North America Medical Image Analysis Software Market is anticipated to foresee a significant growth

North America Medical Image Analysis Software market was valued at US$ 1,062.4 million in 2018 and is anticipated to display a considerable CAGR of 6.36% over the forecast period (2019-2025). Demand for higher care delivery quality and value is growing. To comply with it, medical device manufacturers, researchers, and innovators have to excel at their services for clinical stakeholders and help to reduce preventable clinical errors, unnecessary procedures and tests, exploratory surgeries, and misdiagnosis cases.  

Medical imaging is one of the fastest-growing areas of healthcare. Over the past few decades, it has evolved to include multiple imaging modalities including CT scans, MRIs, ultrasound, and nuclear medicine, to name a few. Along with advancements in the hardware and devices used to generate medical images, huge progress has been made with the different types of software that handle these images. The U.S. Food and Drug Administration (FDA) had regulated medical image analyzers for more than 20 years under the agency’s most stringent regulatory requirements. In January 2020, the FDA reclassified medical image analyzers applied to mammography breast cancer, ultrasound breast lesions, radiograph lung nodules, and radiograph dental caries detection from Class III to Class II.

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North America Medical Image Analysis Software based on software type is bifurcated in standalone software and integrated software.

2D, 3D, and 4D are the major types of image types of Medical Image Analysis. 3D image types are expected to dominate the market during the forecast period. In a few years, 3D functionality could become an intrinsic part of the imaging solution. There is no rationale, indeed, for PACS systems to remain confined to the realm of 2D imaging, while specialized add-on software handles 3D imaging.

Based on imaging technology, the market is segregated into X-ray radiography, ultrasound, computed tomography (CT), nuclear medicine including positron emission tomography (PET), and magnetic resonance imaging (MRI). The Computed Tomography is often performed initially in the emergency department to detect foreign bodies. It dominated the market in 2018 and is expected to maintain its dominance through the forecast period.

Cardiovascular, neurology, orthopedic, dental, mammography, obstetrics, and gynecology and oncology are the major applications amongst others wherein medical image analysis software is being utilized. Cardiac MRI analysis enables the study of abnormalities in the structure, contractile function, blood perfusion and tissue composition of the heart muscle, all important aspects used to diagnose heart disease, and to select, plan and guide therapy. Cardiovascular is anticipated to dominate the market by 2025. Diagnostic centers, hospitals, and others (research laboratories) are the major end-users of this technology. Hospitals are anticipated to dominate this segment in 2025.

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

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. The U.S. has captured the major share in North America medical image analysis software market due to the first-mover advantage as the 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.

North America Medical Image Analysis Software Market Segmentation

Market Insights, by Software

• Standalone Software
• Integrated Software

Market Insights, by Image

• 2-Dimensional Image (2D Image)
• 3-Dimensional (3D)
• 4-Dimensional (4D)

Market Insights, by Image Technology

• Computed Tomography (CT)      
• Positron Emission Tomography (PET)
• Single Photon Emission Computed Tomography (SPECT)
• Magnetic Resonance Imaging (MRI)
• Ultrasound Imaging
• X-Ray Imaging                    

Market Insights, by Application

• Cardiovascular
• Neurology
• Orthopedic
• Dental
• Mammography
• Obstetrics and Gynaecology
• Oncology

Market Insights, by End-User

• Hospitals             
• Diagnostics Centres
• Others (Research Laboratories)

Market Insights, by Country

• United States
• Canada
• Mexico
• Rest of North America

Top Company Profiles

• Canon
• Fujifilm Holdings Corporation
• Watson Health Imaging
• General Electric Company
• McKesson Corporation
• Agfa-Gevaert NV
• Esaote S.p.A.     
• Koninklijke Philips N.V.
• Siemens Healthineers AG
• Hitachi Healthcare Manufacturing

Final Report will add the analysis of the impact of COVID-19 on this industry.”

In the highly import dependent Indian medical devices market, a large number of indigenous manufacturers of syringes & needles have managed to come up. However, it does not mean that imports are low for this market. Imports, as in the case with other medical devices, are quite high but the domestic manufacturers have been able to tap foreign markets through increasing exports. The target base of consumers is growing steadily which is expected to significantly boost sales in the market.

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The report provides a snapshot of the syringes & needles market. It begins with the introduction section which mentions the features and uses of syringes & needles along with a brief description of the various phases in their development. The market overview section provides an insight into the market and highlights the market size. Import and export figures for syringes & needles, both in terms of volume and value have been provided in the next section. It also includes the regional break-up of the imports and exports.

An analysis of the drivers explains the factors leading to the growth of the market which include increasing need of insulin doses, increasing demand for vaccines, improving health infrastructure, growing incidence of diseases, changing demographics and health check-up packages. Some of the major challenges to the market are illegal recycling of syringes & needles and problems associated with usage. Government legislation in the market has been discussed in the next section.

The competition section highlights the features of the major players operating in the market. A brief profile of the major domestic and foreign players in the market along with their financials has been included in this section.

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A section providing strategic recommendations has been given at the end of the report which gives effective solutions to existing and potential players for improving market share and increasing profitability. The Market report answers the following questions:

What is the aim of the report?

• The market report presents the estimated market size of Medical Image Analysis Software market by the end of forecast period. Additionally, the historical and current market size is also examined in the report.
• Based on various indicators, the Year on Year growth (%) and compound annual growth rate (CAGR) for the given forecast period is offered.
• An overview of the Market based on geographical scope, market segmentation and financial performance of key players is presented in the report.
• The report presents current trends in the industry and future scope of the Market in North America, Asia Pacific, Europe, Latin America and Middle East and Africa.
• The various parameters accelerating the growth of Market are incorporated in the research report.
• The report analyzes growth rate, market size and valuation of the Market during the forecast period.

What aspects regarding the regional analysis Market are included in this report?

• Geographical regions covered in the report include North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
• The report consists of detailed region-wise analysis of current and future market trends, providing information on product usage and consumption.
• The growth rate of the market in every region, including their countries over the forecast period is included in the market report.
• Based on what factors are the key market players assessed in this report?
• The report offers detailed analysis of leading companies in the market across the globe.
• It provides details of the major vendors involved in the Market including Key Players
• A comprehensive overview of each company including the company profile, generated revenue, pricing of goods and
• the manufactured products is incorporated in the report.
• The facts and figures about market competitors along with standpoints of leading market players are presented in the report.
• The recent developments, mergers and acquisitions related to mentioned key players are provided in the market report.

What is the key information extracted from the report?

• Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.

• The report offers the present scenario and future growth prospects Market in various geographical regions.
• The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
• The SWOT analysis is conducted along with Porter's Five Force analysis.
• The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.