4D Imaging Sets the Ball Rolling for New Players in Medical Image Analysis Software

Medical imaging involves the creation of different types of visual representations of the human anatomy and its physiological functions. The primary focus of medical imaging is to help doctors identify signs and symptoms of illnesses that may be difficult to diagnose otherwise. Medical imaging can also help study bones, organs, muscles, as well as anomalies such as tumors and disfigurements. In all cases, the use of medical imaging requires the use of an optimized software that can fully analyze the given image to speed up the diagnosis procedure.

Global Medical Image Analysis Software Market is expected to expand at a very bright CAGR of 8.10% from 2016 to 2024. The market was valued at US$2.35 bn in 2015 and is likely to reach US$4.66 bn by the end of 2024.

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The rising number of cancer-afflicted patients is currently the primary reason why the healthcare industry is pushing for advancements in medical imaging and the global medical image analysis software market. Cancer and cardiovascular diseases are among the top reasons for deaths in the world, fuelled by several factors, including exposure to carcinogenic materials, an increasingly sedentary lifestyle, the growing consumption of alcohol and tobacco, and people leading an increasingly stressful and hectic life.

From the perspective of the healthcare industry, several factors are helping more and more hospitals and medical organizations provide medical imaging equipment and services, boosting the growth rate of the global medical image analysis software market. The overall expenditure in the healthcare industry has been rising at a consistently high rate over the recent years and the industry is further fueled by government initiatives, private investments, and above all, a growing rate of awareness regarding modern diagnostic and treatments available, pumping the demand for medical imaging and the analysis for them.

The advent of 4D imaging in diagnostics has certainly made a lasting impact on the global medical image analysis software market. 4D imaging can provide a highly detailed visual representation of the anatomy in terms of temporal and spatial processes in blood flow as well as give a complete view of the body’s cardiac area. Barring the very high cost of installation, operation, and maintenance of 4D imaging equipment, it is likely to be a widely accepted method across multiple medical avenues. A lot of key players in the medical imaging market are already offering 4D imaging devices across modalities such as CT/PET, ultrasound and MRI. This is very likely to significantly improve the growth rate of the global medical image analysis software market over the coming years.

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Name: Rohit Bhisey
Organization: Transparency Market Research

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