The medical image analysis software offers analytical solutions for medical problems by using different image analysis techniques and the image modalities. The medical image analysis software helps to read, store and share the clinical images with more efficiently and in an easier way. The medical image is the process of creating a visual representation of the interior body for the medical analysis. There are basically two types of medical image analysis software
1. Standalone Software
Standalone is the offline software which can run separately as a computer process. This software runs on the standalone program which does not load on any external or the library function.
2. Integrated software’s
This is the software use the physical and virtual components which are integrated together to form the organized system. This is the online system used to process the collected image.
Figure 1: Global Medical Image Analysis Software Market by Value 2015 - 2023
The data accuracy is the most important concern for the healthcare sector. The diagnosis is done by using the collected data which is responsible to fix the patients course of treatment. The medical image analysis software is read and store the clinical data in a very efficient manner. The demand for medical image analysis software in various fields such as cardiology, orthopedics, oncology, urology, neurology and other is rising rapidly. The factors such as increased occurrence of chronic diseases and the technological advancements in the medical imagining are driving the market of medical image analysis software.
In addition, growing healthcare infrastructure, rising government support, introduction new and advanced technologies such as 3D, 4D, ultrasonic and so on is expected to boost the growth of over the forecast period. However, the adoption of the medical image analysis software is slow in the emerging regions and the setup cost associated with medical image analysis is high which is expected to restrain the market growth in upcoming years. Moreover, ongoing research on radiology technology and the increasing awareness of chronic diseases among the population is projected to create more opportunities in the upcoming years.
Geographically, North America is expected to hold the largest share due to the high generic population and the adoption of medical image analysis software owing to the huge presence of medical imagining centers. The Asia-pacific is expected to be the fastest growing region in the market.
The vigorous completion among the leading player is likely to boost the growth in the market. Collaboration and acquisition are the key strategies among the leading player to maintain their position and brand image in the market. For instance, in 2017 Israeli medical imaging analysis software company DiA Imaging Analysis has signed a multi-year, non-exclusive licensing and professional services agreement with GE Healthcare.
The report on global medical image analysis software market covers the segments based on software type, image type, modality, application, and end user. The software type of medical image analysis software includes standalone software and integrated software. The image type segment includes 4D imaging, 3D imaging, and 2D imaging. On the basis of modality the global medical image analysis software market is segmented as radiographic imaging, combined modalities, tomography, and ultrasound imaging and magnetic resonance imaging (MRI). the application segment includes cardiology applications, orthopedic applications, oncology applications, urology and nephrology applications, dental applications, mammography applications, neurology, obstetrics and gynecology applications. On the basis of end-user diagnostic centers, hospitals, and research centers.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section, the key trends and market size for each geography are provided over the period of 2017 – 2023.
Figure 2: Global Medical Image Analysis Software Market by Region
Globally, North America market dominated the world medical image analysis software market followed by Europe and Asia-Pacific. Furthermore, the Asia Pacific market is expected to grow at the highest CAGR over the forecast period 2017-2023. Due to government initiatives for the modernization of healthcare infrastructure, growth in the number of new and advanced products being launched in emerging Asian countries
The report provides profiles of the companies in the global medical image analysis software market such as MIM Software Inc., AGFA Healthcare, Siemens Healthcare, Aquilab, Esaote S.p.A, GE Healthcare, Merge Healthcare, Inc., Carestream Health, Inc., Philips Healthcare, and Toshiba Medical Systems Corporation.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights on the factors that are driving and restraining the global medical image analysis software market. Moreover, IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of medical image analysis software market. Moreover, the study highlights current market trends and provides forecast from 2017 to 2023. We also have highlighted future trends in the medical image analysis software market that will impact the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players. Additionally, the analysis highlights rise and fall in the market shares of the key players in the market.
This report will help manufacturers, suppliers, and distributors of the medical image analysis software market to understand the present and future trends in this market and formulate their strategies accordingly.