Medical Image Analysis Software Market - Global Industry Analysis

Medical Image Analysis Software Market

Medical Image Analysis Software Market Size, Share, Growth, Trends 2028

Category: Medical Device Report Format : PDF Pages: 190 Report Code: ZMR-3313 Published Date: Apr-2022 Status : Published

Medical Image Analysis Software Market

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Imaging has become a vital component in many medical and laboratory research practice. It is being used worldwide in different aspects of life science and healthcare practices. Imaging generates multiple image types and complex data from different imaging tools used in different medical and research applications. Analysis of generated image types often requires sophisticated computerized quantification and visualization tools. Biomedical imaging and image analysis techniques have made significant progress over the last 15 years. Until recently, 3D visualization of images and accurate quantitative analysis was only possible using UNIX workstations and customized software. Nowadays, visualization and analysis can be performed easily on a desktop computer equipped with suitable graphics hardware and software. Extensible platform independent and universal image processing and visualization program principally designed to meet the needs of end users are available in the market. Multiple factors are inducing the growth of global medical image analysis software market such as early diagnosis for better cure facilitated by machine learning system, research specific algorithm to understand patterns & improve drug development, and neural networks supporting diagnosis validation. 

However, the high cost of imaging software, the presence of standalone software vendors, and a lack of skilled professions are hindering the growth of medical image analysis software market. On the other hand, an untapped market in developing countries, technological developments in cloud-based image analysis solutions is expected to offer lucrative opportunities during the forecast period.

Global Medical Image Analysis Software 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.

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, and Siemens Healthineers, among others.

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