Market growth is driven by technological advancements in
medical imaging systems and analysis software, growing public- and
private-sector investments in the medical imaging market, increasing use of
imaging equipment due to rising prevalence of chronic diseases, fusion of
imaging technologies and growing applications of computer-aided diagnosis.
The report Medical
Image Analysis Software Market is expected to reach USD 3.88 billion by
2022 from USD 2.61 billion in 2017, at a CAGR of 8.2% during the forecast
period.
However, budgetary
constraints are restraining the growth of this medical image analysis software
market to a certain extent. The base year considered for the study is 2017, and
the forecast has been provided for the period between 2018 and 2023.
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Major Market Developments
- In December 2016, Pickering
Electronics Philips Healthcare (US) introduced Signed a 10-year
partnership with Expert Group of Companies (Russia) to jointly improve the
efficiency of the delivery of patient care in Russia.
- In June 2015, Siemens Healthcare
(Germany) signed a contract with William Osler Health System (Canada) to
expand its presence in the Canadian market.
- In November 2015, Vital Images, Inc.
(US) partnered with Heilind Electronics (US), a global distributor to
expand the company’s sensor product line through Stratasys, Ltd. (US) to
develop print-on-demand services using Vital’s industry-leading Vitrea
advanced visualization software and Stratasys’ 3D printing services.
Market Drivers:-
- Technological advancements in medical
imaging systems and analysis software
- Growing public- and private-sector
investments in the medical imaging market
- Increasing use of imaging equipment
due to rising prevalence of chronic diseases
- Fusion of imaging technologies
- Growing applications of computer-aided
diagnosis
Regional Analysis:-
Of the various
regions, North America is projected to account for the largest share of the
global medical image analysis software market by 2022. A recently published
report of the World Health Organization (WHO) stated that by 2020, chronic
diseases would account for nearly 73% of all deaths and 60% of the global
burden of disease.
Top Key Players:-
The increasing
presence of new and established players in the medical image analysis software
market is likely to intensify the competition. A few prominent market players
operating in this market include AQUILAB (France), AGFA Healthcare
(Belgium), Esaote S.p.A (Italy), Carestream Health, Inc. (US), and GE
Healthcare (US).
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