The Global Medical Image Analysis Software Market report published by Market Data Forecast provides a detailed account of the Market Trends via Customized Research presented as Strategic Analyses, Company Profiles, Competitive Landscape, etc. According to the report, the Global Medical Image Analysis Software Market is estimated to be USD 2.85 billion and predicted to rise to USD 4.13 billion with a CAGR of 7.72%. The market is segmented by Image Type (2D Imaging, 3D Imaging, 4D Imaging), by Imaging Technology (X-Ray, Computed Tomography-(High-End Slice CT, Mid-End Slice CT, Low-End Slice CT), Positron Emission Tomography, Single Photon Emission Computed Tomography, Magnetic Resonance Imaging-(Open MRI Systems, Closed MRI Systems), Ultrasound, Radiographic Imaging), by Application (Cardiovascular, Neurology, Dental, Urology, Orthopaedic, Oncology, Obstetrics and Gynaecology, and Mammography), and by End User (Hospitals, Research Centres, and Diagnostic Centres). Further the market is also geographically segmented into North America, Europe, Asia-Pacific, Latin America and Middle-East & Africa.
The growth of the Global Medical Image Analysis Software Market is mainly driven by factors such as technological advancements, upsurge in frequency of cancer cases, increase in demand for imaging modalities, and favourable government schemes. The growing need for improved efficiency in medical procedures is another major factor driving the growth of the market. However, factors such as high cost of software data, hacking concerns, and data security issues are preventing the growth of the market.
The 3D Imaging segment leads the global market on the basis of Image Type and is also projected to witness a higher growth rate during the forecast period. Under the Imaging Technology segment, Computed Tomography leads the market followed by X-Ray and Magnetic Resonance Imaging (MRI). The Cardiovascular segment leads the global market on the basis of application, followed by orthopaedic and neurology.
In 2015, North America led the global Medical Image Analysis Software market in terms of both value and capacity. However, the Asia Pacific region is projected to grow the highest during the forecast period due to various factors such as presence of ample untapped opportunities, increase in per capita income, advancements in diagnostic technology and growing awareness among people regarding medical imaging techniques and their advantages.
This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the global Medical Image Analysis Software market 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, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.
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