Global Advanced Visualization Market 2023-2030

Global Advanced Visualization Market 2023-2030

Global Advanced Visualization Market Size, Share & Trends Analysis Report by Product and Service (Hardware, Software, and Services), by Solution Type (Enterprise and Standalone), by Imaging Modality (Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Ultrasound, Nuclear Medicine, and Other Imaging Modalities), and by Clinical Application (Oncology, Orthopedics, Cardiovascular, Neurology, and Other Clinical Applications (Dental)), Forecast Period (2023-2030)

Global advanced visualization market is anticipated to grow at a significant CAGR of 11.0% during the forecast period. The increasing prevalence of chronic diseases coupled with the growing geriatric population and rising awareness of the benefits associated with advanced visualization tools in disease diagnosis are the key factors driving the growth of the global advanced visualization market. Additionally, the advancements in advanced visualization tools are further contributing to the global market growth. For instance, in October 2022, Align Technology, Inc. introduced iTero-exocad Connector, which integrates iTero intraoral camera and NIRI images within exocad DentalCAD 3.1 Rijeka software. This new integration optimizes design and fabrication of highly esthetic restorations by providing the ability for dental professionals to visualize the internal and external structure of teeth. However, the lack of medical reimbursements for radiology-based diagnostic procedures is restraining the market growth.

Segmental Outlook

The global advanced visualization market is segmented based on product and services, solution type, imaging modality, and clinical application. Based on products and services, the market is segmented into hardware, software, and services. Based on solution type, the market is segmented into enterprise and standalone. Based on imaging modality, the market is segmented into Magnetic Resonance Imaging (MRI), Computed Tomography (CT), ultrasound, nuclear medicine, and other imaging modalities. Based on clinical application, the market is segmented into oncology, orthopedics, cardiovascular, neurology, and other clinical applications (dental).

Oncology Segment Held Considerable Share in Global Advanced visualization Market

Imagining is crucial in cancer detection and for the effective delivery of radiation treatment in oncology departments. Hence, advanced visualization technology enables physicians to diagnose cancers in the earliest stage possible. The growing prevalence of different cancers along with rising technological advancements in advanced visualization tools has driven the adoption of advanced visualization tools in healthcare facilities, which in turn driving the growth of this market segment.

According to estimates from the International Agency for Research on Cancer (IARC) updates from July 2021, by 2040, the global burden of cancers is expected to grow to 27.5 million new cancer cases and 16.3 million mortality globally. Such high burdens will increase the demand for advance visualization as it would provide significant benefits in identifying the trend related to the prevalence and treatment of cancer.

Regional Outlook

The global advanced visualization market is further segmented based on geography, including North America (the US and Canada), Europe (Italy, Spain, Germany, France, and others), Asia-Pacific (India, China, Japan, South Korea, and others), and the Rest of the World (the Middle East & Africa and Latin America). Asia-Pacific is anticipated to exhibit the highest growth in the global market. The regional market is driven by the presence of a huge patient pool, technical advancement in healthcare facilities, along with the growing adoption of advanced software and services in hospitals.

In July 2023, Tera Recon, a ConcertAI company has announced the expansion of its reseller and service agreement in Australia with Change Healthcare, a healthcare IT provider that delivers innovative solutions to help improve the healthcare journey and serves more than 3,500 diagnostic imaging providers internationally. Under the expanded agreement, Change Healthcare will serve as the sole distributor in Australia for Intuition, TeraRecon's vendor-agnostic, gold standard, advanced visualization solution. Such developments are further contributing to the regional market growth.

North America Held Considerable Share in the Global Advanced Visualization Market

The regional market is driven by the high adoption of advanced software and services in healthcare settings to offer quality healthcare. The presence of key market players that are adopting different growth strategies is further driving the regional market growth. For instance, in November 2022, Ziosoft has introduced revoras platform for its flagship Ziostation system in Chicago. The Revoras platform (work in progress) offers numerous productivity enhancements and new visualization technology including the unique Ziosoft Rembrandt image rendering capability. In addition to the Rembrandt viewing capability, the Revoras platform provides complex protocol workflows, which are made simpler using accelerated automation for faster processing and reduced training burdens. Revoras harnesses the power of AI within the platform to optimize the reproducible results, helping to enable life-changing therapies faster.

Market Players Outlook

The major companies serving the global advanced visualization market include Fujifilm Holdings Corp., Koninklijke Philips N.V., Agfa-Gevaert Group, Canon Inc. (Canon Medical Systems Corp.), General Electric Company (GE Healthcare) among others. The market players are considerably contributing to the market growth by the adoption of various strategies, including mergers and acquisitions, partnerships, collaborations, funding, and new product launches, to stay competitive in the market. For instance, in July 2023, Mirada Medical, the US based advanced visualization software provider has expanded its embedded partnership program to include RamSoft, developer of the world's first Imaging EMR, OmegaAI. The partnership with Mirada signifies the incorporation of RamSoft customers to the thousands of global healthcare professionals who currently utilize multimodality and image registration tools geared to provide users with an incomparable user experience and access to more imaging data via an advanced intuitive interface.

The Report Covers

Market value data analysis of 2022 and forecast to 2030.

Annualized market revenues ($ million) for each market segment.

Country-wise analysis of major geographical regions.

Key companies operating in the global advanced visualization market. Based on the availability of data, information related to new product launches, and relevant news is also available in the report.

Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.

Analysis of market-entry and market expansion strategies.

Competitive strategies by identifying ‘who-stands-where’ in the market.