Introduction:
Medical image
analysis software is a type of software that is used to analyze medical images.
These images may be generated by various medical imaging modalities such as
X-ray, CT (computed tomography), MRI (magnetic resonance imaging), ultrasound,
PET (positron emission tomography), and SPECT (single photon emission computed
tomography).
Medical image
analysis software helps medical professionals to diagnose and treat various
diseases and conditions by providing them with quantitative and qualitative
information about the images. This software is often used to assist with the
detection and diagnosis of cancer, heart disease, neurological disorders, and
musculoskeletal injuries, among other conditions.
Global
Medical Image Analysis Software Market Overview
“Medical Image
Analysis Software Market by Type
(Integrated), Images (2D, 3D, 4D), Modality (CT, MRI, PET, Ultrasound),
Application (Orthopedic, Oncology, Neurology, Mammography, Dental), End User
(Hospital, Diagnostic Center) - Global Forecasts to 2027”,
published by MarketsandMarkets™, is projected to reach USD 4.5 billion by 2027
from USD 3.2 billion in 2022, at a CAGR of 7.8%.
Browse in-depth TOC
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Image Analysis Software Market”
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KEY MARKET DYNAMICS
1 DRIVERS
1 Technological advancements in medical imaging systems and analysis
software
2 Growing public- and private-sector investments in medical imaging
market
3 Rising prevalence of chronic diseases
4 Growing applications of computer-aided diagnosis
2
RESTRAINTS
1 Budgetary constraints
3
OPPORTUNITIES
1 Cloud-based image analysis solutions
2 Untapped emerging markets
4
CHALLENGES
1 Market penetration of standalone software vendors
2 Software security and compliance
issues
3 Shortage of radiologists
Market
Segmentation: -
·
The integrated software segment occupied a larger
share of 61.8% of the medical image analysis software market in 2021. The
segment is expected to exhibit the highest CAGR of 8.6% during the forecast
period.
·
The 3D imaging segment accounted for the larger
share of the medical image analysis software market in 2021. This segment is
expected to maintain its leading position throughout the forecast period owing
to technological advancements in 3D imaging technology, such as artificial
intelligence and machine learning, enabling efficient and accurate real-time
visualization of the human body, thereby eliminating distortion in procedures.
·
The tomography segment accounted for the largest
share of 46.5% of the medical image analysis software market in 2021. This
segment is projected to reach USD 2,066.7 million by 2027 from USD 1,459.1
billion in 2022, at a CAGR of 7.2% during the forecast period.
Regional
Analysis: -
The medical image
analysis software market is segmented into five major regions, namely, North
America, Europe, Asia Pacific (APAC), Latin America, and the Middle East &
Africa.
North America
accounted for the largest share of the medical image analysis software market
in 2021. Favorable government initiatives to support the adoption of healthcare
IT, and the presence of key market players are favorable factors for market
growth in this region.
Asia Pacific was the fastest growing region, which can be attributed to the
growing medical imaging research and increasing adoption of medical image
analysis software by healthcare professionals in the region.
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Recent Developments
·
In
March 2022, Koninklijke Philips N.V. (Netherlands) launched Cloud-enabled
Enterprise Imaging Informatics and Analytics Solutions, namely, HealthSuite
Interoperability and Enterprise Performance Analytics – PerformanceBridge, to
meet diverse workflow needs across the imaging enterprise.
·
In
February 2022, IBM (US) acquired Neudesic, LLC (US) which was aimed at
expanding IBM’s portfolio of hybrid multi-cloud services and further advancing
the company’s hybrid cloud and AI strategy.
·
In
February 2022, Siemens Healthineers (Germany) collaborated with Universal
Medical Imaging (US) to help primary healthcare institutions in China improve
the efficiency of their image screening and disease diagnosis using advanced
imaging diagnostic equipment and remote scanning assistant tools from Siemens
Healthineers and nationwide medical imaging experts at Universal Medical
Imaging.
·
In
January 2022, IBM (US) acquired ENVIZI (Australia) which was aimed at building
on IBM's growing investments in AI-powered software.
Key
players offering Medical Image Analysis Software Products in this market
include:
- GE Healthcare (US),
- Koninklijke Philips N.V.
(Netherlands),
- Siemens Healthineers (Germany),
- Canon Inc. (Japan),
- Image Analysis, Ltd. (UK), and
- ScienceSoft USA Corporation (US).
These companies adopted
strategies such as service launches, business expansions, agreements,
partnerships, collaborations, and acquisitions to strengthen their presence in
the medical image analysis software market.
Conclusion: -
The market for medical image
analysis software is rapidly growing due to the increasing demand for advanced
medical imaging technologies in healthcare. The market is driven by factors
such as the rising prevalence of chronic diseases, the need for efficient and
accurate diagnosis, and the development of innovative imaging modalities.
Overall, the market for medical image analysis software is a dynamic and
rapidly evolving space, with significant opportunities for growth and
innovation.
