NEW YORK, July 22, 2022 /PRNewswire/ — According to the latest market research study published by P&S Intelligence, the size of the medical image analysis software market I was $3,112.7 million in 2021, and will grow at a rate of over 8%, to reach about $6,388.9 million by 2030. The growth can be attributed to population growth, the rising incidence of chronic diseases, and the expansion of computer-aided diagnostic applications.
Hospitals are the main users of such software, with a share of approximately 60% in 2021, as they have the supporting infrastructure that is vital for performing diagnoses and surgical interventions. Also, the number of imaging systems is higher in hospitals compared to diagnostic centers and research institutions. In addition, the influx of patients is relatively higher in hospitals, which makes the need of these users for advanced image analysis software the highest.
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Due to the large number of diagnostic and medical care centers and with North America Leading the way in healthcare research and development, it has the world’s largest revenue share of the medical image analysis software market. Furthermore, the constant updating of products for effective detection and image-guided surgeries will help the market maintain its leadership in the future.
APAC will record the highest growth rate of about 9% in the near future. The existence of many market players and the increasing awareness of early disease detection through cutting-edge diagnostic imaging technologies are the main factors supporting the growth of the medical image analysis software market.
Embedded software dominated the market, with a revenue share of more than 70% in 2021. This is due to the convenience that embedded image analysis software brings to medical diagnosis, through an effective workflow, easy and understandable. All hospital departments are connected and can easily regulate the radiological process and review the images.
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Cloud-based integration is all the rage due to the improved accessibility and storage scaling capabilities of cloud computing. Imaging systems with their cloud software also offer potentially unlimited data storage, cost-effectiveness, and data access to many users simultaneously, even from distant locations.
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In 2021, MRI was the top modality in the medical image analysis software market, with revenue of approx. $350 milliondue to the increasing demand for early and accurate diagnosis of diseases.
Increasing awareness of the potential benefits of MRI, the increasing prevalence of many chronic and lifestyle-related ailments such as cancer and cardiovascular disease, and the growing demand for cutting-edge imaging solutions drive the use of software to understand anatomical images formed by magnetic resonance imaging. .
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