How much will the Medical Image Analysis Software industry be worth in the Future????
The global medical
image analysis software market
size is expected to reach USD 4.51 billion by 2024, according to a new report
by Grand View Research, Inc., registering an 8.1% CAGR during the forecast
period. Increasing incidence of chronic diseases creates demand for effective
diagnostics solutions, which spurs demand for medical image analysis software.
High growth of the industry is majorly attributed to increase in usage and
uptake of image analysis solutions for diagnosis.
In addition, shifting focus to provide
enhanced care has led to incorporation of various computer aided diagnosis
systems, which is further contributing toward growth. Introduction of
technologically advanced products such as 3D/4D platforms and multimodality
imaging platforms is also presumed to augment growth over the coming years.
Various benefits such as flexibility
and high-resolution images, along with convenient use of multi-modal integrated
workflows, are expected to bolster demand and increase product penetration throughout
the forecast period. Stand-alone platforms are anticipated to witness steady
growth. These platforms are user-friendly and cost less as compared to
integrated solutions. These solutions offer more details and features and are
used by researchers, allowing them to share and access research data and
analyses, thereby enhancing their ability to diagnose, research, monitor, and
treat disorders. For instance, GE healthcare’s ViewPoint 6 (for MFM) is a
standalone software designed for dedicated ultrasound reporting and image
management.
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Further key findings from the report suggest:
·
By type, the integrated medical
image analysis software segment is anticipated to expand at a CAGR of 7.8% from
2016 to 2024
·
On the basis of modality, the
ultrasound segment is projected to ascend at a revenue-based CAGR of 10.5% over
the forecast period
·
The orthopedic segment
dominated the global market by application, accounting for over 40.0% share in
2015
·
By end use, hospitals held the
largest revenue share owing to increasing adoption of these systems for medical
imaging in diagnosis of various diseases
·
Asia Pacific is expected to
show significant growth owing to presence of unmet clinical needs
·
The global market is fragmented
in nature. Companies are witness fierce competition as the industry is
technology driven
·
Strategies implemented by key
players include collaborative agreements, new product launches, and
geographical expansion.
The
global medical image analysis software market size was estimated at USD 2.41
billion in 2016 and is expected to witness a CAGR of 8.1% over the forecast
period. Increase in demand for diagnostic imaging software in fields such as
dental, orthopedics, urology, neurology, and oncology is likely to contribute
toward market growth in the coming years.
Growing
adoption of ultrasound imaging systems to facilitate faster diagnosis,
particularly of chronic diseases, is expected to propel demand. In addition,
continuous developments in the field of imaging technology, such as
computer-aided diagnosis (CAD), is anticipated to bolster demand for these
platforms.
Introduction
of technologically advanced products such as multimodality imaging platforms
and 3D imaging and benefits associated with the use of these systems, such as
high-resolution imaging, convenient use, and flexibility, are contributing to
growing demand.
Hospitals
are the leading end users of these solutions, thanks to introduction of
technologically advanced products and advent of efficient information
management systems. High focus on innovation in medical image analysis has
given rise to certain measures that are being implemented.
Diagnostic
and research centers are expected to emerge as crucial end users as well, owing
to rising demand for efficient solutions for better patient outcomes. These
segments accounted for smaller revenue shares in the market as they commonly
outsource imaging services from hospitals.
Browse Press
Release of this report:
Grand View Research has segmented the
global medical image analysis software market on the basis of software type,
modality, application, end use:
Medical Image Analysis Software Type Outlook (Revenue,
USD Million, 2013 - 2024)
·
Integrated Software
·
Stand-alone Software
Medical Image Analysis Software Modality Outlook (Revenue,
USD Million, 2013 - 2024)
·
Tomography
o Computed Tomography
o Magnetic Resonance Imaging
o Positron Emission Tomography
o Single-Photon Emission Tomography
·
Ultrasound Imaging
·
Radiographic Imaging
·
Combined Modalities
Medical Image Analysis Software Application Outlook
(Revenue, USD Million, 2013 - 2024)
·
Orthopedic
·
Dental
·
Neurology
·
Cardiology
·
Oncology
·
Obstetrics & Gynecology
·
Mammography
·
Urology & Nephrology
Medical Image Analysis Software End-use Outlook
(Revenue, USD Million, 2013 - 2024)
·
Hospitals
·
Diagnostic
·
Research Centers
About Grand View Research
Grand View Research, Inc. is a U.S.
based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, we offer market intelligence studies
ensuring relevant and fact-based research across a range of industries, from
technology to chemicals, materials and healthcare.
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