Since the incidences of chronic diseases are increasing all over the globe the urgency to use medical image analysis software is on a rise, which is driving the growth of medical image analysis software market. In addition, the trend of using electronic health records to store, distribute and manage patient health information in the form of medical images is also boosting the medical image analysis software market. Also, because of the fact that there is a continuous improvement in medical technology such as computer aided diagnosis, this opens up vast opportunities for the use of new and enhanced medical image software tools aiding in the treatment of a wide variety of diseases like cancer. Thus, there is a great demand for efficient treatment procedures that use such kind of software, leading to growth in medical image analysis software. The advantages of using such type of software are in the form of enhanced image quality, high resolution of images and multi-modal imaging platforms which are preferred by physicians. Also, by using such software for medical purposes, it facilitates the sharing of medical image records among doctors and hospitals, thereby reducing the time of diagnosis and aiding in the decision making process. These are the factors driving the global medical image analysis software market.
In the medical image analysis, the health related problems are analysed with the aid of digital image processing technique and various imaging modalities. Such type of medical image analysis software is an important part of diagnostic machines and it is helpful in enhancing and identifying features of an image. This software is for the purpose of training, storing, viewing and sharing medical data. Medical image analysis software is utilized to increase the effectiveness and efficiency of medical treatment.
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According to the assessment of Persistence Market Research, the global medical image analysis software market is forecasted to reach a figure of about US$ 3,800 Mn in 2022 and is poised to exhibit a robust CAGR in the period of assessment.
North America Market Set to Dominate the Global Medical Image Analysis Software Market in Terms of Revenue
The market in North America is set to dominate the global medical image analysis software market in terms of value and this trend is projected to sustain itself throughout the assessment period. North America medical image analysis software market is the most attractive market, growing at a robust CAGR over the forecast period.
Integrated Software Segment Poised to Touch a Value of Nearly US$ 1,430 Mn in 2022
According to the projections of Persistence Market Research, the integrated software segment is expected to reach a value of about US$ 1,430 Mn in the year 2022. This signifies a robust CAGR during the forecast period of 2017-2022. The integrated software segment is anticipated to account for more than one-third of the revenue share of the product type segment by the end of the year 2017 and is expected to lose in market share by 2022 over 2017.
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Hospitals Segment to Exhibit a CAGR of 7.8% During the Assessment Period
According to the assessment of Persistence Market Research, the hospitals segment is poised to touch a figure of about US$ 1,800 Mn in the year 2022. This signifies a CAGR of 7.8% during the assessment period from 2017 till the year 2022. The hospitals segment is estimated to account for nearly half of the revenue share of the end-user segment by the end of the year 2017 and is projected to lose market share by 2022 over 2017.
The report also profiles companies that are expected to remain active in the expansion of global medical image analysis software market through 2022, which include AGFA Healthcare, AQUILAB, Carestream Health, Inc., Esaote SpA, GE Healthcare Inc., Siemens Healthineers, Sciencesoft USA Corporation, Philips Healthcare, Toshiba Medical Systems Corporation, Mirada Medical Limited, Merge Healthcare Inc. and Analogic Corporation.