Medical Image Analysis Software Market: Current Analysis and Forecast 2019-2025

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Emphasis on Software Type (Standalone and Integrated Software), Image Type (2D Image, 3D Image and 4D Image), Imaging Technology (Computed Tomography (CT), Positron Emission Tomography (PET), Single Photon Emission Computed Tomography (SPECT), Magnetic Resonance Imaging (MRI), Ultrasound, X-ray Imaging), Application (Cardiovascular, Neurology, Orthopaedic, Dental, Mammography, Obstetrics and Gynaecology, Oncology), End-Users (Hospitals, Diagnostic Centre, Research Centre) and Country

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139

Table:

38

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11

Report ID:

UMHE19143

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Report Description
Table of content
Research Methodology

Report Description

North America Medical Image Analysis Software market was valued at US$ 1,062.4 million in 2018 and is anticipated to display considerable CAGR of 6.36% over the forecast period (2019-2025). Medical imaging analysis software and their algorithms are among the key element of modern healthcare. Medical sector has become entirely dependent on medical image analysis techniques as it has made it easier for physicians to locate tumors and other hidden structures within the patient’s body. Imaging modalities have made impressive advancements over the past years. Image analysis software also allows the access of the data overseas at any remote location and in turn allowing the information to be shared with other practitioners. In today’s era, medicine is unimaginable without Computed Tomography, Magnetic Resonance Imaging, Ultrasound, and Positron Emission Tomography as well as combined hybrid technologies such as PET-CT and PET-MRI and image fusion.

Owing to the factors such as rapid growth in aging population and increasing incidence of chronic diseases in the US and Canada are the major driving factors for the North American Medical Image Analysis Software market. In addition, rising applications of Computer Aided Diagnostics (CAD) will further boost the market growth. However, high cost of software and unavailability of skilled professionals will act as a restraint for the adoption of this technology. Moreover, rapid technological advancements and improving healthcare environment will act as the opportunity for further evolution of this industry.

Facts about Chronic Disease in the US, 2016

“Integrated Software is anticipated to dominate during the analyzed period.”

Integrated Software is anticipated to escalate the market growth due to the lower costs and centralized data storage. The segment is expected to grow due to the factors such as increased investments for medical Imaging technology paired with rising prevalence of chronic diseases are anticipated to propel the use of these software over the coming years.

“3D image expected to lead the market during the analyzed period.”

Medical image analysis software market is segmented based on image type including 2D image, 3D image and 4D image. 3D image was the most prominent used image type in the North American medical system and is expected to maintain its dominance throughout the forecast period 2019-2025.

North America Medical Image Analysis Software Market, by Image Type, 2018-25 (USD million)

 

“Computed Tomography held the largest market share in 2018 and are expected to dominate the market in 2025.”

The study further bifurcates the North American medical image analysis software market into different medical Imaging modalities including, X-ray radiography, ultrasound, computed tomography (CT), nuclear medicine including positron emission tomography (PET) and magnetic resonance imaging (MRI), wherein Computed Tomography technology held the largest market share in 2018 and is expected to dominate the market by 2025.

“Amongst application, cardiology holds the major share.”

Medical image analysis software holds a wide range of application such as cardiovascular, neurology, orthopedic, dental, mammography, Obstetrics and gynaecology and oncology, among others. Rising incidence of Cardiovascular disease will escalate the market growth and will hold the highest market share in this segment.

 “Amongst end-users, hospitals are anticipated to dominate North America medical image analysis software market by 2025.”

Diagnostic centres, hospitals and Others (research laboratories) are the major end-users of this technology. Hospitals are anticipated to dominate this segment in 2025. Owing to the escalation in the incidence of chronic diseases in both US and Canada.

“United States represents as one of the largest markets of medical image analysis software in North America.”

For a deep dive analysis of the industry, the study also includes country level analysis, including countries such as U.S., Canada, Mexico, and Rest of North America. United States is considered as the largest market of this technology. Robust medical infrastructure is driving the market growth of this country.

Competitive Landscape-Top 10 Market Players

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. are some of the prominent players operating in the North America Medical Image Analysis Software industry. U.S. has captured the major share in North America medical image analysis software market due to the first mover advantage as majority of the players are headquartered in the U.S. Several M&A’s along with partnerships have been undertaken by these players to facilitate costumers with innovative and hi-tech products.

Reasons to buy (The research report presents):

  • Current and future market size from 2018 to 2025 in terms of value (US$)
  • Combined analysis of deep dive secondary research and input from primary research through Key Opinion Leader of the industry
  • Country level details of the prevalence of different kinds of diseases
  • Analysis of government and private sector initiative for the technology
  • A quick review of overall industry performance at a glance
  • An In-depth analysis of key industry players
  • A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis
  • The study comprehensively covers the market across different segments and sub-segments of the technology in North America
  • Countries covered: United States, Canada, Mexico and Others

Customization Options:

UMI understands that you may have your own business need, hence we also provide fully customized solutions to clients. The North America Medical Image Analysis Software Market can be customized for other North American countries as per the client’s requirement and based on data availability.

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  1.1Market Definition 
  1.2Objective of the Study
  1.3Limitation  
  1.4Stakeholders  
  1.5Currency used in the Report
  1.6Scope of the North American Medical Image Analysis Software Market

 

  2.1Research Methodology for North America Medical Image Analysis Software Market Study
   2.1.1Main objective of the Medical Image Analysis Software Market Study

 

 3.1North America

 

  6.1Introduction  
  6.2Market Dynamics 
   6.2.1Market Trend & Drivers
    6.2.1.1The Rising Prevalence of Diseases
    6.2.1.2The Rise in Applications of Computer Aided Diagnostics (CAD)
    6.2.1.3Stringent Government Regulations and Schemes for Medical Imagining
   6.2.2Market Restraints
    6.2.2.1High Cost of Software
    6.2.2.2Unavailability of Skilled Professionals
   6.2.3Market Opportunities
    6.2.3.1Rapid Technological Advancements in Medical Imaging Systems
    6.2.3.2Improving Healthcare Environment
  6.3Key Market Indicators
   6.3.1Demand and Supply Side Analysis
    6.3.1.1Top Winning Strategies
     6.3.1.1.1Top Product launches
     6.3.1.1.2Top Acquisition and Collaborations
     6.3.1.1.3Top Investment, funding’s and business expansion
  6.4Value Chain Analysis

 

  7.1General Overview 
   7.1.1Standalone Software
   7.1.2Integrated Software

 

  8.1General Overview 
   8.1.12-Dimensional Image (2D Image)
   8.1.23-Dimentional (3D)
   8.1.34-Dimensional (4D)

 

  9.1General Overview 
   9.1.1Computed Tomography (CT)
   9.1.2Positron Emission Tomography (PET)
   9.1.3Single Photon Emission Computed Tomography (SPECT)
   9.1.4Magnetic Resonance Imaging (MRI)
   9.1.5Ultrasound Imaging
   9.1.6X-Ray Imaging

 

  10.1General Overview 
   10.1.1Cardiovascular Medical Image Analysis Software
   10.1.2Neurology Medical Image Analysis Software
   10.1.3Orthopaedic Medical Image Analysis Software
   10.1.4Dental Medical Image Analysis Software
   10.1.5Mammography Medical Image Analysis Software
   10.1.6Obstetrics and Gynaecology Medical Image Analysis Software
   10.1.7Oncology Medical Image Analysis Software

 

  11.1General Overview 
   11.1.1Hospital 
   11.1.2Diagnostic Centres
   11.1.3Others (Research Laboratories)

 

  12.1General Overview 
  12.2The U.S. Medical Image Analysis Software Market
   12.2.1Key Findings on Healthcare Spending in the US, 2017
    12.2.1.1US Health Spending by Type of Service or Product, 2017
    12.2.1.2Health Spending by Major Sources of Funds
   12.2.2US Medical Image Analysis Software Market, by Software Type
   12.2.3US Medical Image Analysis Software Market, by Image Type
   12.2.4US Medical Image Analysis Software Market, by Imaging Technology
   12.2.5US Medical Image Analysis Software Market, by Application
   12.2.6US Medical Image Analysis Software Market, by End User
  12.3Canada Medical Image Analysis Software Market
   12.3.1Key Findings on Total Hospital Cost, by Health Conditions in Canada, 2016
   12.3.2Key Findings on Canada Healthcare Spending, 2018
   12.3.3Key Findings on Hospital sector Spending in Canada, 2018
   12.3.4Canada Medical Image Analysis Software Market, by Software Type
   12.3.5Canada Medical Image Analysis Software Market, by Image Type
   12.3.6Canada Medical Image Analysis Software Market, by Imaging Technology
   12.3.7Canada Medical Image Analysis Software Market, by Application
   12.3.8Canada Medical Image Analysis Software Market, by End User
  12.4Mexico Medical Image Analysis Software Market
   12.4.1Key Findings on Healthcare Spending in Mexico, 2016
   12.4.2Mexico Medical Image Analysis Software Market, By Software Type
   12.4.3Mexico Medical Image Analysis Software Market, By Image Type
   12.4.4Mexico Medical Image Analysis Software Market, By Imaging Technology
   12.4.5Mexico Medical Image Analysis Software Market, By Application
   12.4.6Mexico Medical Image Analysis Software Market, By End User
  12.5Rest of the NA Medical Image Analysis Software Market (2018-2025)
   12.5.1Rest of NA Medical Image Analysis Software Market, By Software Type
   12.5.2Rest of NA Medical Image Analysis Software Market, By Image Type
   12.5.3Rest of NA Medical Image Analysis Software Market, By Imaging Technology
   12.5.4Rest of NA Medical Image Analysis Software Market, By Application
   12.5.5Rest of NA Medical Image Analysis Software Market, By End User

 

  13.1Porter’s Five Forces Analysis
   13.1.1Bargaining power of Buyer
   13.1.2Bargaining power of Supplier
   13.1.3Threat of new entrants
   13.1.4Availability of Substitute
   13.1.5Industry Rivalry
  13.2Diagnostic Imaging Market Share Analysis, by Company

 

  14.1Canon Inc.  
   14.1.1Key Facts 
   14.1.2Business Description
   14.1.3Key Product/Services Offerings
   14.1.4SWOT Analysis
   14.1.5Key Financials
    14.1.5.1Revenue Split, by Region and Segment, 2018
   14.1.6Recent Developments
  14.2Fujifilm Holdings Corporation
   14.2.1Key Facts 
   14.2.2Business Description
   14.2.3Key Product/Services Offerings
   14.2.4SWOT Analysis
   14.2.5Key Financials
    14.2.5.1Revenue Split, by Region and Segment, 2018
   14.2.6Recent Developments
  14.3Watson Health Imaging
   14.3.1Key Facts 
   14.3.2Business Description
   14.3.3Key Product/Services Offerings
   14.3.4SWOT Analysis
   14.3.5Recent Developments
   14.3.6Funding 
  14.4General Electric Company
   14.4.1Key Facts 
   14.4.2Business Description
   14.4.3Key Product/Services Offerings
   14.4.4SWOT Analysis
   14.4.5Key Financials
    14.4.5.1Revenue Split, by Region and Segment, 2018
   14.4.6Recent Developments
  14.5McKesson Corporation.
   14.5.1Key Facts 
   14.5.2Business Description
   14.5.3Key Product/Services Offerings
   14.5.4SWOT Analysis
   14.5.5Key Financials
   14.5.6Recent Developments
  14.6Agfa-Gevaert NV 
   14.6.1Key Facts 
   14.6.2Business Description
   14.6.3Key Product/Services Offerings
   14.6.4SWOT Analysis
   14.6.5Key Financials
    14.6.5.1Revenue Split, by Region and Segment, 2018
   14.6.6Recent Developments
  14.7Esaote S.p.A.  
   14.7.1Key Facts 
   14.7.2Business Description
   14.7.3Key Product/Services Offerings
   14.7.4SWOT Analysis
   14.7.5Recent Developments
  14.8Koninklijke Philips N.V.
   14.8.1Key Facts 
   14.8.2Business Description
   14.8.3Key Product/Services Offerings
   14.8.4SWOT Analysis
   14.8.5Key Financials
    14.8.5.1Revenue Split, by Region and Segment, 2018
   14.8.6Recent Developments
   14.8.7Funding 
  14.9Siemens Healthineers AG.
   14.9.1Key Facts 
   14.9.2Business Description
   14.9.3Key Product/Services Offerings
   14.9.4SWOT Analysis
   14.9.5Key Financials
    14.9.5.1Revenue Split, by Region and Segment
   14.9.6Recent Developments
  14.10Hitachi Healthcare Manufacturing, Ltd.
   14.10.1Key Facts 
   14.10.2Business Description
   14.10.3Key Product/Services Offerings
   14.10.4SWOT Analysis
   14.10.5Recent Developments

 

Research Methodology

Analysing historical market, estimation of the current market and forecasting the future market of North America Medical Image Analysis Software were the three major steps involved in creating and analysing the overall adoption rate of medical image analysis software in the North American region. Exhaustive secondary research was done to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the North American medical image analysis software market. After all the assumption, market sizing and validation of market numbers through primary interviews, top-down approach was employed to forecast the complete market size of the medical image analysis software market in North American region. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyse the market size of segments and sub-segments of the technology. Detailed methodology is explained below:

Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the North America medical image analysis software market through company internal sources such as annual report & financial statements of top players, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications. For economic data collection, sources such as World Bank, CDC, U.S. Food and Drug Administration (FDA), and WHO among others were used.

Step 2: Market Segmentation:

After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market size and share for different segments & sub-segments for the North America medical image analysis software market. Major segments included in the report are software type, image type, imaging technology, application, and end-users. Analysis on sub-segments of the major segments of North America medical image analysis software were extensively studied.

Step 3: Factor Analysis:

After acquiring the historical market size of major segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the North America medical image analysis software market. Factor analysis was conducted using dependent and independent variable such as incidence and prevalence of chronic diseases in North America, rising applications of computer aided design (CAD), and technological advancements among others, along with consumer behavior while purchasing medical image software analysis etc. Historical trends of the of North America medical image analysis software market and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.

Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications area, market shares of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of medical image analysis software in North America
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as market share of each players. Also, the growth strategies adopted by these players to compete in the ever-growing North America medical image analysis software market

Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive at a precise statistical number for each segment and sub-segment pertaining to the North America medical image analysis software market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of application that includes cardiovascular, neurology, orthopedic, dental, mammography and other segments include 2D, 3D and 4D imaging.

Main objective of the North America Medical Image Analysis Software Market Study

The current & future market trends of the North America medical image analysis software market are pinpointed in the study. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the study. Current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as first mover advantage. Other quantitative goal of the studies includes:

  • Analyse the current and future market size of North America medical image analysis software in terms of value (US$). In addition, analyse the current and future market size of different segments and sub-segments of the market. The North American Medical Image analysis software market is segmented based on software type, image type, imaging technology, application, and end-users
  • Define and describe the technologies and protocols used in medical image analysis software
  • Anticipate potential risk associated with the technology along with customer and competitor analysis, among others
  • Define and analysis of the government regulations for medical image analysis software in North America
  • Analysis of the market for countries including United States, Canada, Mexico and rest of North America
  • Defile and analyse the competitive landscape and the growth strategies adopted by the market players to sustain in the ever-growing North American market