The global market for advanced visualization (AV) will grow at a double-digit pace over the next five years, according to a new market research report.
The market will grow at a compound annual growth rate (CAGR) of 10.9% from 2015 to 2020, according to a report from MarketsandMarkets. While North America will hold a large share of the market, the Asia-Pacific region is expected to see the highest growth rates over the next five years.
Major factors contributing to the market are aging populations, the development of technologically advanced AV software, and the integration of AV software into PACS. New growth opportunities will also come from the incorporation of AV software into mobile devices, new AV applications, and geographic expansion by key AV vendors outside the U.S.
Working as a brake on growth will be declining reimbursement for radiology services and the implementation of healthcare reforms that are unfavorable to radiology.
