Healthcare Industry Insights: May 2022

Monday 23 May 2022

Medical Image Analysis Software Market Worth $5.49 Billion By 2030

The global Medical Image Analysis Software Market size is expected to reach USD 5.49 billion, expanding at a CAGR of 7.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of chronic diseases creates demand for effective diagnostics solutions, which spurs the demand for medical image analysis software. The high growth is majorly attributed to a rise in the usage and uptake of image analysis solutions for diagnosis. Furthermore, the rising demand for medical image analysis software is being driven by the increased use of imaging equipment due to the rising prevalence of chronic diseases and developing applications of computer-aided diagnosis.

According to data by the National Health Council, in 2020, around 133 million Americans were affected by chronic diseases, accounting for more than 40% of the country’s total population. Thus, increasing cases of chronic diseases lead to an upsurge in the usage of medical imaging techniques. In addition, shifting focus to providing enhanced care has led to the incorporation of various computer-aided diagnosis systems, which is further contributing to the market growth. The introduction of technologically advanced products, such as 3D/4D platforms and multimodality imaging platforms, is also presumed to boost the demand for the software.An increase in medical imaging procedures will further drive the market growth.

According to Science Direct, in the U.S. alone, around 600 million imaging operations are performed each year. This shows the potential demand for medical image analysis software solutions.Various benefits, such as flexibility and high-resolution images, along with convenient use of multi-modal integrated workflows are expected to bolster the demand and increase product penetration over 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. Artificial Intelligence (AI) in medical imaging has impacted market dynamics in recent years and is expected to have a positive impact on the market. For instance, in March 2021, Royal Philips and DiA Imaging Analysis entered into a strategic partnership to provide clinicians with automated solutions at the point of care. Philips’ industry-leading ultrasound picture quality, combined with DiA’s AI library of automated solutions, will assist Point-of-Care customers in and out of the hospital improve diagnostic confidence, operational efficiency, and access to care.

Related Press Release@ Medical Image Analysis Software Market Report

Medical Image Analysis Software Market Report Highlights

The oncology application segment is expected to witness the fastest CAGR over the forecast period due to the increased applicationscope of image analysis software in cancer diagnostics
The hospitals end-use segment held the largest revenue share in 2021 owing to thehigh product adoption in the diagnosis of various diseases
Asia Pacific is expected to showcase the fastest CAGR during the forecast years owing to the unmet clinical needs
The global market is highly fragmented and companies witness fierce competition as the industry is technology-driven
Strategies implemented by key players include collaborative agreements, new product launches, and geographical expansions

About Us:
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, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.

Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
For More Information: https://www.grandviewresearch.com

Friday 6 May 2022

Wearable Brain Devices Market Kernel, EMOTIV, Neurolief, Brain Scientific, BioSerenity

The global Wearable Brain Devices Market size is anticipated to reach USD 668.5 million by 2030, registering a CAGR of 12.33%, according to a new report by Grand View Research, Inc. The increasing prevalence of neurological disorders and the growing government initiatives across the globe are expected to drive the growth of the market.

The COVID-19 pandemic has created a significant challenge for the global healthcare industry. The influence of wearable brain products is twofold. Hospitals and clinics are increasingly requesting the use of these devices to track neurology-related problems in COVID-19 patients. However, the market expansion is hampered by problems such as the disruption of the medical supply chain, delayed production, and a restricted workforce. Nonetheless, the demand for these devices during such critical periods, as well as the need to deliver effective therapy, will outweigh the aforementioned limitations.

During the forecast period, technological advancements are expected to be a crucial driver for the growth of the market. For instance, in March 2021, the Food and Drug Administration approved Neurolief's Relivion device. Relivion is a multi-channel non-invasive brain neuromodulation system designed for at-home treatment of acute migraine, a devastating neurological illness that results in 1.2 million emergency room visits every year and affects 39 million people globally.

Related Press Release@ Wearable Brain Devices Market Report

Wearable Brain Devices Market Report Highlights

By channel type, the 32-channel type accounted for the largest market share of 34.33% in 2021. This is attributed to technological advancements and high adoption by healthcare professionals
Based on the application, the epilepsy segment dominated the market with around 33.80% of the revenue share in 2021. This is due to the increasing prevalence of epilepsy, and the high efficacy exhibited by wearable brain devices in treating epilepsy
Based on end-user, the neurology centers segment captured the largest market share of around 20.79% in 2021. The growth of this segment can mainly be attributed to the consequent rise in surgical procedures
Asia Pacific is expected to witness the fastest CAGR of 13.97% over the forecast period. Expansion of private hospitals and neurology centers in rural areas will drive the regional market growth

Thursday 5 May 2022

Hair Removal Devices Market Solta Medical, Inc., Cynosure, Inc., Lumenis, Venus Concept Canada Corp.

The global Hair Removal Devices Market size is expected to reach USD 2.1 billion by 2030, registering a CAGR of 8.6% during the forecast period, according to a new report by Grand View Research, Inc. Rising beauty consciousness, particularly among women, has been driving the growth of this market. Men are also following this trend due to the rise in awareness about the need for better grooming. In addition, there is a high demand for noninvasive techniques for hair removal, such as the laser technique, owing to the benefits associated with their usage. Moreover, these devices are also designed for home use. This factor is also contributing to the high demand for personal non-invasive grooming techniques.

The COVID-19 pandemic had adversely affected the market due to a decline in operations, sales, and revenue. The pandemic has temporarily changed the customers’ spending habits due to the restrictions imposed by the governments across various nations. Customers have started opting for at-home services for beauty and other aesthetic procedures. The availability of technologically advanced products also plays an important role in boosting the growth of the market. New laser devices emit longer wavelengths of light, which enables them to avoid the melanin in darker skin and focus on the melanin present in hair follicles. This eliminates the risk of causing skin burns. All these factors are expected to drive the market in the coming years.

Related Press Release@ Hair Removal Devices Market Report

Hair Removal Devices Market Report Highlights

Laser devices held the largest share in 2021 owing to their benefits, such as painless treatment and rapid hair reduction
Diode lasers segment is lucrative, as they provide rapid hair reduction with minimum adverse effects
In 2021, the beauty clinics segment dominated the market because a large number of consumers prefer rapid treatment sessions, unlike dermatology clinics
The home-use segment is anticipated to exhibit the second-fastest CAGR during the forecast period due to the easy availability of these devices through retail & online distribution channels
North America held the largest revenue share in 2021 due to its well-developed healthcare infrastructure and growth in the number of hair reduction procedures in the U.S.
Asia Pacific is anticipated to witness the highest growth rate during the forecast period owing to increasing awareness about advanced equipment and the availability of affordable laser hair removal devices in China