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Advanced Visualization Market Size (2024 - 2029)

The advanced visualization market is projected to experience significant growth, driven by the increasing prevalence of chronic diseases and a rising geriatric population. The market's expansion is further supported by the growing awareness of the benefits of advanced visualization tools in disease diagnosis. The COVID-19 pandemic initially boosted demand due to the effectiveness of chest CT scans in identifying infections, although the market is expected to stabilize as pandemic-related cases decline. Despite these positive trends, the market's growth may be hindered by the limited availability of reimbursements for radiology-based diagnostic procedures.

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Market Size of Advanced Visualization Industry

Advanced Visualization Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
CAGR 11.30 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Advanced Visualization Market Major Players

*Disclaimer: Major Players sorted in no particular order

Advanced Visualization Market Analysis

The advanced visualization market is expected to register a CAGR of 11.3% over the forecast period. The COVID-19 pandemic had a significant impact on the market. During the pandemic, chest computed tomography (CT) scans were regarded as one of the most effective non-invasive methods for identifying COVID infections.

  • As per the report published by the Polish Journal of Radiology in January 2022, COVID-19 pneumonia and pneumonia without COVID-19 have different chest computed tomography (CT) characteristics. Hence, it was a commonly used tool for the diagnosis of the novel coronavirus disease (COVID-19). Thus, the demand for advanced visualization was high and expected to impact the market significantly. Currently, the cases of COVID-19 are relatively less, and it is expected to have stable growth in the studied market due to COVID-19.
  • The major factors for the growth of the market include 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. According to the report published by Dementia Australia Ltd in 2022, an estimated 487,500 Australians are living with dementia, and it is expected to increase to almost 1.1 million by 2058. Dementia is more common as people grow older. The growing geriatric population worldwide is anticipated to increase the market since an aged population is more susceptible to dementia. Hence, chronic diseases like dementia can be diagnosed with radiology, where advanced visualization plays a major role and is expected to drive the market.
  • According to the WHO, by 2050, the world's population of people aged 60 years and older will double to 2.1 billion. The rise in the geriatric population will increase the patient pool suffering from various chronic diseases, and advanced visualization tools are expected to increase the correct diagnosis rate among patients. Hence, the market is expected to witness high growth.
  • However, the limited availability of reimbursements for radiology-based diagnostic procedures may restrain the market.

Advanced Visualization Industry Segmentation

As per the scope of the report, advanced visualization is a new-generation data visualization platform that helps end users view data in depth and provides enhanced image quality. It helps the specialists with a better understanding of clinical issues, thus leading to high-quality healthcare facilities. The advanced visualization market is segmented by product and service (hardware, software, and services), type of solution (enterprise and standalone), imaging modality (magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, nuclear medicine, and other imaging modalities), clinical application (oncology, orthopedics, cardiovascular, neurology, and other clinical applications) and geography (North America, Europe, Asia-Pacific, Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 different countries across major regions globally. The report offers the value (in USD million) for the above segments.

By Product and Service
Hardware
Software
Services
By Type of Solution
Enterprise
Standalone
By Imaging Modality
Magnetic Resonance Imaging (MRI)
Computed Tomography (CT)
Ultrasound
Nuclear Medicine
Other Imaging Modalities
By Clinical Application
Oncology
Orthopedics
Cardiovascular
Neurology
Other Clinical Applications
Geography
North America
United States
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle East and Africa
GCC
South Africa
Rest of Middle East and Africa
South America
Brazil
Argentina
Rest of South America
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Advanced Visualization Market Size Summary

The advanced visualization market is poised for significant growth, driven by the increasing prevalence of chronic diseases and a rising geriatric population. The market's expansion is further supported by the growing awareness of the benefits of advanced visualization tools in disease diagnosis. The COVID-19 pandemic initially boosted demand for these technologies, particularly in the use of chest computed tomography scans for diagnosing the virus. Although the pandemic's impact has stabilized, the market continues to benefit from the ongoing need for accurate diagnostic imaging, especially as the global population ages and the incidence of conditions like dementia rises. However, the market faces challenges due to limited reimbursement options for radiology-based diagnostic procedures.

Technological advancements and the adoption of advanced visualization tools in healthcare facilities are key factors propelling market growth. The rising prevalence of various cancers necessitates sophisticated imaging solutions for early detection and effective treatment delivery. North America is expected to dominate the market, supported by a robust healthcare infrastructure and a significant number of chronic disease cases. The region's growing geriatric population further fuels demand for advanced diagnostic imaging. Major market players are actively launching new products and technologies, enhancing the market's growth prospects. Despite being moderately consolidated, the market features prominent companies like Agfa-Gevaert Group, Canon Inc., Fujifilm Holdings Corporation, and Siemens Healthcare GmbH, which continue to innovate and expand their offerings.

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Advanced Visualization Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Increasing Prevalence of Chronic Diseases Coupled With Growing Geriatric Population

      2. 1.2.2 Rising Awareness of Benefits associated with Advanced Visualization Tools in Disease Diagnosis

    3. 1.3 Market Restraints

      1. 1.3.1 Limited Availability of Reimbursements for Radiology-Based Diagnostic Procedures

    4. 1.4 Porter's Five Force Analysis

      1. 1.4.1 Threat of New Entrants

      2. 1.4.2 Bargaining Power of Buyers/Consumers

      3. 1.4.3 Bargaining Power of Suppliers

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD million)

    1. 2.1 By Product and Service

      1. 2.1.1 Hardware

      2. 2.1.2 Software

      3. 2.1.3 Services

    2. 2.2 By Type of Solution

      1. 2.2.1 Enterprise

      2. 2.2.2 Standalone

    3. 2.3 By Imaging Modality

      1. 2.3.1 Magnetic Resonance Imaging (MRI)

      2. 2.3.2 Computed Tomography (CT)

      3. 2.3.3 Ultrasound

      4. 2.3.4 Nuclear Medicine

      5. 2.3.5 Other Imaging Modalities

    4. 2.4 By Clinical Application

      1. 2.4.1 Oncology

      2. 2.4.2 Orthopedics

      3. 2.4.3 Cardiovascular

      4. 2.4.4 Neurology

      5. 2.4.5 Other Clinical Applications

    5. 2.5 Geography

      1. 2.5.1 North America

        1. 2.5.1.1 United States

        2. 2.5.1.2 Canada

        3. 2.5.1.3 Mexico

      2. 2.5.2 Europe

        1. 2.5.2.1 Germany

        2. 2.5.2.2 United Kingdom

        3. 2.5.2.3 France

        4. 2.5.2.4 Italy

        5. 2.5.2.5 Spain

        6. 2.5.2.6 Rest of Europe

      3. 2.5.3 Asia-Pacific

        1. 2.5.3.1 China

        2. 2.5.3.2 Japan

        3. 2.5.3.3 India

        4. 2.5.3.4 Australia

        5. 2.5.3.5 South Korea

        6. 2.5.3.6 Rest of Asia-Pacific

      4. 2.5.4 Middle East and Africa

        1. 2.5.4.1 GCC

        2. 2.5.4.2 South Africa

        3. 2.5.4.3 Rest of Middle East and Africa

      5. 2.5.5 South America

        1. 2.5.5.1 Brazil

        2. 2.5.5.2 Argentina

        3. 2.5.5.3 Rest of South America

Advanced Visualization Market Size FAQs

The Advanced Visualization Market is projected to register a CAGR of 11.30% during the forecast period (2024-2029)

Fujifilm Holdings Corporation, Koninklijke Philips N.V., Agfa-Gevaert Group, Canon Inc. (Canon Medical Systems Corporation) and General Electric Company (GE Healthcare) are the major companies operating in the Advanced Visualization Market.

Advanced Visualization Market Report Snapshots

Advanced Visualization Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)