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Global Advanced Visualization Market Size, Share, Trends, COVID-19 Impact & Growth Forecast Report – Segmented By Product & Services, Solution, Imaging Modality, Clinical Application, End-User & Region (North America, Europe, APAC, Latin America, Middle East and Africa) - Industry Analysis from 2022 to 2027

Published: January, 2022
ID: 2599
Pages: 175
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Advanced Visualization Market Size (2022 to 2027)

The global advanced visualization market is estimated to be worth USD 4.89 billion by 2027 from USD 2.89 billion in 2022, growing at a CAGR of 11.11% during the forecast period. The global advanced visualization market continues to gain momentum with the rapid increase in Visualization in science, education, medicine, and interactive multimedia. In addition, with the increase in target diseases, there is a wide range of markets in advance visualization.

A few of the key findings from the report:

  • Based on products and services, the hardware and software segments held a major share of the advanced visualization market in 2021.
  • Based on the solution, the enterprise segment dominated the market in 2021.
  • Based on imaging modality, the MRI led the market in 2021.
  • North America was the largest regional market in 2021 and worth USD 890 million in 2021.
  • The European market is predicted to reach USD 1.42 billion by 2027.
  • The Asia-Pacific region is estimated to grow at a CAGR of 13.13% from 2022 to 2027.

Advanced Visualization efficiently studies data collected through diagnostic imaging or systems in different medical configurations. Advanced visualization systems precisely analyze the images obtained from multiple image forms. It consists of a diagnostic image for real-time storing, sharing, transferring, or interpreting hardware and software configuration, monitoring, and human body elements. In the last few years, the market success of new, most excellent scanners has also hinged on the availability of wide-set clinical application modules and image analytics tools, such as quantification, computer-assisted diagnosis, and image fusion. The development of technologically advanced software, rising adoption of AV solutions in hospitals and imaging centers, and increasing focus of healthcare organizations to streamline and increase workflow efficiency in visualization.

MARKET DRIVERS:

The growth of the global advanced visualization market is majorly driven by the increase in the incidence of chronic diseases around the world.

The epidemic of chronic conditions, such as heart disease, cancer, stroke, and respiratory disease, increased due to the lack of access to prevention and treatment of lifestyle changes. The prevalence and mortality of various cancers increase with age. According to the Centers for Disease Control and Prevention (CDC), 6 in 10 Americans are living with at least 1 chronic disease. According to the American Cancer Society, approximately 1.9 million population diagnosed with cancer and 608570 people died from cancer in 2021 in the United States. It has been due to the burden of rapid cancer increase in the demand for oncology services. Government agencies and health providers must provide services for diagnosing and treating effective diseases. The older population needs a wide range of treatments, as they are susceptible to illnesses due to their low immune status and long recovery times. As it ages, bones are low-density and fragile due to their low mineral content. Changes in age, ligaments, and ligaments reduce joint flexibility and limit exercise.

The other key factors promoting the growth of the advanced visualization market are the technical developments in the AV software, such as integration of AV and PACS tools, Improved data storage capacity, multi-user interface, centralized post-processing solutions, streamlined analysis, and enhanced data transfer capabilities, increasing occurrence of target diseases and rising demand for advanced diagnostic procedures.

Advanced Visualization has enormous scope in the medical sector due to its excellent computer-assisted diagnosis procedures to surge growth opportunities for the advanced visualization market. Furthermore, the rise in the awareness to evaluate better treatment procedures following the proper diagnosis of diseases significantly promote market growth. Furthermore, the increasing number of targeted therapies globally is escalating the growth of the advanced visualization market. As a result, the market in emerging nations will witness a positive impact, providing significant growth potential during the forecast period that further enhances the market in the coming years.

MARKET RESTRAINTS:

However, high costs associated with the diagnostic procedures of advanced visualization systems are expected to hinder the market growth during the forecast period. In addition, other factors such as technical limitations with advanced visualization analysis, cost-effectiveness, and lack of skilled professionals are predicted to hamper the growth rate of the global advanced visualization market.

Impact of COVID-19 on the global advanced visualization market:

The advanced visualization market had a negative effect due to the COVID-19 period from Q2 2020. It completely shifted the course of surgical visualization and navigation technologies and resulted in a massive negative impact on adopting next-generation navigation and visualization devices. Furthermore, the outbreak of COVID-19 started at the end of 2019 and has affected all sectors of the economy.

There was a decline in hardware and software services due to the nationwide lockdown in multiple countries in 2020, and there was less demand for advanced visualization on chronic diseases. During the first quarter of 2020, none of the patients with chronic diseases and geriatric population visited the hospitals. Limited production innovations in the advanced visualization market as the surge in COVID-19 cases shifted its investments to COVID-19.

But the rest of 2020 has positively impacted the market growth of advanced visualization. The research and development activities on visualization systems have doubled as per the increased demand. In addition, there has been an increase in the adoption of advanced technologies for displaying numerous aspects of living cell efficiency. These systems are widely used in pathological laboratories for various clinical applications. Therefore, the market is estimated to register better growth during the forecast period.

REPORT COVERAGE:

REPORT METRIC

DETAILS

Market Size Available

2021 to 2027

Base Year

2021

Forecast Period

2022 to 2027

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, Drivers, Restraints, Opportunities, Challenges; PESTLE Analysis; Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities

Segments Analysed

By Product & Services, Solution, Imaging Modality, Clinical Application, End User, and Region

Regions Analysed

North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa

 

This research report on the global advanced visualization market has been segmented and sub-segmented based on product & services, solution, imaging modality, clinical application, end-user, and region.

Advanced Visualization Market – By Product and Services:

  • Hardware
  • Software
  • Services

The hardware and software segments are projected to account for the most significant proportion of the global advanced visualization market based on products and services during the forecast period. The introduction of technically sophisticated software has aided the segment's growth. Also, AV systems are more prevalent in hospitals and diagnostic centers to streamline and improve workflow efficiency and the ease with which they may be integrated into PACS.

Advanced Visualization Market – By Solution:

  • Standalone
  • Enterprise

Based on the solution, the enterprise-based solution segment is expected to lead the global advanced visualization market during the forecast period. The growing number of diagnostic facilities equipped with cutting-edge technology is projected to accelerate market growth. Also, data storage capacity, data transmission capabilities, a multi-user interface, simplified analysis, and centralized post-processing solutions have all been improved. Furthermore, the market's growth is fuelled by the increased prevalence of various health conditions. In addition, the increasing use of effective imaging methods in diagnostic centers is boosting the market.

Advanced Visualization Market – By Imaging Modality:

  • Magnetic Resonance Imaging (MRI)
  • Computed Tomography (CT)
  • Positron Emission Tomography (PET)
  • Ultrasound
  • Radiotherapy (RT)
  • Nuclear Medicine
  • Others (PET and SPECT)

The MRI segment is anticipated to record a significant share in the global advanced visualization market based on imaging modality. Growing applications of MRI in various hospital segments such as cardiology, oncology, and radiology are fuelling market growth.

Advanced Visualization Market – By Clinical Application:

  • Radiology
  • Orthopedics
  • Cardiac
  • Neurology
  • Oncology
  • Vascular
  • Neurology
  • Other Diseases

Based on the application, the radiology segment is projected to account for the largest share of the advanced visualization market. The segment growth is attributed to the increasing adoption of centralized-based AV software, growing adoption of AV solutions in radiology, and growing market presence for process automation and digitalization of radiology diagnostics.

Advanced Visualization Market – By End-user:

  • Hospitals and Surgical centers
  • Imaging Centres
  • Academic and Research Centres
  • Others

Based on the end-user, the hospitals and imaging centers segments are expected to account for the most prominent share during the forecast period. The segment growth is expected to be driven by the increasing prevalence of chronic disorders and technological advancements in advanced visualization technology & software.

Advanced Visualization Market – By Region:

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Geographically, the North American advanced visualization market is expected to be the most promising region globally during the forecast period due to the rise in capital income in developed and developing countries. The market growth in the region is further attributed to the proliferation of chronic diseases such as cancer and diabetes, technological advancements, and the availability of the advanced healthcare sector. In addition, larger economies such as the U.S. and Canada significantly contribute to the North American regional market growth. The U.S. market dominated the North American market in 2021. The advanced healthcare infrastructure, increasing healthcare spending, and favorable reimbursement policies fuel market growth. On the other hand, the Canadian market is anticipated to record a promising share and contribute to the North American market growth. 

Similarly, the European advanced visualization market accounted for the second-largest share of the global visualization market in 2020 and is expected to account for a significant share during the forecast period. The growing focus of hospitals on providing value-based healthcare services, the presence of better healthcare providers, and infrastructure facilities are boosting the market growth. As a result, the significant growth contributors in the region are Germany, the UK, Italy, and France. However, Germany is projected to grow at approximately 7.7% CAGR during the forecast period due to the growing capital income and preference for minimally invasive procedures fuelling the market growth. 

On the other hand, APAC advanced visualization market is one of the fastest-growing regions worldwide. The market growth is driven by improving healthcare, supportive government policies, and increasing healthcare expenditure. The market players in the region are China, Japan, and India.  China is the world’s second-largest economy; the Advanced visualization market is projected to reach a market size of US$831.9 Million by 2027, registering a CAGR of 9% during the forecast period. The Indian advanced visualization market is anticipated to witness a promising share in the APAC market during the forecast period. The increasing chronic disease prevalence, improved healthcare infrastructure, and supportive government policies encourage market growth. 

Furthermore, the Latin American advanced visualization market is projected to showcase a considerable share in the global advanced visualization market due to emerging countries such as Brazil and Mexico. 

The Middle East and Africa advanced visualization market will have a moderate growth rate in the years.

KEY MARKET PARTICIPANTS:

Some of the promising companies leading the global advanced visualization market profiled in this report are General Electric Company (U.S.), Canon Inc., Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Toshiba Corporation (Japan), Terarecon, Inc. (U.S.), Carestream Health, Inc. (U.S.), Pro Medicus Limited (Australia), Ziosoft (Japan), Agfa-Geveart N.V. (Belgium) and Qi Imaging, LLC (U.S.).

RECENT MARKET DEVELOPMENTS:

  • In January 2016, Synapse 5, a PACS system that combines 3-D, vendor-neutral archive (VNA), radiological information system (RIS), cardiovascular, and mobile capabilities, was given FDA 510 (k) approval by Fujifilm Medical Systems U.S.A. Inc. 
  • Phillips Healthcare announced Lumify, a smart device ultrasound solution that enables portable diagnostic testing, in November 2015. The device connects to PACS, shared networks, and system directories through cloud-enabled technologies.

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FAQ's

How much was the global advanced visualization market worth in 2021?

The global advanced visualization market was valued at USD 2.6 billion in 2021.

Which segment by clinical application dominated the advanced visualization market in 2021?

Based on the application, the radiology segment accounted for the major share of the market in 2021.

Which country accounted for major share in the global advanced visualization market?

The U.S. occupied the leading share in the global advanced visualization market in 2021.

Who are the top players in the advanced visualization market?

AGFA-Gevaert N.V., Canon Medical Systems, Fujifilm Holdings Corporation, GE Healthcare and Koninklijke Philips N.V. are some of the promising companies operating in the advanced visualization market.

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