Market Insights
Technological advancements in imaging systems, growing investments by leading market players in the medical imaging market, a rise in the prevalence of chronic diseases leading to increased demand for diagnostic devices, and the rise in demand for computer-aided diagnosis have all contributed to the growth of the medical imaging software market. Medical imaging software aids in forming the exact pictorial representation of the scans, which eases medical investigation and diagnostic proceedings. As appropriate imaging software, it aids in the advancement of patient care and simplifies operation procedures.
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The advent of 3D and 4D imaging techniques has fueled the growth of this market. 3D Imaging accounted for the largest market share of the various image types studied in 2017 and is expected to grow at a similar rate through 2026.3D Imaging finds major application in ultrasound imaging, MRI, and radiography. With advancements in technology, the devices are now integrated with advanced software that presents enhanced images. For instance, the Onsight3D Extremity System’s software by Carestream Health increases the contrast of the soft tissues and decreases the visibility of appearing metal artifacts. This device currently scans only the extremities and is being developed to scan 3D images of other areas of the body. Constant enhancements in devices would increase the demand for medical imaging software, thus catalyzing the overall market’s growth. However, the high cost of imaging devices with enhanced software and the need for skilled professionals to use this software could hinder the growth of the overall medical imaging software market.
Of the geographies studied, North America dominated the overall market in 2017, while Asia Pacific will grow at the fastest CAGR during the forecast period from 2018 to 2026. The rise in healthcare expenditure, continuous investment in research and development, and government support in regulating device approvals and providing funds for development primarily facilitate the growth of medical imaging software in North America. Additionally, the growing prevalence of chronic diseases, which has led to an increase in diagnosis rates and the awareness of the availability of advanced medical imaging tools, has catalyzed the North American market’s growth.
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The global medical imaging software market is segmented as follows:
By Image Type
- 2D Imaging
- 3D Imaging
- 4D Imaging
By Application
- Radiography
- Magnetic Resonance Imaging (MRI)
- Positron Emission Tomography
- Single-photon emission computed tomography
- Ultrasound Imaging
- Echocardiography
By Geography
- North America
- Europe
- Germany
- France
- Italy
- U.K.
- Russia
- Rest of Europe
- Asia-Pacific
- India
- China
- Japan
- Rest of Asia-Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
The global medical imaging software market comprises a competitive pool of market players, namely Agfa Healthcare, GE Healthcare, Infosys Limited, Hologic, Esaote SpA, Philips Healthcare, Carestream Health, Hitachi Medical Corporation, Shimadzu Corporation, and others.
This report offers the following:
- A thorough understanding of the global medical imaging software market
- Market analysis and in-depth analysis for the period from 2016 to 2026, considering 2016 as the historical year and 2017 as the base year.
- Growth in terms of CAGR for the period from 2018 to 2026 has been incorporated into this report.
- Qualitative information about the market dynamic factors, namely, market restraints, drivers, and challenges
- A complete understanding of the competitive landscape and profiles of the leading market players
