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Medical Image Analysis Software Market By Type (Integrated and Standalone), By Modality (Tomography, Ultrasound Imaging, Radiographic Imaging and Combined Modalities), By Application (Orthopedic, Cardiology, Oncology, Mammography and Others) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

The medical image analysis software market is expected to grow from $2,318.4 million in 2017 to $4,642.1 million in 2026, at a compounded annual growth rate of 8.1% from 2018 to 2026. The drivers associated with the medical image analysis software market are the rising prevalence of chronic diseases, the increasing application of computer-aided diagnostic methods, and the increasing healthcare expenditure in emerging economies.

The ability to obtain clinical workflow and provide single-point access drive the growth of the integrated software solutions market.

Integrated software solutions are leading the type segment of the medical image analysis software market. The ability to streamline clinical workflow and provide single-point access to clinical applications are two key features that contribute to its positive growth. Standalone software solutions are very popular owing to their significant adoption rate in multispecialty clinics and hospitals and the low maintenance costs incurred.

Rapid advancement in clinical radiology and cost-effective diagnostic procedures drive the radiographic imaging market's growth.

The modality segment of the medical image analysis software market is led by radiographic imaging techniques. Cost-effective diagnostic procedures and rampant advancements in clinical radiology drive the radiographic imaging market's growth. Ultrasound imaging techniques have gained tremendous attention among healthcare professionals owing to their positive inherent features, such as high accuracy and rapid analysis. They are also considered relatively safe due to the lack of ionizing radiation exposure.

The growing prevalence of musculoskeletal disorders worldwide, as well as the critical need for accurate diagnosis of soft tissue damage, drive the growth of the orthopedic applications market.

Orthopedics is reigning in the applications segment of the medical image analysis software market. The vital requirement for accurate diagnosis of soft tissue damage and the rising prevalence of musculoskeletal disorders together drive the orthopedic applications market's growth.

Cardiology and oncology will exhibit linear growth on account of the increasing number of patients suffering from chronic ailments such as cardiovascular complications and cancer. Rising demand for computer-assisted minimally invasive surgical procedures due to improved visualization of atherosclerotic plaques and cancerous tumors, respectively.

Soaring adoption rates of new technology and increasing healthcare expenditures drive market growth in North America.

North America, with a share of 32%, is the largest regional segment of the medical image analysis software market. The factors providing impetus to the medical image analysis software market's growth in North America are a significant rise in the adoption rate of new technology and increasing healthcare expenditure.

The existence of major IT healthcare companies such as GE Healthcare, Philips Healthcare, MIM Software, Inc., etc., further consolidates the market growth in the North American region. Europe accounts for 29% of the market, owing to the European Medical Agency's (EMA) stringent sanctions on effective chronic disease diagnosis and the increasing funds provided to the research and development segment to provide innovative technical software pertaining to medical image analysis.

Asia Pacific currently holds 20% of the market and serves as a lucrative market opportunity for key players to establish subsidiaries in collaboration with local IT companies and increase medical tourism.

Periods of History and Forecast

This research report presents the analysis of each segment from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Report Scope by Segments

The medical image analysis software market is segmented as follows:

IT healthcare companies actively engaged in the production of medical image analysis software are Aquilab GmbH, Agfa-Gevaert Corporation, Bruker Corporation, Carestream Health, Inc., GE Healthcare, MIM Software, Inc., Philips Healthcare, Siemens Healthcare, Toshiba Medical Systems Corporation, and Xinapse Systems, Ltd.

Key questions are answered in this report.

  • Which major IT healthcare companies are providing medical image analysis software solutions?
  • Which major software solutions are being opted for by hospitals, clinics, and research institutions worldwide?
  • Which factors contribute to the supremacy of integrated software solutions?
  • What will be the market performance of ultrasound imaging modalities in the near future?
  • What is the prevalence rate of chronic ailments pertaining to orthopedics, cardiology, and oncology?
  • What will be the market size and CAGR of emerging economies such as those in Asia Pacific, Latin America, and the MEA region?

Frequently Asked Question:

The market for Medical Image Analysis Software Market is expected to reach USD$ 4,642.1 Mn in 2026.

The Medical Image Analysis Software Market is expected to see significant CAGR growth over the coming years, at 8.1% .

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Agfa-Gevaert Corporation, Bruker Corporation, Carestream Health, Inc., GE Healthcare, MIM Software, Inc., Philips Healthcare. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Mar 2019
Category:  Medical Devices
Report ID:   59636
Report Format:   PDF
Pages:   120
Rating:    4.2 (66)
Delivery Time: 24 Hours to 48 Hours   
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