Global Medical Image Analysis Software Market Will Reach USD 4.48 Billion By 2024: Zion Market Research

According to the report, global medical image analysis software market was valued at approximately USD 2.70 billion in 2017 and is expected to reach around USD 4.48 billion by 2024, growing at a CAGR of 8.3 % between 2018 and 2024.

New York, NY, Sept. 07, 2018 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “Medical Image Analysis Software Market by Software Type (Integrated and Stand-alone), By Modality (Tomography, Ultrasound Imaging, Radiographic Imaging, and Combined Modalities), By Application (Orthopedic, Dental, Neurology, Cardiology, Oncology, Obstetrics & Gynecology, Mammography, and Urology & Nephrology) and By End-Use (Hospitals, Diagnostic, and Research Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2024”. According to the report, global medical image analysis software market was valued at approximately USD 2.70 billion in 2017 and is expected to reach around USD 4.48 billion by 2024, growing at a CAGR of 8.3 % between 2018 and 2024.

Early detection of a disease is essential to take appropriate medical care. Medical imaging techniques are widely used for accurate diagnosis of diseases pertaining to cardiology, orthopedic, neurology, and others. With rising global disease burden demand for quality, healthcare is on the rise. To cope up with it, medical device manufacturers, researchers, and innovators have to excel at their services and reduce preventable clinical errors and misdiagnosis cases. The image analysis software market is providing sophisticated technological support to researchers and medical professionals to tackle the complex challenges which occur in analyzing the imaging data. Different imaging software’s are available in the market which is proving beneficial for the proper diagnosis and prognosis of the relevant medical condition.

Browse through 53 Tables & 17 Figures spread over 110 Pages and in-depth TOC on “Global Medical Image Analysis Software Market Size 2018: By Industry Type, Share, Growth, Analysis, and Forecast, 2024”.

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Primary factors responsible for the growth of medical image analysis software market are the prevalence of chronic diseases, the growing adoption of computer-aided diagnostic methods, and improving healthcare infrastructure across several emerging economies. However, high costs of software and a dearth of skilled professionals are restraining the growth of the global medical image analysis software systems market. 

By software type, the global medical image analysis software market is divided into integrated and stand alone. Among these two segments, standalone software segment is expected to account for the largest share of the market. The standalone software segment offers user-friendly tools to accurately analyze, evaluate, and process the imaging data thus widely being adopted in the market.

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On the basis of modality, the global medical image analysis software market is divided into tomography, ultrasound, radiographic imaging, and combined modalities. On the basis of application, the market is divided into cardiology, orthopedic, neurology, oncology, dental, obstetrics & gynecology, mammography, and urology & Nephrology. The cardiology segment dominated the market and accounted for the largest share in 2017. The outsized share of this segment is primarily credited to the prime factors such as advancements in cardiac imaging technologies and the growing number of cardiac imaging checkups due to the growing incidence of heart disorders. The orthopedic segment is expected to grow at the highest CAGR during the forecast period.

Based on the end user segment, the global medical image analysis software market is segmented into hospitals, diagnostics centers, research centers, and others. The diagnostics and research segments accounted for a maximum share from the end-user segment.

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North America was the leading region in medical image analysis software market with more than 40% of the market share. The U.S. was leading segment with the highest growth rate due to the presence of advanced medical facilities and improved healthcare infrastructure. Factors such as trends toward higher treatment standards, rapidly increasing geriatric population, high prevalence of chronic diseases, presence of large number of imaging centers, faster adoption of technologically advanced imaging systems are driving the growth of medical image analysis software market. Growing need of imaging in critical medical conditions owing to growing potential diseases is a driving factor.

Europe medical image analysis software market is growing at a very healthy rate and it will be one of the key markets for medical image analysis software globally, representing roughly 30% of global revenues in 2017. The medical image analysis software market in Europe is the largest, especially in Germany with a high number of medical facilities and a better healthcare infrastructure. In the forecast period, it is expected to generate new opportunities for medical image analysis software market.

Browse the full "Medical Image Analysis Software Market by Software Type (Integrated and Stand-alone), By Modality (Tomography, Ultrasound Imaging, Radiographic Imaging, and Combined Modalities), By Application (Orthopedic, Dental, Neurology, Cardiology, Oncology, Obstetrics & Gynecology, Mammography, and Urology & Nephrology) and By End-Use (Hospitals, Diagnostic, and Research Centers): Global Industry Perspective, Comprehensive Analysis and Forecast, 2018 – 2024" report at https://www.zionmarketresearch.com/report/medical-image-analysis-software-market

Asia Pacific is an emerging region for medical image analysis software market and is expected to grow at a lucrative rate during the forecast period. China and India dominated the Asia Pacific medical image analysis software market. The market is strongly driven by the increasing number of diagnostic procedures across all diagnostic imaging modalities. In Japan, there is a huge demand for image analysis software as Japan’s market includes high levels of healthcare expenditure and a massive elderly population. Nearly one in three Japanese citizens are older than 60, and many of them suffer from chronic conditions requiring diagnostic imaging. Paying for these procedures is easier in Japan than it is in other Asian countries. In addition, China is driving the market as rural areas have experienced much of the recent market growth. The country’s Ministry of Health has announced USD 124 billion healthcare investment in 2009, urban and rural clinics and hospitals have increased spending on capital equipment including diagnostic imaging devices. Most of China’s best hospitals are starting to upgrade to expensive, sophisticated diagnostic devices, while small and mid-sized hospitals in rural China are starting to invest in midrange imaging equipment.

Some of the key players in medical image analysis software market include Bruker Corporation, Esaote Inc., Merge Healthcare Inc., Spacelabs Healthcare Inc., Carestream Health Inc., Philips Healthcare, GE Healthcare, Toshiba Medical Systems Corporation, Xinapse Systems Ltd., ClaroNAv Inc., Aquilab GmbH, MIM Software Inc., Agfa-Gevaert Corporation, Siemens Healthineers, among others.

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This report segments the global medical image analysis software market as follows:

Global Medical Image Analysis Software Market: Type Segment Analysis

  • Integrated Software
  • Stand-alone Software

Global Medical Image Analysis Software Market: Modality Segment Analysis

  • Tomography
  • Ultrasound Imaging
  • Radiographic Imaging
  • Combined Modalities

Global Medical Image Analysis Software Market: Application Segment Analysis

  • Orthopedic
  • Dental
  • Neurology
  • Cardiology
  • Oncology
  • Obstetrics & Gynecology
  • Mammography
  • Urology & Nephrology

Global Medical Image Analysis Software Market: End-user Segment Analysis

  • Hospitals
  • Diagnostic
  • Research Centers

Global Medical Image Analysis Software Market: Regional Segment 

  • North America
    • The U.S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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