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
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.
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Grand View Research, Inc
Phone: 1-415- 349-0058
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Email: sales@grandviewresearch.com
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