Advanced visualization refers to 3D & 4D performance and analysis software for post-processing of images from clinical imaging equipment. It comprises of full-field digital mammography imaging tools. It also includes sophisticated clinical applications of sectors such as oncology, cardiology, neurology, and orthopedics. Advanced visualization refers to computer-aided detection (CAD) expertise that is based on composite pattern recognition. AV system includes products of implantation service products, hardware products, post-scale products, software products, and preservation services.
Some of the key characteristics of advanced visualization are direct data communication, improved operational & industry activities, improved adaptation of industry information, rapid identification of latest trends, rapid access to appropriate business insights, and easy data comprehension.
According to study, “Latin America Advanced Visualization (AV) Market (2018-2023)” some of the major companies that are currently working in the Latin America Advanced Visualization (AV) market are General Electric Company, Toshiba Corporation, Fujifilm Holdings Corporation, Siemens AG, Ziosoft, Terarecon Inc., Agfa-Gevaert Group, Conmed, Koninklijke Philips N.V. These key players provide insight into their market position, financial performance, and development strategies.
Based on the solutions, AV market is segmented into standalone and terminal based solution and enterprise broad client-based solution. Some of the major benefits are enterprise broad client based solution are enhanced data storage capacity, multi-user interface, data transfer capabilities, centralized post-processing solutions, and streamlined analysis. Additionally, the AV market includes imaging methods like-ray, positron emission tomography (PET), ultrasound, nuclear medicines, computed tomography (CT) and magnetic resonance imaging (MRI).
The Latin America AV is primarily driven by rising predominance of target problems, increasing disposable income, the enhanced symptomatic understanding with AV apparatuses, increasing in awareness about advanced diagnostics, expansion of internet speed, increasing chronic diseases (cancer, strokes, heart attacks, and diabetes), increasing aging population, and developing interest for cutting-edge indicative systems.
Some of the major challenges are the high cost of products of the system. Hospitals are not able to pay due to high cost and financial constraints associated with installing clinical imaging modalities. Some of the major restraint factors are lack of specialized personnel, lack of funding due to economic instability, short-sightedness, lack of skilled professionals, failures of previous projects and limited compromise of the government with electronic health (E-health) etc.
Countries like Argentina, Brazil are coming out of recessions. As well as inflation is controlled at sub-Nominal levels which provide a favorable opportunity for the advanced visualization of the industry? Moreover, the Inter-American Development Bank has developed several commercial strategies for better healthcare development. Therefore, it is expected that the market is expected to grow fast due to rise in income levels followed by growth in the gross domestic product (GDP).
Brazil is one of the major AV market in Latin America, followed by Argentina, Mexico, and Columbia. All these countries are increasing their savings in the diagnostic imaging technology market. In 2018, the value of Latin America AV market was US$0.2 billion. It is projected that this market is expected to reach US$ 0.4 billion, at a CAGR of 10.0 %, by 2023. In near future, it is predicted that the AV market is expected to reach a higher level in the coming years.
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Ankur Gupta, Head Marketing & Communications