CHICAGO, Feb. 13, 2023 (GLOBE NEWSWIRE) -- Data Bridge Market Research completed a qualitative study titled "Medical Imaging Software Market" with 100+ market data tables, pie charts, graphs, and figures spread across Pages and an easy-to-grasp full analysis. A significant Medical Imaging Software Market research report emphasizes key market dynamics of the Medical Imaging Software industry and covers historic data, present market trends, environment, technological innovation, upcoming technologies, and the technical progress in the related industry. Global market analysis report proves to be a precious source of information with which businesses can achieve a telescopic view of the current market trends, consumer demands and preferences, market situations, opportunities, and market status. To build a Medical Imaging Software business report, a detailed market analysis has been performed with inputs from industry experts. All the data, figures, and information is backed up by well-recognized analysis tools which include the SWOT analysis and Porter’s Five Forces analysis.
Data Bridge Market Research analyses that the medical imaging software market which was USD 6.24 billion in 2022, is expected to reach USD 11.12 billion by 2030, at a CAGR of 7.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
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Medical imaging software is a component of healthcare ces worldwide that employs cutting-edge software, technological advancements, and cutting-edge equipment to acquire or generate graphical representations of the interior of a body for diagnosis, clinical analysis, and medical intervention. The devices equipped with medical imaging software aid in the diagnosis of tumours and, as well as in the visual representation of the function of certain organs or tissues.
According to the WHO, breast cancer is the most common cancer among women, affecting 2.1 million women each year and accounting for the majority of cancer-related deaths among women. Breast cancer was estimated to kill 627,000 women in 2018, accounting for approximately 15% of all cancer deaths in women. While breast cancer rates are higher among women in more developed regions, rates are increasing in nearly every region worldwide.
Factors influencing the Medical Imaging Software Market Size and growth rate.
- Major alterations to the Medical Imaging Software Market in the near future.
- Notable Market rivals around the world.
- The Medical Imaging Software Market's Future Scope and Product Outlook
- Future-promising emerging markets.
- The Market Presents Difficult Challenges and Threats.
- Sales data and profiles of the world's leading Medical Imaging Software players
Some of the major players operating in the Medical Imaging Software Market are
- Koninklijke Philips N.V. (Netherlands)
- RamSoft, Inc. (Canada)
- InHealth Group (U.K.)
- Radiology Reports online (U.S.)
- Siemens (Germany)
- Sonic Healthcare Limited (Australia)
- RadNet, Inc. (U.S.)
- General Electric (U.S.)
- Akumin Inc. (U.S.)
- Hologic Inc. (U.S.)
- Shimadzu Corporation (Japan)
- Shenzhen Mindray Bio-Medical Electronics Co., Ltd. (China)
- CANON MEDICAL SYSTEMS CORPORATION (Japan)
- Carl Zeiss Ag (Germany)
- FUJIFILM Corporation (Japan)
- Hitachi, Ltd. (Japan)
- MEDNAX Services, Inc. (U.S.)
- Carestream Health (U.S.)
- Teleradiology Solutions (U.S.)
- UNILABS (Switzerland)
- ONRAD, Inc. (U.S.)
Recent Developments
- In 2021, Philips announced the launch of an AI-enabled MR imaging portfolio, aiming to improve radiology operations' efficiency and sustainability by speeding up MR exams. Such technological advancements are said to exponentially boost the market growth.
- In 2019, Canon was awarded the U.S. Patent and Trademark Office. FDA approval for its Advanced Intelligent Clear-IQ Engine (AiCE), an artificial intelligence (AI) technology for use with its Aquilion Precision scanner. The technology aids in achieving precision diagnostics without increasing the dose.
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A comprehensive analysis will be provided covering the following points in the report:
- Executive Market Summary
- Scope of the Medical Imaging Software Report
- Key Findings and Recommendations
- Growth and Investment Opportunities
- Medical Imaging Software Market Value Chain/Supply Chain Analysis
- Medical Imaging Software Market Attractive Investment Proposition
- Competitive landscape and SWOT Analysis
- Regional Outlook
- Company Profiles of Key Players
Porter’s five forces model in the report provides insights into the competitive rivalry, supplier and buyer positions in the market, and opportunities for the new entrants in the global Medical Imaging Software market over the period. Further, the Growth Matrix given in the report brings insight into the investment areas that existing or new market players can consider.
Drivers
- Rising prevalence of lifestyle-related diseases
The rising prevalence of lifestyle-related disorders, increasing demand for early detection tools, technological advancements to reduce time period, increased government investment and reimbursement initiatives, and expansions of new facilities by market players in developing countries are expected to drive market growth. For instance, in June 2021, the Indian government launched X-Ray Setu, a free Artificial Intelligence (AI)-based platform designed to assist doctors with early COVID-19 interventions. Siemens Healthineers opened a new CT scanner production unit in India in 2022 to meet the growing demand for CT scanners and strengthen its market position.
- Increasing demand for cutting-edge imaging modalities
The increasing demand for cutting-edge imaging modalities by teaching hospitals and universities to provide advanced technology training is expected to significantly impact market growth during the forecast period. Furthermore, the use of AI to automate image quantification and identification is expected to drive market growth. For instance, Google's AI platform, Deepmind, collaborated with Moorfields Eye Hospital to read all optical CT scan eye scans to ensure early detection of age-related macular degeneration. Furthermore, the introduction of 3D MRI and CT scans allows radiologists to analyse scans more quickly, reducing analysis time and improving efficacy.
Opportunities
- Advancements in imaging technology
Continuous advancements in imaging technology, such as Computer-aided Diagnosis (CAD), are expected to boost demand for the medical imaging and radiology software market. This computer-aided diagnosis (CAD) method aims to provide a method of data interpretation using computerised software. Computer-aided Diagnosis combines image processing, computer vision, mathematics, physics, and statistics into computerized techniques that aid radiologists in analysing and making decisions. Image enhancement, initial detection, and image feature extraction, including segmentation, are all steps in CAD imaging or image analysis. The rising prevalence of chronic diseases such as orthopaedic disorders, cardiovascular diseases, and cancer creates a demand for effective diagnostics solutions, which drives up demand for medical imaging software.
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Key Market Segments Covered in Medical Imaging Software Industry Research
Imaging Type
- 2D Imaging
- 4D Imaging
Application
- Dental Applications
- Orthopedic Applications
- Cardiology Applications
- Obstetrics and Gynecology Applications
- Mammography Applications
- Urology and Nephrology Applications
End-User
- Hospitals
- Diagnostic Centers
Medical Imaging Software Market Regional Analysis/Insights
The countries covered in the medical imaging software market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the medical imaging software market because of improved healthcare infrastructure, increased awareness, advanced facilities, greater technological penetration, and increased citizen spending on healthcare.
Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2023 to 2030 owing to the rising administration initiatives for enhancing healthcare infrastructure.
Table of Contents:
- Introduction
- Market Segmentation
- Executive Summary
- Premium Insights
- Global Medical Imaging Software Market: Regulations
- Market Overview
- Global Medical Imaging Software Market, By Imaging Type
- Global Medical Imaging Software Market, By Application
- Global Medical Imaging Software Market, By End-User
- Global Medical Imaging Software Market, By Region
- Global Medical Imaging Software Market: Company Landscape
- SWOT Analyses
- Company Profile
- Questionnaires
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