Medical Image Analysis Software Market size is projected to experience significant growth from 2019 to 2025. Increasing advancement in medical imaging to provide better results will drive medical image analysis software market. Medical imaging software creates a visual and immersive environment, that enable health experts to provide better treatment and services to patients. Industry players focus on offering various software-enabled solutions that provide accurate results. For instance, ScienceSoft provides medical image analysis solution that reduces clinical errors by providing 3D medical images. Thus, increasing adoption of virtual reality software can augment industry growth.
Growing use of real-time imaging in cardiology, oncology, gynecology and neurology especially for imaging organ from different orientations increases the demand for medical imaging devices. Moreover, preference for minimally invasive therapies among patients is growing rapidly in recent years. Patients are opting for non-invasive imaging techniques and surgeries due to benefits such as reduced morbidity and fast recovery. Aforementioned factors will thus augment business growth over the forecast period.
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Software segment held considerable share in 2018 due to growing advances in medical imaging. Emerging imaging software offer high performance graphics computing and provide greater resolutions than non-immersive software. Doctors prefer medical image analysis software in disease diagnosis as it enables clinical and quantitative analysis of medical images. Moreover, increasing usage of this software in surgeries to obtain complete analysis of physiological conditions will favor segment growth. Thus, growing adoption of advanced software among healthcare providers will foster the segmental growth.
Diagnostic ultrasound imaging segment will show lucrative growth during the analysis timeframe. Increasing adoption of diagnostic procedures will surge the demand for diagnostic tools. According to Advanced Medical Technology Association, every year 7 billion diagnostic tests are performed in the U.S. Analysis tools in diagnostic test provide better understanding of diseases. For instance, radiological imaging is used to produce a simulated 3-D reconstruction of organs that have become an important diagnostic tool providing healthcare expert with a more naturalistic view of patient’s anatomy. Thus, increasing diagnostic tests along with technological advancement in diagnostic tools will spur the segmental growth.
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Cardiology segment will grow substantially over the analysis timeframe. Rising use of cardiac ultrasound imaging for routine diagnosis owing to its high accessibility, low cost and absence of ionizing radiation will drive industry growth over the forecast period. Rising use of 4D and doppler ultrasound to evaluate cardiac morphology and certain functional aspects along with several technical advances in doppler ultrasound imaging will boost the industry size. Rising development in technologies and potential benefits associated with the device to optimize cardiac diagnosis will spur the business revenue.
Hospital segment will show lucrative growth during the analysis timeframe. Rising use of ultrasound as an integral part of diagnosis and follow-up of several diseases in hospitals will augment the segmental growth. Growing adoption of such cost-effective, quick and time-saving methods for initial or final diagnosis will drive the medical image analysis software market growth. Increasing demand for appropriate management and further assessment will boost the industry size. Moreover, ability of this software to allow doctors to analyze medical data at any point of time will increase its adoption during the analysis timeline.
U.S. dominated North America medical image analysis software with significant revenue share in 2018. Extensive R&D activities by industry players leading to development of innovative medical imaging tools will drive the industry growth. Strong foothold of key industry players in the market will further spur the regional medical image analysis software market growth.
Eminent industry players in medical image analysis software market are AQUILAB, Carestream Health, AGFA Healthcare, Esaote, GE Healthcare, Siemens Healthineers, Toshiba Medical Systems, ScienceSoft and Xinapse Systems. Industry players focus on innovative product launch as their main strategies as well as mergers and acquisitions to expand existing product portfolio and capture high market share. For instance, in November 2017, GE Healthcare signed an agreement with DiA Imaging Analysis, a medical imaging analysis software company to broaden its business portfolio.
- Carestream Health
- AGFA Healthcare
- GE Healthcare
- Siemens Healthineers
- Toshiba Medical Systems
- Xinapse Systems