Description
North America advanced visualization (AV) market
Advanced visualization (AV) systems are medical instruments, equipped with advanced software that display the numerous aspects of living cells efficiently. They are new-generation data visualization platforms that help end users to view data in depth by providing enhanced image quality. These help specialists by providing a better understanding of various clinical issues, thus, leading to faster and higher quality healthcare. It is widely utilized in most pathological laboratories as well. They also help in targeted drug therapy, ultimately reducing the cost of the procedure. The North American AV market is expected to reach USD Bn by 2023 with a compound annual growth rate (CAGR) of 11.60% during 2018-2023.
The market is divided into three primary segments based on the product type, solution and imaging modality.
Based on the product type, the market is segmented into hardware and software and services.
Based on solution, the market is divided into enterprise-wide thin client-based solution and standalone workstation-based solution.
Based on imaging modality, the market is classified into magnetic resonance imaging (MRI), positron emission tomography (PET), computer tomography (CT), ultrasound and x-ray.
On the basis of countries, the market is segmented into the US and Canada.
Key growth factors
Technological advancements in AV software is a major driving force in the US. This includes the development and integration of picture archiving and communication system (PACS) and AV solution, hybrid imaging and image fusion technology and big data analytics which automates how data will be displayed to the end users and others. In the U.S., the geriatric population grew for more than 15% of the total population of the country and would be more than double by 2060. Older population implies higher need for healthcare treatment and would give a boost to this market. In December 2017, Conemaugh Memorial Medical Center invested in a new PET/CT technology which is beneficial for the patients as it provides high-quality images with half the radiation required and in half the time. High demand for PET in North America is owing to the rising incidence of cancer and higher technological advancements.
Threats and key players
The growth of the market is hindered by a few challenges. Even with the help of the government, the cost of completely upgrading the already existing systems into the AV systems is very high. Due to various financial constraints faced by hospitals, it would take a lot of time before they can completely convert into AV. With the involvement of information technology (IT) in AV, a lot of data will be generated, which would include private information about the patients. Thus, data security will become a major challenge in the long run. In the US, healthcare industry itself amounted to 43% of all major data breaches in 2013.
The key competitors in the North America AV market are Toshiba Corporation, Ziosoft, Koninklijke Philips N.V., Afga-Gevaert, Conmed and others.
What??s covered in the report?
1. Overview of the North American AV learning market.
2. Market drivers and challenges of the North American AV market.
3. Market trends in the North American AV market.
4. Historical, current and forecasted market size data for the segment based on the product type – hardware and software and services.
5. Historical, current and forecasted market size data for the segment based on solution – enterprise-wide thin client-based solution and standalone workstation-based solution.
6. Historical, current and forecasted market size data for the segment based on imaging modality – magnetic resonance imaging
