North America Medical Image Analysis Software Market (2019–2025) to attain a market value of US$ 1,626 million by 2025, growing at a considerable CAGR of 6.37%
North American medical image analysis software market is anticipated to reach the market valuation of US$ 1,626 million by 2025 expanding at a considerable CAGR of 6.37% in the course of forecast period (2019-2025). The driving factors include increased prevalence of chronic diseases and rising applications of Computer Aided Diagnostics (CAD) paired with stringent government regulations and schemes on medical imagining in North America region. Moreover, rapid technological advancements in medical imaging systems, advanced diagnostic equipment and favorable government initiatives would propel the adoption of healthcare IT and increase the overall demand of medical image analysis software in the North American region. Nowadays, image viewing is improved as images are currently analyzed using a Picture Archiving and Communication System (PACS) or dedicated radiological software packages for image interpretation, navigation and post-processing. The images obtained with computed tomography (CT) and magnetic resonance (MR) devices are 2D, 3D or sometimes 4D. In addition, 4D imaging is considered as time-resolved to image with an attractive feature of detective live motion artifacts such as studying movements of internal organ. It also provides temporal images for radiological diagnosis and radiation therapy which directly save 19% of the radiologist’s time.
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Medical imaging can be used for both diagnosis and therapeutic purposes, making it one of the most powerful resources for effective care to the patients. In 2016, revenues of diagnostic imaging centers in the U.S. was the approximately US$ 16.43 billion. For instance, according to several organizations and surveys, in the year 2017, there were over 42.6, 52.3 and 6.12 CT Scan devices per one million inhabitants in the United States, Canada and Mexico respectively. Medical Imaging modalities involve several scanning techniques to visualize the human body for diagnostic and treatment purposes. A variety of imaging techniques such as X-ray radiography, ultrasound, computed tomography (CT), nuclear medicine including positron emission tomography (PET) and magnetic resonance imaging (MRI) is used to identify and diagnose/treat diseases. According to North America medical image analysis software market, revenue from X- ray technology in 2018 was estimated to be US$ 182.8 million.
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The aim of this study was to analysis/study abnormalities. Integrated and standalone software are the two major software types, used for medical purpose. Integrated software dominated the North American market in 2018 with a market size of US$ 574.4 million and is expected to dominate the market during the forecast period 2019-2025. Medical image analysis software provides an accurate information related to cardiovascular, neurological, orthopedic, dental and oncology, among other disorders. The medical imaging analysis software is applicable over several applications segments the most prominent was cardiology. North America also holds a prominent position in the dental imaging software market.
Imaging has become an essential component of medical, research and clinical practice. Depending on the end-users, this market can be segmented into hospitals, diagnostics Centers and research laboratories. Each end-user plays an important role in one or the other way, hence they all carry a responsibility for the growth of the market. In 2018, hospital market generated a revenue of US$ 521.2 million and is expected to grow a CAGR of 5.54% during the forecast period to 2025. Additionally, for a deep dive analysis of the industry, the North America medical image analysis software market is analyzed for major North American countries including U.S., Canada and Mexico.
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Some of the major players operating in the North American medical image analysis software market are Canon Inc, Fujifilm Holdings Corporation, Watson Health Imaging, General Electric Company, McKesson Corporation, Agfa-Gevaert NV, Esaote S.p.A., Koninklijke Philips N.V., Siemens Healthcare, Hitachi Healthcare Manufacturing, Ltd. These players consistently aim to focus on medical image analysis software innovations and manufacturing along with their styles to expand their customer base and strengthen their market position which further offers them growth opportunities for geographic expansion.
Scope of the Report
Market Insights, By Software Type
- Standalone Software
- Integrated software
Market Insights, By Image Type
- 2D Image
- 3D Image
- 4D Image
Market Insights, By Imaging Technology
- Computed Tomography (CT)
- Positron Emission Tomography (PET)
- Single Photon Emission Computed Tomography (SPECT)
- Magnetic Resonance Imaging (MRI)
- X-ray Imaging
Market Insight, by Application
- Obstetrics and Gynaecology
Market Insight, by End User
- Diagnostic Center
- Research Center
Market Insight, by Country
- The U.S.
- Rest of North America
Tope Companies Profiled
- Canon Inc.
- Fujifilm Holdings Corporation
- Watson Health Imaging
- General Electric Company
- McKesson Corporation
- Agfa-Gevaert NV
- Esaote S.p.A.
- Koninklijke Philips N.V.
- Siemens Healthcare AG
- Hitachi Healthcare Manufacturing, Ltd.