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Rising Incidence Of Chronic Diseases Fuels Growth In Medical Image Analysis Software Market: Transformative Forces Shaping the Medical Image Analysis Software Market Landscape in 2025
Medical Image Analysis Software Market
What Will the Medical Image Analysis Software Industry Market Size Be by 2025?
In the past few years, the market size for medical image analysis software has witnessed significant growth. It is projected to expand from $4.08 billion in 2024 to $4.5 billion in 2025, marking a compound annual growth rate (CAGR) of 10.4%. Factors such as the aging population, escalating healthcare costs, patient-centric medical care, preparedness for global health challenges, and advancements in clinical research and trials have contributed to the growth during the historic period.
What's the Long-Term Growth Forecast for the Medical Image Analysis Software Market Size Through 2029?
Predictions indicate a swift expansion in the medical image analysis software market in the coming years. By 2029, it is projected to rise to $6.65 billion with a compound annual growth rate (CAGR) of 10.2%. The projected escalation during this period can be linked to precision medicine, disease diagnosis and monitoring, reduction of interpretation errors, and the provision of remote image analysis services and quantitative imaging biomarkers. The forecast period will likely see notable trends such as 3D and 4D imaging, sustainable imaging solutions, the enhancement of automation through artificial intelligence (AI), data security and privacy measures, and advancements in the medical imaging field.
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What Are the Key Growth Drivers Fueling the Medical Image Analysis Software Market Expansion?
The anticipated surge in the occurrence of chronic health conditions is projected to drive the expansion of the medical image analysis software market. Chronic diseases are ailments that usually persist for over three months and could potentially worsen with time. Medical imaging provides doctors with the ability to detect diseases like cancer and diabetes at early stages, thereby enhancing patient prognosis. This transformative technology allows for early detection and management of diseases, bringing about significant change in patients' lives. For example, the National Center for Biotechnology Information (NCBI), a National Library of Medicine based in the US, forecasted in January 2023 that by 2050 the global population suffering from chronic diseases will reach 142.66 million, a significant rise from 71.522 million in 2020. Hence, the rising occurrence of chronic health conditions is fueling the growth of the medical equipment calibration services market.
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What Are the Key Trends Driving Medical Image Analysis Software Market Growth?
The medical image analysis software market is witnessing growth due to an increased emphasis on product innovation. Key players in the market are prioritizing the formulation of technologically advanced software solutions to fortify their presence in the market. For example, in March 2022, Koninklijke Philips N.V., a conglomerate corporation hailing from the Netherlands, released novel cloud-based enterprise imaging informatics and analytics solutions. These solutions, which are part of Philips' Data Management and Interoperability Solutions portfolio, have been designed with a focus on improving work-flow efficiency, as well as elevating patient and staff satisfaction levels. The HealthSuite Interoperability, a healthcare IT platform backed by cloud technology, facilitates the connection to third-party systems while also simplifying data workflows. It caters to diverse data types and formats, and streamlines care planning and coordination through its clinical and operational analytics features. Furthermore, Philips' Enterprise Performance Analytics - Performance Bridge has broadened its deep analytics coverage from radiology to cardiology, enabling improved operational understanding and efficiency in delivering care.
How Is the Medical Image Analysis Software Market Segmented?
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 Companies Are Leading the Charge in Medical Image Analysis Software Market Innovation?
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.
Which Regions Are Leading the Global Medical Image Analysis Software Market in Revenue?
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.
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