Global Medical Image Analysis Software Market is Projected to Reach USD USD 5.97 Billion Billion by 2028

Medical Image Analysis Software
  • Medical Image Analysis Software Market

The globalMedical Image Analysis Software Market was valued at USD USD 3.52 Billion billion in 2021 and is expected to grow to USD USD 5.97 Billion billion by 2028, with a compound annual growth rate (CAGR) of 7.9% between 2022 and 2028. Medical imaging software allows medical professionals to track, archive, manipulate, and manage patient images and administrative workflow. Medical image analysis software is an important part of diagnostic machines and it helps to enhance the features of an image thereby increasing the effectiveness and efficiency of medical treatment. This software is for storing, viewing, training, and sharing medical data.

Growing applications of computer-aided diagnosis computer-aid diagnosis (CAD) aims to provide a way to interpret data using computer software. CAD combines image processing, computer imaging, mathematics, physics, and mathematics into computer techniques that assist radiologists in analyzing and making decisions. Medical image analysis with CAD includes image enhancement, initial acquisition, and removal of image elements, including merging. This procedure helps radiologists to minimize manual errors in interpreting the data and also helps to diagnose abnormalities that are often missed during manual analysis procedures. This procedure was originally used for mammographic image analysis; however, its use has increased in the detection and analysis of lung, lung, liver, and prostate cancers. Therefore, the growing use of CAD image analysis technology is expected to boost the growth of the image analysis software market.

The high cost of photography equipment, combined with the high usage and cost of software licenses, is a major factor hindering market growth, especially in countries where the recovery rate is poor. Due to the high cost of these programs and low financial resources, health care institutions in developing countries are reluctant to invest in new or more technologically advanced programs. These factors can reduce digital productivity in health facilities and contribute to the adoption of advanced diagnostic and diagnostic technologies. Security risks of data stored, high installation cost, and maintenance hinder the market growth. Conversely, the introduction of Artificial Intelligence (AI) in medical imaging has changed the market dynamics in recent years and is anticipated to propel the growth of the market during the forecast period.

The medical imaging analysis software market is segmented on the basis of type, integrated software, and independent software. On the basis of applications, the market is divided into orthopedics, dental application, neurology, cardiology, oncology, obstetrics and gynecology, mammography, respiratory applications, urology, and nephrology. While on the basis of end-user, the market is divided into hospitals, diagnostic centers, and research centers. The medical imaging analysis software can be bifurcated depending upon image type into 2D, 3D, and 4D imaging. The different modalities in medical image analysis software mainly include traumatic brain injury (TBI), ultrasound imaging, radiographic imaging, and combined modalities in the form of PET/CT, SPECT/CT, and MR/CT.

The Global Medical Image Analysis Software Market is spread over North America, Europe, Asia Pacific, and the rest of the world. The Asia Pacific is expected to show positive growth over the next few years due to the growing adoption of medical imaging software by health professionals in the region. Growing awareness about the benefits associated with these programs is an important factor that is expected to drive growth. In addition, the increase in health care costs and higher income levels in countries such as China and India contribute to industrial growth.

Some of the major players working in the global medical image analysis software market include - AQUILAB (France), AGFA Healthcare (Belgium), Carestream Health, Inc. (US), Esaote S.p.A (Italy), INFINITT Healthcare Co, Ltd. (South Korea), GE Healthcare (US), Image Analysis (UK), MIM Software Inc. (US), Merge Healthcare, Inc. (US), Mirada Medical Limited (UK), ScienceSoft USA Corporation (US), Philips Healthcare (Netherlands), Siemens Healthineers (Germany), Xinapse Systems Ltd. (UK), and Toshiba Medical Systems Corporation (Japan)..