Medical Image Exchange System Market
Medical Image Exchange System Market Study by Services and Software for Hospitals, Clinical Research Laboratories, Laboratories, Diagnostic Centers, and Educational Institutes from 2024 to 2034
Analysis of Medical Image Exchange System Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Medical Image Exchange System Market Outlook (2024 to 2034)
The global medical image exchange system market size is estimated at US$ 3.91 billion in 2024 and is projected to climb to a value of US$ 9.89 billion by the end of 2034. Worldwide sales of medical image exchange systems are forecasted to increase at 9.7% CAGR from 2024 to 2034.
As the name suggests, medical image exchange systems simply allow and facilitate the exchange of medical images for different purposes such as diagnosis and remote consultation. Wide adoption of advanced medical imaging technology in the diagnosis of chronic diseases and the growing need for healthcare professionals to share the same across different healthcare establishments is primarily driving the sales of medical image exchange systems.
Growing number of hospitalizations, increasing healthcare expenditure, increasing adoption of novel medical imaging systems, rising demand for patient-centric care, expanding use of automation in the medical industry, and continual modernization of healthcare equipment are other prospects that could boost medical image exchange system sales in the future.
Increasing penetration of cloud-based technologies in the healthcare space is also predicted to provide a multitude of new opportunities for medical image exchange system providers in the long run. The implementation of 5G technology is projected to complement the adoption of cloud-based healthcare solutions and services through 2034.
Heavy investments in medical research and growing demand for analysis of medical images in clinical studies and educational institutes are also key medical image exchange system market trends that companies can benefit from.
- Sales of medical image exchange systems in educational institutes are predicted to increase at 8.4% CAGR over the next 10 years.
| Report Attributes | Details |
|---|---|
| Medical Image Exchange System Market Size (2024E) | US$ 3.91 Billion |
| Projected Market Value (2034F) | US$ 9.89 Billion |
| Global Market Growth Rate (2024 to 2034) | 9.7% CAGR |
| North America Market Value (2024E) | US$ 1.11 Billion |
| Demand Growth in Mexico (2024 to 2034) | 12.5% CAGR |
| Medical Image Exchange System Software Segment Value (2034F) | US$ 2.4 Billion |
| Key Companies Profiled |
|
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How are Start-ups Expected to Revolutionize Medical Image Exchange?
“Focus on Incorporating AI, 5G, and Deep Learning into Medical Imaging Systems”
New medical image exchange system manufacturers can leverage the use of advanced technologies such as 5G, artificial intelligence, machine learning, and deep learning to create innovative products that stand out from the competition. New medical image exchange system companies should focus on raising new capital to fund their business expansion, R&D, and innovation efforts. Rising use of AI in diagnostic imaging is also a key trend that aspiring medical image exchange device suppliers should keep an eye out for.
- In March 2022, PocketHealth, a new company focused on medical image sharing founded in 2016, announced that it had raised US$ 16 million in a Series A funding round to expand its presence in the United States. The capital raise was led by Questa Capital, and the company had plans to cement more partnerships in the United States and increase its staff count as well.
Start-ups can gain a detailed understanding of factors such as local supply, pricing trends, product standards, safety regulations, and new developments in this medical image exchange system market research analysis by skilled analysts at Fact.MR, a market research and competitive intelligence provider.
Which Region Holds Sway Over Global Medical Image Exchange Device Sales?
“East Asia Generating High Revenue Streams Due to Rising Investments in Healthcare Infrastructure”
| Attribute | East Asia |
|---|---|
| Market Value (2024E) | US$ 1.42 Billion |
| Growth Rate (2024 to 2034) | 10.3% CAGR |
| Projected Value (2034F) | US$ 3.8 Billion |
Increasing investments in healthcare infrastructure development and growing digitization of the healthcare industry in East Asian countries are projected to open up new avenues of opportunities for medical image exchange system companies going forward. Rising use of advanced medical imaging technologies in countries such as Japan, China, and South Korea are also estimated to bolster medical image exchange system market growth in East Asia in the future.
- Sales of medical image exchange systems in China are forecasted to increase at an impressive 10.4% CAGR from 2024 to 2034.
Heavy investments in medical R&D and the increasing adoption of advanced digital workflows in the healthcare space are also projected to contribute to the increasing medical image exchange system market size in East Asia through 2034. Presence of a substantial senescent population in Japan is projected to bolster the sales of medical image exchange systems in the country over the next ten years and beyond.
- Medical image exchange equipment demand in Japan is set to reach a market valuation of US$ 332.7 million in 2024.
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Country-wise Insights
Medical image exchange system suppliers can improve their global market share by investing in countries such as Germany, France, India, the United States, and Canada over the coming years.
Why Should Medical Image Exchange System Companies Target India?
“Increasing Patient Load and Government Initiatives Promoting Digitalization in Healthcare”
Increasing patient load on the healthcare infrastructure of India has resulted in significant investments in the development of advanced medical infrastructure. Efforts from the government of the country as well as private entities are driving digitization in the healthcare industry of India thereby creating a high demand for medical image exchange systems as well. Growing use of advanced medical technologies such as computed tomography, MRI, and X-ray is also projected to uplift demand for medical image exchange services in the country through 2034.
What Makes the United States a Highly Lucrative Market?
“Extensive Adoption of Advanced Digital Healthcare Technologies”
| Attribute | United States |
|---|---|
| Market Value (2024E) | US$ 813.5 Million |
| Growth Rate (2024 to 2034) | 9.2% CAGR |
| Projected Value (2034F) | US$ 1.95 Billion |
The United States is known for its developed healthcare infrastructure, which has been quick to adopt advanced medical technologies, thereby creating an opportunistic setting for medical image exchange equipment distributors. An increasing number of diagnostic imaging centers in the country and a growing number of healthcare establishments investing in the acquisition of advanced medical technologies are also projected to boost medical image exchange system market growth over the coming years. Moreover, the presence of key medical image exchange system companies in the country is also projected to favor market growth.
Category-wise Insights
Medical image exchange system providers are making the most of their money by offering their services to hospitals around the world.
Which Type of Medical Image Exchange System is in High Demand?
“Medical Image Exchange Services Account for Widespread Adoption”
| Attribute | Services |
|---|---|
| Segment Value (2024E) | US$ 2.98 Billion |
| Growth Rate (2024 to 2034) | 8.8% CAGR |
| Projected Value (2034F) | US$ 7.49 Billion |
Medical establishments that cannot afford to invest in getting a medical image exchange system for themselves often opt for medical image exchange services instead to comply with their budgetary constraints. Moreover, the growing adoption of medical image exchange systems is also projected to uplift the demand for maintenance and support services in the long run, thereby allowing the services segment to hold a prominent chunk of the global medical image exchange system market share through 2034.
Which End-use Industry Accounts for Extensive Use of Medical Image Exchange Systems?
“Hospitals Account for Sizable Market Share Due to Heavy Healthcare Investments”
| Attribute | Hospitals |
|---|---|
| Segment Value (2024E) | US$ 888.1 Million |
| Growth Rate (2024 to 2034) | 9.9% CAGR |
| Projected Value (2034F) | US$ 2.18 Billion |
Growing use of medical imaging systems in hospitals for diagnosis and treatment of different diseases is predicted to augment medical image exchange system sales over the coming years. Increasing healthcare expenditure in developing countries and rising number of hospitalizations on a global scale are also projected to offer moneymaking opportunities for medical image exchange system companies in the long run. Increasing demand for remote diagnosis and teleconsultation services in hospitals is also estimated to favor sales of medical image exchange systems going forward.
Know thy Competitors
Competitive landscape highlights only certain players
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Competitive Landscape
Leading medical image exchange system vendors are focusing on acquisitions and mergers to expand their business scope and enlarge their imaging databases to improve access and functionality of their products and services.
- In September 2022, Intelerad Medical Systems, a leading name in the enterprise imaging solutions space, announced the acquisition of a world-renowned image exchange network for medical and clinical imaging data called Life Image. This acquisition took Intelerad one step closer to its goal of making the world’s leading interoperable medical image exchange platform.
Key Segments of Medical Image Exchange System Market Research
-
By Solution :
- Software
- Cloud-based/Web-based
- Physical Media
- Services
- Professional Services
- Consulting Services
- Support & Maintenance
- Image Sharing Services
- Managed Services
- Professional Services
- Software
-
By End User :
- Hospitals
- Clinical Research Laboratories
- Laboratories
- Diagnostic Centers
- Educational Institutes
- Others
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By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
- FAQs -
What is the size of the medical image exchange system market?
The global medical image exchange system market is estimated at US$ 3.91 billion in 2024.
What is the demand projection for medical image exchange systems?
Demand for medical image exchange systems is forecasted to reach a market value of US$ 9.89 billion by 2034-end.
What is the projected growth rate for the global market?
The market for medical image exchange equipment is projected to advance at 9.7% CAGR over the next 10 years.
Which region leads demand for medical image exchange systems?
Demand for medical image exchange systems in East Asia is set to rise at an impressive 10.3% CAGR from 2024 to 2034.
What is the demand projection for medical image exchange systems in the United States?
The market in the United States is predicted to reach US$ 1.95 billion by the end of 2034.
Who are the leading medical image exchange system suppliers?
Nuance Communications Inc., IBM Corporation, PaxeraHealth, GE Healthcare, Sectra AB, IMEXHS, Vaultara, and Koninklijke Philips N.V. are key companies.
Medical Image Exchange System Market
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