The medicalimage analysis software market is
expected to reach USD 4.5 billion by 2024, according to a new report by Grand
View Research, Inc. The clinical urgency to incorporate medical image analysis
software for the diagnosis of chronic diseases is presumed to fuel the market
growth throughout the forecast period. Moreover, the increased use of
electronic health records to efficiently store, manage, and distribute patient
health information in the form of medical images is also contributing towards
the market growth. Additionally, continuous advancements in the
technology, such as computer-aided diagnosis (CAD) are expected to provide
potential growth opportunities for the utilization of the new and improved
medical image software tools in a wide range of disease application areas
including cancer and urology.
The steady demand for diagnostic and treatment procedures
with greater efficiency have consequentially boosted the industry share of the
medical image analysis software tools with enhanced features. Improved image
quality, high resolution, and multi-modal imaging platforms are the key
associated benefits driving the physician preference, thereby fuelling the
market demand. Furthermore, the incorporation of the software tools facilitates
sharing of medical image records among physicians to facilitate rapid and
accurate treatment delivery, thus the implied demand for the medical image
analysis software systems. These aforementioned factors are expected to drive
the emergence of the medical image analysis software market over the forecast
period.
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Grand View Research : http://www.grandviewresearch.com/industry-analysis/medical-image-analysis-software-market
Further key findings from the study suggest:
·
On the basis of software type, the
stand-alone software segment is anticipated to grow at a lucrative CAGR of over
7.5% over the forecast period due largely to the associated benefits, such as
the systems with a user-friendly interface in use, which eliminates the
requirement of skilled workforce to operate these systems
·
In terms of modality, ultrasound imaging is
expected to register a lucrative growth rate of over 8.9% in the coming eight
years. According to a report by NCBI, the ultrasound imaging segment can detect
around 92.5% of the breast lumps. Moreover, the use of high-frequency radiation
is not involved, thus ensuring patient safety; the high diagnosis efficiency
and patient safety factors are anticipated to further fuel this segment’s
demand.
·
On the basis of applications, the
cardiology segment is expected to register the fastest growth owing to the
rising in corporation of medical imaging systems used for the diagnosis of
cardiovascular diseases (CVDs), such as Merge Cardio, which integrates digital
health records from various cardiology-based modalities thus furnishing
cardiologists with comprehensive patient record files with additional features,
such as remote location access, along with the high prevalence rate of the CVDs
synergistically accelerating the growth of this segment.
·
Diagnostic centers are anticipated to grow
at a lucrative CAGR amongst the end-use market segment as a consequence of the
increasing number of imaging diagnostic labs and the government initiatives in
this direction. For example, Moldovan Ministry of Health along with
International Finance Corporation are trying to attract private sector investors
through public-private partnerships to set up and modernize radiology and
diagnostic imaging.
·
As of 2015, North America dominated the
regional medical image analysis software market at over 33.0%as a result of the
presence of leading industry players and the supportive reimbursement policies.
The rising government funding directed towards improving the imaging facility
is also a prime growth driver for this regional market.
·
Asia Pacific is expected to be growing at
the fastest CAGR of over 9.0% during the forecast period due to the rising
penetration of the medical imaging systems in fast emerging economies of the
Asia pacific region, such as China and India, investments in the healthcare
industry, high R&D intensity by the major market players, and the presence
of untapped opportunities
·
Some key players catering to this industry
are Philips Healthcare, Siemens Healthineers, Toshiba Medical Systems
Corporation, ClaroNav, Inc., GE Healthcare, Agfa Gevaert Corporation, Spacelabs
Healthcare, Inc., Aquilab GmbH, MIM Software, Inc., Merge Healthcare, Inc.,
Carestream Health, Inc., Esaote, Inc., Bruker Corporation, and Xinapse Systems
Ltd.
·
These market players are adopting
strategies, such as technological innovation, new product development, and
strategic collaborations as well as mergers & acquisitions to maximize
their industry share. In August 2015, GE Healthcare received an FDA approval
for its low dose Computed Tomography for lung cancer screening thereby
expanding its product portfolio.
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Grand View Research has
segmented the medical image analysis software market on the basis of software
type, modality, application, end-user, and region:
Global medical
image analysis software, software type outlook (Revenue, USD Million, 2013 -
2024)
·
Integrated Software
·
Stand-alone Software
Global
medical image analysis software modality outlook (Revenue, USD Million, 2013 -
2024)
·
Tomography
o
CT (Computed Tomography)
o
MRI (Magnetic Resonance Imaging)
o
PET (Positron Emission Tomography)
o
SPET (Single-Photon Emission Tomography)
·
Ultrasound Imaging
·
Radiographic Imaging
·
Combined Modalities
Global medical
image analysis software application outlook (Revenue, USD Million, 2013 - 2024)
·
Orthopedic
·
Dental
·
Neurology
·
Cardiology
·
Oncology
·
Obstetrics & Gynecology
·
Mammography
·
Urology & Nephrology
Global medical
image analysis software end-use outlook (Revenue, USD Million, 2013 - 2024)
·
Hospitals
·
Diagnostic Centers
·
Research Centers
Medical
image analysis software regional outlook (Revenue, USD Million, 2013 - 2024)
·
North America
o
U.S.
o
Canada
·
Europe
o
UK
o
Germany
·
Asia Pacific
o
Japan
o
China
o
India
·
Latin America
o
Mexico
o
Brazil
·
MEA
o
South Africa
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report by Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-image-analysis-software-market
About Grand View Research
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Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
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