The global medical image analysis software market size was estimated at USD 3.27 billion in 2023 and is expected to grow at a compound annual growth rate (CAGR) of 7.8% from 2024 to 2030. An upsurge in the need for diagnostic imaging software within various medical specialties, including dental, urology, orthopedics, oncology, and neurology is expected to drive market growth. Furthermore, the increasing adoption of ultrasound imaging systems to facilitate faster diagnosis of chronic disease is projected to fuel this software demand.
Moreover, continuous innovations in imaging technology, including developments like Computer-Aided Diagnosis (CAD), are anticipated to further boost the demand for these solutions. The integration of Artificial Intelligence (AI) into medical imaging has reshaped market dynamics in recent times and is expected to have a positive impact on market growth over the forecast period.
The AI-based solutions have various applications in medical imaging, including diagnosis, detection, image analysis, and clinical decision support. Though AI adoption is in the early phase of MRI and CT technologies, rising demand for accuracy, efficiency, and patient safety is anticipated to boost the adoption of AI-enabled medical imaging over the forecast period. In addition, the market growth is significantly driven by the growing acceptance of technologically advanced products, such as multimodality imaging platforms and 3D imaging. These solutions come with several benefits, including high-resolution imaging, user-friendliness, and flexibility, which make them highly attractive for healthcare professionals and researchers. The introduction of advanced technological products and the emergence of efficient information management systems are expected to be significant catalysts for market growth during the forecast period.
Focus on innovation in medical image analysis has also given rise to certain measures that are being implemented. Furthermore, can assist in disease diagnosis, treatment, and early detection. It has been regarded as one of the most advanced technologies to combat the COVID-19 crisis. In the context of COVID-19 disease, numerous AI, machine learning, and deep learning approaches have been used in medical image processing, which is another significant factor contributing to the market growth. Diagnostic and research centers are projected to become vital end users of image analysis solutions due to the increasing demand for more efficient solutions that can improve patient outcomes.
Detailed Segmentation:
Software Type Insights
Based on software type, the integrated software segment led the market in 2023 and is expected to grow at a CAGR of 7.4% from 2024 to 2030. The significant market share is owing to the advantages linked with the utilization of these solutions.
Modality Insights
Based on modality, the tomography segment held the market with the largest revenue share of 33.0% in 2023, owing to its cost-effectiveness. The emergence of dual-source and AI-enabled CT scanners is expected to mark significant milestones in market expansion.
Imaging Type Insights
Based on the imagine type, the 4D imaging segment led the market with the largest revenue share of 45.9% in 2023. This segment is expected to continue its dominance over the forecast period owing to technological advancements in 4D imaging technology.
Application Insights
Based on application, the cardiology segment led the market with the largest revenue share of 20.3% in 2023. The growth is attributed to the high prevalence of cardiovascular and congenital heart diseases and government support to improve the accessibility of treatments.
Recent Developments
- In January 2023, Bruker Corporation acquired ACQUIFER Imaging GmbH, which will expand its portfolio to include big data management and high-content screening solutions for bioimaging applications.
- In January 2023, Canon Medical Systems USA Inc., entered into a partnership with ScImage, Inc. Sclmage provides Cloud-native enterprise image management, PACS and image exchange solutions for the healthcare industry, based out of Los Altos, CA.
- In September 2022, King Abdullah Medical City (KAMC), located in Mecca, Saudi Arabia, and a long-term customer of Agfa HealthCare, recently upgraded its image management system to Agfa HealthCare's Enterprise Imaging.
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
- ESAOTE SPA
- Merge Healthcare, Inc. (IBM)
- ClaroNav, Inc.
- Xinapse, Inc.
- Bruker
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