Due to the advancements in technology the medical image analysis software is getting increasing utilized by the medical fraternity. Moreover, there is a rise in demand for imaging modalities and increased government spending on the healthcare sector are other factors driving the growth of this market. In addition, using medical image analysis software increases the efficiency and effectiveness of medical procedures due to which the use of such software is gaining in popularity. Moreover, there is an increase in the number of chronic illnesses like cancer, due to which also demand for medical image analysis software is increasing. Also, a growing awareness about the benefits of using such software in the medical community and the rise in geriatric population are also aiding the market growth. Besides, such type of images can be shared easily by doctors, and this speeds up the decision making process of doctors and therefore such type of medical image analysis software is becoming popular.
The global medical image analysis software market is slated to touch a value of about US$ 3,800 Mn in the year 2022 and grow at a robust CAGR during the assessment period.
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4 Forecast Highlights on Global Medical Image Analysis Software Market
- As per the forecast of Persistence Market Research, the standalone software segment is slated to touch a value of nearly US$ 2,380 Mn in the year 2022. This represents a robust CAGR growth during the assessment period of 2017-2022. The standalone software segment is estimated to account for nearly two-third of the revenue share of the product type segment by the year 2017 and is forecasted to gain market share by 2022 over 2017.
- As per the forecast of Persistence Market Research, the diagnostic centers segment will reach a value of nearly US$ 720 Mn in the year 2017. This represents a robust CAGR growth during the forecast period. The diagnostic centers segment is forecasted to account for more than one-fourth of the total revenue share of the end-user segment by the end of the year 2017 and is expected to gain in market share by 2022 as compared with the year 2017.
- As per the forecast of Persistence Market Research, the computed tomography segment is slated to reach a value of nearly US$ 1,170 Mn in 2022. The computed tomography segment is expected to gain market share by the end of the year 2022. The largest share is contributed by the North America region in the computed tomography segment.
- Persistence Market Research forecasts the 2D imaging segment to exhibit an annual growth rate (CAGR) of 7% from 2017 to 2022.
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The report has also included the profiles of some of the leading companies in the medical image analysis software market like Carestream Health, Inc., Analogic Corporation, Sciencesoft USA Corporation, AGFA Healthcare, Siemens Healthineers, Esaote SpA, Philips Healthcare, AQUILAB, GE Healthcare Inc., Merge Healthcare Inc., Toshiba Medical Systems Corporation and Mirada Medical Limited.