Emergence of 4D imaging to Positively Impact Medical Imaging Software Market Growth
Medical Imaging Software Market Research Report: Information by Software Type (Integrated & Stand-Alone), Imaging Type (2D, 3D, & 4D), Modality (CT & MRI), Application (Neurology & Cardiology), & End User (Clinics & Hospitals) — Global Forecast till 2027
Market Analysis
The global medical imaging software market is predicted to grow at a favorable 8.4% CAGR between 2018- 2023, as per the recent analysis by Market Research Future (MRFR). Medical imaging software helps to process and produce high-resolution images of the internal parts of the body for the diagnosis and treatment of the disease.
Various factors are propelling the global medical imaging software market growth. As per the latest MRFR report, such factors include increased healthcare expenditure, an increasing number of diagnostic centers, growing funding from the government for the development of the medical diagnostics field, and increasing geriatric population. Additional factors adding market growth include the rising prevalence of neurological diseases, cardiac ailments, and cancer, and the emergence of 3D imaging and 4D imaging.
On the contrary, scarcity of skilled professionals, high equipment cost, and the grave effect of the COVID-19 pandemic are factors that may impede the global medical imaging software market growth over the forecast period.
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Market Segmentation
The MRFR report provides an inclusive segmental analysis of the medical imaging software market report based on end user, application, modality, imaging type, and software type.
By software type, the medical imaging software market has been segmented into stand-alone software and integrated software. Of these, the stand-alone software segment will lead the market over the forecast period.
By imaging type, the global medical imaging software market is segmented into 4D imaging, 3D imaging, and 2D imaging. Of these, the 3D imaging segment will dominate the market over the forecast period.
Based on modality, the global medical imaging software market is segmented into thermography, ultrasound, echocardiography, nuclear medicine, photoacoustic imaging, radiography, MRI (magnetic resonance imaging), and computed tomography (CT).
Based on the application, the global medical imaging software market is segmented into urology and nephrology, obstetrics and gynecology, dental, musculoskeletal, oncology, cardiology, neurology, and others. Of these, the oncology segment will have a major share in the market over the forecast period.
By end user, the global medical imaging software market is segmented into research laboratories, diagnostic centers, clinics and hospitals, and others. Of these, clinics and hospitals will have lions share in the market over the forecast period.
Regional Analysis
By region, the global medical imaging software market report covers the growth opportunities and recent trends across the Americas, Europe, the Asia Pacific (APAC), & the Middle East and Africa (MEA). Of these, the Americas will have the lions share in the market over the forecast period. Increasing use of advanced technologies coupled with high clinical research and development budgets both by public & private as well as government organizations, are adding to the global medical imaging software market growth in the region. Besides, the increasing patient pool, rising prevalence of various diseases, and the growing geriatric population are also adding market growth.
The global medical imaging software market in Europe is predicted to hold the second-largest share over the forecast period. Growing awareness for early disease detection, robust healthcare infrastructure, increasing diagnostics centers, availability of funds for research, and the presence of strong research & academic space are adding to the global medical imaging software market growth in the region.
The global medical imaging software market in the APAC region is predicted to grow at a fast pace over the forecast period. High growth opportunities for eminent players, improving healthcare infrastructure, and burgeoning demand for software solutions that are technologically advanced are adding to the global medical imaging software market growth in the region.
The global medical imaging software market in the MEA is predicted to have the smallest share over the forecast period. The majority of the market share will be held by the eastern region for the growing initiatives undertaken for the healthcare sector by the government.
Key Players
Leading players profiled in the global medical imaging software market report include IBM Corporation, Fujifilm Holding Company, ScienceSoft USA Corporation, Acuo Technologies, Merge Healthcare Incorporated, MIM Software Inc., AQUILAB, Media Cybernetics, Inc., Pie Medical Imaging, Hologic Inc., Agfa-Gevaert N.V., Siemens Healthineers, and GE Healthcare.
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