Medical Image Analysis Software Market By Type (Integrated, Stand-alone), By Modality (Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Combined Modalities, Others), By Application (Orthopedic, Dental, Neurology, Cardiology, Oncology, Others),

Medical Image Analysis Software Market By Type (Integrated, Stand-alone), By Modality (Computed Tomography, Magnetic Resonance Imaging, Ultrasound, Combined Modalities, Others), By Application (Orthopedic, Dental, Neurology, Cardiology, Oncology, Others), By End User (Hospitals, Diagnostic Centers, Others): Global Opportunity Analysis and Industry Forecast, 2022-2031

The medical image analysis software market was valued at $3.9 billion in 2021 and is projected to reach $12.3 billion by 2031, registering a CAGR of 12.2% from 2022 to 2031.

The application of medical image analysis software enables quantitative analysis and visualization of medical images of numerous modalities such as PET, MRI, CT, or microscopy. The applications of enabling both manual and automated analysis of 3D medical images unlocks various opportunities to the benefit of providers and patients. It includes machine learning systems to facilitate early diagnostics for higher cure and survival rates, neural networks for diagnosis validation, research-specific algorithms to find hidden patterns and valuable insights to improve drug development. It may also include the examination of complex imaging types with adverse symptoms segmentation solutions to pinpoint a treatment area and thus minimizing possible damage to healthy tissue during an invasive procedure, applications integrating 3D imaging with virtual reality (VR) devices to enable immersive training of health specialists, patient education, and advanced diagnostics. Integrating advanced technologies into the image interpretation pipeline can help the healthcare sector address challenges associated with large amounts of data. Custom software development of medical image analysis tools is a critical step in this process.

The growth of the medical image analysis software market is driven by increasing incidence of chronic diseases, rise in demand for health care services for the aging population, and continuous developments in the field of imaging technology, such as computer-aided diagnosis (CAD). Moreover, the rise in the geriatric population and growing adoption of ultrasound imaging systems to facilitate faster diagnosis of chronic diseases is expected to notably contribute toward the market growth. Furthermore, the global medical image analysis software market growth is largely driven by factors such as an increase in advancements of medical imaging software which is expected to lead to the growth of the market. Prominent players in the global medical image analysis software market have opted various strategies such as product launch, acquisition, and investments in R&D for advancement in medical image analysis software to strengthen their position in the market and sustain the competitive environment.

A significant increase in awareness about the advantages of medical imaging software products, rise in the usage of software in medical imaging, and surge in the number of patients suffering from diseases are some of the key factors driving the growth of the market. However, the security risks of data stored concerns and high installation cost and maintenance hamper the market growth. Conversely, introduction of Artificial Intelligence (AI) in medical imaging has changed the market dynamics in the forecast period which is expected to provide lucrative opportunities for the growth of the market. Extensive R&D activities in the field of medical imaging along with significant improvement in medical infrastructure are anticipated to open new avenues for the expansion of the market.

The global medical image analysis software market is segmented based on type, modality, imaging type, application, end user, and region. On the basis of type, the market is classified into integrated and standalone. As per modalities, the market is classified into tomography, ultrasound imaging, radiographic imaging, and combined modalities. According to imaging type, the market is classified into 2D imaging, 3D imaging, and 4D imaging. Depending on application, the market is classified into orthopedic, dental, neurology, cardiology, oncology, obstetrics & gynecology, and others. By end user, the market is classified into hospitals, diagnostic centers, ambulatory surgical centers, and others. Region wise, the market is studied across North America (the U.S., Canada, and Mexico), Europe (Germany, France, UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, South Africa, Saudi Arabia, and rest of LAMEA).

Major companies profiled in the report include Koninklijke Philips N.V., GE Healthcare, Siemens Healthineers, Spacelabs Healthcare, Agfa-Gevaert Group, MIM Software, Inc., Toshiba Medical Systems Corporation, ESAOTE SPA, Merge Healthcare, Inc., and Aquilab SAS.

Key Benefits For Stakeholders

This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the medical image analysis software market analysis from 2021 to 2031 to identify the prevailing medical image analysis software market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
In-depth analysis of the medical image analysis software market segmentation assists to determine the prevailing market opportunities.
Major countries in each region are mapped according to their revenue contribution to the global market.
Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
The report includes the analysis of the regional as well as global medical image analysis software market trends, key players, market segments, application areas, and market growth strategies.

Key Market Segments

By Type

Integrated
Stand-alone

By Modality

Computed Tomography
Magnetic Resonance Imaging
Ultrasound
Combined Modalities
Others

By Application

Orthopedic
Dental
Neurology
Cardiology
Oncology
Others

By End User

Hospitals
Diagnostic Centers
Others

By Region

North America
U.S.
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
LAMEA
Brazil
Saudi Arabia
South Africa
Rest of LAMEA

Key Market Players

IBM Corporation
CANON MEDICAL SYSTEMS CORPORATION
Siemens Healthineers
ESAOTE SPA
Coexya
MIM Software, Inc
Koninklijke Philips N.V.
GE Healthcare
Spacelabs Healthcare
Agfa Healthcare

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