Global Medical Image Analysis Software Market is set to grow at a lucrative CAGR of >10% by 2026 - GE, Philips, Siemens, AQUILAB, Agfa, IBM, MIM Software, Canon Medical Systems, Xinapse Systems, ContextVision, Quantib, Neusoft

Medical image analysis software uses deep learning algorithms to read and evaluate images.

Growing Volume of Medical Images Coupled with Shortage of Radiologists

Medical images make up ~90% of the data in healthcare and >95% of it goes unanalyzed or unused. The number of images generated worldwide increases every year and this trend is likely to continue, as increasing number of people will gain access to better medical care. Growing volume of images puts pressure on radiologists. This issue further intensifies with the shortage of trained radiologists across the world. This in turn drives the adoption of medical image analysis software which helps increase the speed and accuracy of analysis thereby reducing report turnaround time. However, flawed, incomplete or poor-quality images can pose major challenge to its applications.

Technological Advancements are driving the Medical Image Analysis Software Market

While medical imaging analysis software can definitely reduce the radiologist workload, it is not yet capable to entirely replace the radiologist. The medical image analysis software has evolved to include multiple imaging modalities such as MRIs, CT scans, ultrasound and nuclear medicine. Moreover, the companies operating in this field are putting their efforts to improve analytic abilities of medical imaging software so as to create software capable of independently detecting clinical anomalies in medical images.

Promising Growth Opportunities in Oncology and Mammography Segments

There is large scope of application of medical image analysis software in medical segments such as oncology, cardiology, orthopedics, dentistry, mammography and neurology. While cardiology acquires a substantial share of the global market in terms of application, adoption of this software in mammography and oncology areas is likely to witness a high growth in the upcoming years.

"Hospitals are the major end-users of medical image analysis software, followed by diagnostic centers. This is mainly attributed to huge installed base of diagnostic imaging systems, significant patient inflow and budget for installing such software to reduce physician/radiologist workload." - VP, Sales & Marketing, Leading Supplier, USA

Competitive Landscape Analysis: Medical Image Analysis Software Market

The global medical image analysis software market is highly fragmented. Some of the well established and promising players operating in the medical image analysis software market are GE Healthcare, Philips Healthcare, Siemens Healthineers, AQUILAB, Agfa Healthcare, IBM, MIM Software, Canon Medical Systems, Xinapse Systems, ContextVision, Quantib, Mirada Medical, Neusoft Medical Systems, INFINITT Healthcare, Oxagile, Esaote, Lunit, Aidoc, ChironX, Contextflow, 4Quant, Qure, Methinks, AnalyzeDirect and ScienceSoft.

Get Detailed Insights on Medical Image Analysis Software Report with TOC @ https://meditechinsights.com/medical-image-analysis-software-market/

Ruta Halde
Associate, Medi-Tech Insights
+32 498 86 80 79
info@meditechinsights.com
https://meditechinsights.com/

Medi-Tech Insights is a healthcare-focused business research & insights firm. Our clients include Fortune 500 companies, blue-chip investors & hyper-growth start-ups. We have successfully completed 100+ projects in Digital Health, Healthcare IT, Medical Technology, Medical Devices & Pharma Services.

This release was published on openPR.