What Does the Historical and Current Medical Image Analysis Software Market Size Trend Indicate?
The medical image analysis software market has seen considerable growth due to a variety of factors.
• In recent years, the market size for medical image analysis software has seen a significant expansion. Projected growth from $4.08 billion in 2024 to $4.5 billion in 2025, indicates a compound annual growth rate (CAGR) of 10.4%.
Key factors contributing to this historical growth include an aging population, increased healthcare expenses, a focus on patient-centric care, global health readiness, and the ongoing clinical research and trials.
How Will the Medical Image Analysis Software Market Size Evolve over the Forecast Period?
The medical image analysis software market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of medical image analysis software is projected to significantly increase in the coming years, reaching $6.65 billion in 2029 with a compound annual growth rate (CAGR) of 10.2%.
Factors such as precision medicine, disease diagnosis and monitoring, reduction of interpretation errors, remote image analysis services, and quantitative imaging biomarkers are contributing to this growth in the predicted period. Key trends during this period are expected to be 3D and 4d imaging, sustainable imaging solutions, automation powered by artificial intelligence (AI), improved data security and privacy, and advancements in medical imaging.
What Are The Core Factors Supporting Growth In The Medical Image Analysis Software Market?
The projected rise in chronic diseases is likely to fuel the expansion of the medical image analysis software market. Chronic illnesses, typified by persisting for three months or longer with the likelihood of deteriorating over time, can effectively be pinpointed through medical imaging. This enables healthcare professionals to diagnose diseases like cancer, diabetes etc., in their initial stages, thereby enhancing patient prognosis. Implementing early treatment and diagnosis can render such diseases more controllable, positioning this innovative technology as a real game changer. For instance, the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, revealed in January 2023, that there will be around 142.66 million individuals suffering from chronic diseases globally by 2050, doubling from 71.522 million in 2020. Consequently, the rising prevalence of chronic illnesses is powering the advancement of the medical equipment calibration services market.
What Are The Major Segments Within The Global Medical Image Analysis Software Market?
The medical image analysis software market covered in this report is segmented –
1) By Type: Integrated Software, Standalone Software
2) By Image Type: 2D Image, 3D Image, 4D Image
3) By Modality: Tomography, Ultrasound Imaging, Radiographic Imaging, X-ray Imaging, MRI, Other Modalities
4) By Application: Orthopedics, Dental Application, Neurology, Cardiology, Oncology, Obstetrics and Gynecology, Mammography, Other Applications
5) By End User: Hospital, Diagnostic Center, Research Center, Other End Users
Subsegments:
1) By Integrated Software: Picture Archiving And Communication Systems (PACS), Radiology Information Systems (RIS), Electronic Health Records (EHR) With Imaging Modules
2) By Standalone Software: Image Processing Software, Visualization Software, Diagnostic Software
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Which Trends Are Expected To Transform The Medical Image Analysis Software Market?
A rising trend in the medical image analysis software market is the emphasis on product innovation. To assert their dominance in the market, key companies are keen on crafting high-tech software solutions. One such company is Koninklijke Philips N.V., a conglomerate corporation based in the Netherlands, which, in March 2022, introduced new cloud-enabled enterprise imaging informatics and analytics solutions. These new solutions are a part of Philips' Data Management and Interoperability Solutions portfolio and are aimed at boosting workflow efficiency and heightening satisfaction levels among patients and staff. Their HealthSuite Interoperability, a cloud-run health IT platform, integrates third-party systems and optimizes data work processes for diverse data types and formats. This platform also enhances care planning and synchronization by offering clinical and operational analytics. Furthermore, they have expanded their Enterprise Performance Analytics - Performance Bridge to encompass cardiology alongside radiology, providing operational insights and elevating the efficacy in care delivery.
Who Are the Key Players in the Medical Image Analysis Software Market?
Major companies operating in the medical image analysis software market include:
• Aquilab SAS
• Carestream Health Inc.
• Esaote S.p.A
• GE HealthCare Technologies Inc.
• Image Analysis Group
• INFINITT Healthcare Co. Ltd.
• Merge Healthcare Inc.
• MIM Software Inc.
• Mirada Medical Limited
• Philips Healthcare
• ScienceSoft USA Corporation
• Siemens AG
• Toshiba Medical Systems Corporation
• Xinapse Systems Ltd.
• AGFA Healthcare
• Aktien-Gesellschaft für Anilin-Fabrikation Group
• Aidoc Medical
• Arterys Inc.
• Blackford Analysis Ltd.
• Butterfly Network Inc.
• Canon Medical Systems Corp.
• ContextVision AB
• Fujifilm Medical Systems Corp.
• Hologic Inc.
• Life Image Inc.
• Mirai Medical Co.
• Nines Radiology inc.
• PathAI Inc.
• Pie Medical Imaging BV
• Quibim
• Riverain Technologies
• Sectra AB
• Spintech Holdings inc.
• Subtle Medical Inc.
What Is The Most Dominant Region In The Medical Image Analysis Software Market?
North America was the largest region in the medical image analysis software market in 2024. The regions covered in the medical image analysis software market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
