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The global Medical Imaging Informatics market size is expected to attain a market size of $5.2billion by 2022, growing at a CAGR of 6.1% during the forecast period.
Medical imaging informatics (MII) is a subspecialty of biomedical informatics and it aims at providing accurate, useful, and efficient interpretations of complicated images by converting the images into simpler, communicable, and in a useful manner. The technology is largely used in health care IT sector, especially by radiologists. Medical imaging informatics is comprised of application, development, and assessment of information which are then used to treat patients effectively.Increase in the number of diagnostic imaging procedures, high prevalence of chronic diseases, falling cost for medical imaging informatics data storage platforms, and improving healthcare ecosystems are the major factors driving the market growth. However, lack of expertise to manage information technology integrated imaging modalities and high installation cost of medical imaging informatics solutions would restrict the market growth. Furthermore, developing countries such as China and India would be among the major market with tremendous market opportunities.
The Medical Imaging Informatics market size is segmented based on Component, Deployment Types, End-user, Application and Geography. Based on Component, the market is segmented into software, hardware and services. Based on Deployment Types, the market is segmented into Web based, On Premise and Cloud. Based on End-User, the market is segmented into hospitals, diagnostics centers, ambulatory healthcare settings and others. Based on Application, the Medical Imaging Informatics market size is segmented into Digital Radiography, Ultrasound, Magnetic Resonance Imaging, Computed Tomography, Nuclear Imaging and Others.Based on region, Medical Imaging Informatics market is segmented into North America (US, Canada, Mexico and Rest of North America), Europe (Germany, UK, France, Russia, Spain, Italy and Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Singapore, Malaysia and Rest of Asia-Pacific) and Latin America, and Middle East & Africa. North America remained the dominant region in the global Medical Imaging Informatics market in 2015. Asia-Pacific would witness promising CAGR during the forecast period (2016-2022).