Westford,USA, Nov. 19, 2024 (GLOBE NEWSWIRE) -- SkyQuest projects that Medical Image Analysis Software Market will attain the value of USD 5.93 billion by 2031, with a CAGR of 7.8% during the forecast period (2024-2031). The increasing prevalence of the chronic diseases, coupled with increased demand for diagnostic imaging solutions has seen a significant expansion in the market, requiring medical imaging solutions. Healthcare professionals imaging organs at their views, evaluate surgical results closely, and assess tumor size preoperatively magnetic resonance imaging (MRI) & computed Treatment with tomography (CT) imaging is heavily dependent on imaging technology.
The increasing prevalence of the chronic diseases, coupled with increased demand for diagnostic imaging solutions has seen a significant expansion in the market, requiring medical imaging solutions. The main objective of the medical image analysis software market is to provide advanced tools and algorithms that aid in quantitative and qualitative analysis of medical images. These software solutions help detect abnormalities, measure body structure, monitor disease progression, and plan surgery.
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Browse in-depth TOC on "Medical Image Analysis Software Market"
- Pages – 197
- Tables - 63
- Figures – 75
Medical Image Analysis Software Market Overview:
| Report Coverage | Details |
| Market Revenue in 2023 | USD 3.25 Billion |
| Estimated Value by 2031 | USD 5.93 Billion |
| Growth Rate | Poised to grow at a CAGR of 7.8% |
| Forecast Period | 2024–2031 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Type, Image Type, Modality, Application, End User |
| Geographies Covered | North America, Europe, Asia Pacific, Middle East & Africa, Latin America |
| Report Highlights | Updated financial information / product portfolio of players |
| Key Market Opportunities | Growing Emphasis on Cloud-Based Solutions |
| Key Market Drivers | Growing Demand for Accurate and Timely Diagnosis |
Integrated Software Segment to Dominate Due to Increasing Adoption of Integrated Systems
The global medical image analysis software market dominated with the aid of the integrated software segment. The large market share of the integrated solutions can be attributed to the benefits associated with its use. The integrated equipment is designed specifically for radiology applications, with the aim of improving efficiency. An example of such software is Philip's Xcelera Cardiology Information Management, which provides the integrated image management capabilities and facilitates advanced medical services, thereby improving clinical efficiency.
Ultrasound Image Analysis Software Segment to Drive Market Due to Increased Accuracy
The ultrasound image analysis software segment is expected to witness the fastest CAGR in the coming years. This can be attributed to several advantages such as faster analysis and increased accuracy. Furthermore, ultrasound imaging is non-invasive and does no longer contain exposure to ionizing radiation, making it ideal in lots of healthcare programs. These elements have played an important role inside the development of this segment.
North America is Dominating Due to Rising Adoption of Healthcare IT
North America dominated the marketplace with 36.7% sales share in 2023. The growth on this region may be attributed to well-established healthcare centers equipped with advanced diagnostic equipment in offering desirable government guidelines selling adoption of healthcare IT. For example, in January 2022, MIM Software Inc. have announced a partnership with GenesisCare, a global integrated cancer care provider, with the goal of expanding patient access worldwide.
The Asia-Pacific region in the market is expected to grow at a substantial CAGR during the forecast period, owing to the high adoption of medical image analysis software by the healthcare professionals in the region. Increasing awareness of the advantages associated with those systems is a key component predicted to market growth. Furthermore, rising healthcare costs and excessive income levels in countries which include China and India contribute to the growth of the regional market.
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Drivers
- Growing Demand for Accurate and Timely Diagnosis
- Advancements in Imaging Technologies
Restraints
- High Cost of Implementation and Maintenance
- Data Privacy and Security Concerns
Prominent Players in Medical Image Analysis Software Market
The following are the Top Medical Image Analysis Software Market Companies
- IBM Corporation (US)
- General Electric Company (US)
- Philips Healthcare (Netherlands)
- Siemens Healthineers (Germany)
- Agfa-Gevaert Group (Belgium)
- Merge Healthcare (IBM Watson Health) (US)
- MIM Software Inc. (US)
- Canon Medical Systems Corporation (Japan)
- Carestream Health (US)
- McKesson Corporation (US)
- Fujifilm Holdings Corporation (Japan)
- Sectra AB (Sweden)
- Mirada Medical Limited (UK)
- Ziosoft Inc. (Japan)
- Aidence (Netherlands)
- MeVis Medical Solutions AG (Germany)
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Key Questions Answered in Medical Image Analysis Software Market Report
- How big is the Global Medical Image Analysis Software Market?
- What are the key drivers of Global Medical Image Analysis Software Market size?
- Who are the key players in the Medical Imaging Analysis Software Market?
- Which is the fastest growing region in the Medical Imaging Analysis Software Market?
This report provides the following insights:
- Analysis of key drivers (growing demand for accurate and timely diagnosis, advancements in imaging technologies), restraints (high cost of implementation and maintenance, data privacy and security concerns), opportunities (Growing emphasis on cloud-based solutions), influencing the growth of medical image analysis software market.
- Market Dynamics: Comprehensive information about the various products offered by the dominant players in the medical image analysis software market.
- Product Development/Innovation: An overview of emerging trends, R&D activities and product launches in the medical image analysis software market.
- Market Growth: Detailed information on profitable growing industries.
- Market Trends: Complete information about new products, emerging geographical areas and recent developments in the market.
- Competitive Analysis: An in-depth analysis of the market segments, growth strategies, revenue analysis, and products of the key market players.
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