Medical Image Analysis Software Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What fueled the previous growth in the medical image analysis software market?
The market size of medical image analysis software has experienced substantial growth lately. It is forecasted to escalate from $4.08 billion in 2024 to $4.5 billion in 2025, witnessing a compound annual growth rate (CAGR) of 10.4%. The expansion observed in the preceding periods can be connected to an aging population, increase in healthcare expenditures, focus on care centered around patients, international health readiness, and clinical trials and research.
What will be the medical image analysis software market size in the future?
The market size for medical image analysis software is predicted to experience significant expansion in the coming years, with expectations to reach $6.65 billion by 2029, following a compound annual growth rate (CAGR) of 10.2%. The anticipated growth over this forecast period is associated with factors such as precision medicine, disease diagnosis and monitoring, reduction in interpretation mistakes, remote image analysis services, and quantitative imaging biomarkers. Noteworthy trends projected for this period encompass 3D and 4D imaging, sustainable imaging solutions, automation improved by artificial intelligence (ai), data security and privacy, along with advancements in medical imaging.
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What main drivers are fueling expansion in the medical image analysis software market?
The surge in chronic disease cases is predicted to spur the expansion of the medical image analysis software market. Chronic diseases typically last more than three months and have the potential to progressively deteriorate. Medical imaging allows health professionals to detect diseases like cancer and diabetes early on, enhancing patient outcomes. Early disease diagnosis and intervention can make conditions more manageable, illustrating the real world, life-changing implications of this advanced technology. For example, the National Center for Biotechnology Information (NCBI), a US National Library of Medicine, forecasted in January 2023 that there would be 142.66 million chronic disease patients globally by 2050, an elevation from the 71.522 million in 2020. Hence, the escalating occurrences of chronic diseases are fueling the expansion of the medical equipment calibration services market.
What key areas define the segmentation of the global medical image analysis software market?
The medical image analysis software market covered in this report is segmented –
1) By Type: Integrated Software, Standalone Software
2) By Image Type: 2D Image, 3D Image, 4D Image
3) By Modality: Tomography, Ultrasound Imaging, Radiographic Imaging, X-ray Imaging, MRI, Other Modalities
4) By Application: Orthopedics, Dental Application, Neurology, Cardiology, Oncology, Obstetrics and Gynecology, Mammography, Other Applications
5) By End User: Hospital, Diagnostic Center, Research Center, Other End Users
Subsegments:
1) By Integrated Software: Picture Archiving And Communication Systems (PACS), Radiology Information Systems (RIS), Electronic Health Records (EHR) With Imaging Modules
2) By Standalone Software: Image Processing Software, Visualization Software, Diagnostic Software
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Who are the dominant players expanding their reach in the medical image analysis software market?
Major companies operating in the medical image analysis software market include Aquilab SAS, Carestream Health Inc., Esaote S.p.A, GE HealthCare Technologies Inc., Image Analysis Group, INFINITT Healthcare Co. Ltd., Merge Healthcare Inc., MIM Software Inc., Mirada Medical Limited, Philips Healthcare, ScienceSoft USA Corporation, Siemens AG, Toshiba Medical Systems Corporation, Xinapse Systems Ltd., AGFA Healthcare, Aktien-Gesellschaft für Anilin-Fabrikation Group, Aidoc Medical, Arterys Inc., Blackford Analysis Ltd., Butterfly Network Inc., Canon Medical Systems Corp., ContextVision AB, Fujifilm Medical Systems Corp., Hologic Inc., Life Image Inc., Mirai Medical Co., Nines Radiology inc., PathAI Inc., Pie Medical Imaging BV, Quibim, Riverain Technologies, Sectra AB, Spintech Holdings inc., Subtle Medical Inc.
How are evolving market trends shaping medical image analysis software Strategies?
The increased focus on product innovation is becoming a prominent trend in the medical image analysis software market. To establish a robust market presence, top players in this industry are working on creating technologically superior software solutions. In March 2022, a conglomerate corporation based in the Netherlands, Koninklijke Philips N.V., unveiled its latest cloud-based enterprise imaging informatics and analytics solutions. These solutions, which are part of Philips’ Data Management and Interoperability Solutions suite, aim to increase the efficiency of workflow and improve the experience of both patients and staff. The cloud-enabled health IT platform, HealthSuite Interoperability, links third-party systems and smoothens data workflows, and accept various data types and formats. It improves care planning and coordination by offering clinical and operational analytics. Moreover, the platform known as Philips’ Enterprise Performance Analytics – Performance Bridge has expanded its comprehensive analytics from radiology to cardiology, providing operational insights and enhancing the quality in care delivery.
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Which regions are emerging as leaders in the medical image analysis software market?
North America was the largest region in the medical image analysis software market in 2024. The regions covered in the medical image analysis software market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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