Medical Imaging Analysis Software Market 2019 Top Players: AGFA Healthcare, Aquilab GmbH, Canon Medical Systems USA, Carestream Health , GE Healthcare, IBM Watson Health, Koninklijke Philips NV

The major factors for the growth of the medical imaging analysis software market include the technological advancements in medical imaging systems and analysis software, increasing usage of imaging equipment due to the rising prevalence of chronic diseases, and rising applications of computer-aided diagnosis.

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There is an increase in the prevalence of chronic diseases, globally. According to the Cancer Research UK, in 2012, around 14.1 million cancer cases occurred worldwide. According to the World Health Organization, approximately 17.7 million people died from cardiovascular diseases in 2015, representing 31% of all deaths that have occurred across the world. Of these deaths, an estimated 7.4 million were due to coronary heart diseases and 6.7 million were due to stroke.

Competitive Landscape
The medical imaging analysis software market is moderately consolidated, owing to the presence of a few key players in the market. The companies are focusing on the technological advancement of the devices, in order to gain significant market shares. Some of the market players are AGFA Healthcare, Aquilab GmbH, Canon Medical Systems USA, Carestream Health Inc., GE Healthcare, IBM Watson Health, Koninklijke Philips NV, Sciencesoft USA Corporation, and Siemens Healthineers.

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According to the American Cancer Society, nearly 40,000 people in the United States were diagnosed with head and neck cancers, out of which 12,000 died in the year 2014 alone.
Cancer is one of the leading causes of death across the world, with 8.8 million victims in 2015, and accounting for nearly 1 in every 6 deaths, globally. The disease has witnessed a significant rise in the last few decades, and is expected to rise rapidly, during the forecast period. It is estimated that nearly 6% of the malignancies occur in the United States.

The increasing burden of these chronic diseases is leading to an increase in the usage of medical imaging techniques. This trend is demanding advanced imaging technologies with updated software, propelling the growth of the market in the forecast period.

Scope of the Report
As per the scope of this report, medical imaging is the process of creating a visual portrayal of a body for clinical analysis and medical intervention. The scanning software generates images, which are stored in the computer’s memory and are later analyzed. The analysis is a process to improve the quality of images and the quantitative aspects. The analysis is done using computer-aided diagnosis and data-driven optimized image segmentation and registration.

Key Market Trends
The X-ray Imaging Segment is Expected to be the Fastest Growing Segment over the Forecast Period
X-ray has applications in the examination of bone or tissues samples. X-ray imaging data is analyzed using imaging software. With the development of medical x-ray image analysis software, the treatment and data management have become easy for the medical personnel. The data can be easily shared between the healthcare providers or researchers at the remote sites. This is a key contributing factor for market growth. GE’s Rhythm Radiography is an advanced x-ray software that combines advanced image acquisition, review, and data management tools for all x-ray testing methods, including computed radiography, digital radiography, and film digitization. Its advanced data sharing capabilities allow significant improvements in productivity and enable faster identification of quality problems. Using x-ray software, process efficiency can be improved. The software reduces training requirement and saves cost and time, hence, preferred by the patients and healthcare providers. The x-rays, analysis, and documentation are easily exported to electronic medical records as PDF files or JPG images. The demand for imaging modalities and increasing advancements in technologies are driving this market.

North America Accounted for the Largest Share in the Global Market

North America holds a major share in the medical imaging analysis software market and is expected to show a similar trend over the forecast period, without significant fluctuations. The United States is one of the largest markets for medical imaging analysis software. There are regular updates in the new imaging software, and new companies are providing solutions that provide easy image post-processing and optimization, with tools to filter. Imaging analysis software, combined with the enhanced visualization software, is now provided by companies, like AnalyzeDirect. With the rising concerns regarding radiation doses, these tools are helpful in understanding better dose adjustment for imaging, thus, helping to capture a better image. It is estimated that, in the United States, more than 80 million CT scans are performed, annually. The scanning procedures, such as CT angiography, colonography, dual-energy, perfusion CT, etc. revolutionized the diagnosis and treatments. There is an increasing burden of chronic diseases among the people of the United States, requiring them to undergo imaging scans in the process of diagnosis and treatment. With the increase in the number of imaging procedures, hospitals and diagnostic imaging centers require sophisticated software. All the aforementioned factors may propel the market growth over the forecasted period.

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