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Medical image software comprises of visualization, image processing and analytical tools that offer quantitative analysis of medical images obtained from PET, CT scan, MRI, Microscopy etc. for effective diagnosis of medical disorders. Increasing utilization of medical image analysis software in next generation sequencing is trending in the market. Medical sector companies and academic centres that include Next Bio (Illumina), Strand genomics, Core diagnostics, Foundation medicine and others have largely invested in the development of analysis software and algorithms in order to interpret next generation sequencing data.
Cloud-based image analysis solutions is the fastest Growing opportunity which is acting as key trend to the medical imaging analysis software market in the forecasting period. Cloud computing delivers storage services, software, computation, and data access that do not requirement of end-user knowledge of the configuration of the system and physical location that provide the services.
The major drivers of global medical image analysis software market include:
The enhancement in the usage of imaging tools & equipments such as HCA-Vision, Precision X-rays, X-RAD and MRI scanner is acting as the key driver in the development and expansion of global medical imaging software analysis market on the global scenario. These imaging tools & equipments help in diagnosis and detection of diseases or broken tissues. global medical image analysis software market is expected to have the CAGR of 8.1% during the forecast period 2016-2023.
Cloud Computing application is expanding significantly in medical imaging analysis software market. Cloud computing providers distribute applications via the Internet, which are retrieved from mobile apps, web browsers, and desktop. HCA-Vision, X-TRACT and MILX view providing user-friendly admittance to cloud computing resources and new workflow-based interfaces, and to handle workloads ranging from application mechanisms to high performance computing applications. There are many more supporting factors which impact positively on the market of medical image analysis software market such as due to rapid increase in demand for technically progression market for imaging devices, increasing investment in medical imaging technologies, increasing geriatric population, due to increasing huge number of enduring research activities and growth in the number of new and advanced products being launched in developing Asian countries.
Dynamika Cloud Platform is the industry leading software stage for providing intelligent trial stakeholder management and clinical trials phase I-IV as well. Dynamika carries the most innovative wounding edge image investigation developments that permits the readers to conduct the state-of-the-art assessment of the probationary data. This is a pure web-browser solution with compatibility to any scanner or PACS which needs no further software or hardware download for the site or reader. The overall demand for new innovative solutions has seen investments raise exponentially in R&D. North America is one of the region which anticipated to dominate the market, followed by Europe and Asia-Pacific. Dynamika cloud platform provides many of the medical services such as transfer, manage and acquire imaging data through which the secure cloud infrastructure, conduct fully expert and automated data quality control and deploy standardized and advanced imaging algorithms across the sites. There are many of the recent advancements which are taking place in recent days such as CT scans, MRIs, PET scans, and many of the others also which have a huge impact on the treatment of disease and diagnosis.
Source: OBRC Analysis
The report is widely categorized on the basis of market segments which include software, image, modality and end user. Software is further segmented into:
Image is further segmented into:
Modality is further sub segmented into:
End User is further sub segmented into:
Application is further sub segmented into:
The global medical image analysis software market is segmented on the basis of image which is subdivided into 2D imaging, 3D imaging, and 4D imaging, software is subdivided into integrated software and standalone software, and modality is subdivided into tomography (Computed Tomography (CT), Magnetic Resonance Imaging (MRI), Positron Emission Tomography (PET) and Single-Photon Emission Tomography (SPECT)), ultrasound imaging, radiographic imaging, and combined modalities. Application is subdivided into orthopaedic application, dental applications, neurology, cardiology application, oncology applications, oncology applications, mammography applications and urology and nephrology applications. In terms of application, cardiology segment is expected to have fastest growth rate due to the increasing in establishment of medical imaging systems implemented for the diagnosis of cardiovascular diseases (CVDs), which includes Merge Cardio, which assimilates digital health records from several cardiology-based modalities therefore endowing cardiologists with widespread patient record files with further characteristics, such as distant location access, along with the high occurrence rate of the CVDs synergistically enhancing the growth of this segment. On the other hand, diagnostic centres are expected to fuel the market demand of medical image analysis software market due to government initiatives in this direction and growing number of imaging diagnostic labs. According to the Moldovan Ministry of Health along with International Finance Corporation, they are trying to private sector investors through public-private partnerships to modernize radiology, set up diagnostic imaging. End-user is subdivided into hospitals, diagnostic centres, and research centres. The ultrasound imaging segment is estimated to be the fastest growing segment on the basis of modality due to its correctness and as it permits quick analysis. Furthermore, the risk of radiation-induced side-effects is comparatively low with this technique. All these aforesaid factors are contributing towards a stable market growth during the forecast period.
North America is expected to dominate the market, followed by Europe and Asia-Pacific. North America is accounted to be the largest market share nearly 35% for medical image analysis software due to huge demand for post-diagnostic treatment and better detection. Many of the major factors such as increasing geriatric population, technological innovations & advancements in medical imaging system, and auspicious compensation policies are enhancing the medical image analysis software market in North America. Europe has been adopting the latest healthcare systems to provide better care and treatment for patients. The European healthcare market has comprehensive and updated technology. The Europe Medical Imaging Analysis Software market is mainly driven by the rising prevalence of chronic disorders such as cancer and cardiovascular disorders. Though, Asia Pacific is projected to be growing upward at the fastest CAGR of over 9.5% during the prediction period due to the increasing saturation of the medical imaging systems in fast developing economies of the Asia Pacific region, such as India and China. Asia-Pacific is projected to witness higher growth in the forecasting years, due to government initiatives for the alteration of healthcare infrastructure. Increasing number of enduring research activities and growth in the number of new and advanced products being launched in developing Asian countries is driving the market.
The major market players of the global medical image analysis software market are:
June 9, 2016 Philips Healthcare, announced to invest $835 million in healthcare for the future expansions of its business worldwide. Philips Healthcare also launched a new advanced diagnostic equipment which has been developed and designed at its one of the two R&D centres one of which is in India (Pune). One of the two products exposed are the Mobile DiagnostOpta, digital X-Ray system for use in limited spaces like rigorous care units and operations theatres. The second one is, BV Vectra is a mobile C-arm system devoted to orthopaedic surgical procedures. There are many of the other key manufacturing companies engaged in GLOBAL MEDICAL IMAGE ANALYSIS software such as Esaote S.p.A (Italy), Agfa HealthCare (Belgium), Carestream Health, Inc. (U.S.), Aquilab (France), GE Healthcare (U.K.), MIM Software Inc. (U.S.), Philips Healthcare (Netherlands), Merge Healthcare, Inc. (U.S.), Siemens Healthcare (Germany), and Toshiba Medical Systems Corporation (Japan).
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At Occams we provide an extensive portfolio which is comprehensive market analysis along with the market size, market share, and market segmentations. Our report on global medical image analysis software market offers the longest chain of market segmentation covering major market segmentation based on products and end users. The report tracks the major market trends in the global medical image analysis software market such as growth and innovations in products & equipments and rising demand for technically progression& diagnosis of diseases and so on. For each market segments covered in global medical image analysis software report, we provide opportunity matrix, and DROC analysis, that enable the clear growth assessment across each market segment. The report discusses competitive landscape of the Medical Imaging Analysis software industry, with giving extensive strategy analysis of more than 15 companies. Moreover, the report discusses various models such as 360 degree analysis, See Saw analysis, and Porter five force model and so on. For the high level analysis in the report we provide a comparative analysis of historic and current year data.
Key findings of global medical image market are as follows: