Medical Image Management Market Size, Share, Growth Analysis, By Product(Picture Archiving, Communication Systems (PACS), Vendor Neutral Archives (VNA), Application-independent Clinical Archives (AICA)), By End users(Hospitals, Diagnostic Imaging Centers, others), By Region - Industry Forecast 2024-2031

Medical Image Management Market size was valued at USD 3.47 billion in 2019 and is poised to grow from USD 3.73 billion in 2023 to USD 7.22 billion by 2031, growing at a CAGR of 7.6% in the forecast period (2024-2031).

Global Medical Image Management Market is moderately fragmented with major global players. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies such as innovations, mergers, and acquisitions, collaborations and partnerships. Key players in the market include Carestream Health, Inc., Fujifilm Holdings Corporation, IBM Corporation, Siemens Healthineers‎ and GE Healthcare. The number of companies in the market has been constrained by the high cost of the systems. However, improvements in data management analytics and artificial intelligence are anticipated to aid small businesses in entering the market. 'McKesson Corporation ', 'Merge Healthcare Inc', 'Agfa-Gevaert Group', 'General Electric Company (GE Healthcare)', 'Fujifilm Holdings Corporation', 'Siemens Healthineers AG', 'Philips Healthcare', 'Agfa-Gevaert NV', 'Merge Healthcare (IBM Watson Health)', 'Sectra AB', 'Carestream Health, Inc.', 'INFINITT Healthcare Co., Ltd.', 'Hyland Software, Inc. (Perceptive Software)', 'BridgeHead Software Limited', 'Mach7 Technologies Ltd.', 'Novarad Corporation', 'Intelerad Medical Systems Incorporated', 'Dell Technologies Inc. (Dell EMC)', 'IBM Corporation', 'NantHealth, Inc.', 'Ambra Health', 'TeraMedica, Inc. (FUJIFILM Medical Systems USA, Inc.)'

Growing public-private investments, an increase in the number of diagnostic imaging centres, rising cancer incidence rates, an ageing population that is leading to an increase in the incidence of various diseases, and technological developments in diagnostic imaging are some of the factors influencing the growth of the global medical image management market.

The prevalence of chronic illnesses and disorders is growing, which is driving up the demand for clinical imaging diagnostics and supporting the PACS industry. Due to their data security features, such as saving photos offshore in data warehouses and on local computers, which enable the practitioner to view the photographs even if the server fails, hybrid cloud models are becoming more popular. Along with increasing staff productivity, technical advancements and the incorporation of cutting-edge technologies into the PACS interface, such as artificial intelligence (AI) and machine learning (ML), are contributing to market growth.

North America region held the highest share in the Global Medical Image Management Market in 2021 followed by Europe. This is explained by factors such as the region's numerous imaging facilities, active research projects, and the rapid uptake of advanced imaging technology. The adoption of medical image management in this region is also being influenced by government initiatives toward digitalization, an increase in the use of EHR/EMR and data storage & sharing systems, and other considerations. The United States has one of the greatest healthcare systems, and with the aid of foundations and non-profit groups, the healthcare system is made to be more helpful. The Association for Medical Imaging Management (AHRA) generates significant income through corporate sponsorships and private donations, which is put toward improving medical imaging management in the United States. Some of the reasons accelerating the growth of the medical image management market in the U.S. include the participation of such associations and the general public's quick acceptance of healthcare IT products.