Medical Image Analysis Software Market Worth $5.49 Billion by 2030: Grand View Research, Inc.

SAN FRANCISCO, April 12, 2022 /PRNewswire/ -- The global medical image analysis software market size is expected to reach USD 5.49 billion, expanding at a CAGR of 7.5% from 2022 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of chronic diseases creates demand for effective diagnostics solutions, which spurs the demand for medical image analysis software. The high growth is majorly attributed to a rise in the usage and uptake of image analysis solutions for diagnosis. Furthermore, the rising demand for medical image analysis software is being driven by the increased use of imaging equipment due to the rising prevalence of chronic diseases and developing applications of computer-aided diagnosis.

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Key Insights & Findings from the report:

  • The oncology application segment is expected to witness the fastest CAGR over the forecast period due to the increased application scope of image analysis software in cancer diagnostics.
  • The hospitals end-use segment held the largest revenue share in 2021 owing to the high product adoption in the diagnosis of various diseases.
  • Asia Pacific is expected to showcase the fastest CAGR during the forecast years owing to the unmet clinical needs.
  • The global market is highly fragmented and companies witness fierce competition as the industry is technology-driven.
  • Strategies implemented by key players include collaborative agreements, new product launches, and geographical expansions.

Read 120-page market research report, "Medical Image Analysis Software Market Size, Share & Trends Analysis Report By End Use (Hospitals, ASC), By Software Type (Integrated, Standalone), By Imaging Type (3D, 4D), By Modality, By Application, And Segment Forecasts, 2022 - 2030", published by Grand View Research.

Medical Image Analysis Software Market Growth & Trends

According to data by the National Health Council, in 2020, around 133 million Americans were affected by chronic diseases, accounting for more than 40% of the country's total population. Thus, increasing cases of chronic diseases lead to an upsurge in the usage of medical imaging techniques. In addition, shifting focus to providing enhanced care has led to the incorporation of various computer-aided diagnosis systems, which is further contributing to the market growth. The introduction of technologically advanced products, such as 3D/4D platforms and multimodality imaging platforms, is also presumed to boost the demand for the software. An increase in medical imaging procedures will further drive the market growth.According to Science Direct, in the U.S. alone, around 600 million imaging operations are performed each year. This shows the potential demand for medical image analysis software solutions. Various benefits, such as flexibility and high-resolution images, along with convenient use of multi-modal integrated workflows are expected to bolster the demand and increase product penetration over the forecast period. Stand-alone platforms are anticipated to witness steady growth. These platforms are user-friendly, and cost less as compared to integrated solutions. These solutions offer more details and features and are used by researchers, allowing them to share and access research data and analyses, thereby enhancing their ability to diagnose, research, monitor, and treat disorders.For instance, GE healthcare's ViewPoint 6 (for MFM) is a standalone software designed for dedicated ultrasound reporting and image management. Artificial Intelligence (AI) in medical imaging has impacted market dynamics in recent years and is expected to have a positive impact on the market. For instance, in March 2021, Royal Philips and DiA Imaging Analysis entered into a strategic partnership to provide clinicians with automated solutions at the point of care. Philips' industry-leading ultrasound picture quality, combined with DiA's AI library of automated solutions, will assist Point-of-Care customers in and out of the hospital improve diagnostic confidence, operational efficiency, and access to care.

Medical Image Analysis Software Market Segmentation

Grand View Research has segmented the global medical image analysis software market on the basis of software type, modality, imaging type, application, end use, and region:

Medical Image Analysis Software Type Outlook (Revenue, USD Million, 2017 - 2030)

  • Integrated
  • Stand-alone

Medical Image Analysis Software Modality Outlook (Revenue, USD Million, 2017 - 2030)

  • Tomography
    • Computed Tomography
    • Magnetic Resonance Imaging
    • Positron Emission Tomography
    • Single-Photon Emission Tomography
  • Ultrasound Imaging
  • Radiographic Imaging
  • Combined Modalities

Medical Image Analysis Software Imaging Type Outlook (Revenue, USD Million, 2017 - 2030)

  • 2D Imaging
  • 3D Imaging
  • 4D Imaging

Medical Image Analysis Software Application Outlook (Revenue, USD Million, 2017 - 2030)

  • Orthopedic
  • Dental
  • Neurology
  • Cardiology
  • Oncology
  • Obstetrics & Gynecology
  • Mammography
  • Urology & Nephrology

Medical Image Analysis Software End-use Outlook (Revenue, USD Million, 2017 - 2030)

  • Hospitals
  • Diagnostic Centers
  • Ambulatory Surgical Centers(ASCs)
  • Others (Academic & Research Centers)

Medical Image Analysis Software Regional Outlook (Revenue, USD Million, 2017 - 2030)

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • France
    • Italy
    • Spain
    • Russia
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa
    • South Africa
    • Saudi Arabia
    • UAE

List of Key Players of Medical Image Analysis Software Market

  • Koninklijke Philips N.V.
  • GE Healthcare
  • Siemens Healthineers
  • Agfa-Gevaert Group
  • Toshiba Medical Systems Corporation
  • Spacelabs Healthcare
  • MIM Software, Inc.
  • Aquilab SAS
  • Merge Healthcare, Inc. (IBM)
  • ClaroNav, Inc.
  • Xinapse, Inc.
  • Bruker

Check out more related studies published by Grand View Research:

  • Treatment Planning Systems And Advanced Image Processing Market - The global treatment planning systems and advanced image processing market size is expected to reach USD 3.0 billion by 2028, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.8% from 2021 to 2028. The increasing prevalence of cancer and rising product development pertaining to cancer research undertaken by key players are driving the market growth. According to estimates published by GLOBOCAN in 2020, 19.3 million new cancer cases were diagnosed and 10.0million cancer-related mortalities recorded.
  • Ultrasound Image Analysis Software Market - The global ultrasound image analysis software market size is expected to reach USD 1.2 billion by 2025, according to a new study by Grand View Research, Inc. The growing prevalence of chronic diseases is a high impact rendering growth driver for the market. The increasing prevalence is presumed to be driving the clinical urgency to adopt ultrasound image analysis software in order to improve the existing poor patient diagnostic imaging measures and reduce the long-term cost associated with the conventional diagnostics.
  • Brachytherapy Treatment Planning Systems Market - The global brachytherapy treatment planning systems market size is expected to reach USD 1.5 billion by 2030, registering a CAGR of 9.3% over the forecast period, according to a new report by Grand View Research, Inc. The global prevalence of cancer and cancer-related mortality is rapidly rising and driving the demand for innovative cancer care solutions. According to Globocan 2020 estimates, in 2020, 19.3 million new cancer cases were detected across the globe. Some of the most commonly diagnosed cancer cases are breast cancer, prostate cancer, lung cancer, and colorectal cancer. According to the WHO, globally, cancer is a leading cause of death claiming one in every six lives.

Browse through Grand View Research's Healthcare IT Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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