LONDON--(BUSINESS WIRE)--The medical image analysis software market size is poised to grow at a CAGR of almost 8% during the period 2020-2024, according to the latest market research report by Technavio. Request a free sample report
In the last decade, the capabilities of medical imaging have increased considerably due to advanced research and technological evolution. Open and portable MRIs, diagnostic machinery supported by big data and analytics, and the advent of 3D technologies in diagnostic radiology are some of the latest advances that have increased the capabilities of medical imaging systems. These developments have led to an increase in the adoption of medical imaging which in turn has led to a proportionate increase in the demand for medical image analysis software. Hence, the advances in the field of medical imaging are expected to further drive the growth of the medical image analysis software market during the forecast period.
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As per Technavio, the growing applications of computer-aided diagnosis will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2020-2024.
Medical Image Analysis Software Market: Growing Applications of Computer-Aided Diagnosis
Medical images taken with low energy to reduce the harmful effects of IR on the body are of relatively bad quality and hence are difficult to interpret. This has led to the wide adoption of computer-aided diagnosis (CAD) technology, which helps radiologists interpret medical images, such as mammography, X-rays, ultrasound, and MRIs. CAD systems not only make the imaging process more efficient but also address different steps of the imaging process, including preprocessing, segmentation, feature extraction, and classification. Thus, the growing use of CAD is expected to improve the safety, accuracy and efficiency of medical imaging.
“Other factors such as the growing popularity of cloud-based image analysis solutions, and the increasing use of artificial intelligence (AI) in medical imaging field will have a significant impact on the growth of the medical image analysis software market value during the forecast period,” says a senior analyst at Technavio.
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Medical Image Analysis Software Market: Segmentation Analysis
This market research report segments the medical image analysis software market geography (APAC, Europe, MEA, North America, and South America) and type (integrated and standalone).
The North American region led the market in 2019, followed by APAC, Europe, South America, and MEA respectively. The growth of the medical image analysis software market share in North America can be attributed to factors such as the growing geriatric population and the increasing prevalence of various chronic diseases in the region.
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Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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