The Medical Image Analysis Software Market Size in Europe projected to touch USD 1.29 billion by 2027 and was valued at USD 0.92 billion in 2022, registering a CAGR of 6.89% from 2022 to 2027.
Medical imaging includes a set of several different technologies that are used to visualize the human body in order to diagnose, monitor, or treat medical conditions. Each type of technology provides different information about the area of the body that is being studied or treated, related to possible illness, injury or the effectiveness of medical treatment. The growing demand for these solutions presents a unique opportunity for medical imaging software vendors and, in turn, has become an attractive market. In fact, this market is growing at a faster rate than the market for medical imaging equipment.
Growing demand for medical imaging devices, growing number of healthcare players and increasing number of CAD applications are some of the factors driving the growth of medical imaging software market.
The high cost of imaging equipment, coupled with the high cost of software implementation and licensing, is the main factor limiting the growth of the market, especially in countries where the reimbursement scenario is poor due to the high cost of these systems and limited financial resources, healthcare establishments in many European countries are reluctant to invest in new or technologically advanced systems. In addition, deployment and subscription / license fees for advanced imaging tools represent a significant financial burden for end users. These factors can slow down digitalization in healthcare facilities and affect the adoption of advanced technologies for diagnosis and analysis.
The cloud-based model has become an effective solution to deliver image analysis software, as it provides better accessibility to data and real-time analysis. Cloud-based image analysis solutions make it easy to deliver analytical information from a multi-terabyte database, anywhere, anytime, and on any platform. Due to these advantages, in the coming years the demand for cloud-based image analysis solutions is expected to be high among end users. To take advantage of growth opportunities, many companies are undertaking strategic initiatives to launch new products and expand their presence in the cloud-based medical image analysis software market.
Security concerns could compromise the authenticity of the data stored when using these same devices. In addition, if the correct type of software is not purchased, problems may arise while using it. The costs associated with these products are also high depending on the type of device for which you are using the software. These challenge the market growth rate.
This research report on the Europe Medical Image Analysis Software Market segmented and sub-segmented into the following categories:
By Image Type:
By Imaging Technology:
The health sector in Europe is different in every country, but in many countries it is managed at the national level. On average, it is estimated that public health expenditure in European region will increase from 8.6% of GDP in 2015 to 14.6% in 2030. With increase in funding, with France devoting 16.9% of its expenditure to health, as a percentage of total public expenditure and expenditure in Germany close to 18.6% in 2019. The proportion of Europeans aged 65 and over will increase from 18% in 2015 to 30% in 2030. This increase in the aging of the population has increased the request for medical attention and imaging devices. It is one of the main drivers of medical imaging software market and is set to develop strongly in the coming period.
Companies playing a dominant role in the Europe Medical Image Analysis Software Market profiled in this report are Agfa HealthCare, Medviso AB, Aquilab, Bruker Corporation, Carestream Health Inc., Esaote S.p.A, GE Healthcare, Spacelabs Healthcare, Merge Healthcare Inc., Xinapse Systems Ltd., MIM Software Inc., Philips Healthcare, Clarion Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.
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