Zion Market Research has published a new report titled “Medical Image Analysis Software Market by Software Type (Integrated and Stand-alone), By Modality (Tomography, Ultrasound Imaging, Radiographic Imaging, and Combined Modalities), By Application (Orthopedic, Dental, Neurology, Cardiology, Oncology, Obstetrics & Gynecology, Mammography, and Urology & Nephrology) and By End-Use (Hospitals, Diagnostic, and Research Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2024”. According to the report, global medical image analysis software market was valued at approximately USD 2.70 billion in 2017 and is expected to reach around USD 4.48 billion by 2024, growing at a CAGR of 8.3 % between 2018 and 2024.
Early detection of a disease is essential to take appropriate medical care. Medical imaging techniques are widely used for accurate diagnosis of diseases pertaining to cardiology, orthopedic, neurology, and others. With rising global disease burden demand for quality, healthcare is on the rise. To cope up with it, medical device manufacturers, researchers, and innovators have to excel at their services and reduce preventable clinical errors and misdiagnosis cases. The image analysis software market is providing sophisticated technological support to researchers and medical professionals to tackle the complex challenges which occur in analyzing the imaging data. Different imaging software’s are available in the market which is proving beneficial for the proper diagnosis and prognosis of the relevant medical condition.
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Primary factors responsible for the growth of medical image analysis software market are the prevalence of chronic diseases, the growing adoption of computer-aided diagnostic methods, and improving healthcare infrastructure across several emerging economies. However, high costs of software and a dearth of skilled professionals are restraining the growth of the global medical image analysis software systems market.
By software type, the global medical image analysis software market is divided into integrated and stand alone. Among these two segments, standalone software segment is expected to account for the largest share of the market. The standalone software segment offers user-friendly tools to accurately analyze, evaluate, and process the imaging data thus widely being adopted in the market.
On the basis of modality, the global medical image analysis software market is divided into tomography, ultrasound, radiographic imaging, and combined modalities. On the basis of application, the market is divided into cardiology, orthopedic, neurology, oncology, dental, obstetrics & gynecology, mammography, and urology & Nephrology. The cardiology segment dominated the market and accounted for the largest share in 2017. The outsized share of this segment is primarily credited to the prime factors such as advancements in cardiac imaging technologies and the growing number of cardiac imaging checkups due to the growing incidence of heart disorders. The orthopedic segment is expected to grow at the highest CAGR during the forecast period.
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Based on the end user segment, the global medical image analysis software market is segmented into hospitals, diagnostics centers, research centers, and others. The diagnostics and research segments accounted for a maximum share from the end-user segment.
Based on the geography, the global medical image analysis software market is divided into five regions North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America is expected to remain the dominant region over the forecast period. Europe was the second largest market followed by the Asia Pacific. Asia Pacific was the fastest growing market with highest CAGR during the forecast period. Developing economies such as India and China are accelerating the growth of this region owing to the development of healthcare infrastructure and heightened corporate investments in the healthcare sector. The Middle East and Africa and Latin America are expected to experience moderate growth in the medical image analysis software market in the years to come.
Some of the key players in medical image analysis software market include Bruker Corporation, Esaote Inc., Merge Healthcare Inc., Spacelabs Healthcare Inc., Carestream Health Inc., Philips Healthcare, GE Healthcare, Toshiba Medical Systems Corporation, Xinapse Systems Ltd., ClaroNAv Inc., Aquilab GmbH, MIM Software Inc., Agfa-Gevaert Corporation, Siemens Healthineers, among others.
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This report segments the global medical image analysis software market as follows:
Global Medical Image Analysis Software Market: Type Segment Analysis
- Integrated Software
- Stand-alone Software
Global Medical Image Analysis Software Market: Modality Segment Analysis
- Ultrasound Imaging
- Radiographic Imaging
- Combined Modalities
Global Medical Image Analysis Software Market: Application Segment Analysis
- Obstetrics & Gynecology
- Urology & Nephrology
Global Medical Image Analysis Software Market: End-user Segment Analysis
- Research Centers
Global Medical Image Analysis Software Market: Regional Segment
- North America
- The U.S.
- Asia Pacific
- Latin America
- The Middle East and Africa
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