According to study, “Asia-Pacific Advanced Visualization (AV) Market (2018-2023)” some of the major companies that are currently working in the Asia-Pacific Advanced Visualization (AV) market are Toshiba Corporation, Koninklijke Philips N.V, Agfa-Gevaert Group, QI imaging LLC, Fujifilm Holdings Corporation, Siemens AG, Conmed, Onex Corporation, Ziosoft, Terarecon Inc., General Electric Company.
Advanced visualization (AV) systems are medicinal tools, which are equipped through advanced software that shows the various aspects of an existing cell efficiently. AV helps in developing 3D image to the mind making. It is an important part of the healthcare ecosystem. It enables doctors to access archived records and replace it with other experts over a common platform. It assists early diagnosis, detection, and treatment of diseases. AV system reduces the turnaround time in use by clinicians to report the outcome to the patient. These systems are extensively operated in pathological laboratories for different medical applications moreover AV also helps in targeted medicine therapy, eventually reducing the cost of the process.
On the basis of type of product, the Asia-Pacific AV market is segmented into software product, implantation service, hardware product, post-scale product and maintenance services etc. On the basis of solution, the market is segmented into standalone workstation based solution and enterprise wide thin client based solution. Enterprise wide thin client based solution have many advantages such as data transfer capabilities, enhanced data storage capacity, multi-user interface, centralized post processing solutions and streamlined analysis.
On the basis of imaging modality, the market is segmented into positron emission tomography (PET), ultrasound, magnetic resonance imaging (MRI), nuclear medicines, computer tomography (CT) and x-ray. On the basis of application, the market is segmented into oncology, cardiology, vascular, orthopedics, radiology or interventional radiology, neurology and other clinical applications. In addition, on the basis of end user, the market is segmented into imaging centers, hospitals & surgical centers, academic & research centers and other end users.
The market of Asia-Pacific AV is driven by increasing aging population followed by increasing disposable income, rising demand for efficient & early diagnosis of diseases (cancer), increasing awareness about advanced diagnostics. The countries such as Japan and Australia have outstanding imaging technology and medical infrastructure. However Nepal, Bangladesh and Afghanistan have subpar facilities, which are creating threats for this market. Additionally, the use of complex and need of support of service professionals or expert training is more costly. Therefore countries such as Pakistan, Bangladesh and Afghanistan find difficult apply them due technological and economical challenges.
Some of the restraining factor associated with AV market includes slashing hospitals budgets, insufficient reimbursement for analytical procedures such as radiology applications & technical limitations and limited success in rural hospitals. In addition, some trends associated with the development are software enhancing medical diagnosis, innovative new products and expanding clinical applications by innovation in imaging devices etc.
The Asia-Pacific AV market is growing increasingly owing to increased technical advancements in AV software such as combination of AV and PACS tools. It is anticipated to reach US$ billion by 2023 with a CAGR of 13.4% during 2018-2023. In coming years, it is expected that the market to grow increasingly due to diseases such as cardiac, cancer and neurological disorder followed by habits of using tobacco & alcohol consumption.
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Ankur Gupta, Head Marketing & Communications