Medical Image Analysis Software Market by Type (Integrated), Images (2D, 3D, 4D), Modality (CT, MRI, PET, Ultrasound), Application (Orthopaedic, Oncology, Neurology, Mammography, Dental), End User (Hospital, Diagnostic Center) and region (North America, Europe, Asia-Pacific, Middle East and Africa and South America).
The global Medical Image Analysis Software Market size is projected to reach a CAGR of 7.8% from 2023-2030.
Medical imaging is referred to as a process of creating a visual portrayal of a body for clinical analysis and medical intervention. The scanning software develops images that are stored in the computer’s memory and are later analyzed. The analysis is a process to enhance the quality of images and the quantitative aspects. The analysis is carried out using a computer-aided diagnosis and data-driven optimized image registration and segmentation.
A rise in demand for diagnostic imaging software in fields, such as dental, orthopedics, urology, neurology, and oncology, is likely to contribute to the market growth. The growing adoption of ultrasound imaging systems to facilitate faster diagnosis, particularly of chronic diseases, is expected to propel the demand. In addition, continuous developments in the field of imaging technology, such as Computer-aided Diagnosis (CAD), are anticipated to bolster the demand for these platforms. The introduction of Artificial Intelligence (AI) in medical imaging has changed the market dynamics in recent years and is anticipated to positively influence growth shortly.
On the other hand, budgetary constraints are likely to hamper market growth during the forecast period.
The ongoing COVID-19 pandemic has negatively affected the medical image analysis software industry. Government bodies across the globe are focusing to curb COVID-19 with stringent measures, such as social distancing, nationwide lockdowns, and large-scale quarantine to prevent the spread of the coronavirus. Due to the outbreak of the coronavirus disease COVID-19, clinic visits were either cancelled or postponed, which, in turn, hampered the market growth.
The Medical Image Analysis Software Market report, the market is expected to grow significantly in the coming years due to factors such as an increasing prevalence of chronic diseases, technological advancements in medical imaging, and a growing demand for efficient and accurate diagnostic tools. The report indicates that North America is currently the largest market for medical image analysis software due to the presence of major players and the high adoption rate of advanced medical technologies. However, the Asia Pacific region is expected to witness the fastest growth in the market due to the growing healthcare infrastructure and rising investments in healthcare technology.
North America to Dominate the Market