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Report Scope & Overview:

The Medical Image Analysis Software Market Size was valued at USD 3 billion in 2022 and is expected to reach USD 5.27 billion by 2030 and grow at a CAGR of 7.3% over the forecast period 2023-2030.

Medical imaging is a science that uses digital imaging techniques to analyze and solve a patient's medical problems. It is actually a method that creates an image of the human body inside, revealing the genetic makeup and functions of certain organs or tissues, which helps in diagnosing and treating diseases. Subsequent diagnosis and treatment of many diseases use a variety of medical imaging techniques, such as computed tomography (CT) scan and magnetic resonance imaging (MRI).

Medical Image Analysis Software Market Revenue Analysis

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Medical personnel can track, preserve, alter, and manage patient photographs and administrative workflow with the help of medical imaging software. Diagnostic equipment's use of medical image analysis software is crucial since it enhances a picture's qualities, making medical treatment more effective and efficient. Medical data can be stored, viewed, trained on, and shared using this program.

MARKET DYNAMICS

DRIVERS

  • Medical imaging systems and analytics software have made great strides in technology.

  • Increasing investment from public and private companies in the medical thought market

  • Chronic diseases are becoming more common

  • Computer-assisted diagnostics are widely used

RESTRAINTS

  • Financial limitations

OPPORTUNITIES

  • Image analysis tools available in the cloud

  • Unknown developing markets

CHALLENGES

  • Vendors of independent software have a market share

  • Security and regulatory difficulties with software

  • Radiologists are in short supply

IMPACT OF COVID-19

Every industry could experience the detrimental effects of the COVID-19 disruptions. All focus was turned to covid management since the health system was overwhelmed. Consequently, there was a small decline in overall demand.

Nevertheless, during that time, the demand for such software and automated devices has increased. It is anticipated that significant investments made in the health sector by various governments will fuel continued demand development.

By Type

The majority of the market is occupied by standalone software. These programmes are more dependable, safe, and user-friendly. They can analyse and process data with little help from an outside network. During the current projected period, the Standalone software category is also anticipated to exhibit the greatest CAGR.

By Image Type

The greatest market for medical imaging software is 4D imaging. The 3D images of bodily components are provided concurrently with their real-time movements in 4D imaging, which is one of its many benefits. The market for medical imaging software accounted for around 45% of the total. In addition, there is a thriving industry for 3D imaging, which offers affordable 3D images for accurate analysis.

By Modality Type

The largest market sector for various modalities is computed tomography (CT). Through CT, viewers can see a precise image of blood arteries, internal organs, soft tissues, and even bones. Due to its low cost and many application possibilities, radiography comes in second to CT in terms of market share. However, due to its comparatively lower health risk and the more informative data it can produce, ultrasound technology is the market sector with the quickest growth.

By Application

Imaging software is used more frequently in the field of cardiology than in any other. The rise in heart diseases and this fact are related. Additionally, quick advancements in cardiac imaging technology are supporting expansion. Therefore, it is anticipated that the market for medical imaging software would grow at a faster CAGR than the overall industry over the current projection period.

BY End User

Clinics and hospitals, among other end users, drive the majority of demand for imaging software. 40 per cent of the market was accounted for by this sector. This software can significantly improve the productivity of medical staff members and save expenses across the board. As a result, hospitals and clinics are eager to invest in such technologies.

KEY MARKET SEGMENTS:

By Type

  • Integrated Software

  • Standalone Software

By Image Type

  • 2D imaging

  • 3D imaging

  • 4D imaging

By Modality type

  • Tomography

  • Radiographic Imaging

  • Ultrasound Imaging

  • Mammography

  • Combined Modalities

By Application

  • Cardiology

  • Orthopedics

  • Oncology

  • Neurology

  • Obstetrics and Gynecology

  • Mammography

  • Dental

  • Respiratory

  • Urology & Nephrology

By End User

  • Hospitals

  • Diagnostic Imaging Centers

Medical Image Analysis Software Market Segmentation Analysis

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REGIONAL ANALYSIS

The largest portion of global revenue came from North America, which controlled the market. This development is attributable to the availability of established healthcare facilities with cutting-edge diagnostic tools and supportive government programmes for the implementation of healthcare IT in this area. The expansion of the regional market is also being aided by rising R&D expenditures and the presence of important industry competitors. In order to increase patient access globally, MIM Software Inc. launched a partnership with Genesis Care, a global supplier of comprehensive cancer care.

REGIONAL COVERAGE

  • North America

    • USA

    • Canada

    • Mexico

  • Europe

    • Germany

    • UK

    • France

    • Italy

    • Spain

    • The Netherlands

    • Rest of Europe

  • Asia-Pacific

    • Japan

    • south Korea

    • China

    • India

    • Australia

    • Rest of Asia-Pacific

  • The Middle East & Africa

    • Israel

    • UAE

    • South Africa

    • Rest of Middle East & Africa

  • Latin America

    • Brazil

    • Argentina

    • Rest of Latin America

KEY PLAYERS:

Some of the major key players are Agfa-Gevaert Group, ESAOTE SPA, Aquilab SAS., GE Healthcare, Koninklijke Philips N.V., MIM Software, Inc., Spacelabs Healthcare, Merge Healthcare, Inc., Siemens Health ineers, Toshiba Medical Systems Corporation, and other players.

Agfa-Gevaert Group-Company Financial Analysis

Medical Image Analysis Software Market Report Scope:

Report Attributes Details
Market Size in 2022 US$ 3 Billion
Market Size by 2030 US$ 5.27 Billion
CAGR CAGR of 7.3% From 2023 to 2030
Base Year 2022
Forecast Period 2023-2030
Historical Data 2020-2021
Report Scope & Coverage Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments • By Type (Integrated Software, Standalone Software)
• By Image Type (2D imaging, 3D imaging, 4D imaging)
• By Modality type (Tomography, Radiographic Imaging, Ultasound Imaging, Mammography, Combined Modalities)
• By Application (Cardiology, Orthopedics, Oncology, Neurology, Obstetrics and Gynaecology, Mammography, Dental, Respiratory, Urology & Nephrology)
• By End User (Hospitals, Diagnostic Imaging Centers)
Regional Analysis/Coverage North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
Company Profiles Agfa-Gevaert Group, ESAOTE SPA, Aquilab SAS., GE Healthcare, Koninklijke Philips N.V., MIM Software, Inc., Spacelabs Healthcare, Merge Healthcare, Inc., Siemens Health ineers, Toshiba Medical Systems Corporation, and other players.
Key Drivers • Medical imaging systems and analytics software have made great strides in technology.
• Increasing investment from public and private companies in the medical thought market
• Chronic diseases are becoming more common
Restraints • Financial limitations

Frequently Asked Questions

Ans: The Medical Image Analysis Software Market size was valued at US$ 28.24 billion in 2022.

Ans: The Medical Image Analysis Software Market is growing at a CAGR of 4.6% over the forecast period 2023-2030.

 Agfa-Gevaert Group, ESAOTE SPA, Aquilab SAS., GE Healthcare, Koninklijke Philips N.V., MIM Software, Inc., Spacelabs Healthcare are the key players of Medical Image Analysis Software market

The largest portion of global revenue came from North America.

 Increasing investment from public and private companies in the medical thought market, Chronic diseases are becoming more common are the key drivers of the Medical Image Analysis Software market

Table of Contents

1. Introduction

1.1 Market Definition

1.2 Scope

1.3 Research Assumptions

2. Research Methodology

3. Market Dynamics

3.1 Drivers

3.2 Restraints

3.3 Opportunities

3.4 Challenges

4. Impact Analysis

4.1 COVID-19 Impact Analysis

4.2 Impact of Ukraine- Russia war

4.3 Impact of ongoing Recession

4.3.1 Introduction

4.3.2 Impact on major economies

4.3.2.1 US

4.3.2.2 Canada

4.3.2.3 Germany

4.3.2.4 France

4.3.2.5 United Kingdom

4.3.2.6 China

4.3.2.7 Japan

4.3.2.8 South Korea

4.3.2.9 Rest of the World

5. Value Chain Analysis

6. Porter’s 5 forces model

7.  PEST Analysis

  

8. Medical Image Analysis Software Market Segmentation, By Type

8.1 Integrated Software

8.2 Standalone Software

9. Medical Image Analysis Software Market Segmentation, By Image Type

9.1 2D imaging

9.2 3D imaging

9.3 4D imaging

10. Medical Image Analysis Software Market Segmentation, By Modality type

10.1 Tomography

10.2 Radiographic Imaging

10.3 Ultasound Imaging

10.4 Mammography

10.5 Combined Modalities

11. Medical Image Analysis Software Market Segmentation, By Application

11.1 Cardiology

11.2 Orthopedics

11.3 Oncology

11.4 Neurology

11.5 Obstetrics and Gynecology

11.6 Mammography

11.7 Dental

11.8 Respiratory

11.9 Urology & Nephrology

12. Medical Image Analysis Software Market Segmentation, By End User

12.1 Hospitals

12.2 Diagnostic Imaging Centers

13. Regional Analysis

13.1 Introduction

13.2 North America

13.2.1 USA

13.2.2 Canada

13.2.3 Mexico

13.3 Europe

13.3.1 Germany

13.3.2 UK

13.3.3 France

13.3.4 Italy

13.3.5 Spain

13.3.6 The Netherlands

13.3.7 Rest of Europe

13.4 Asia-Pacific

13.4.1 Japan

13.4.2 South Korea

13.4.3 China

13.4.4 India

13.4.5 Australia

13.4.6 Rest of Asia-Pacific

13.5 The Middle East & Africa

13.5.1 Israel

13.5.2 UAE

13.5.3 South Africa

13.5.4 Rest

13.6 Latin America

13.6.1 Brazil

13.6.2 Argentina

13.6.3 Rest of Latin America

14. Company Profiles

14.1 Agfa-Gevaert Group

              14.1.1 Financial

14.1.2 Products/ Services Offered

14.1.3 SWOT Analysis

14.1.4 The SNS view

14.2 ESAOTE SPA

14.3 Aquilab SAS.

14.4 GE Healthcare

14.5 Koninklijke Philips N.V.

14.6 MIM Software, Inc.

14.7 Spacelabs Healthcare

14.8 Merge Healthcare, Inc.

14.9 Siemens Healthineers

14.10 Toshiba Medical Systems Corporation

15. Competitive Landscape

15.1 Competitive Benchmark

15.2 Market Share Analysis

15.3 Recent Developments

16. Conclusion

An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.

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The 5 steps process:

Step 1: Secondary Research:

Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.

Secondary Research

Step 2: Primary Research

When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data.  This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.

We at SNS Insider have divided Primary Research into 2 parts.

Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.

This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.

Primary Research

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Data Bank Validation

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