What Will The Medical Imaging Displays And Post Processing Software Market Look Like In 2023?
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
The Business Research Company’s medical imaging displays and post processing software market report forecasts the medical imaging displays and post processing software market size to grow to $8.31 Billion by 2027, with a CAGR (compound annual growth rate) of more than 12%.
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Medical Imaging Displays And Post Processing Software Market Size Forecast
The global medical imaging displays and post processing software market is expected to grow from $4.45 billion in 2022 to $5.11 billion in 2023, at a compound annual growth rate (CAGR) of 14.88%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The medical imaging displays and post processing software market size is expected to grow to $8.31 billion in 2027 at a CAGR of 12.39%.
North America held the largest medical imaging displays and post processing software market share, and Asia-Pacific was the fastest-growing region in 2022.
Key Medical Imaging Displays And Post Processing Software Market Driver – Increase In Digitisation Of Medical Imaging
For instance, in September 2020, according to a report published in 2022 by National Health Service England, a UK governmental department, 40.4 million imaging tests were recorded between June 2019 and May 2020 in England. 1.91 million imaging tests were claimed to have been performed in May 2020. Therefore, the enormous use of digitisation of medical imaging is driving the growth of the medical imaging displays and post-processing software market.
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Key Medical Imaging Displays And Post Processing Software Market Trend – Technology Innovations
Major companies operating in the market are developing software using innovative technologies such as artificial intelligence (AI), augmented reality (AR) and virtual reality (VR), three-dimensional printing, cinematic rendering and digital twin technology and others to sustain their position in the market and provide advanced solutions. Artificial intelligence (AI) is a revolutionary technology that analyses complex data using computerised algorithms. Diagnostic imaging is one of the most exciting uses of AI in medicine. With the potential to improve tissue-based detection and characterisation, AI has demonstrated outstanding accuracy and sensitivity in identifying imaging abnormalities. For instance, in November 2021, Philips, a Netherlands-based health technology company, launched a new AI-enabled innovation in MR imaging. The new intelligent integrated MR portfolio from Philips is made to maximise diagnostic quality, accelerate workflows, and assure the effectiveness and sustainability of radiology operations. Such advancement by healthcare companies will lead to more efficient use of medical imaging displays and post-processing software.
Medical Imaging Displays And Post Processing Software Market Segment
1) By Type: Medical Imaging Displays, Post-Processing Software
2) By Technology: X-ray, Computed Tomography (CT), Ultrasound, Magnetic Resonance Imaging (MRI), Single-Photon Emission Computed Tomography (SPECT), Positron Emission Tomography (PET)
3) By Image: 2D, 3D, 4D
4) By Application: Medical, Commercial, Academic
Medical Imaging Displays And Post Processing Software Market Major Players and Strategies
Major players in the medical imaging displays and post processing software market are Carestream Health, Esaote SpA, GE Healthcare, Softneta, mediCAD Hectec GmbH, Siemens Medical Solutions USA Inc., Hitachi Ltd., Koninklijke Philips NV, Shimadzu Corporation, 3dMD, Alma Medical Imaging, Barco NV, EDDA Technology Inc., Hologic Inc., and MEDIAN Technologies.
In April 2021, Siemens Healthineers AG, a Germany-based medical device company, acquired Varian Medical Systems Inc. for an undisclosed amount. With the acquisition of Varian, Siemens Healthineers would address the expanding demand for individualised, data-driven cancer diagnostics and precision care to combat the world’s rising cancer rates. Siemens Healthineers has the broadest portfolio in the MedTech industry, which presents a significant opportunity for value generation for the business. Varian Medical Systems Inc. is a US-based manufacturer of software and medical devices, including medical imaging display and post-processing software.
The Medical Imaging Displays And Post Processing Software Global Market Report 2023 covers regional data on medical imaging displays and post processing software market size, medical imaging displays and post processing software market trends and drivers, opportunities, strategies, and medical imaging displays and post processing software market competitor analysis. The countries covered in the medical imaging displays and post processing software market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.
Medical imaging systems use high-frequency sound waves (ultrasound and echocardiography), magnetic fields (MRI), and electromagnetic radiation to provide medical professionals and researchers with the necessary information. Enhancing diagnostic interpretation is the main objective of digital picture post-processing in medical imaging. Medical imaging displays and post-processing software are used in surgery by radiologists and surgeons to view and examine images produced by imaging techniques like CT and MRI.
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