Medical Imaging Informatics Market: Global Industry Analysis and Opportunity Assessment 2024

Medical imaging informatics (MII), a subspecialty of biomedical informatics, aims to provide accurate, useful, and efficient interpretations of complicated images into simpler, communicable, and in a useful manner within the health care IT sector for radiologists. Medical imaging informatics mainly comprises application, development, and assessment of information which are useful to treat patients effectively.

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Medical imaging informatics has become a predominant tool in picture archiving and communication system (PACS) and radiology information system (RIS) to deal with the current workload. Nowadays, medical imaging informatics is used in cardiology, dermatology, pathology, and surgery which have adopted the use of digital images. Furthermore, medical imaging informatics tele consultation has several advantages such as online consultation among doctors over medical records and knowledge sharing.

The medical imaging informatics market is segmented into application, end-user, and geography. On the basis of application, the medical imaging informatics market is further segmented into digital radiology, ultrasound, MRI, CT, nuclear imaging, and mammography. The digital radiology segment held a significant market share due to faster scanning, better image quality, and elimination of recurring cost associated with chemicals and films. However, the mammography segment is estimated to grow at a higher rate during the forecast period. On the basis of end-user, the market is segmented into hospitals, independent diagnostics centers, and ambulatory health care settings. Among these, the hospitals segment accounted for a major share of the market due to increase in hospital visits and hospitalizations, rise in government funding to screen various diseases, and growing research for diseases.

The medical imaging informatics market is growing globally due to rise in the number of diagnostic imaging procedures, high prevalence of chronic diseases, advanced application, and availability of cost effective medical informatics data storage platforms. However, lack of expertise to operate information technology integrated imaging modalities is likely to restrict the market growth.

Based on geography, the medical imaging informatics market is divided into North America, Europe, Asia Pacific, and rest of the world. North America and Europe acquired major share of the market and are expected to lead the medical imaging informatics market during the forecast period. Factors attributing to the growth of the market are higher demand for medical imaging informatics, growth in the rate of adoption in health care, technological advancements for easy accessibility, and others. In addition, well-established health care infrastructure in North America and Europe attributed to a larger share in this market. Although, these regions accounted for a higher share of this market, Asia Pacific is estimated to grow faster owing to rise in number of medical imaging procedures, high prevalence of chronic diseases, and increase in investments to improve the health care system, and growth in R&D. Recent advancements in the medical imaging informatics market have enabled clinicians (radiologists and other physicians) to effectively manage patients’ documented information.

Major players operating in the medical imaging informatics market include Agfa-Gevaert N.V., Carestream Health Inc., Dell Inc., Esaote SpA, General Electric Company, Koninklijke Philips N.V., McKesson Corporation, Siemens AG, and Toshiba Corporation.

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