The global medical imaging informatics market size was US$ 2.76 billion in 2021. The global medical imaging informatics market size is forecast to reach US$ 4.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 6.3% during the forecast period from 2022 to 2030.

Medical imaging informatics, also known as imaging informatics and radiology informatics, helps exchange and transfer medical images throughout the healthcare system. Medical imaging informatics represents one of the emerging medical image processing and analysis techniques in the healthcare IT market. Furthermore, technological advances in diagnostic imaging procedures provide advanced techniques for visualizing organs.

Factors Influencing Market Growth

• A number of factors drive the growth of the global medical imaging informatics market size, including the rising number of diagnostic imaging procedures, the prevalence of chronic diseases, the reduction in the price of storage platforms, and improvements to the healthcare ecosystem. 
• High installation costs of medical imaging informatics solutions and a lack of expertise may slow down the overall market growth. 
• A wide range of cost-effective medical informatics data storage platforms is likely to drive the global market growth during the forecast period.

Impact Analysis of COVID-19

The COVID-19 pandemic forced many companies in the global medical imaging informatics market to cease operations for a short period to comply with new regulations to curb the spread of the disease. The halt in operations directly affected the revenue flow of the global medical imaging informatics market. The lockdown also halted the manufacturing of industrial products due to a lack of raw materials and manpower. In addition, no new consignments received by companies in this sector. As a result, lockdowns and halts in industrial activities affected global medical image informatics for several months. However, during the forecast period, the global market is forecast to experience a slow recovery. 

Regional Insights

North America had the fastest growth in 2021. Due to improvements in healthcare infrastructures and increasing expenditures in emerging markets (India and China) to address unmet medical needs. Technological advancement to develop cost-effective devices in these nations offers a lucrative opportunity for market growth.

The Asia Pacific is forecast to grow at a faster pace during the forecast period. As a result of the increase in medical imaging procedures, high prevalence of chronic diseases, increased investments to improve health care systems, and growth in R&D, the market is growing in the region. Medical imaging informatics advances have made it possible for clinicians (radiologists and other physicians) to manage patients' documented information more effectively, thus contributing to the market growth in the region. 

Leading Competitors

The leading prominent companies profiled in the global medical imaging informatics market are:

• Koninklijke Philips N.V.
• General Electric Company
• Siemens AG
• Agfa Gevaert N.V.
• Medtronic, Inc.
• McKesson Corporation
• Lexmark International, Incorporated
• Toshiba corporation
• Esaote SpA
• Dell Technologies Incorporated
• Other Prominent Players

Scope of the Report

The global medical imaging informatics market segmentation focuses on Component, Application, Deployment, End-User, and Region.

Segmentation based on Component

• Software
• Hardware
• Services

Segmentation based on Application

• Mammography
• CT scan (Computed tomography)
• MRI (Magnetic resonance imaging)
• Combined Modality
• Ultrasound
• Radiographic
• Nuclear Imaging

Segmentation based on Deployment

• Standalone
• Integrated

Segmentation based on End-User

• Hospitals
• Specialized Clinics
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America