PUNE, India, September 4, 2017 /PRNewswire/ -- According to a new market research report " Medical Image Analysis Software Market by Type (Standalone), Images (2D, 3D, 4D), Modality (CT, MRI, PET, Ultrasound), Application (Orthopedic, Dental, Oncology, Nephrology), End User (Hospital, Diagnostic Centre, Research) - Global Forecasts to 2022", published by MarketsandMarkets™, the market is expected to reach USD 3.88 Billion by 2022 from USD 2.61 Billion in 2017, at a CAGR of 8.2% during the forecast period.
The growth of the market is attributed to technological advancements in medical imaging systems & analysis software, growing public- and private-sector investments in the medical imaging market, increasing use of imaging equipment due to rising prevalence of chronic diseases, fusion of imaging technologies, and growing applications of computer-aided diagnosis. Growing need for automated image analysis tools, rising adoption of cloud-based imaging solutions, and untapped emerging markets are expected to offer significant growth opportunities for manufacturers in the coming years.
Integrated software to dominate the market in 2017
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Based on type, the Medical Image Analysis Software Market is segmented into integrated and standalone software. In 2017, the integrated software segment is expected to account for the largest share of the Medical Image Analysis Software Market. The compatibility of the software with the equipment is examined by the manufacturer beforehand and easy handling and fast processing are additional factors that contribute to the adoption of integrated image analysis software. However, the standalone software segment is expected to grow at the highest CAGR during the forecast period. Standalone software offers high flexibility and easy-to-use tools to inspect, evaluate, and process imaging data. These advantages are driving its growth in the market.
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On the basis of end user, hospitals are projected to grow at the highest CAGR
By end user, the Medical Image Analysis Software Market is segmented into hospitals, diagnostic centers, and research centers. Hospitals are expected to register the highest CAGR during the forecast period. The greater use of medical imaging software in hospitals & the higher installed base of diagnostic imaging systems (as compared to diagnostic and research centers) and high patient inflow (as compared to diagnostic centers) are expected to boost the demand for medical image analysis software in this segment.
