Medical Imaging Software Market - Overview
An upsurge in the need for good software as computers become more widely used in medical treatment will effectively promote the global market. The medical imaging software provides clinicians with more particular information and facilitates data communication. As a result, more healthcare organizations are requiring and investing in such software. According to MRFR, the market is predicted to gain a CAGR of 8.4% in the duration of the forecast period.
Medical imaging software that may considerably assist in the appropriate management of patient traffic without harming service quality is required due to the rising occurrence of lifestyle-related illnesses.
Segment Analysis
The segmental analysis of the medical imaging software market has been conducted on the basis of application, imaging type, software type, modality, and end-user. By modality, the medical imaging software market has been segmented into MRI, radiography, photoacoustic imaging, nuclear medicine, echocardiography, thermography, and computed tomography (CT), ultrasound. Cardiology, urology & nephrology, dental, cancer, musculoskeletal, neurology, obstetrics & gynecology, and others are among the medical imaging software applications. Diagnostic centers, research laboratories, clinics & hospitals, and others are among the end-users in the medical imaging software industry. Based on the imaging type, the medical imaging software market comprises of 2D imaging, 3D imaging, and 4D imaging. The medical imaging software market is divided into two categories: stand-alone software and integrated software.
Regional Analysis
The regional summary of the medical imaging software market includes the Americas, the Middle East, Europe, Asia-Pacific, and Africa. Owing to enhanced clinical R&D funding by governments and public and private entities in the medical imaging industry, the Americas medical imaging software market is expected to dominate the global market. Furthermore, the increasing prevalence of the elderly population and the resulting increase in the incidence of diseases in the region contribute to market expansion. Due to the prevalence of a strong academic & research background and access to research funding in European nations, the European area is expected to occupy the subsequent primary position in the worldwide market. The medical imaging software market in Asia-Pacific is supposed to develop at the quickest rate due to a growing demand for innovative software solutions, improved healthcare infrastructure, and significant growth opportunities for key companies. The regional medical imaging software market in the Middle East and Africa is expected to account for the smallest share of the market.
Competitive Analysis
Players will benefit from seeking out new collaborations and curating value ecosystems to move faster while developing new products and services that meet customer expectations. Customer expectations and experiences are being transformed by technology, and it's occurring quicker than ever before. The COVID-19 outbreak is still changing the world as we know it, particularly in terms of how we behave and interact as organizations and as individuals. Some industries are expected to rebound faster than others, reflecting shifts in consumer behavior. The pandemic has sparked change, typically in the area of digital transformation, and a variety of projects ranging from virtual sales and service to e-commerce to data acceleration are not only swiftly becoming a new directive but are also becoming a new standard. Leaders play a critical role in implementing modern technology and data to combine processes that meet evolving needs as digital acceleration transforms industries and customer and employee expectations. The contemporary landscape drives end-to-end transformation, from the rapid adoption of new working practices to the incubation of new business models.
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The distinguished players in the medical imaging software market are ScienceSoft USA Corporation, Agfa-Gevaert N.V., Hologic Inc., Acuo Technologies, Fujifilm Holding Company, Pie Medical Imaging, Siemens Healthineers, Merge Healthcare Incorporated, GE Healthcare, Media Cybernetics, Inc., AQUILAB, MIM Software Inc., IBM Corporation, and others.
Recent Developments
Oct 2021 Intelerad Medical Systems Inc. has agreed to buy Ambra Health, a cloud-based medical image manager, for $1.7 billion in a deal worth USD 1.7 billion.
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Nov 07, 2019- Million Insights Market Research has published a new report titled ‘Medical Image Analysis Software Market – Global Industry Analysis, Size, Share, Growth, and Forecast, 2018–2026.’ Medical Image Analysis Software market report helps analyze trends and significant developments in the industry.The global Medical Image Analysis Software Market size is estimated to reach USD 4.51 billion by 2024 and is anticipated to grow with a CAGR of 8.1% throughout the forecast period.
High growth of the market is majorly attributed to the increase in usage and uptake of imaging software for the diagnosis purpose.
This technology is widely used for the diagnosis in the field of orthopedic, dental, neurology, oncology, urology and others.Request a PDF Sample @ https://www.millioninsights.com/industry-reports/medical-image-analysis-software-market/request-sampleThe largest share of around 30.0% was held by radiographic imaging in the modality segment owing to wide scale availability and cost-effectiveness, which are presumed to be key drivers for the market.
In addition, the radiation-induced side effects are minimized by use of these techniques, which is considered to be the potential factor for the segment growth.Software Type InsightsIntegrated software held the largest share of more than 55.0%.
Dominance can be attributed to high adoption of the software due to its benefits including, cost effectiveness and centralized data storage.
Also, lucrative growth rate is expected to be witnessed by stand-alone software with a CAGR of 7.5% throughout the forecast period due to its user friendly interface.Application InsightsThe major application of medical image analysis with a substantial market share was seen in the orthopedic segment in 2015.
