Medical Image Analysis Software Market Assessment Covering Growth Factors and Upcoming Trends

Research report presented by UnivDatos, Emphasis on Software Type (Standalone and Integrated Software), Image Type (2D Image, 3D Image and 4D Image), Imaging Technology (Computed Tomography (CT), Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Magnetic Resonance Imaging (MRI), Ultrasound, X-ray Imaging), Application (Cardiovascular, Neurology, Orthopaedic, Dental, Mammography, Obstetrics and Gynaecology, Oncology), End-Users (Hospitals, Diagnostic Centre, Research Centre) and Geographical analysis (key regions and countries).

As per the research report, North America Medical Image Analysis Software Market was valued at US$ 1,062.4 million in 2018 and is anticipated to display considerable CAGR of 6.36% over the forecast period (2019-2025). Medical imaging analysis software and their algorithms are among the key element of modern healthcare. Medical sector has become entirely dependent on medical image analysis techniques as it has made it easier for physicians to locate tumors and other hidden structures within the patient’s body. Imaging modalities have made impressive advancements over the past years. Image analysis software also allows the access of the data overseas at any remote location and in turn allowing the information to be shared with other practitioners. In today’s era, medicine is unimaginable without Computed Tomography, Magnetic Resonance Imaging, Ultrasound, and Positron Emission Tomography as well as combined hybrid technologies such as PET-CT and PET-MRI and image fusion.

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Owing to the factors such as rapid growth in aging population and increasing incidence of chronic diseases in the US and Canada are the major driving factors for the North American Medical Image Analysis Software market. In addition, rising applications of Computer Aided Diagnostics (CAD) will further boost the market growth. However, high cost of software and unavailability of skilled professionals will act as a restraint for the adoption of this technology. Moreover, rapid technological advancements and improving healthcare environment will act as the opportunity for further evolution of this industry.

“Integrated Software is anticipated to dominate during the analyzed period.”

Integrated Software is anticipated to escalate the market growth due to the lower costs and centralized data storage. The segment is expected to grow due to the factors such as increased investments for medical Imaging technology paired with rising prevalence of chronic diseases are anticipated to propel the use of these software over the coming years.

“3D image expected to lead the market during the analyzed period.”

Medical image analysis software market is segmented based on image type including 2D image, 3D image and 4D image. 3D image was the most prominent used image type in the North American medical system and is expected to maintain its dominance throughout the forecast period 2019-2025.

“Computed Tomography held the largest market share in 2018 and are expected to dominate the market in 2025.”

The study further bifurcates the North American medical image analysis software market into different medical Imaging modalities including, X-ray radiography, ultrasound, computed tomography (CT), nuclear medicine including positron emission tomography (PET) and magnetic resonance imaging (MRI), wherein Computed Tomography technology held the largest market share in 2018 and is expected to dominate the market by 2025.

“Amongst application, cardiology holds the major share.”

Medical image analysis software holds a wide range of application such as cardiovascular, neurology, orthopedic, dental, mammography, Obstetrics and gynaecology and oncology, among others. Rising incidence of Cardiovascular disease will escalate the market growth and will hold the highest market share in this segment.

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“Amongst end-users, hospitals are anticipated to dominate North America medical image analysis software market by 2025.”

Diagnostic centres, hospitals and Others (research laboratories) are the major end-users of this technology. Hospitals are anticipated to dominate this segment in 2025. Owing to the escalation in the incidence of chronic diseases in both US and Canada.

“United States represents as one of the largest markets of medical image analysis software in North America.”

For a deep dive analysis of the industry, the study also includes country level analysis, including countries such as U.S., Canada, Mexico, and Rest of North America. United States is considered as the largest market of this technology. Robust medical infrastructure is driving the market growth of this country.

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Competitive Landscape-Top 10 Market Players

Canon Inc, Fujifilm Holdings Corporation, Watson Health Imaging, General Electric Company, McKesson Corporation, Agfa-Gevaert NV, Esaote S.p.A., Koninklijke Philips N.V., Siemens Healthcare, Hitachi Healthcare Manufacturing, Ltd. are some of the prominent players operating in the North America Medical Image Analysis Software industry. U.S. has captured the major share in North America medical image analysis software market due to the first mover advantage as majority of the players are headquartered in the U.S. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with innovative and hi-tech products.

Customization Options:

UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The North America Medical Image Analysis Software Market can be customized for other North American countries as per the client’s requirement and based on data availability.