PUBLISHER: The Business Research Company | PRODUCT CODE: 1484705
PUBLISHER: The Business Research Company | PRODUCT CODE: 1484705
Advanced visualization involves the use of cutting-edge software and hardware technologies to produce detailed and interactive visual depictions of complex data. This process facilitates deeper insights and improved decision-making capabilities across a range of fields.
The principal offerings in the advanced visualization market include hardware, software, and services. Hardware comprises essential physical components such as computers, monitors, and graphic cards, which are instrumental in processing and displaying medical imaging data with high precision and clarity, thus supporting diagnostic interpretation and treatment planning. Key imaging modalities include magnetic resonance imaging (MRI), computed tomography (CT), ultrasound, and nuclear medicine, among others. These technologies find applications across various clinical specialties, including radiology, interventional radiology, cardiology, orthopedics, oncology, vascular, and neurology. The primary users of these technologies are hospitals, surgical centers, imaging centers, and academic and research institutions, among others.
The advanced visualization research report is one of a series of new reports from The Business Research Company that provides advanced visualization market statistics, including the advanced visualization industry's global market size, regional shares, competitors with an advanced visualization market share, detailed advanced visualization market segments, market trends and opportunities, and any further data you may need to thrive in the advanced visualization industry. This advanced visualization market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The advanced visualization market size has grown rapidly in recent years. It will grow from $3.19 billion in 2023 to $3.62 billion in 2024 at a compound annual growth rate (CAGR) of 13.4%. The expansion observed in the historical period can be attributed to the emergence of big data, increased interdisciplinary collaboration, the integration of virtual reality (VR) and augmented reality (AR), and the growing demand for precision and accuracy.
The advanced visualization market size is expected to see rapid growth in the next few years. It will grow to $6.09 billion in 2028 at a compound annual growth rate (CAGR) of 13.9%. The anticipated growth during the forecast period is expected to be driven by advancements in real-time visualization, the expansion of cloud-based solutions, improvements in user experience design, the need for regulatory compliance and data security, and increased integration with Internet of Things (IoT) devices. Key trends projected for this period include AI-driven automation in visualization, personalized and adaptive visualization strategies, a focus on data ethics and responsible visualization practices, decentralized and federated visualization approaches, and the development of integrated collaboration platforms.
The expansion of telehealth medicine is anticipated to drive the growth of the advanced visualization market. Telehealth, the remote delivery of healthcare services via telecommunications technology, is expanding due to factors such as increased accessibility, convenience, cost savings, public health concerns, and supportive government policies. Advanced visualization tools, which include interactive 3D models, videos, and graphics, are pivotal in this expansion. These tools enable healthcare providers to more effectively engage with patients, explaining medical conditions, treatment options, and prognoses. This capability not only extends the reach of telehealth services but also enhances the effectiveness of remote diagnoses and access to specialized care, ultimately improving patient outcomes globally. For example, a February 2023 report by Rock Health highlighted a significant rise in telemedicine utilization, with 80% of surveyed individuals having used telemedicine services at least once, an increase from 72% in 2021. This demonstrates a growing reliance on and effectiveness of telehealth solutions facilitated by advanced visualization technologies.
Leading players in the advanced visualization market are developing innovative solutions, such as the studio canvas, to boost diagnostic capabilities and improve patient outcomes. Introduced by Forsta in May 2023, the studio canvas is an advanced data visualization and storytelling tool integrated within the Forsta Human Experience (HX) Platform. This solution empowers customer experience (CX) and employee experience (EX) professionals to craft dynamic data representations that combine relevant data with intuitive imagery to depict customer and employee journeys vividly. The studio canvas allows users to transform raw data into visually engaging reports that surpass traditional graphs and tables, promoting insights that are compelling, contextual, and easily disseminated across organizations in real-time. This tool not only aids in data comprehension but also fosters collective ownership of CX improvements enterprise-wide.
In December 2021, GE Healthcare, a US-based medical technology company, acquired BK Medical for $1.45 billion. This strategic acquisition is aimed at broadening GE Healthcare's ultrasound portfolio into the surgical and therapeutic interventions market by leveraging BK Medical's expertise in real-time surgical visualization technologies. BK Medical specializes in advanced surgical visualization technology and software solutions, highlighting GE Healthcare's commitment to integrating cutting-edge visualization capabilities into its offerings.
Major companies operating in the advanced visualization market are Siemens Aktiengesellschaft, General Electric Company, Canon Inc., Toshiba Corporation, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Hologic Inc., Esaote S.p.A., Agfa-Gevaert N.V., Carestream Health, Brainlab AG, Domo Inc., Materialise NV, Intelerad Medical Systems, Pro Medicus Limited, Terarecon Inc., Zigron Inc., Visage Imaging Inc., Pie Medical Imaging B.V., Ziosoft Inc., Tetracam Inc., Three Palm Software LLC, Seeq Corporation, QI Imaging LLC, Intrasense SA
North America was the largest region in the advanced visualization market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the advanced visualization market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the advanced visualization market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The advanced visualization market consists of revenues earned by entities by providing imaging and simulation, medical visualization and surgical planning, data visualization and analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The advanced visualization market also includes sales of interactive 3D visualization, cloud-based visualization platforms, custom visualization solutions, and geospatial visualization. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Advanced Visualization Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on advanced visualization market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for advanced visualization ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The advanced visualization market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.