Medical Image Analysis Software Market To Witness Growth Based On Rising Incorporation Of The Computer Aided Diagnosis (CAD) Till 2024
According to report published by Grand View research, global medical image analysis software market will reach $4.5 billion by 2024, increased use of electronic health records to efficiently store and distribute patient health information in form of medical images is expected to fuel market growth.
San Francisco, California, United States – August 30, 2016 /MarketersMedia/ —
The medical image analysis software market will reach $4.5 billion by 2024, according to report by Grand View Research. The clinical urgency to incorporate medical image analysis software for the diagnosis of chronic diseases is presumed to fuel the market growth throughout the forecast period. Moreover, the increased use of electronic health records to efficiently store, manage, and distribute patient health information in the form of medical images is also contributing towards the market growth. Additionally, continuous advancements in the technology, such as computer-aided diagnosis (CAD) are expected to provide potential growth opportunities for the utilization of the new and improved medical image software tools in a wide range of disease application areas including cancer and urology.
The steady demand for diagnostic and treatment procedures with greater efficiency have consequentially boosted the industry share of the medical image analysis software tools with enhanced features. Improved image quality, high resolution, and multi-modal imaging platforms are the key associated benefits driving the physician preference, thereby fuelling the market demand. Furthermore, the incorporation of the software tools facilitates sharing of medical image records among physicians to facilitate rapid and accurate treatment delivery, thus the implied demand for the medical image analysis software systems. These aforementioned factors are expected to drive the emergence of the medical image analysis software market over the forecast period.
Access full research report: http://www.grandviewresearch.com/industry-analysis/medical-image-analysis-software-market
Key findings:
• On the basis of software type, the stand-alone software segment is anticipated to grow at a lucrative CAGR of over 7.5% over the forecast period due largely to the associated benefits, such as the systems with a user-friendly interface in use, which eliminates the requirement of skilled workforce to operate these systems
• In terms of modality, ultrasound imaging is expected to register a lucrative growth rate of over 8.9% in the coming eight years. According to a report by NCBI, the ultrasound imaging segment can detect around 92.5% of the breast lumps. Moreover, the use of high-frequency radiation is not involved, thus ensuring patient safety; the high diagnosis efficiency and patient safety factors are anticipated to further fuel this segment’s demand.
• On the basis of applications, the cardiology segment is expected to register the fastest growth owing to the rising in corporation of medical imaging systems used for the diagnosis of cardiovascular diseases (CVDs), such as Merge Cardio, which integrates digital health records from various cardiology-based modalities thus furnishing cardiologists with comprehensive patient record files with additional features, such as remote location access, along with the high prevalence rate of the CVDs synergistically accelerating the growth of this segment.
• Diagnostic centers are anticipated to grow at a lucrative CAGR amongst the end-use market segment as a consequence of the increasing number of imaging diagnostic labs and the government initiatives in this direction. For example, Moldovan Ministry of Health along with International Finance Corporation are trying to attract private sector investors through public-private partnerships to set up and modernize radiology and diagnostic imaging.
• As of 2015, North America dominated the regional medical image analysis software market at over 33.0%as a result of the presence of leading industry players and the supportive reimbursement policies. The rising government funding directed towards improving the imaging facility is also a prime growth driver for this regional market.
Browse more reports of this category by Grand View Research: http://www.grandviewresearch.com/industry/medical-devices
Market Segments:
Type outlook (Revenue, USD Million, 2013 – 2024)
• Integrated Software
• Stand-alone Software
Modality outlook (Revenue, USD Million, 2013 – 2024)
• Tomography
• CT (Computed Tomography)
• MRI (Magnetic Resonance Imaging)
• PET (Positron Emission Tomography)
• SPET (Single-Photon Emission Tomography)
• Ultrasound Imaging
• Radiographic Imaging
• Combined Modalities
Application outlook (Revenue, USD Million, 2013 – 2024)
• Orthopedic
• Dental
• Neurology
• Cardiology
• Oncology
• Obstetrics & Gynecology
• Mammography
• Urology & Nephrology
End-use outlook (Revenue, USD Million, 2013 – 2024)
• Hospitals
• Diagnostic Centers
• Research Centers
Regional outlook (Revenue, USD Million, 2013 – 2024)
• North America
• U.S.
• Canada
• Europe
• UK
• Germany
• Asia Pacific
• Japan
• China
• India
• Latin America
• Mexico
• Brazil
• MEA
• South Africa
Access press release of this research report: http://www.grandviewresearch.com/press-release/global-medical-image-analysis-software-market
About Grand View Research
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services.
For more information, please visit http://www.grandviewresearch.com/industry-analysis/medical-image-analysis-software-market
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Email: sales@grandviewresearch.com
Organization: Grand View Research, Inc.
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Phone: 1-415-349-0058
Release ID: 130220
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