The factors driving market growth include technological advancements in AV software such as integration of PACS & AV tools, improved diagnostic interpretation with AV tools, rising prevalence of target diseases, and growing demand for advanced diagnostic procedures. However, factors such as limited medical reimbursements for radiology-based diagnostic procedures and technological limitations associated with existing advanced visualization analysis may restrain the market growth.
The market is segmented into magnetic resonance imaging, computed tomography, positron emission tomography, ultrasound, radiotherapy, nuclear medicine, and other imaging modalities. In 2016, the magnetic resonance imaging segment is expected to command the largest share of the market due to the growing application of MRI in several clinical areas such as oncology, radiology, and cardiology is driving the number of MRI imaging procedures.
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The market is segmented into radiology/interventional radiology, cardiology, orthopedics, oncology, vascular, neurology, and other clinical areas (obstetrics/gynaecology, urology, pulmonary, and gastroenterology).
The market is segmented into hospitals and surgical centers, imaging centers, academic and research centers, and other end users (pharmaceutical/biotechnology companies and CROs).
The global advanced visualization market is dominated by North America, followed by Europe, Asia-Pacific, and the Rest of the World (RoW). In 2016, North America is expected to account for largest share of the market. The Asia-Pacific region is projected to grow at the highest CAGR during the forecast period.
Major players present in the market include General Electric Company (U.S.), Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Toshiba corporation (Japan), TeraRecon, Inc (U.S.), Pro Medicus Limited (Australia), Carestream Health, Inc (Onex Corporation) (Canada), Agfa HealthCare (Agfa-Gevaert N.V.) (Belgium), and Qi Imaging, LLC (NantWorks LLC) (U.S.), among others.
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