The Latin America Advanced Visualization Market was worth $ 0.23 billion in 2016 and estimated to be growing at a CAGR of 10%, to reach $ 0.37 billion by 2021.
Advanced Visualization enable clinicians to access and share images of data through an Advanced visualization software, enable advanced diagnosis through effective visualization and study of diagnostic exams. In the face of growing diagnostic workloads, AV solutions help clinicians arrive at precise diagnoses of pathologies, thereby enhancing patient management.
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Computed tomography has the larger share of R&D efforts in the AV industry, with MRI in a second place, followed by positron emission tomography (PET/CT) and nuclear medicine, mainly represented by single-photon emission computed tomography (SPECT). Reflecting the technology and market advances of hybrid imaging systems, notably PET/CT and PET/MR, multimodality image fusion is on the rise as well.
Inventions with forever powerful clinical application are appearing in every area where these modalities are evolving, such as radiology, cardiology, image-guided surgery, neurology, orthopedics and oncology.
Due to the huge investments by the corporate companies in R&D of Advanced visualization systems is expected to have a large market in the future. The market over the world is witnessing growth due to factors such as technological advancements in Advanced Visualization software such as integration of PACS & AV tools, improved diagnostic interpretation with AV tools, rising frequency of target diseases, and rising demand for advanced diagnostic procedures.
However, there are some restraints in the market like Hacking technology, Lack of skilled professionals and aspects of cost effective.
The Advanced visualization market is broadly categorised by Product and Services, by Solution, Imaging Modality, by Clinical Application, by End user. Product and services is further segmented by Hardware, Software and services.
Solution is segmented into enterprise-wide thin client-based solutions and stand-alone workstation-based solutions. Imaging Modality is segmented into Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Positron Emission Tomography (PET), Ultrasound, Radiotherapy (RT), Nuclear Medicine, Others (PET and SPECT).
Clinical application is segmented into Radiology, Orthopedics, Cardiac, Neurology, Oncology, Vascular, Neurology and Others. End user is further segmented to Hospitals and Surgical Centres, Imaging Centres, Academic and Research Centres and Others.
Latin America market region includes countries such as Brazil, Mexico, Argentina, and remaining countries of South America. The huge rise in spending in the healthcare division has increased the demand for Advanced Visualization Software.
Brazil is one of the largest markets in this region followed by Mexico, Argentina, and Columbia, which are also intensifying their investments in the diagnostic imaging technology market. Latin America has a share of 12% of the Global Advanced visualization market.
Some of the major companies dominating the market, by their products and services include General Electric Company (U.S.), Canon Inc, Siemens AG (Germany), Koninklijke Philips N.V. (Netherlands), Fujifilm Holdings Corporation (Japan), Toshiba Corporation (Japan), Terarecon, Inc.
(U.S.), Carestream Health, Inc. (U.S.), Pro Medicus Limited (Australia), Ziosoft (Japan), Agfa-Geveart N.V.
(Belgium), and Qi Imaging, LLC (U.S.).
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