(PRWEB) June 11, 2014
The global imaging informatics market is currently growing at a CAGR of about 6.0% from 2013 to 2018, and is expected to reach $4,569.1 million by 2018 from $3,415.48 million in 2013. The growth of this market is attributed to the rising need to integrate healthcare systems, increased government initiatives and funding to promote healthcare IT, and presence of healthcare equipment manufacturers in the healthcare information technology market. Similarly, strategic alliances, agreements, and partnerships are assisting the global imaging informatics market. However, scarcity of skilled healthcare IT professionals, a fragmented end-user market, and high maintenance costs are some major factors which may slow down the market growth.
Browse through the market data tables, figures and detailed TOC on the “Imaging Informatics Market.”
North American Imaging Informatics Market
North America is the leading imaging informatics market, expected to grow at a CAGR of 6.3% from $2,012.43 million in 2013 to $2,735.77 million in 2018. The demand for imaging informatics is expected to increase in the future due to Federal healthcare reforms in North America. The growth is also assisted by government initiatives, use of software resulting in the reduction of medical errors, and high return on investment. However, the highly fragmented end-user market is expected to hinder the growth of this market.
European Imaging Informatics Market
Europe is the second-largest imaging informatics market, projected to reach $1,037.2 million in 2018 from $795.81 million in 2013, to grow at a CAGR of 5.4% during the forecast period. Germany is the leading market for imaging informatics in Europe, expected to grow at a CAGR of 5.7% in the period from 2013 to 2018. The growth of the European imaging informatics market is primarily driven by investment from healthcare stakeholders, rise in healthcare IT expenditure, and cost containment efforts through use of healthcare IT. However, high prices, high maintenance, and services expenses are some of the factors that could obstruct the growth of this market.
Asian Imaging Informatics Market
The Asian imaging informatics market is poised to grow at a CAGR of 6.4% to reach $581.28 million by 2018 from $427.07 million in 2013. India is expected to be the fastest-growing Asian imaging informatics market during 2013 to 2018. The Asian region is anticipated to grow at a high growth rate due to various factors such as improved and uniform quality healthcare, abundant funding and grants by government bodies, increase in the adoption of new technology, and increased investments from private players. The scarcity of skilled healthcare IT professionals and product interoperability issues may hamper the growth of Asian imaging informatics market.
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