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Rising Incidence Of Chronic Diseases Fuels Growth In Medical Image Analysis Software Market Driver: A Major Catalyst in the Evolution of the Medical Image Analysis Software Market in 2025
Rising Incidence Of Chronic Diseases Fuels Growth
The escalation in chronic disease prevalence is forecasted to spur the medical image analysis software market's expansion. Chronic ailments, typically lasting three months or more with a tendency to progressively worsen, can be detected in their initial stages through medical imaging, resulting in improved patient prognosis. Early detection and therapeutic intervention make these illnesses more manageable, reflecting the transformative significance of this advanced technology. For example, the National Center for Biotechnology Information (NCBI), a US-based National Library of Medicine, projected in January 2023 that by 2050, the global chronic disease population would reach 142.66 million, a significant increase from 71.522 million in 2020. Consequently, the mounting ubiquity of chronic diseases is fueling the growth of the medical equipment calibration services market.
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What Is the projected market size and growth rate for the medical image analysis software market?
The market size for medical image analysis software has experienced significant expansion in the past few years. It's projected to escalate from a worth of $4.08 billion in 2024 to $4.5 billion in 2025, showcasing a compound annual growth rate (CAGR) of 10.4%. The substantial growth throughout the historical period can be credited to factors such as an aging population, increasing healthcare expenses, emphasis on patient-centric care, preparation for global health issues, and ongoing clinical research and trials.
The market for medical image analysis software is forecasted to experience a swift expansion in the years to come. This market is estimated to reach a value of $6.65 billion in 2029, growing at a Compound Annual Growth Rate (CAGR) of 10.2%. Factors contributing to this growth during the projected period include precision medicine, disease diagnosis and surveillance, the reduction of interpretation mistakes, remote access to image analysis services, and quantitative imaging biomarkers. Key trends observed during this forecast period encompass 3D and 4D imaging, environmentally friendly imaging solutions, automation enhanced by artificial intelligence (AI), data and privacy protection, and advancements in the field of medical imaging.
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What new trends are reshaping the medical image analysis software market and its opportunities?
In the medical image analysis software market, product innovation is becoming increasingly prevalent as a leading trend. Key players are concentrating on the creation and implementation of more technologically sound software solutions to fortify their place in the market. To illustrate, Koninklijke Philips N.V., a multinational corporation headquartered in the Netherlands, announced the unveiling of their new cloud-based imaging informatics and analysis solutions in March 2022. These new tools, which belong to Philips' Data Management and Interoperability Solutions assortment, aim to amplify workflow effectiveness and heighten satisfaction levels amongst patients and staff alike. The HealthSuite Interoperability, a health information technology platform powered by a cloud, facilitates the connection of external systems and improves data workflow processes, accommodating different data types and formats. This platform improves care plan creation and coordination by delivering clinical and operational analytics. Moreover, Performance Bridge - Philips' Enterprise Performance Analytics is now broadening its comprehensive analytics to include cardiology as well as radiology, providing operational insight and boosting care delivery efficiency.
What major market segments define the scope and growth of the medical image analysis software market?
The medical image analysis software market covered in this report is segmented -
1) By Type: Integrated Software, Standalone Software
2) By Image Type: 2D Image, 3D Image, 4D Image
3) By Modality: Tomography, Ultrasound Imaging, Radiographic Imaging, X-ray Imaging, MRI, Other Modalities
4) By Application: Orthopedics, Dental Application, Neurology, Cardiology, Oncology, Obstetrics and Gynecology, Mammography, Other Applications
5) By End User: Hospital, Diagnostic Center, Research Center, Other End Users
Subsegments:
1) By Integrated Software: Picture Archiving And Communication Systems (PACS), Radiology Information Systems (RIS), Electronic Health Records (EHR) With Imaging Modules
2) By Standalone Software: Image Processing Software, Visualization Software, Diagnostic Software
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Which region dominates the medical image analysis software market?
North America was the largest region in the medical image analysis software market in 2024. The regions covered in the medical image analysis software market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Which key market leaders are driving the medical image analysis software industry growth?
Major companies operating in the medical image analysis software market include Aquilab SAS, Carestream Health Inc., Esaote S.p.A, GE HealthCare Technologies Inc., Image Analysis Group, INFINITT Healthcare Co. Ltd., Merge Healthcare Inc., MIM Software Inc., Mirada Medical Limited, Philips Healthcare, ScienceSoft USA Corporation, Siemens AG, Toshiba Medical Systems Corporation, Xinapse Systems Ltd., AGFA Healthcare, Aktien-Gesellschaft für Anilin-Fabrikation Group, Aidoc Medical, Arterys Inc., Blackford Analysis Ltd., Butterfly Network Inc., Canon Medical Systems Corp., ContextVision AB, Fujifilm Medical Systems Corp., Hologic Inc., Life Image Inc., Mirai Medical Co., Nines Radiology inc., PathAI Inc., Pie Medical Imaging BV, Quibim, Riverain Technologies, Sectra AB, Spintech Holdings inc., Subtle Medical Inc.
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What Is Covered In The Medical Image Analysis Software Global Market Report?
•Market Size Forecast: Examine the medical image analysis software market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the medical image analysis software market for a structured understanding.
•Key Players Overview: Analyze major players in the medical image analysis software market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the medical image analysis software market.
•Segment Contributions: Evaluate how different segments drive overall growth in the medical image analysis software market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the medical image analysis software market.
•Industry Challenges: Identify potential risks and obstacles affecting the medical image analysis software market.
•Competitive Landscape: Review strategic developments in the medical image analysis software market, including expansions, agreements, and new product launches.
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