Global Medical Image Analysis Software Market to 2028: Incorporation of AI in Medical Image Analysis Software Drives Growth
Dublin, April 28, 2023 (GLOBE NEWSWIRE) -- The "Global Medical Image Analysis Software Market Size, Share & Industry Trends Analysis Report by Type, Modality, End User, Application, Regional Outlook and Forecast, 2022-2028" report has been added to ResearchAndMarkets.com's offering.
The Global Medical Image Analysis Software Market size is expected to reach $6.6 billion by 2028, rising at a market growth of 11.4% CAGR during the forecast period.
Key Market Players
Canon, Inc. (Canon Medical Systems Corporation)
Koninklijke Philips N.V.
GE HealthCare Technologies, Inc.
Siemens Healthineers AG (Siemens AG)
Spacelabs Healthcare (OSI Systems, Inc.)
MIM Software, Inc.
Aquilab SAS (Coexya)
Merative L.P. (Francisco Partner)
Medical personnel can track, archive, organize, and manipulate patient images using medical image analysis software. In addition, diagnostic equipment must have medical image analysis software since it enhances the qualities of an image, improving the effectiveness or efficiency of medical therapy. The purpose of this software is to save, view, train, and share medical data.
Growing demand for diagnostic imaging software in disciplines, including dental, orthopedics, neurology, urology, and oncology, is projected to expand the market. Furthermore, the need is anticipated to increase as ultrasonic imaging devices are used more frequently for quicker diagnosis, particularly chronic disorders. Additionally, it is projected that ongoing advancements in imaging technologies, like computer-aided diagnosis (CAD), would increase demand for these systems.
Furthermore, medical image analysis software market dynamics have evolved in recent years as a result of the advent of artificial intelligence (AI), and this is expected to continue in the near future. Applications for AI-based solutions in medical imaging include image analysis, clinical decision support, diagnosis, and detection. Although the use of AI in MRI and CT technologies is still in its infancy, it is projected that demand for efficiency, accuracy and patient safety will grow throughout the forecast period.
Growing consumer demand is fueled by the adoption of technologically advanced goods such as multimodality imaging platforms and 3D imaging, as well as the advantages of using these systems, like high-resolution imaging, easy use, and flexibility. In the upcoming years, the market expansion is anticipated to be fueled by the release of technologically sophisticated products and the development of effective information management systems.
Market Growth Factors
Incorporation of AI in medical image analysis software
Medical imaging has proven to be an indispensable diagnostic and monitoring tool for serious diseases and disorders. Artificial intelligence (AI) improves picture processing and analysis in medical imaging.
AI-enabled medical image analysis software utilizes enormous quantities of medical data to train its algorithms to recognize certain anatomical markers in medical pictures acquired from X-rays, magnetic resonance imaging (MRI), ultrasound imaging, and other modalities. Using image algorithms and a rigorous study of medical picture patterns, AI-enabled software for medical image analysis derives metrics and outputs.
Technological enhances in medical imaging systems
ML will enable radiologists to discover and interpret results, control quality, and potentially automate findings, interpretations, and dosage estimation in radiological imaging by automating the correlation and integration of pictures with other data.
Using data-driven decisions, point-of-care medical imaging also supports radiologists, emergency personnel, doctors, and patients in hastening diagnosis and treatment. These innovative technological advancements are anticipated to support the growth of the medical image analysis software market in the upcoming years.
Market Restraining Factors
Rising concern regarding the software's compliance & security
In the medical image analysis software market, hacking is a significant issue because hackers can readily manipulate system equipment, leading to data breaches or affecting patient outcomes. In addition, the growing reliance on software exacerbates problems such as bugs, malfunctions, and cyber vulnerability.
Due to the detrimental effects of inadvertent malfunction and hacking, healthcare practitioners are cautious about using IT solutions, like image analysis software, in medical procedures. Loss of effectiveness & adverse consequences on patients may come from tampering with medical equipment. This may be an obstacle to the expansion of the market in the years to come.
Scope of the Study
Magnetic Resonance Imaging
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