Advanced visualization system is a medical instrument equipped with technically advanced software that displays numerous aspects of a living cell efficiently. This system decreases the turnaround time of clinicians for the result being reported to patient. Advanced visualization system bring revolutionary product in the market that is widely utilized in pathology laboratory. Advanced visualization systems are widely utilized in radiology, cardiology, neurology, nephrology and hematology.
The global market for advanced visualization systems can be segmented as:
- By Application
Radiology is considered as the most promising segment in the global market and accounted for the largest market share in advanced visualization systems application market. Radiology is widely utilized in the diagnosis and treatment of cancer. As the prevalence of cancer is increasing rapidly in the global population and thereby increasing the uptake of radiology. As an instance American Cancer Society (ACS) estimated that by 2030, the global cancer cases are expected to reach 21.4 million. Thus, rising incidences of cancer cases supports the growth of advanced visualization systems market.
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Likewise, cardiovascular diseases also significantly contributed in the global market growth of advance visualization systems. The prevalence of cardiovascular diseases such as coronary heart disease, ischemic heart disease, cardiac failure and arrhythmias is increasing rapidly. National Health Service (NHS) stated that cardiovascular disease is one of the leading cause of death in the U.K every year. Centers for Disease Control and Prevention (CDC) stated that about 600,000 people die of heart disease in the United States every year. Thus, rising number of people diagnosed with cardiovascular diseases propels the demand for advanced visualization systems market.
Technological advancement is primarily accounted for the global market growth of the advanced visualization systems. Advancement in computer software and hardware change the impact of advanced visualization tools in the global market. Moreover, developments in the area of AV technology (3D) and PACS module integration are also directly linked to the global market growth of advanced visualization systems.
A remarkable progression in the field of advanced visualization systems has been the move from a thick client to a thin client server and to cloud technique. Technical complexities associated with existing advanced visualization systems would restrict the global demand of advanced visualization systems. Moreover, high cost associated with the diagnosis procedure of advanced visualization systems would also account for the market hindrance during the study period.
North America and Europe are observed to be the largest advanced visualization systems market due to major market players based in these regions. Moreover, extensive technological advancement accentuates the advanced visualization system market in these regions. In addition, strong demand of technologically advanced pathology test is also a factor that would accentuate the advanced visualization systems market in North American and European regions. Asian and Latin American regions are fuelled by the presence of untapped opportunities due to extensive increase in the healthcare infrastructure. Asia-Pacific is considered as an emerging market due to growing market penetration in this region.
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The market for advanced visualization systems in Asia-Pacific region will grow at the highest CAGR during the study period owing to increased government spending on healthcare programs and strong economic growth. Moreover, increasing number of new diagnostic centers and hospitals with advanced imaging equipment will also drive the growth in Asia–Pacific Region.
Major market players contributing the market share of the global advanced visualization systems market include
- Fujifilm Holding America Corporation,
- Qi Imaging,
- Vital Images, Inc.,
- GE Healthcare,
- Siemens Healthcare,
- TeraRecon, Inc.