The research analysts at the Transparency Market Research have placed the evaluation of the global medical image analysis software market at US$ 2.91 billion in the year 2018. They predict that the global medical image analysis software market will grow and reach the evaluation of US$ 5.87 billion at the end of the forecast period of 2019 to 2027 i.e. 2027. They also project that the global medical image analysis software market will witness a stellar CAGR i.e. 8.1% during the forecast period i.e. 2019 to 2027. Some of the key factors motivating the sales in the global medical image analysis software market include rising incidence of chronic diseases, increasing geriatric population, increase in the demand for medical imaging, and rise in the adoption of 4D imaging technologies. On the other hand, high cost associated with gaining access to medical imaging solutions may pose as a challenge for various social groups. This may hinder the growth of the global medical image analysis software market in coming years.
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Rising Instances of Cancer and Cardiovascular Diseases Create High Demand in Medical Image Analysis Software Market
Rising instances of cancer as well as cardiovascular diseases are creating high demand for the MRI and CT products in the global medical image analysis software market. Types of software solutions offered by the players in the global medical image analysis software market are standalone software type and integrated software type. Segments in the global medical image analysis software market by the imaging type are 2D imaging, 4D imaging, and 3D imaging. Segments in the global medical image analysis software market based by the modality include CT, PET, Ultrasound, MRI, SPECT, and Radiographic imaging, among other modalities. Solutions in the global medical image analysis software market are widely preferred owing to their benefits such as early disease diagnosis, lesser hospital admissions, reduction in hospitalization, and reduction in the need for surgery.
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Application segments for the products in the global medical image analysis software market include orthopedic, neurology, dental, cardiology, oncology, nephrology, and gynecology, among others. Major end users for the products and the solutions in the global medical image analysis software market include hospitals, research and academic institutes, ambulatory surgical centers or ASCs, clinics, and diagnostic centers, among others. Key regions assessed in the research report on the global medical image analysis software market include Europe (including the United Kingdom, Italy, Germany, Spain, France, and rest of the Europe), Latin America (including Mexico, Brazil, and rest of the Latin America), North America (Canada and the United States), Middle East and Africa (including Gulf Cooperation Council countries, South Africa, and rest of the Middle East and Africa), and Asia Pacific (including Japan, Australia, China, India, New Zealand, and rest of the Asia Pacific).
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Players in Medical Image Analysis Software Market Engaged in New Product Launches and Collaborations
Some of the leading incumbent players covered in the market analysis on the global medical image analysis software market include GE Healthcare, Agfa Gevaert N. V., Pie Medical Imaging, Media Cybernetics, Inc., MIM Software Inc., ScienceSoft USA Corporation, Siemens Healthineers, Hologic, Inc., AQUILAB, and Merge Healthcare Incorporated. Players and manufacturers in the global medical image analysis software market are engaged in gaining regulatory approvals for their products, launching new and technologically enhanced products, and collaborations as well as acquisitions. For example, Philips, in October of 2017, launched a new cardiovascular image and information management system called ‘IntelliSpace’ at Canadian Cardiovascular Congress at Toronto. Furthermore, in July of 2017, it was announced by GE Healthcare that they will provide VNA and PACS systems for a health delivery system catering to over 70 communities in Washington, California, Oregon, and Hawaii, known as ‘Adventist Health’.
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The global medical image analysis software market has been segmented as follows:
· Global Medical Image Analysis Software Market, by Software Type
o Integrated software type
o Standalone software type
· Global Medical Image Analysis Software Market, by Imaging Type
o 2D imaging
o 3D imaging
o 4D imaging
· Global Medical Image Analysis Software Market, by Modality
o CT
o MRI
o PET
o SPECT
o Ultrasound
o Radiographic imaging
o Other modalities
· Global Medical Image Analysis Software Market, by Application
o Cardiology
o Orthopaedic
o Oncology
o Neurology
o Nephrology
o Dental
o Gynaecology
o Others
· Global Medical Image Analysis Software Market, by End-user
o Hospitals
o Clinics
o Research and Academic Institutes
o Diagnostic Centers
o Ambulatory Surgical Centers (ASCs)
· Global Medical Image Analysis Software Market, by Region
o North America
§ U.S.
§ Canada
o Europe
§ Germany
§ U.K.
§ France
§ Italy
§ Spain
§ Rest of Europe
o Asia Pacific
§ China
§ India
§ Japan
§ Australia & New Zealand
§ Rest of Asia Pacific
o Latin America
§ Brazil
§ Mexico
§ Rest of Latin America
o Middle East & Africa
§ GCC Countries
§ South Africa
§ Rest of Middle East & Africa
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