In a recent published report, Kenneth Research has updated the Market report for Advanced Visualization Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Advanced Visualization Market Products.
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According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
“Final Report will add the analysis of the impact of COVID-19 on this industry.”
The value of the global advanced visualization (AV) market is expected to reach a value of USD 4.03 Bn by 2023, expanding at a CAGR of 11.15% during 2018 -2023.
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. They help specialists by providing a better understanding of various clinical issues, thus leading to faster and higher quality healthcare. These systems are widely utilized in most pathological laboratories. They also help in targeted drug therapy, ultimately reducing the cost of the procedure.
The global AV market can be classified into three primary segments and by geography.
Based on the types of product the market is segmented into hardware and software and services.
Based on solution, the market is segmented into enterprise-wide thin client-based solution and standalone workstation-based solution.
Based on imaging modality, the market is segmented into magnetic resonance imaging (MRI), positron emission tomography (PET), ultrasound, computed tomography (CT) and x-ray.
Based on geography, the market is divided into North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa.
Among the types of products, the hardware and software segment had the larger share in the global market in 2016. Among the different types of AV solution, enterprise-wide thin client-based solution held the larger share in the global market, and among different imaging types, the CT segment contributed the largest revenue to the global AV market in 2016.
Asia-Pacific is expected to have the highest growth rate due to the increased demand from emerging economies like India, Indonesia and others as well as due to high patient population and the increasing trend of medical tourism in this region during the forecast period.
Growing digitalization, as well as automation of diagnostic workflow in hospitals has become a major trend in the market. This has rapidly increased the global AV market.
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Key growth factors
The development in technology has led to the development of various cutting-edge, high definition visualization software and hardware which have helped in the expansion of this market. For example, the advances in the 3D and 4D ultrasound technology now offer capabilities ranging from better visualization of congenital birth defects to dynamic and multi-planar view of the fetal heart.
Another reason for the rapid expansion of this market is the rise in chronic diseases among the population leading to an increased need for better diagnostics and imaging techniques which can be provided by advanced visualization.
Threats and key players
The use of AV, however, is complicated and requires the assistance of service consultants. Due to this, specialists tend to prefer traditional diagnostic methods, which hinders the growth of the AV market.
Apart from this, factors such as limited medical reimbursements for radiology-based diagnostic procedures and technological limitations associated with existing AV analysis may restrain the market.
Toshiba Corporation, General Electric Company, Terarecon Inc., Siemens AG, Koninklijke Philips N.V, Fujifilm Holdings Corporation, Pro Medicus, Agfa-Gevaert N.V., Ziosoft and Conmed are some of the key players in the market.
What’s covered in the report?
1. Overview of the global AV learning market.
2. Market drivers and challenges of the global AV market.
3. Market trends in the global 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 (MRI), positron emission tomography (PET), ultrasound, computed tomography (CT) and x-ray.
7. Historical, current and forecasted region-wise (North America, Europe, Asia-Pacific, Latin America and the Middle East and Africa) market size data for the AV market.
8. Historical, current and forecasted market size data for region-wise segments.
9. Analysis of the company profiles of major competitors operating in the market.
1. Understand the demand for the global AV market to determine the viability of the business.
2. Determine the developed and new markets where global AV is utilized.
3. Formulate a product market strategy based on the position in the value chain and determine the optimal product/service placement.
4. Identifying the gaps and addressing them accordingly.
5. Developing strategies based on various economic factors for each segment and industry.
6. Define the competitive positioning by comparing the products with the key players in the market.
The Market report answers the following questions:
What is the aim of the report?
- The market report presents the estimated market size of Advanced Visualization Market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
- Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
- An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
- The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
- The various parameters accelerating the growth of Market are incorporated in the research report.
- The report analyzes growth rate, market size and valuation of the Market during the forecast period.
What aspects regarding the regional analysis Market are included in this report?
- Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
- The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
- The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
Based on what factors are the key market players assessed in this report?
- The report offers detailed analysis of leading companies in the market across the globe.
- It provides details of the major vendors involved in the Market including Key Playes
- A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and the manufactured products is incorporated in the report.
- The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
- The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.
What is the key information extracted from the report?
- Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
- The report offers the present scenario and future growth prospects Market in various geographical regions.
- The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
- The SWOT analysis is conducted along with Porter’s Five Force analysis.
- The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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