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HEALTHCARE & PHARMACEUTICAL

Advanced (3D/4D) Visualization Systems Market Segmentation by Device Function (Magnetic Resonance Imaging, Ultrasound, Radiotherapy, Computed Tomography, Position Emission Tomography, Nuclear Medicine, and Others); by Application (Radiology, Oncology, Cardiology, Orthopedics, Neurology, and Others); and by End User (Hospitals, Imaging Centers, Research Centers, and Others) – Global Demand Analysis & Opportunity Outlook 2031

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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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IN THE NEWS

  • November 2021- General Electric announced the introduction of Proficy 2022, which features major enhancements across the entire product portfolio as well as new software additions.

  • April 2021- Philips declared that its SmartCT 3D image acquisition, visualization and measurement software for its Azurion Image Guided Therapy System received 510(k) clearance from the U.S. Food and Drug Administration (FDA).

Global Advanced (3D/4D) Visualization Systems Market Highlights Over 2022 - 2031

The global advanced (3D/4D) visualization systems market is estimated to garner a large amount of revenue by growing at a CAGR of ~4% over the forecast period, i.e., 2022 – 2031. The growth of the market can be attributed primarily to the increasing demand for advanced visualization techniques for precise diagnostics and effective cure of diseases. Along with this, with the growing integration of cloud computing in picture archiving and communication systems, security and data transferability of patient’s vital information is predicted to rise significantly. This in turn is expected to be a crucial factor driving market growth in the forthcoming years. Furthermore, escalating number of patients worldwide, and rapidly rising geriatric population, as they are more susceptible to diseases, are projected to offer abundant growth opportunities to the market in the near future. According to a report by the United Nations organization, there 703 million people aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion in 2050.

Advanced (3D/4D) Visualization Systems Market Graph

The market is segmented by application into radiology, oncology, cardiology, orthopedics, neurology, and others, out of which, the radiology segment is anticipated to hold the largest share in the global advanced (3D/4D) visualization systems market. This can be accounted to the fact that visualization has improved the efficiency of radiologists by streamlining workflow processes. Apart from this, 3D and 4D imaging also helps in making accurate diagnosis, which in turn is also evaluated to boost the market segment growth in the years to come. Additionally, on the basis of end user, the hospitals segment is assessed to acquire the largest share during the forecast period owing to the allocation of high budget to procure high-end visualization tools by hospital management globally. CLICK TO DOWNLOAD SAMPLE REPORT 

Major Macro-Economic Indicators Impacting the Market Growth

Healthcare Expenditure per Capita Graph

According to the statistics by the World Health Organization, the global per capita healthcare expenditure amounted to USD 1,064.741 in the year 2017. The worldwide healthcare expenditure per person grew from USD 864.313 in 2008 to USD 1,110.841 in 2018, where the U.S. is the top country that amounted to healthcare expenditure of USD 10, 623.85 per capita in 2018. As of 2018, the domestic general government healthcare spending in the U.S. was USD 5355.79, which grew from USD 3515.82 in 2008. These are some of the factors responsible for market growth over the past few years. Moreover, as per the projections by the Centers for Medicare & Medicaid Services (CMS), the estimated average annual percent change related to National Health Expenditures (NHE) in the U.S. was 5.2% in 2020 as compared to 2019 (4.5%). Furthermore, the National Health Expenditures are projected to reach USD 6,192.5 Billion in 2028, where the per capita expenditure is estimated to touch USD 17,611 in the same year. These are notable indicators that are anticipated to create lucrative business opportunities in upcoming years.

Global Advanced (3D/4D) Visualization Systems Market Regional Synopsis

Regionally, the global advanced (3D/4D) visualization systems market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. The market in Asia Pacific is estimated to witness noteworthy growth over the forecast period on the back of the rising government initiatives to offer better medical infrastructure facilities in the region. In addition, growing investments in the healthcare sector by companies, especially in India, Malaysia and China, is also expected to accelerate the market growth in the region in the coming years. Moreover, the market in North America is projected to acquire the largest share over the forecast period ascribing to the high healthcare expenditure, and strong presence of major market players in the region. As per the Centers for Medicare & Medicaid Services (CMS), the healthcare spending in the U.S. reached USD 1.4 trillion or USD 12,530 per person. As a share of the nation's Gross Domestic Product, health spending accounted for 19.7 percent.

Advanced (3D/4D) Visualization Systems Market Share Image

The global advanced (3D/4D) visualization systems market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC (Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook

Market Segmentation

Our in-depth analysis of the global advanced (3D/4D) visualization systems market includes the following segments:

By Device Function

  • Magnetic Resonance Imaging
  • Ultrasound
  • Radiotherapy
  • Computed Tomography
  • Position Emission Tomography
  • Nuclear Medicine
  • Others

By Application

  • Radiology
  • Oncology
  • Cardiology
  • Orthopedics
  • Neurology
  • Others

By End User

  • Hospitals
  • Imaging Centers
  • Research Centers
  • Others

Growth Drivers

  • Increasing Demand for Advanced Visualization Techniques for Precise Diagnostics
  • Growing Integration of Cloud Computing in Picture Archiving and Communication Systems

Challenges

  • Emergence of 5D in Visualization Systems Sphere

Top Featured Companies Dominating the Market

  • Fujifilm Holding America Corporation
    • Company Overview
    • Business Strategy
    • Key Product Offerings
    • Financial Performance
    • Key Performance Indicators
    • Risk Analysis
    • Recent Development
    • Regional Presence
    • SWOT Analysis 
  • Siemens AG
  • General Electric Company
  • Carestream Health, Inc.
  • Vital Images Inc.
  • Visualization Sciences Group
  • Visage Imaging Inc.
  • Koninklijke Philips N.V.
  • TeraRecon Inc.
  • Qi Imaging, LLC

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