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A recent report published by Infinium Global Research on the medical image analysis software market provides an in-depth analysis of segments and sub-segments in the global as well as regional medical image analysis software market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional medical image analysis software market over the short term as well as the long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the global medical image analysis software market. According to the report, the global medical image analysis software market is projected to grow at a CAGR of 8% over the forecast period of 2022-2028.
The value of the medical image analysis software market in 2021 was USD 4 billion and is expected to reach USD 6 billion in 2028. Medical image analysis software offers analytical solutions for medical problems by using different image analysis techniques and image modalities. The medical image analysis software helps to read, store and share clinical images more efficiently and in an easier way. The medical image is the process of creating a visual representation of the interior body for medical analysis. There are basically two types of medical image analysis software. There are basically two types of medical image analysis software, Standalone Software, and Integrated Software. Standalone is offline software that can run separately as a computer process. This software runs on the standalone program which does not load on any external or library function. While Integrated software uses the physical and virtual components which are integrated together to form an organized system. This is the online system used to process the collected image.
The global coronavirus 2019 (COVID-19) pandemic had a significant impact on radiology procedures. Independent of COVID-19, policy actions to restrict disease spread reduced the necessity for imaging independent of the covidi19. The amount of relevant medical imaging that may be safely performed is reduced as a result of hospital preparations to boost capacity for handling the covid-19. COVID-19 has had a big impact on the world's health systems. COVID-19 has resulted in a considerable drop in radiology volumes. The overall drop in radiology volumes was influenced by the location, imaging modality, and lockdown stage/period. These adjustments had the greatest impact on outpatient practices, although all imaging volumes fell at the same time. The management of covid-19 impacted patients consumed a large percentage of healthcare resources, especially imaging instruments and image analysis software. Thus, the demand for medical image analysis software fluctuated during the covid-19 pandemic. 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 patient's course of treatment. The medical image analysis software is read and stores 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 others is rising rapidly. The factors such as the increased occurrence of chronic diseases and the technological advancements in medical imagining are driving the market for medical image analysis software. In addition, growing healthcare infrastructure, rising government support, and the introduction of new and advanced technologies such as 3D, 4D, ultrasonic, and so on are expected to boost the growth 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 are 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 imaging centers. The medical technology in North America is advanced with thousands of medical imaging processes taking place each day. These medical imaging processes are conducted for the diagnosis of diseases, disorders, health conditions, medical research, and others. In order to obtain the best results, medical image analysis software is used on large scale in these medical imaging processes. Asia-pacific is expected to be the fastest-growing region in the market. Medical imaging technology is advancing rapidly in Asia-pacific and also IT ecosystem is actively being assimilated into the healthcare industry in Asia-Pacific.
The report on the global medical image analysis software market covers segments such as software type, image type, modality, applications, and end user. On the basis of software type, the sub-markets include standalone software and integrated software. On the basis of image type, the sub-markets include 4D imaging, 3D imaging, and 2D imaging. On the basis of modality, the sub-markets include radiographic imaging, combined modalities, tomography, and ultrasound imaging. On the basis of applications, the sub-markets include cardiology applications, orthopedic applications, oncology applications, urology and nephrology applications, dental applications, mammography applications, neurology, and obstetrics and gynecology applications. On the basis of end user, the sub-markets include diagnostic centers, hospitals, and research centers.
The report provides profiles of the companies in the 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, Toshiba Medical Systems Corporation, and Others.
The report provides deep insights
into demand forecasts, market trends, and micro and macro indicators. In
addition, this report provides insights into the factors that are driving and
restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis
given in the report brings 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 the medical image analysis software market. Moreover, the study
highlights current market trends and provides forecasts from 2022-2028. We also
have highlighted future trends in the market that will affect the demand during
the forecast period. Moreover, the competitive analysis given in each regional
market brings insight into the market share of the leading players.
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