Medical Image Analysis Software Market 2016: Trends, Leaders, Services and Future Forecast to 2022

Medical imaging is the technique used for visualisation of internal organs and tissues for the purpose of diagnosis. It helps in detecting abnormalities by providing a database of normal anatomy and physiology. It has wide application in the fields of orthopedics, neurology, gynecology, cardiology, oncology, mammography and urology.

End-user/Technology
Healthcare centers, hospitals, diagnostic centers, and research centers are the primary users of this technology. The images generated by the scanning software is stored in the memory. Using analysis quality of the image is enhanced. The analysis is performed using computer-aided diagnosis (CAD), wavelet-based image enhancement using adaptive fusion and data-driven optimized image segmentation.

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Market Dynamics
Advancement in medical imaging system technology, rising need for less invasive diagnostic procedures, the aging population leading to more diagnostic check-ups, growing application of CAD, untapped emerging markets, investment from Govt. and non-government agencies are the main driving force for the growth of the medical image analysis software market. On the other hand lack of awareness among people, insufficiently trained professionals, and high cost are some of the primary restraints. Physicians are preferring the technology because of the benefits such as improved image quality, high resolution, and multi-modal imaging platform.

Market Segments
The global market can be segmented based on software type (i.e. integrated software, standalone software), image type (2D, 3D, and 4D), modality, and application. The modality market can be subdivided into tomography (i.e. computed tomography, positron emission tomography, magnetic resonance imaging etc.), ultrasound imaging, radiographic imaging, and other modalities. It has various applications in the fields of cardiology, neurology, orthopedics, nephrology, gynecology and dental treatment.

Regional/Geographic Analysis
North America is the market leader followed by Europe and the Asia Pacific. Technological advancement, venture capital investment, govt support and increasing demand ensure North America’s leadership in the medical image analysis software market. High purchasing power and disposable income in North America and Europe also ensure the market growth. Investors and manufacturers are highly interested in Asia Pacific regions due to the presence of untapped market with lots of opportunities. Other geographic markets include South America, Japan, and Middle East & Africa.

Opportunities
Technological advancement, Govt. support and increasing awareness among people are creating lots of opportunities in the current market. Ease of storing images, singular interface among all imaging modalities leading to increase in the productivity, development in computer-aided technology, adoption of cloud-based imaging solution are ensuring future growth opportunities for the market. The highest growth rate is expected to be in the Asia Pacific region in the forecasted period. Various R&D work in critical disease sector and complex surgical procedures are also creating opportunities for the market to grow.

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Key Players
Some of the major players in the market include GE Healthcare, Agfa-Gevaert N.V., Hologic Inc., Pie Medical Imaging, Siemens Healthineers, AQUILAB, Merge Healthcare Incorporated., ScienceSoft USA Corp, and MIM Software Inc.

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