Medical Image Analysis Software Market Is Predicted To Grow Swiftly Due To Increased Use Of Electronic Health Records To Efficiently Store 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)
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research report on Medical Image Analysis Software Market: http://www.grandviewresearch.com/industry-analysis/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.
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reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
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
- CT
(Computed Tomography)
- MRI
(Magnetic Resonance Imaging)
- PET
(Positron Emission Tomography)
- 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
- U.S.
- Canada
- Europe
- UK
- Germany
- Asia
Pacific
- Japan
- China
- India
- Latin
America
- Mexico
- Brazil
- MEA
- South
Africa
Access
Press Release By Grand View Research: http://www.grandviewresearch.com/press-release/global-medical-image-analysis-software-market
About Grand
View Research:
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, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.
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