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The Medical Image Analysis Software Market Size was valued at USD 3.26 billion in 2023 and is expected to reach USD 6.46 billion by 2032 and grow at a CAGR of 7.9% over the forecast period 2024-2032.
Medical imaging is a science that uses digital imaging techniques to analyze and solve a patient's medical problems. It is actually a method that creates an image of the human body inside, revealing the genetic makeup and functions of certain organs or tissues, which helps in diagnosing and treating diseases. Subsequent diagnosis and treatment of many diseases use a variety of medical imaging techniques, such as computed tomography (CT) scan and magnetic resonance imaging (MRI).
Medical personnel can track, preserve, alter, and manage patient photographs and administrative workflow with the help of medical imaging software. Diagnostic equipment's use of medical image analysis software is crucial since it enhances a picture's qualities, making medical treatment more effective and efficient. Medical data can be stored, viewed, trained on, and shared using this program.
DRIVERS
Medical imaging systems and analytics software have made great strides in technology.
Increasing investment from public and private companies in the medical thought market
Chronic diseases are becoming more common
Computer-assisted diagnostics are widely used
RESTRAINTS
Financial limitations
OPPORTUNITIES
Image analysis tools available in the cloud
Unknown developing markets
CHALLENGES
Vendors of independent software have a market share
Security and regulatory difficulties with software
Radiologists are in short supply
Every industry could experience the detrimental effects of the COVID-19 disruptions. All focus was turned to covid management since the health system was overwhelmed. Consequently, there was a small decline in overall demand.
Nevertheless, during that time, the demand for such software and automated devices has increased. It is anticipated that significant investments made in the health sector by various governments will fuel continued demand development.
By Type
The majority of the market is occupied by standalone software. These programmes are more dependable, safe, and user-friendly. They can analyse and process data with little help from an outside network. During the current projected period, the Standalone software category is also anticipated to exhibit the greatest CAGR.
By Image Type
The greatest market for medical imaging software is 4D imaging. The 3D images of bodily components are provided concurrently with their real-time movements in 4D imaging, which is one of its many benefits. The market for medical imaging software accounted for around 45% of the total. In addition, there is a thriving industry for 3D imaging, which offers affordable 3D images for accurate analysis.
By Modality Type
The largest market sector for various modalities is computed tomography (CT). Through CT, viewers can see a precise image of blood arteries, internal organs, soft tissues, and even bones. Due to its low cost and many application possibilities, radiography comes in second to CT in terms of market share. However, due to its comparatively lower health risk and the more informative data it can produce, ultrasound technology is the market sector with the quickest growth.
By Application
Imaging software is used more frequently in the field of cardiology than in any other. The rise in heart diseases and this fact are related. Additionally, quick advancements in cardiac imaging technology are supporting expansion. Therefore, it is anticipated that the market for medical imaging software would grow at a faster CAGR than the overall industry over the current projection period.
BY End User
Clinics and hospitals, among other end users, drive the majority of demand for imaging software. 40 per cent of the market was accounted for by this sector. This software can significantly improve the productivity of medical staff members and save expenses across the board. As a result, hospitals and clinics are eager to invest in such technologies.
By Type
Integrated Software
Standalone Software
By Image Type
2D imaging
3D imaging
4D imaging
By Modality type
Tomography
Radiographic Imaging
Ultrasound Imaging
Mammography
Combined Modalities
By Application
Cardiology
Orthopedics
Oncology
Neurology
Obstetrics and Gynecology
Mammography
Dental
Respiratory
Urology & Nephrology
By End User
Hospitals
Diagnostic Imaging Centers
The largest portion of global revenue came from North America, which controlled the market. This development is attributable to the availability of established healthcare facilities with cutting-edge diagnostic tools and supportive government programmes for the implementation of healthcare IT in this area. The expansion of the regional market is also being aided by rising R&D expenditures and the presence of important industry competitors. In order to increase patient access globally, MIM Software Inc. launched a partnership with Genesis Care, a global supplier of comprehensive cancer care.
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REGIONAL COVERAGE
North America
USA
Canada
Mexico
Europe
Germany
UK
France
Italy
Spain
The Netherlands
Rest of Europe
Asia-Pacific
Japan
south Korea
China
India
Australia
Rest of Asia-Pacific
The Middle East & Africa
Israel
UAE
South Africa
Rest of Middle East & Africa
Latin America
Brazil
Argentina
Rest of Latin America
Some of the major key players are Agfa-Gevaert Group, ESAOTE SPA, Aquilab SAS., GE Healthcare, Koninklijke Philips N.V., MIM Software, Inc., Spacelabs Healthcare, Merge Healthcare, Inc., Siemens Health ineers, Toshiba Medical Systems Corporation, and other players.
| Report Attributes | Details |
|---|---|
| Market Size in 2023 | US$ 3.26 Billion |
| Market Size by 2032 | US$ 6.46 Billion |
| CAGR | CAGR of 7.9% From 2024 to 2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | • By Type (Integrated Software, Standalone Software) • By Image Type (2D imaging, 3D imaging, 4D imaging) • By Modality type (Tomography, Radiographic Imaging, Ultasound Imaging, Mammography, Combined Modalities) • By Application (Cardiology, Orthopedics, Oncology, Neurology, Obstetrics and Gynaecology, Mammography, Dental, Respiratory, Urology & Nephrology) • By End User (Hospitals, Diagnostic Imaging Centers) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Agfa-Gevaert Group, ESAOTE SPA, Aquilab SAS., GE Healthcare, Koninklijke Philips N.V., MIM Software, Inc., Spacelabs Healthcare, Merge Healthcare, Inc., Siemens Health ineers, Toshiba Medical Systems Corporation, and other players. |
| Key Drivers | • Medical imaging systems and analytics software have made great strides in technology. • Increasing investment from public and private companies in the medical thought market • Chronic diseases are becoming more common |
| Restraints | • Financial limitations |
Ans: The Medical Image Analysis Software Market size was valued at US$ 3.26 billion in 2023.
Ans: The Medical Image Analysis Software Market is growing at a CAGR of 7.9% over the forecast period 2024-2032.
Agfa-Gevaert Group, ESAOTE SPA, Aquilab SAS., GE Healthcare, Koninklijke Philips N.V., MIM Software, Inc., Spacelabs Healthcare are the key players of Medical Image Analysis Software market
The largest portion of global revenue came from North America.
Increasing investment from public and private companies in the medical thought market, Chronic diseases are becoming more common are the key drivers of the Medical Image Analysis Software market
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.1 Introduction
4.3.2 Impact on major economies
4.3.2.1 US
4.3.2.2 Canada
4.3.2.3 Germany
4.3.2.4 France
4.3.2.5 United Kingdom
4.3.2.6 China
4.3.2.7 Japan
4.3.2.8 South Korea
4.3.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Medical Image Analysis Software Market Segmentation, By Type
8.1 Integrated Software
8.2 Standalone Software
9. Medical Image Analysis Software Market Segmentation, By Image Type
9.1 2D imaging
9.2 3D imaging
9.3 4D imaging
10. Medical Image Analysis Software Market Segmentation, By Modality type
10.1 Tomography
10.2 Radiographic Imaging
10.3 Ultasound Imaging
10.4 Mammography
10.5 Combined Modalities
11. Medical Image Analysis Software Market Segmentation, By Application
11.1 Cardiology
11.2 Orthopedics
11.3 Oncology
11.4 Neurology
11.5 Obstetrics and Gynecology
11.6 Mammography
11.7 Dental
11.8 Respiratory
11.9 Urology & Nephrology
12. Medical Image Analysis Software Market Segmentation, By End User
12.1 Hospitals
12.2 Diagnostic Imaging Centers
13. Regional Analysis
13.1 Introduction
13.2 North America
13.2.1 USA
13.2.2 Canada
13.2.3 Mexico
13.3 Europe
13.3.1 Germany
13.3.2 UK
13.3.3 France
13.3.4 Italy
13.3.5 Spain
13.3.6 The Netherlands
13.3.7 Rest of Europe
13.4 Asia-Pacific
13.4.1 Japan
13.4.2 South Korea
13.4.3 China
13.4.4 India
13.4.5 Australia
13.4.6 Rest of Asia-Pacific
13.5 The Middle East & Africa
13.5.1 Israel
13.5.2 UAE
13.5.3 South Africa
13.5.4 Rest
13.6 Latin America
13.6.1 Brazil
13.6.2 Argentina
13.6.3 Rest of Latin America
14. Company Profiles
14.1 Agfa-Gevaert Group
14.1.1 Financial
14.1.2 Products/ Services Offered
14.1.3 SWOT Analysis
14.1.4 The SNS view
14.2 ESAOTE SPA
14.3 Aquilab SAS.
14.4 GE Healthcare
14.5 Koninklijke Philips N.V.
14.6 MIM Software, Inc.
14.7 Spacelabs Healthcare
14.8 Merge Healthcare, Inc.
14.9 Siemens Healthineers
14.10 Toshiba Medical Systems Corporation
15. Competitive Landscape
15.1 Competitive Benchmark
15.2 Market Share Analysis
15.3 Recent Developments
16. Conclusion
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