Medical Image Analysis Software Market is anticipated to expand at a strong CAGR of 8.10% by 2024, globally: Transparency Market Research

Albany, NY, Feb. 14, 2018 (GLOBE NEWSWIRE) —

According to Transparency Market Research, the medical image analysis software market is foreseen to experience significant growth with a strong CAGR of 8.10% within the forecast period, to attain a value of US$4.66 bn by 2024. Geographically, North America leads the race and in 2015 held 34% of overall market shares.

Rising Trend of Using of EHR to Propel Demand of Medical Image Analysis Software

Owing to rise in number of chronic illness around the world, the demand for medical image analysis software is a rising. Furthermore, the trend of utilizing electronic health records to store, circulate and manage patient’s health information as medical images is also boosting the medical image analysis software market. Besides, as a result of constant medical innovations, for example, computer aided diagnosis, there is a scope for tremendous progress in the usage of new and improved medical image software devices supporting in the treatment of a various types of sicknesses like tumor.

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In the medical image analysis, the health related issues are examined with the help of computerized image and different other imaging modalities. Medical image analysis software is used to improve the adequacy and proficiency of medical treatment. The upsides of utilizing such kind of software are upgraded image quality, high determination of images and multi-modular imaging stages which are favored by doctors. It also enables sharing of medical image records among specialists and healing centers thereby making the task of diagnosing and treating much easier. These are the components driving the worldwide medical image analysis software market.

Increase in Investments by Public and Private Firm to Fuel Overall Market Growth

The development of the market is credited to progress in medical imaging frameworks and analysis software, private and public investments in the medical imaging market, expanding utilization of imaging devices because of increase in the cases of chronic ailments, and rising uses of computer aided diagnosis. Developing requirement for automated image analysis devices, rising acceptance of cloud-based imaging systems, and undiscovered developing markets are expected to offer critical development scope for manufacturers in the coming few years.

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With the emergence of various leading players the overall medical image analysis software market exhibits an exceptionally fragmented landscape. Some of the prominent participants in the market are Siemens Healthineers, GE Healthcare, Hologic Inc., Pie Medical Imaging, Agfa-Gevaert N.V., Carestream Health, Inc., AQUILAB, Esaote SpA, Philips Healthcare, Sciencesoft USA Corporation, Mirada Medical Limited, Analogic Corporation, Merge Healthcare Inc., and Toshiba Medical Systems Corporation. These players, all things considered, are foreseen to account for 23.5% of the entire market in year in 2015. The report likewise profiles organizations that are predicted to stay dynamic in the worldwide medical image analysis software market till 2022. As of now, organizations are effectively engaged with product development to gain a competitive edge over their companions. Nevertheless, an attempt towards mergers and collaborations can be seen over the coming years.

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About TMR

Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

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