The demand for medical imaging software has increased due to rise in the cases of chronic diseases and health conscious people globally. The medical imaging technology and computer aided diagnosis have changed the diagnosis patterns around the world, and made it more rapid for diagnosing the medical condition of the patient, so that he/she can get proper treatment early as possible. Moreover, factors like public and private sector investments have also contributed to the growth in medical imaging analysis software market, and with more advancements in the technology with artificial intelligence, it is expected to drive the demand over the forecast period. The Global Medical Image Analysis Software market was valued at USD 3.07 billion in 2021 and it is predicted to reach USD 5.49 billion by 2030, rising at a compound annual growth rate (CAGR) of 7.5 % from 2022 to 2030.
COVID-19 pandemic saw a demand surge for medical imaging analysis software, as it was necessary to monitor the lung condition of the patient with CT scan. According to Siemens India, around 50% of its customers were first time buyers, out of which 30% were adding up CT scan machines for COVID 19.
Years Considered for the study:
Medical Image Analysis Software Market
Integrated software is widely used in the market, because of its several key advantages that includes reactivity, mobility, flexibility, and efficiency. Integrated software allows to react quickly, to access the data across multiple devices 24/7, and enhances the workflow. Standalone software is also expected to witness a steady growth, as they cost less than integrated software and are user friendly. The main advantages of standalone software is that it takes less expertise to use and can also be used offline.
The 2D imaging techniques are still used today, even though there are technological advancements in 3D imaging, because of its low cost, higher resolution and lower radiation with 2D imaging. The 3D imaging provides enlarged image of the interior body for medical monitoring and analysis. It includes output from Ultrasound, MRI, and CT scan. 3D imaging can be reviewed quickly with less human error.
The various applications of medical image analysis software are segmented into Cardiology, dental, oncology, mammography, urology & nephrology, orthopedic, neurology, obstetrics & gynecology. The cardiology segment is leading in the market globally, the growth is linked with the rise in heart related diseases and technological innovations in diagnosing and monitoring the medical condition with several imaging tests.
The tomography segment is leading with the largest market share, the growth is linked with the low cost and the large number of diseases that can be diagnosed with tomography. This segment is expected to grow further at a greater rate over the forecast period. The ultrasound segment is projected to witness the fastest growth in all of the modalities due to its faster and accurate analysis. Moreover, it does not have any radiation linked with the process.
By End User:
The hospital segment is leading with the largest share in revenue and it will lead over the forecast period. The larger share of the segment is linked with the availability of imaging systems for the patients at hospitals. Other segments like diagnostic centers lacks the number of patients and availability of imaging systems as compared with the hospitals. Furthermore, The ASC segment is projected to grow at a faster CAGR due to its cost effectiveness. The ambulatory surgery centers are those, where the patient is expected to go home on the same day of his surgery.
By Regional Outlook:
The North America is leading the market and holds the largest share. This growth is linked with the availability of healthcare facilities with more advanced imaging systems in the region. Moreover, surge in R&D of medical image analysis software is also contributing to the growth in the North American region.
The Asia Pacific region is also witnessing growth in the market, as the standard of living and awareness about regular health checkups through medical imaging software is increasing in countries like China and India. This region is expected to have a steady growth in CAGR over the forecast period.
By Key Competitors and Market Share Analysis:
As a result, leading firms are focused on maintaining long-term operations and investing more in Research & Development to increase their market position.
The following are some of the major market players operating across the globe:
- Toshiba Medical Systems Corp.
- Bruker Corp.
- Xinapse Systems Ltd.
- Esaote, Inc.
- ClaroNAv, Inc.
- Merge Healthcare Inc.
- Aquilab GmbH
- Spacelabs Healthcare, Inc.
- MIM Software Inc.
- Carestream Health, Inc.
- Agfa-Gevaert Corp.
- Philips Healthcare
- Siemens Healthineers
- GE Healthcare
Scope of the report
|Actual estimates/Historical data||2017 - 2020|
|Forecast period||2022 - 2030|
|Market representation||Revenue in USD 5.49 billion & 7.5% CAGR from 2022 to 2030|
|Regional scope||North America, Europe, Asia Pacific, Latin America, MEA|
|Country scope||USA, Canada, Mexico, Brazil, Argentina, U.K., Germany, Italy, France, Spain, China, Japan, South Korea, India, Australia, Saudi Arabia, Qatar, UAE, South Africa, etc.|
|The Segment covered by||Product, Application, Modality|
|Companies covered||Toshiba Medical Systems Corp., Bruker Corp., Xinapse Systems Ltd., Esaote, Inc., ClaroNAv, Inc., Merge Healthcare Inc., Aquilab GmbH, Spacelabs Healthcare, Inc., MIM Software Inc., Carestream Health, Inc., Agfa-Gevaert Corp., Philips Healthcare, Siemens Healthineers, GE Healthcare|
|Report coverage||Revenue forecast, company share, competitive landscape, growth factors, and trends|
|Free customization scope (equivalent to 5 analyst working days)||If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of the customization|
Significant Highlights of the Medical Image Analysis Software Market Research Report:
- The Report Provides the CAGR of the market during the forecast period 2022-2030.
- Detailed analysis and information on factors that will drive Medical Image Analysis Software market growth during the next five years.
- Accurate predictions on the latest and upcoming trends, changes in consumer behavior.
- The growth of the Medical Image Analysis Software market industry across North America can be segmented into the U.S., Canada. Europe is segmented into Germany, the UK, France and the Rest of Europe. The Asia Pacific comprises China, Japan, India, and the Rest of Asia Pacific. The rest of the world has been further segmented into Latin America and the Middle East and Africa.
- A detailed analysis of the markets competitive landscape and in-depth analysis and information on the market.
- Comprehensive details of factors that will challenge the growth of the Medical Image Analysis Software market.
- The report analyses all the recent major developments and helps users of the report with current industry updates.
- We calculate market size such as Historical and forecast the size of the Medical Image Analysis Software market in terms of Revenue (USD Million).
- Market opportunity analysis for specific demography.
- Privately held or very small players profiling in the global marketplace.
- DLF Data Analytics Model is a statistical tool that helps the company to forecast market estimates. A few of the parameters considered as a part of the statistical model include:
- Micro-economic indicators
- Macro-economic indicators
- Environmental indicators
- Socio-political indicators
- Technology indicators
The Key Audiences for Medical Image Analysis Software Market Report:
- Consulting Firms & Research Institutes
- Industry Leaders & Companies aims to enter the Medical Image Analysis Software market
- Universities and Student
- Service Providers, Product Providers, Solution Providers, and other players in the Medical Image Analysis Software market
- Government Bodies and Associated Private Firms
- Individuals interested to learn about the Medical Image Analysis Software market
Segments Covered in the Report
This report forecasts revenue growth at the global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2021 to 2030. For the purpose of this report, Data Lab Forecast has segmented the global Medical Image Analysis Software Market report on the basis of Product, Application, Modality, and region:
The report segment of the global Medical Image Analysis Software market is as follows:
Global Medical Image Analysis Software Market: By Product Outlook (Revenue, USD Million, 2021 - 2030)
Global Medical Image Analysis Software Market: By Application Outlook (Revenue, USD Million, 2021 - 2030)
Global Medical Image Analysis Software Market: By Modality Outlook (Revenue, USD Million, 2021 - 2030)
Global Medical Image Analysis Software Market: By Region Outlook (Revenue, USD Million, 2021 - 2030)
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- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- The Middle East and Africa
- GCC Countries
- South Africa
- Rest of The Middle East & Africa