North America Medical Image Analysis Software Market: Insights and Forecast 2019-2025

North America Medical Image Analysis Software Market: Insights and Forecast 2019-2025

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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Published: May-2019

Pages:139

Table:38

Figure:11

Report ID:UMHE19143

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.

             
             
  1 MARKET INTRODUCTION  
    1.1 Market Definition  
    1.2 Objective of the Study
    1.3 Limitation    
    1.4 Stakeholders    
    1.5 Currency used in the Report
    1.6 Scope of the North American Medical Image Analysis Software Market
  2 RESEARCH METHODOLOGY  
    2.1 Research Methodology for North America Medical Image Analysis Software Market Study
      2.1.1 Main objective of the Medical Image Analysis Software Market Study
  3 REGULATORY FRAMEWORK  
    3.1 North America  
  4 INDUSTRY PERFORMANCE  
  5 EXECUTIVE SUMMARY  
  6 MARKET OVERVIEW    
    6.1 Introduction    
    6.2 Market Dynamics  
      6.2.1 Market Trend & Drivers
        6.2.1.1 The Rising Prevalence of Diseases
        6.2.1.2 The Rise in Applications of Computer Aided Diagnostics (CAD)
        6.2.1.3 Stringent Government Regulations and Schemes for Medical Imagining
      6.2.2 Market Restraints
        6.2.2.1 High Cost of Software
        6.2.2.2 Unavailability of Skilled Professionals
      6.2.3 Market Opportunities
        6.2.3.1 Rapid Technological Advancements in Medical Imaging Systems
        6.2.3.2 Improving Healthcare Environment
    6.3 Key Market Indicators
      6.3.1 Demand and Supply Side Analysis
        6.3.1.1 Top Winning Strategies
          6.3.1.1.1 Top Product launches
          6.3.1.1.2 Top Acquisition and Collaborations
          6.3.1.1.3 Top Investment, funding’s and business expansion
    6.4 Value Chain Analysis
  7 MARKET INSIGHTS BY SOFTWARE TYPE
    7.1 General Overview  
      7.1.1 Standalone Software
      7.1.2 Integrated Software
  8 MARKET INSIGHTS BY IMAGE TYPE
    8.1 General Overview  
      8.1.1 2-Dimensional Image (2D Image)
      8.1.2 3-Dimentional (3D)
      8.1.3 4-Dimensional (4D)
  9 MARKET INSIGHTS BY IMAGING TECHNOLOGY
    9.1 General Overview  
      9.1.1 Computed Tomography (CT)
      9.1.2 Positron Emission Tomography (PET)
      9.1.3 Single Photon Emission Computed Tomography (SPECT)
      9.1.4 Magnetic Resonance Imaging (MRI)
      9.1.5 Ultrasound Imaging
      9.1.6 X-Ray Imaging
  10 MARKET INSIGHTS BY APPLICATION
    10.1 General Overview  
      10.1.1 Cardiovascular Medical Image Analysis Software
      10.1.2 Neurology Medical Image Analysis Software
      10.1.3 Orthopaedic Medical Image Analysis Software
      10.1.4 Dental Medical Image Analysis Software
      10.1.5 Mammography Medical Image Analysis Software
      10.1.6 Obstetrics and Gynaecology Medical Image Analysis Software
      10.1.7 Oncology Medical Image Analysis Software
  11 MARKET INSIGHTS BY END USER
    11.1 General Overview  
      11.1.1 Hospital  
      11.1.2 Diagnostic Centres
      11.1.3 Others (Research Laboratories)
  12 MARKET INSIGHTS BY COUNTRY
    12.1 General Overview  
    12.2 The U.S. Medical Image Analysis Software Market
      12.2.1 Key Findings on Healthcare Spending in the US, 2017
        12.2.1.1 US Health Spending by Type of Service or Product, 2017
        12.2.1.2 Health Spending by Major Sources of Funds
      12.2.2 US Medical Image Analysis Software Market, by Software Type
      12.2.3 US Medical Image Analysis Software Market, by Image Type
      12.2.4 US Medical Image Analysis Software Market, by Imaging Technology
      12.2.5 US Medical Image Analysis Software Market, by Application
      12.2.6 US Medical Image Analysis Software Market, by End User
    12.3 Canada Medical Image Analysis Software Market
      12.3.1 Key Findings on Total Hospital Cost, by Health Conditions in Canada, 2016
      12.3.2 Key Findings on Canada Healthcare Spending, 2018
      12.3.3 Key Findings on Hospital sector Spending in Canada, 2018
      12.3.4 Canada Medical Image Analysis Software Market, by Software Type
      12.3.5 Canada Medical Image Analysis Software Market, by Image Type
      12.3.6 Canada Medical Image Analysis Software Market, by Imaging Technology
      12.3.7 Canada Medical Image Analysis Software Market, by Application
      12.3.8 Canada Medical Image Analysis Software Market, by End User
    12.4 Mexico Medical Image Analysis Software Market
      12.4.1 Key Findings on Healthcare Spending in Mexico, 2016
      12.4.2 Mexico Medical Image Analysis Software Market, By Software Type
      12.4.3 Mexico Medical Image Analysis Software Market, By Image Type
      12.4.4 Mexico Medical Image Analysis Software Market, By Imaging Technology
      12.4.5 Mexico Medical Image Analysis Software Market, By Application
      12.4.6 Mexico Medical Image Analysis Software Market, By End User
    12.5 Rest of the NA Medical Image Analysis Software Market (2018-2025)
      12.5.1 Rest of NA Medical Image Analysis Software Market, By Software Type
      12.5.2 Rest of NA Medical Image Analysis Software Market, By Image Type
      12.5.3 Rest of NA Medical Image Analysis Software Market, By Imaging Technology
      12.5.4 Rest of NA Medical Image Analysis Software Market, By Application
      12.5.5 Rest of NA Medical Image Analysis Software Market, By End User
  13 COMPETITIVE SCENARIO  
    13.1 Porter’s Five Forces Analysis
      13.1.1 Bargaining power of Buyer
      13.1.2 Bargaining power of Supplier
      13.1.3 Threat of new entrants
      13.1.4 Availability of Substitute
      13.1.5 Industry Rivalry
    13.2 Diagnostic Imaging Market Share Analysis, by Company
  14 TOP COMPANY PROFILES  
    14.1 Canon Inc.    
      14.1.1 Key Facts  
      14.1.2 Business Description
      14.1.3 Key Product/Services Offerings
      14.1.4 SWOT Analysis
      14.1.5 Key Financials
        14.1.5.1 Revenue Split, by Region and Segment, 2018
      14.1.6 Recent Developments
    14.2 Fujifilm Holdings Corporation
      14.2.1 Key Facts  
      14.2.2 Business Description
      14.2.3 Key Product/Services Offerings
      14.2.4 SWOT Analysis
      14.2.5 Key Financials
        14.2.5.1 Revenue Split, by Region and Segment, 2018
      14.2.6 Recent Developments
    14.3 Watson Health Imaging
      14.3.1 Key Facts  
      14.3.2 Business Description
      14.3.3 Key Product/Services Offerings
      14.3.4 SWOT Analysis
      14.3.5 Recent Developments
      14.3.6 Funding  
    14.4 General Electric Company
      14.4.1 Key Facts  
      14.4.2 Business Description
      14.4.3 Key Product/Services Offerings
      14.4.4 SWOT Analysis
      14.4.5 Key Financials
        14.4.5.1 Revenue Split, by Region and Segment, 2018
      14.4.6 Recent Developments
    14.5 McKesson Corporation.
      14.5.1 Key Facts  
      14.5.2 Business Description
      14.5.3 Key Product/Services Offerings
      14.5.4 SWOT Analysis
      14.5.5 Key Financials
      14.5.6 Recent Developments
    14.6 Agfa-Gevaert NV  
      14.6.1 Key Facts  
      14.6.2 Business Description
      14.6.3 Key Product/Services Offerings
      14.6.4 SWOT Analysis
      14.6.5 Key Financials
        14.6.5.1 Revenue Split, by Region and Segment, 2018
      14.6.6 Recent Developments
    14.7 Esaote S.p.A.    
      14.7.1 Key Facts  
      14.7.2 Business Description
      14.7.3 Key Product/Services Offerings
      14.7.4 SWOT Analysis
      14.7.5 Recent Developments
    14.8 Koninklijke Philips N.V.
      14.8.1 Key Facts  
      14.8.2 Business Description
      14.8.3 Key Product/Services Offerings
      14.8.4 SWOT Analysis
      14.8.5 Key Financials
        14.8.5.1 Revenue Split, by Region and Segment, 2018
      14.8.6 Recent Developments
      14.8.7 Funding  
    14.9 Siemens Healthineers AG.
      14.9.1 Key Facts  
      14.9.2 Business Description
      14.9.3 Key Product/Services Offerings
      14.9.4 SWOT Analysis
      14.9.5 Key Financials
        14.9.5.1 Revenue Split, by Region and Segment
      14.9.6 Recent Developments
    14.10 Hitachi Healthcare Manufacturing, Ltd.
      14.10.1 Key Facts  
      14.10.2 Business Description
      14.10.3 Key Product/Services Offerings
      14.10.4 SWOT Analysis
      14.10.5 Recent Developments

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

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

North America Medical Image Analysis Software Market: Insights and Forecast 2019-2025