professional to perform advanced visualization in healthcare is a major setback for the growth of advanced visualization market growth.
Advanced Visualization Market Industry Outlook
Product Launches, Merger & Acquisition, joint ventures and R&D activities are key strategies adopted by the players in Advanced Visualization Market. Advanced Visualization Market top 10 companies are General Electric Company, Canon Inc., Siemens AG, Qi Imaging LLC, Pro Medicus Limited, Terarecon Inc., Carestream Health Inc., AGFA Gevaert N.V., Visage Imaging Inc. and Agfa Healthcare.
September 2018: Siemens acquired Lightwork design to deliver advanced 3D Data Visualization.
The oncology segment accounted for a substantial market growth in 2019 owing to the increasing number of cancer patients and their willingness to adopt different types of treatments.
Hospitals accounted for the largest market share in 2019 owing to the increasing number of cardiovascular patients around the world.
In 2019, North America dominated the Advanced Visualization Market owing to the rising geriatric population along with the increase in the angina pectoris, increasing health concerns along with the growing demand of advanced treatment and a better healthcare structure is a major factor driving its market growth.
Technological Advancements in Advanced Visualization in healthcare is a major factor driving Advanced Visualization Market during the forecast period 2020-2025.
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