Computer-Aided Diagnosis Benefitting Medical Image Analysis Software

There is the strong and growing need in the biology research community for accurate, automated image analysis and CellProfiler 2.0 has been engineered to meet the needs of its growing user base with more robustness and user friendly features along with new algorithms and features to facilitate high-throughput work. In addition, Amide's a Medical Image Data Examiner (AMIDE) and Halo Image Analysis Platform by Indica Labs are user friendly, software tool to display and analyze the multimodality volumetric medical images.
Shorten learning curve with rapid annotation of slides, turbo-charge analysis of speed, sorting and filtering capabilities and increase in the productivity because of same interface across all imaging modalities, quantitative information related to biomarker expression, automated analysis and image interpretation, reduced study time and improved consistency and anytime anywhere access through cloud based architecture are the growth drivers of medical imaging analysis software market. However, lack of trained professionals, high cost of software and data security issues are hampering the market growth.

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According to Goldstein Research, the medical image analysis software market is anticipated to reach USD 4.1 billion by 2024 from USD 2.52 billion in 2016, at a CAGR of 7.9% during the forecast period due to the increased reliability, reproducibility and validity of study data.
Based on product type i.e. integrated and standalone software, integrated software is the dominating segment and is projected to reach the valuation of USD 1.5 billion by 2024 while in the end user segment, hospitals hold the highest CAGR and expected to dominate the medical image analysis software market over the forecast period.
In 2016, North America accounted for the largest share of the medical image analysis software market with the considerable CAGR owing to better decision making and enhanced patient care outcomes.
Key players catering to this industry are Philips Healthcare, Siemens Healthineers, Carestream Health, Inc., Esaote SpA, GE Healthcare Inc., Siemens Healthineers, Sciencesoft USA Corporation, Philips Healthcare, Toshiba Medical Systems Corporation, Mirada Medical Limited, Merge Healthcare Inc. and Analogic Corporation, etc. These market vendors are adopting strategies, such as technological innovation, new product development, and strategic collaborations as well as mergers & acquisitions to maximize their revenue share. For instance, in 2015, GE Healthcare got an FDA approval in the low dose Computed Tomography that is utilized for lung cancer screening and expanding its product portfolio.

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