The global medical image analysis software market size is expected to reach USD 5.48 billion by 2030, expanding at a CAGR of 7.8% from 2024 to 2030, according to a new report by Grand View Research, Inc. Increasing incidence of chronic diseases creates demand for effective diagnostics solutions, which spurs the demand for medical image analysis software. The high growth is majorly attributed to a rise in the usage and uptake of image analysis solutions for diagnosis. Furthermore, the rising demand for medical image analysis software is being driven by the increased use of imaging equipment due to the rising prevalence of chronic diseases and developing applications of computer-aided diagnosis.
According to data by the National Health Council, in 2020, around 133 million Americans were affected by chronic diseases, accounting for more than 40% of the country’s total population. Thus, increasing cases of chronic diseases lead to an upsurge in the usage of medical imaging techniques. In addition, shifting focus to providing enhanced care has led to the incorporation of various computer-aided diagnosis systems, which is further contributing to the market growth. The introduction of technologically advanced products, such as 3D/4D platforms and multimodality imaging platforms, is also presumed to boost the demand for the software. An increase in medical imaging procedures will further drive the market growth.
Gather more insights about the market drivers, restrains and growth of the Global Medical Image Analysis Software Market
According to Science Direct, in the U.S. alone, around 600 million imaging operations are performed each year. This shows the potential demand for medical image analysis software solutions. Various benefits, such as flexibility and high-resolution images, along with convenient use of multi-modal integrated workflows are expected to bolster the demand and increase product penetration over the forecast period. Stand-alone platforms are anticipated to witness steady growth. These platforms are user-friendly, and cost less as compared to integrated solutions. These solutions offer more details and features and are used by researchers, allowing them to share and access research data and analyses, thereby enhancing their ability to diagnose, research, monitor, and treat disorders.
For instance, GE healthcare’s ViewPoint 6 (for MFM) is a standalone software designed for dedicated ultrasound reporting and image management. Artificial Intelligence (AI) in medical imaging has impacted market dynamics in recent years and is expected to have a positive impact on the market. For instance, in March 2021, Royal Philips and DiA Imaging Analysis entered into a strategic partnership to provide clinicians with automated solutions at the point of care. Philips’ industry-leading ultrasound picture quality, combined with DiA’s AI library of automated solutions, will assist Point-of-Care customers in and out of the hospital and improve diagnostic confidence, operational efficiency, and access to care.
Medical Image Analysis Software Market Report Highlights
Cardiology accounted for the largest revenue share of 20.3% in 2023. The growth is attributed to the high prevalence of cardiovascular and congenital heart diseases and government support to improve the accessibility of treatments.Based on end-use, the global market is segmented into hospitals, diagnostic centers, Ambulatory Surgical Centers (ASCs), and others. In 2023, hospitals held the largest revenue share of approximately 35.9%.North America dominated with the largest revenue share of about 36.7% in 2023. This expansion can be attributed to the presence of well-established healthcare facilities equipped with advanced diagnostic equipment and favorable government initiatives promoting the adoption of healthcare IT.Asia Pacific is anticipated to exhibit the second-fastest CAGR over the forecast period, owing to the increasing adoption of software by healthcare professionals.Browse through Grand View Research's Healthcare IT Industry Research Reports.
Medical Billing Software Market: The global medical billing software market size was estimated at USD 16.34 billion in 2023 and is projected to grow at a CAGR of 10.2% from 2024 to 2030.Medical Speech Recognition Software Market: The global medical speech recognition software market size was valued at USD 1.52 billion in 2023 and is estimated to grow at a CAGR of 11.16% from 2024 to 2030.
Medical Image Analysis Software Market Segmentation
Grand View Research has segmented the global medical image analysis software market report based on software type, modality, imaging type, application, end-use, and region:
Medical Image Analysis Software Type Outlook (Revenue, USD Million, 2018 - 2030)
Integrated SoftwareStand-alone SoftwareMedical Image Analysis Software Modality Outlook (Revenue, USD Million, 2018 - 2030)
TomographyComputed TomographyMagnetic Resonance ImagingPositron Emission TomographySingle-Photon Emission TomographyUltrasound Imaging2D3D&4DDopplerRadiographic ImagingCombined ModalitiesPET/MRSPECT/CTPET/MRMammographyMedical Image Analysis Software Imaging Type Outlook (Revenue, USD Million, 2018 - 2030)
2D Imaging3D Imaging4D ImagingMedical Image Analysis Software Application Outlook (Revenue, USD Million, 2018 - 2030)
OrthopedicDentalNeurologyCardiologyOncologyObstetrics & GynecologyMammographyUrology & NephrologyMedical Image Analysis Software End-use Outlook (Revenue, USD Million, 2018 - 2030)
HospitalsDiagnostic CentersAmbulatory Surgical Centers (ASCs)Others (Academic & Research Centers)Medical Image Analysis Software Regional Outlook (Revenue, USD Million, 2018 - 2030)
North AmericaS.CanadaEuropeUKGermanyFranceItalySpainDenmarkSwedenNorwayAsia PacificJapanChinaIndiaAustraliaSouth KoreaThailandLatin AmericaBrazilMexicoArgentinaMiddle East & AfricaSouth AfricaSaudi ArabiaUAEKuwaitOrder a free sample PDF of the Medical Image Analysis Software Market Intelligence Study, published by Grand View Research.
