Medical Image Analysis Software Market Is Anticipated To Grow Hastily Due To Technological Advancements In The Revolutionary 3D Imaging Till 2024: Grand View Research, Inc.
The medical image 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.
North America medical image
analysis software market, by modality, 2013-2024 (USD Million)
Browse full research report on
Medical
Image Analysis Software Market
Further key findings from
the report 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.
About Grand View Research,
Inc:
Grand View Research, Inc. is a U.S. based market research and consulting
company, registered in the State of California and headquartered in San
Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
business decisions, the company offers market intelligence studies ensuring
relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
For more information: http://www.grandviewresearch.com
Comments
Post a Comment