Medical Image Analysis Software Market

Medical Image Analysis Software Market Size

Medical Image Analysis Software Market size was valued at USD 3.5 billion in 2023 and is expected to grow at a CAGR of 7% between 2024 and 2032. The market has witnessed substantial expansion propelled by the increasing prevalence of chronic diseases and the escalated demand for diagnostic imaging solutions, necessitating the use of medical image solutions. Healthcare professionals increasingly rely on medical imaging instruments to visualize organs, optimize surgical outcomes, and utilize preoperative magnetic resonance imaging (MRI) & computed tomography (CT) scans to assess tumor dimensions raising the consistent imaging solution demand.

Furthermore, the worldwide increase in cancer incidence, as indicated by the GLOBOCAN 2022 data update, with approximately 1.9 million new cases diagnosed globally in 2022, featured the necessity for advanced medical imaging solutions, thus increasing the diagnostic sector and driving the market demand.

Medical image analysis software refers to specialized software designed to assist healthcare professionals in interpreting and analyzing medical images obtained by various imaging modalities. This software utilizes advanced algorithms and tools to enhance image visualization, extract quantitative data, identify abnormalities, and aid in diagnosis, treatment planning, and monitoring of diseases.

Medical Image Analysis Software Market Trends

• The rising elderly population has corresponded with a significant uptick in chronic conditions projected to drive the market demand in coming years. For instance, a study published by NCBI in September 2021 revealed that global peripheral arterial disease (PAD) prevalence stands between 3% to 12%, impacting approximately 27 million individuals in the U.S. and Europe alone.
  
• Similarly, in Europe, PAD prevalence is estimated at 17.8% among individuals aged 45 to 55. This surge in disease prevalence is expected to drive the utilization of diagnostic imaging tools, thereby bolstering the medical imaging analysis software market.
  

Medical Image Analysis Software Market Analysis

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Based on the software type, the market is categorized into integrated and standalone. The integrated segment is expected to sustain its leading position, forecasted to yield higher revenue projecting dominance throughout the forecast period.

• The substantial market share was attributed to the benefits associated with the adoption of integrated solutions.
  
• The integrated toolkit is tailored for various radiology applications, aiming to improve workflow efficiency. For instance, Philip’s Xcelera Cardiology Information Management functions as an integrated software solution for image management, streamlining access to advanced clinical applications and enhancing clinical workflow processes.
  
• Thus, usage of integrated systems, driven mainly by their cost-effectiveness, centralized data storage capabilities, and ability to provide multiple users with real-time data access for processing is expected to fuel growth in this market.
  

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Based on modality, the medical image analysis software market is classified into tomography, ultrasound imaging, radiographic imaging, and combined modalities. The tomography segment held over 43.1% of the market share in 2023.

• The dominance of the tomography segment in the market is rooted in its widespread utilization across various imaging modalities such as CT scanners, MRI systems, and positron emission tomography (PET) among others. These modalities are pivotal in the diagnosis of various medical conditions, spanning from neurological disorders to cancer.
  
• Also, tomography techniques offered detailed, cross-sectional images of the body, enabling healthcare professionals to visualize internal structures with exceptional clarity. Their versatility and effectiveness in clinical practice make them indispensable tools, driving the tomography segment's dominance in the market.
  

Based on imaging type, the medical image analysis software market is classified into 2D, 3D, and 4D. The 3D imaging type segment accounted for 41.5% of the market in 2023.

• 3D imaging has emerged as the most attractive segment, driven by its expanding applications and the growing prevalence of diseases such as cardiovascular, cancer, and neurological conditions. According to research, 3D imaging is extensively utilized across various imaging modalities including CT, MRI, PET, ultrasound, and radiography. For instance, in breast imaging, digital tomosynthesis (known as 3D mammography) has established itself as the standard. Thus, with the increasing demand for accurate diagnostic tools and treatment planning solutions, 3D imaging continues to be favored by healthcare professionals, driving its dominance in the market.
  

Based on application, the medical image analysis software market is classified into orthopedic, dental, neurology, cardiology, oncology, obstetrics & gynecology, mammography, respiratory and other applications. The cardiology segment is poised to cross USD 1.3 billion by 2032.

• The cardiology segment was accredited due to the elevated occurrence of cardiovascular and congenital heart disease, coupled with governmental support aimed at enhancing treatment accessibility. For instance, in February 2020, the U.S. FDA approved the marketing of software designed to aid medical practitioners in acquiring echocardiography or cardiac ultrasound images. This software, named Caption Guidance, served as an adjunct to compatible diagnostic ultrasound systems, leveraging artificial intelligence to assist users in capturing high-quality heart images.
  
• In addition, innovations such as AI-powered software for cardiac imaging further solidified cardiology's position as a key driver in the market, catering to the growing demand for precise and efficient diagnostic solutions.
  

Based on the end-user, the medical image analysis software market is classified into hospitals, diagnostic centers, ambulatory surgical centers, and other end-users. Hospitals are expected to retain their market dominance, displaying significant growth, and generating the highest revenue in 2023.

• The hospital's dominance stemmed from the high demand for advanced imaging technologies for diagnosis and treatment planning. The extensive infrastructure and patient volume facilitate the adoption of sophisticated imaging solutions, making them primary drivers in the market.
  
• Additionally, collaborations with software vendors and regulatory compliance further bolster hospitals' prominence in the industry. For instance, in February 2024, GE Healthcare formed a decade-long collaborative partnership with OSF HealthCare and Pointcore, Inc., aiming to enhance clinical and operational efficiencies, standardize care delivery models, and enhance patient outcomes. This agreement is the culmination of extensive collaboration across various initiatives, including healthcare technology management and diagnostic imaging technology advancements.
  
• Thus, the above-mentioned factors contribute to the market's expansion, emphasizing the crucial role of hospitals.
  

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North America medical image analysis software market size is set to exhibit a robust CAGR of 6.9% through 2032.

• The region's growth was attributed to its robust healthcare infrastructure, featuring sophisticated diagnostic equipment, and government initiatives endorsing healthcare IT adoption. The region's dominance is further accentuated by significant product launches, a dense presence of market players, and strategic acquisitions and partnerships among industry leaders.
  
• Furthermore, the escalated prevalence of chronic diseases necessitated extensive imaging scans for diagnosis and treatment. Advanced scanning procedures such as CT, angiography, and perfusion CT have transformed diagnostics and therapies, prompting hospitals and diagnostic centers to seek sophisticated software for enhanced patient analysis. Thus, the aforementioned factors contribute to the region's dominance in the market.
  

Medical Image Analysis Software Market Share

The market comprises competing in the industry, with key players prioritizing innovation and leveraging vast industry experience. The emerging companies are also gaining ground by offering specialized software solutions to cater the advanced medical imaging needs. These companies focus on forming partnerships, pursuing mergers, and acquisitions to enhance market presence and deliver comprehensive healthcare solutions worldwide.

Medical Image Analysis Software Market Companies

Prominent players operating in the medical image analysis software industry are as mentioned below:

• Aidoc
• CardioComm Solutions Inc.
• Canon Medical Systems USA
• eMedica, S.
• Esaote SPA
• Evident
• GE HealthCare Technologies, Inc.
• Koninklijke Philips N.V.,
• Leica Microsystems
• Medis Medical Imaging Systems
• Siemens Healthineers AG
• Spacelabs Healthcare
• Thermo Fisher Scientific Inc.
  

Medical Image Analysis Software Industry News:

• In August 2023, Kitware and Polarean, Inc. secured U.S. FDA approval for their lung imaging technology collaboration. Polarean's XENOVIEW VDP software analyzes pulmonary hyperpolarized 129Xe MR and proton chest MR images to visualize and assess lung ventilation in patients aged 12 years and older. This collaborative effort utilized the advanced 3D Slicer medical visualization platform to create tailored medical imaging software, thereby strengthening business portfolio.
  
• In April 2022, Clairvo Technologies, Inc. received market authorization for VIDA Insights, a chest CT image analysis software developed by VIDA Diagnostics Inc., under the Pharmaceutical and Medical Device Act (“PMD Act”). This marks Clairvo’s first product certified under the PMD Act. The launch equipped physicians with quantitative data and impactful visualizations.
  

The medical image analysis software market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2018 - 2032 for the following segments:

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Market, By Software Type

• Integrated
• Standalone

Market, By Modality

• Tomography
• Computed tomography
  • High-slice
  • Mid-slice
  • Low-slice
  • Cone beam
• Magnetic resonance imaging
  • Open system
  • Closed system
• Positron emission tomography
• Single-photon emission tomography 
• Ultrasound Imaging
  • 2D
  • 3D & 4D
  • Doppler
• Radiographic imaging
• Combined modalities
  • PET/MR
  • SPECT/CT
  • PET/CT

Market, By Imaging Type

• 2D
• 3D
• 4D

Market, By Application

• Orthopedic
• Dental
• Neurology
• Cardiology
• Oncology
• Obstetrics & gynecology
• Mammography
• Respiratory
• Other applications

Market, By End-user

• Hospitals
• Diagnostic centers
• Ambulatory surgical centers
• Other end-users

The above information has been provided for the following regions and countries:

• North America
  • U.S.
  • Canada 
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East and Africa
  • South Africa
  • Saudi Arabia
  • Rest of Middle East and Africa