Technological advancements in AV software such as integration of PACS & AV tools, improved diagnostic interpretation with AV tools, rising prevalence of target diseases, and growing demand for advanced diagnostic procedures.
Market Size
The global Advanced Visualization market size is projected to reach USD 3.19 Billion by 2021 from USD 1.89 Billion in 2016, growing at a CAGR of 11.0% from 2016 to 2021.
General Electric Company (U.S.), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Toshiba corporation (Japan), TeraRecon, Inc (U.S.), Pro Medicus Limited (Australia), Carestream Health, Inc (Onex Corporation) (Canada), Agfa HealthCare (Agfa-Gevaert N.V.) (Belgium), and Qi Imaging, LLC (NantWorks LLC) (U.S.), among others are some key players in this market. These companies are focusing on increasing their presence in the high-growth markets through both organic as well as inorganic growth strategies such as product launches, acquisitions, and expansions.
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“In 2015, General Electric Company (U.S.) held leadership position in the 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. To further strengthen its product portfolio and market presence, the company focuses on product launches, expansions, and collaborations as its key growth strategies. In addition, the company expanded its Healthcare IT Centre of Excellence in Szeged, Hungary, in June 2015 and introduced the GE Health Cloud, in November 2015.
“Vital Images, Inc. (acquired by Toshiba Corporation) held second leading position in the global advanced visualization market”
The company aims to maintain its dominant market position through product commercialization as well as by updating its existing products. In line with this strategy, the company has updated several advanced visualization products such as IntelliSpace Portal 8.0 (2015), Enterprise Imaging PACS, and Lumify.
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