Medical Imaging Software Market Research Report: Information by Software Type (Integrated & Stand-Alone), Imaging Type (2D, 3D, & 4D), Modality (CT & MRI), Application (Neurology & Cardiology), & End User (Clinics & Hospitals) — Global Forecast till 2023

ID: MRFR/HC/6153-HCR | February 2021 | Region: Global | 90 pages

The global medical imaging software market is expected to grow significantly over the forecast period. The market held a market value of USD 2.66 billion in 2017 and is projected to grow at a CAGR of 8.4% over the forecast period. The medical imaging software has become the foundation of modern medical diagnostics by offering patient care and improved operating productivity. Medical imaging software aids healthcare professionals with ease of handling and greater flexibility while visualizing tissues, organs or other human body parts. Use of the medical imaging software has increased the accuracy and precision of medical diagnosis, treatment and disease supervision tremendously in recent years. The factors such as the emergence of 3D and 4D imaging technologies, growing government investment and funding’s for research in the modernization of medical imaging field are anticipated to boost the growth of the market over the forecast period., Moreover, the increasing prevalence of chronic diseases such as cardiovascular diseases and cancer, increased healthcare expenditure, the rise in the number of diagnostic centers and rise in geriatric population are driving the growth of this market. According to the World Population Prospects by the United Nations, approximately 962 million older population aged 60 and above were present globally as of 2017. This represents about 13% of the global population. A study by the National Institutes of Health (NIH) in 2015 reported that the utilization of imaging services among elderly patients (65 years and above) is at least twice as compared to that of the younger population. Despite the drivers, the high cost of equipment related to clinical validation and lack of skilled professionals may hinder the market growth during the assessment period., Segmentation, The global medical imaging software market has been segmented into software type, imaging type, modality, application, and end user., By software type, the market has been segmented into integrated software and stand-alone software., On the basis of imaging type, the market has been segmented into 2D imaging, 3D imaging, and 4D imaging., By modality, the market has been segmented into Computed Tomography (CT), MRI (Magnetic Resonance Imaging), radiography, photoacoustic imaging, nuclear medicine, echocardiography, ultrasound, thermography, and others., On the basis of application, the market has been segmented into neurology, cardiology, oncology, muscu

Market Scenario

Moreover, the increasing prevalence of chronic diseases such as cardiovascular diseases and cancer, increased healthcare expenditure, the rise in the number of diagnostic centers and rise in geriatric population are driving the growth of this market. According to the World Population Prospects by the United Nations, approximately 962 million older population aged 60 and above were present globally as of 2017. This represents about 13% of the global population. A study by the National Institutes of Health (NIH) in 2015 reported that the utilization of imaging services among elderly patients (65 years and above) is at least twice as compared to that of the younger population. Despite the drivers, the high cost of equipment related to clinical validation and lack of skilled professionals may hinder the market growth during the assessment period.

Segmentation

The global medical imaging software market has been segmented into software type, imaging type, modality, application, and end user.

By software type, the market has been segmented into integrated software and stand-alone software.

On the basis of imaging type, the market has been segmented into 2D imaging, 3D imaging, and 4D imaging.

By modality, the market has been segmented into Computed Tomography (CT), MRI (Magnetic Resonance Imaging), radiography, photoacoustic imaging, nuclear medicine, echocardiography, ultrasound, thermography, and others.

On the basis of application, the market has been segmented into neurology, cardiology, oncology, musculoskeletal, dental, obstetrics & gynecology, urology & nephrology, and others.

The market, by end user, has been segmented into clinics & hospitals, diagnostic centers, research laboratories, and others.

The global medical imaging software market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The medical imaging software market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada.

The European medical imaging software market has been segmented into Western Europe and Eastern Europe. The Western Europe medical imaging software market has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe.

The medical imaging software market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The medical imaging software market in the Middle East & Africa has been segmented into the Middle East and Africa.

Key players

GE Healthcare, Siemens Healthineers, Agfa-Gevaert N.V., Hologic Inc., Pie Medical Imaging, Media Cybernetics, Inc., AQUILAB, MIM Software Inc., Merge Healthcare Incorporated, ScienceSoft USA Corporation, Acuo Technologies, Fujifilm Holding Company, IBM Corporation, and others are some of the prominent players in the global medical imaging software market.

Regional Market Summary

Global Medical Imaging Software Systems Market Share (%), by Region, 2017

Medical Imaging Software Market

Source: White Papers, Company Presentations, Annual Reports

Geographically, the Americas is anticipated to dominate the global medical imaging software market owing to the high clinical R&D budgets by both governments as well as public and private organizations in medical imaging sector and rising adoption of advanced technologies. According to the US Investments in Medical and Health Research and Development 2013-2015, a report by Research America, in 2015, total US medical and health R&D in the US was USD 158.7 billion.

Moreover, the increasing prevalence of geriatric population and the subsequent growth in the incidence of a variety of diseases in the region contributes to the market growth. According to the World Health Organization (WHO), in the US, more than 20% of the total population would be aged 65 years or over by 2030. This growing patient pool is powering this market.

Europe is expected to hold the second largest position in the global medical imaging software market. The market growth in this region is attributed to the presence of strong academic & research base and availability of funding for research in the European countries. For instance, the European Research Council (ERC) provides grants for technological and scientific research conducted within the European Union (EU). Additionally, an increased number of diagnostics centers, robust healthcare infrastructure and raising awareness among people for early detection of diseases is driving this market.

The medical imaging software market in Asia-Pacific region consists of countries namely China, Japan, Republic of Korea, India, Australia and Rest of Asia-Pacific. The Asia-Pacific region is expected to be fastest growing region owing to increasing demand for technologically advanced software solutions, improving healthcare infrastructure and high growth opportunities for major key players for setting up their regional headquarters and manufacturing plants in this region.

The Middle East & Africa is expected to hold the lowest share of the global medical imaging software market. Majority of the market of the region is anticipated to be held by the Middle East region owing to the growing government initiatives for the healthcare sector.

Global Medical Imaging Software Market, by Software type

Integrated Software

Stand-alone Software

Global Medical Imaging Software Market, by Imaging type

2D imaging

3D imaging

4D imaging

Global Medical Imaging Software Market, by Modality

Computed Tomography (CT)

Magnetic Resonance Imaging (MRI)

Radiography

Photoacoustic imaging

Nuclear Medicine

Echocardiography

Ultrasound

Thermography

Others

Global Medical Imaging Software Market, by Application

Neurology

Cardiology

Oncology

Musculoskeletal

Dental

Obstetrics & Gynecology

Urology & Nephrology

Others

Global Medical Imaging Software Market, by End User

Clinics & Hospitals

Diagnostic centers

Research laboratories

Others

Global Medical Imaging Software Market, by Region

Americas
- North America
  - US
  - Canada
- Latin America

Europe
- Western Europe
  - Germany
  - France
  - Italy
  - Spain
  - UK
  - Rest of Western Europe
- Eastern Europe

Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific

The Middle East & Africa
- Middle East
- Africa

Company Profiles

GE Healthcare

Siemens Healthineers

Agfa-Gevaert N.V.

Hologic Inc.

Pie Medical Imaging

Media Cybernetics, Inc.

AQUILAB

MIM Software Inc.

Merge Healthcare Incorporated

ScienceSoft USA Corporation

Acuo Technologies

Fujifilm Holding Company

IBM Corporation

Others

Intended Audience

Diagnostic imaging equipment vendors/service providers

Standalone image analysis software/workstation providers

Healthcare IT service providers

Contract Research Organizations (CROs)

Research and Development (R&D) Companies

Government Research Laboratories

Independent Research Laboratories

Venture capitalists

Diagnostic centers

Market Research and Consulting Service Providers

Academic Institutes and Universities

Frequently Asked Questions (FAQ) :

What is the valuation of the market?

The global medical imaging software market was valued at USD 2.66 billion in 2017.

What is the CAGR of the market?

The global market is expected to exhibit a solid 8.4% CAGR over the forecast period from 2018 to 2023.

What is the leading driver for the market?

The increasing demand for accurate medical imaging and image archiving is the major driver for the global medical imaging software market.

What is the leading regional market?

The Americas is the leading regional market for medical imaging software.

What are the key players in the market?

Leading players in the medical imaging software market include GE Healthcare, MIM Software, Hologic, Fujifilm, IBM, and Acuo Technologies, among others.

Table of Contents:

Chapter 1. Report Prologue

Chapter 2. Market Introduction

2.1 Definition

2.2 Scope of the Study

2.2.1 Research Objective

2.2.2 Assumptions

2.2.3 Limitations

Chapter 3. Research Methodology

3.1 Introduction

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

Chapter 4. Market Dynamics

4.1 Drivers

4.2 Restraints

4.3 Opportunities

4.4 Challenges

4.5 Macroeconomic Indicators

4.6 Detection Technique Trends & Assessment

Chapter 5. Market Factor Analysis

5.1 Porter’s Five Forces Analysis

5.1.1 Bargaining Power of Suppliers

5.1.2 Bargaining Power of Buyers

5.1.3 Threat of New Entrants

5.1.4 Threat of Substitutes

5.1.5 Intensity of Rivalry

5.2 Value Chain Analysis

5.3 Investment Feasibility Analysis

5.4 Pricing Analysis

Chapter 6. Global Medical Imaging Software Market, by Software type

6.1 Introduction

6.2 Integrated Software