The Medical Image Analysis Software Market's size in North America was worth USD 1.03 billion in 2022 and is estimated to be growing at a CAGR of 7.56% to reach USD 1.49 billion by 2027. North America is presently ruling the global medical image analysis software market for the last few years and is also expected to dominate during the forecast period.
The increasing elder people population, high occurrence rate of different diseases, and quick acquisition of advanced technological imaging systems are to accelerate the market growth in this region. In the US and Canada, the rapid growth of the aging population and rising occurrence rate of chronic ailments is predicted to drive away from the North America medical image analysis software market throughout the historical period. Besides this, growing extensive usage of computer-aided applications will bolster the market growth further.
Increasing the older people's population, influencing demand for imaging solutions for improved capability, and decrease the cost besides growing obtainment of e-health infrastructure is augmenting the boost they need for the medical image processing software. The healthy advancements in imaging technologies have led to the production of the massive amount of data.
The equipment's cost is so highly integrated with the license, execution, and installation of the software, which is hampering the market growth during the period. Lack of low reimbursement policies also hinders the image analysis software market growth in this region. Strict government regulations and schemes in medical imaging systems of this region are obstructing the North America region.
This research report on the North America Medical Image Analysis Software Market has been segmented and sub-segmented into the following categories.
Regionally, as of 2019, North America leads the global medical image analysis software market, accounting for more than 34% of the total market share. The increased government funding focused on enhancing the imaging facility is the prime growth driver for this region's market.
The U.S is projected to represent one of the leading markets in this region and technology. Robust medical equipment and infrastructure are escalating the market growth. Increasing funds and investments from the government focus on improving the medical imaging facilities that fuel the region. Along with these, increasing public and private sector investments and rising computer-aided design applications are likely to bolster the market.
Canada is standing as the second-largest country followed next to the U.S as a result of a large number of imaging centers, growing awareness about the advantages provided by early diagnosis of the diseases. Medical image processing software's insistence is escalated to enhance, which owes to growing elder people population, and rising demand for advanced healthcare fuel the market. Cloud computing market for hospitals and clinics and research institutes are likely to augment to grow as it favors better facility to process and store images that escalate the market growth in this region.
Prominent companies operating in the North America 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, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.
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