Medical Image Analysis Software Market by Imaging Type (2D Imaging, 3D Imaging, and 4D Imaging), Modality (Tomography, Ultrasound Imaging, Radiographic Imaging, and Combined Modalities), Software Type (Integrated Software and Standalone Software), Application (Orthopedic, Neurology, Dental, Obstetrics & Gynecology, and Others), End User (Hospitals, Diagnostic Centers, Ambulatory Surgical Centers (ASCs), and Others): Global Market Size Estimates and Forecast (2022-2030)

The market crossed US$ 3.0 billion mark in 2022 and is expected to hit US$ 6.0 billion by 2030, recording a CAGR of 8.0% during the forecast period.

Medical Imaging Analysis Software is world-changing

According to the Objectivity Ltd. 2022 report, the demand for medical imaging is growing, resulting in an increased amount of data seeking for processing. Also, medical specialists present globally are flooded with all kinds of data required for collecting, processing, and analyzing. For example, medical images make up around 90% of the data in healthcare. Therefore, with medical images generating the vast majority of data that requires processing and analysis in the healthcare industry, digital solutions such as medical image analysis software can come to the rescue. For example, with the utility of machine learning algorithms and large training datasets, medical image analysis software is capable of accurately recognizing symptoms of specific conditions among patient groups. Such type of diagnostic tools can assist healthcare organizations in offering better and more-efficient care. The integrated software segment is expected to pace with the high adoption of integrated systems due to its benefits, such as cost-effectiveness, centralized data storage, and access to live data for multiple users to process during the forecasted year.

Within the report, the market is segmented into imaging type, modality, software type, application, end user, and geography. On the basis of imaging type, the market is segmented into 2D imaging, 3D imaging, and 4D imaging. By modality, the market is segmented as tomography, ultrasound imaging, radiographic imaging, and combined modalities. By software type, the market is bifurcated into integrated software and standalone software. Based on application, the market is segmented as orthopedic, neurology, dental, obstetrics & gynecology, and others. Furthermore, the end user segment is segregated as hospitals, diagnostic centers, ambulatory surgical centers (ASCs), and others. Geographically, the market is sub segmented into North America, Europe, Asia Pacific, South & Central America, and Middle East & Africa.

Hospitals recommend the adoption of medical image analysis software ultimately driving the market growth.

By end user, the hospital segment accounts for the largest market share of the medical image analysis software market during the forecast period. Supportive infrastructure plays a critical role in performing surgical interventions using medical imaging software, standing as a standalone factor driving the hospital segment growth. Also, favorable reimbursement initiatives by the government result in greater surgery volumes, thereby dominating segmental growth. The aforementioned factors highly contribute to the overall market growth of medical image analysis software during the forecast period.

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The tomography segment will boost growth for the medical image analysis software market.

According to the Cleveland Clinic 2022 report, tomography is a useful diagnostic tool for detecting diseases and injuries. For example, a tomography instrument utilizes a series of X-rays and a computer to produce a 3D image of soft tissue and bones. Moreover, CT is a painless, non-invasive way for healthcare providers to diagnose conditions at a hospital or imaging center. Further, introducing advanced products accelerates demand for tomography with product innovations by competitive players. For instance, in June 2019, ClariPiInc announced receiving FDA clearance for AI-enabled CT scanners, namely, "ClariCT.AI.” Such aforementioned factors are responsible for segmental growth contributing to overall market growth of medical image analysis software during the forecast period.

Recent strategic developments in the medical image analysis software market

The medical image analysis software market has undergone several significant developments, and a few of these have been mentioned below:

• In July 2022, Philips, announced receiving US Food and Drug Administration (FDA) approval for its new product namely "SmartSpeed Artificial Intelligence (AI)" powered MR acceleration software. Adding advanced AI data collection algorithms to Philips’s existing Compressed SENSE MR acceleration engine the product delivers higher image resolution with 3 times faster scan times and no loss in image quality presenting a breakthrough in diagnostic confidence and MR department productivity.
• In March 2022, Siemens Healthineers, announced a new product launch namely, " MAGNETOM Free.Star" for the new generation of scanners with a revolutionary High-V-MRI platform.

The medical image analysis software market is driven by several players by implementing strategic activities such as investments, new launches, mergers & acquisitions, and partnerships. Toshiba International Corporation, Spacelabs Healthcare, MIM Software Inc., Carestream Health, Koninklijke Philips N.V., Siemens Healthcare Private Limited, ClaroNav, ESAOTE SPA, General Electric Company, XINAPSE SYSTEMS LTD are among the prominent players operating in the market.

Target audience for the report:

• Medical image analysis software service providers
• Medical image analysis software related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists, private equity firms, and start-up companies
• End users of Cold pain therapy
• Research institutes, organizations, and consulting companies

Scope of the report:

In this report, the market has been segmented on the basis of:

• Imaging Type:
  • 2D Imaging
  • 3D Imaging
  • 4D Imaging

• Modality
  • Tomography
  • Ultrasound Imaging
  • Radiographic Imaging
  • Combined Modalities
• Software Type:
  • Integrated Software
  • Standalone Software
• Application
  • Orthopedic
  • Neurology
  • Dental
  • Obstetrics & Gynecology
  • Others
• End User
  • Hospitals
  • Diagnostic Centers
  • Ambulatory Surgical Centers (ASCs)
  • Others
• Region
  • North America
  • Europe
  • Asia Pacific (APAC)
  • South & Central America
  • Middle East & Africa
• Companies profiled
  • Toshiba International Corporation
  • Spacelabs Healthcare
  • MIM Software Inc.
  • Carestream Health
  • Koninklijke Philips N.V.
  • Siemens Healthcare Private Limited
  •  ClaroNav
  • ESAOTE SPA
  • General Electric Company
  • XINAPSE SYSTEMS LTD