Pune, Sept. 14, 2022 (GLOBE NEWSWIRE) -- The Global Medical Image Analysis Software Market includes a global opportunity analysis and industry forecasts for the period 2023-2032. The global market was valued at USD 3.19 Billion in 2022, registering a CAGR of 8.35% from 2023 to 2032. The base year considered for the study is 2021, and the forecast has been provided for the period, 2023 to 2032.
Creating a visual representation of a body for use in clinical analysis and medical intervention is referred to as medical imaging. The scanning programme creates photos that are then evaluated after being stored in the computer's memory. The analysis is a procedure to improve the quantitative and image quality. Computer-aided diagnosis, as well as data-driven, optimal image registration and segmentation, are used to carry out the analysis.
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Deep learning techniques are used by medical image analysis software to read and assess images. Because it can sort through hundreds of photos at once, it can manage heavy workloads.
The two main components of medical image analysis software are PACS (Picture Archiving and Communication Systems), which are used to examine, store, and distribute images; and RIS (Radiology Information System), which manages patient information. This programme is employed in the fields of dentistry, orthopaedics, neurology, gynaecology, and respiratory medicine. Intersecting computers, information engineering, electrical engineering, physics, mathematics, and medicine, medical image computing (MIC) is an interdisciplinary field. In this area, computational and mathematical tools are developed to address issues with medical pictures and their application to clinical treatment and biological research. Extraction of therapeutically pertinent knowledge or information from medical images is the major objective of MIC. Although closely related to the field of medical imaging, MIC's primary objective is the computer analysis of the images rather than their capture.
Impact Of Covid-19 On The Medical Image Analysis Software Back Market:
- The market for medical image analysis software has been badly impacted by the ongoing COVID-19 outbreak. Government agencies from all around the world are concentrating on containing COVID-19 with strict measures, such as social exclusion, statewide lockdowns, and extensive quarantine to stop the coronavirus's spread. The clinic appointments were either cancelled or delayed as a result of the coronavirus disease COVID-19 outbreak, which in turn hindered the market's expansion.
- Through cloud-based PACS, radiologists and doctors can access diagnoses, reports, and images from anywhere thanks to cloud-based workstations and mobile applications. As a result, it allows radiologists and doctors to treat patients effectively while reducing the likelihood that they will spread or catch COVID-19.
- The widespread usage of radiology in hospitals has expanded as a result of COVID-19's ability to image infectious diseases and the lungs all over the world.
- The global supply chain disruption has an impact on how medical image analysis software is distributed. As a result, the market for medical image analysis software is directly impacted by this disruption in corporate operations.
Medical Image Analysis Software Market, By Type:
It is projected that standalone platforms will continue to expand steadily. These platforms are more affordable and user-friendly than integrated solutions. Researchers employ these tools, which provide additional information and features, to exchange and access research data and analysis, improving their capacity to identify, study, monitor, and treat illnesses. For instance, View Point 6 (for MFM) by GE Healthcare is a standalone programme made specifically for managing and reporting on ultrasound images.
Medical Image Analysis Software Market, By Images:
- The 4D imaging market share was greater than 45 percent in 2021, representing the largest market share. As a result of technological improvements in 4D imaging technology, which allow for efficient and accurate real-time visualisation of the human body and eliminate distortion in operations, this market segment is anticipated to continue its leadership position throughout the forecast period. Using real-time movement, 4D imaging is a 3-dimensional image analysis.
- Due to the rising usage of these technologies, the markets for 3D and 4D imaging software solutions are predicted to rise at profitable rates during the projected period. Additionally, the adoption of various computer-aided diagnosis methods has resulted from a shift in focus to provide superior treatment, which is further fueling market expansion.
Medical Image Analysis Software Market, By Modality:
- The global market has been further segmented based on modalities into tomography, ultrasound imaging, radiographic imaging, and mixed modalities. Due to its cost-effectiveness, the tomography category accounted for the largest percentage of global sales (33.1%) in 2021.
- CT scanners with a dual source and AI capabilities are anticipated to be significant market turning points. In the upcoming years, it is projected that the release of cutting-edge devices would increase demand for CT imaging software. For instance, in June 2019, ClariPiInc got FDA approval for their "ClariCT.AI" AI-enabled CT scanner. Revenues for radiographic systems came next.
Medical Image Analysis Software Market, By Application:
- In 2021, the cardiology market accounted for the largest share of global revenue, accounting for more than 20% of total revenue. The increasing frequency of cardiovascular and congenital heart conditions and government support to increase treatment accessibility are credited with the surge.
- The U.S. FDA approved the marketing of software in February 2020 to aid medical practitioners in acquiring cardiac ultrasound or echocardiogram pictures. The programme, dubbed Caption Guidance, is a supplement to compatible diagnostic ultrasound devices and makes use of artificial intelligence to assist the user in obtaining cardiac images of a patient that are of normal diagnostic quality.
Medical Image Analysis Software Market, By End User:
The global market has been divided into hospitals, diagnostic facilities, ambulatory surgical centres (ASCs), and others based on end users. In 2021, the hospital sector had the biggest revenue share of more than 36,000%, and it will continue to have a commanding position throughout the projection period. Supportive infrastructure, which is essential for carrying out surgical operations using medical imaging software, is one of the main elements promoting the segment's growth. Hospitals have a larger installed base of diagnostic imaging equipment and solutions than research and diagnostic facilities. Patients are also coming in at a relatively higher rate. The end-use segment remains in the lead as a result.
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Global Medical Image Analysis Software Market, Based On Regional Analysis:
- North America dominated the market in 2021, accounting for more than 37% of global revenue. The existence of well-established healthcare facilities with cutting-edge diagnostic technology and supportive government actions to encourage the adoption of healthcare IT in this region are credited with this increase. Additionally, rising R&D expenditures and the existence of significant market participants are fostering regional market expansion.
- To increase patient access on a global scale, MIM Software Inc. published a collaboration with Genesis Care, a supplier of integrated cancer care globally. Over 400,000 patients are treated for cancer by Genesis Care's clinical staff at more than 440 facilities in Australia, the United States, the United Kingdom, and Spain. Thus, such measures are anticipated to help the expansion of the regional market.
Recent Developments In The Global Medical Image Analysis Software Market:
- In 2022 - In order to grow its international X-ray business, Canon Medical Systems signed a contract to buy the Danish company Nordisk Rontgen Teknik.
- In 2022 - The DRX compass, a precise, practical, and customizable digital radiology solution created to give radiologists a new level of efficiency, was introduced by Carestream Health. The DRX compass's picture view software allows improved cybersecurity.
Some Key Points Of The Medical Image Analysis Software Market Report Are:
- An in-depth global Medical Image Analysis Software market analysis by the segments, along with an analysis of trend-based insights and factors.
- Major companies operating in the global Medical Image Analysis Software market, which include AGFA Healthcare (Belgium), AQUILAB (France), Carestream Health, Inc. (US), Esaote S.p.A (Italy), GE Healthcare (US), Image Analysis (UK), INFINITT Healthcare Co, Ltd. (South Korea), Merge Healthcare, Inc. (US), MIM Software Inc. (US), Mirada Medical Limited (UK), Philips Healthcare (Netherlands), ScienceSoft USA Corporation (US), Siemens Healthineers (Germany), Toshiba Medical Systems Corporation (Japan), and Xinapse Systems Ltd. (UK).
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global Medical Image Analysis Software market.
- Impact of COVID-19 on the global Medical Image Analysis Software market.
Find more insights on this topic from this report, “Medical Image Analysis Software Market, by Type (Standalone), by Images (2D, 3D, 4D), Modality (CT, MRI, PET, Ultrasound), by Application (Orthopedic, Dental, Oncology, Nephrology), by End User (Hospital, Diagnostic Centre, Research), By Region (North America, Europe, Asia Pacific, Middle East & Africa, and South America)”-, Industry Trends, Market Size and Forecasting to 2032
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