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Medical Image Analysis Software Market News Latest Update Trends, Current Demand, and Business Opportunities

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The global medical imaging analysis software market is expanding at a respectable pace in recent times. The healthcare industry is embracing digital technologies at a stellar pace, and has made substantial investments in improving the digital framework. It is evident that the shift from a loosely digitized healthcare sector to a framework with cutting-edge medical technologies would require substantial investments. The entities operating in the global medical imaging analysis software market can capitalise on the availability of affluent investors. Furthermore, the use medical imaging has become an indispensable part of several domains within healthcare and medicine.

The development of improved software for analysing medical images has assisted doctors and medical professionals in drawing apt diagnoses. Thenceforth, medical experts are emphasizing on widespread induction of medical imaging analysis software and systems. Advancements in radiology go hand in hand with the domain of medical imaging. The rising incidence of cardiovascular diseases and pulmonary disorders has generated humongous demand within the global medical imaging analysis software market. The medical fraternity is focusing on expediting the process of diagnosis and treatment. In order to accomplish this feat, it important to have a solid infrastructure for medical analysis and imaging.

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Transparency Market Research (TMR) finds that the global medical imaging analysis software market would grow at a sound CAGR of 8.10% over the period between 2018 and 2026. The total value of the global medical imaging analysis software market would touch a value of US$ 5.4 Bn by 2026.

Multiplicity of Applications for Medical Imaging to Propel Market Demand

The need for improved imaging within the field of oncology and neurology has played an integral role in the growth of the global medical imaging analysis software market. Clinical research has emerged as a key area within medicine, and this factor has generated fresh revenues within the global market. Moreover, academic institutes and research projects are focusing on developing distinct technologies for medical imaging. High-incidence of urinary tract infections has necessitated the presence of premium technologies within nephrology. This is also a key standpoint from the perspective of growth within the global medical imaging analysis software market.

Availability of 4D Imaging to Offer Key Opportunities for Vendors

Until a decade ago, there was palpable scope for error within medical imaging, largely due to the absence of 3D and 4D imaging techniques. However, availability of 4D imaging techniques helps in conducting premium diagnosis across various domains within medicine. Furthermore, oncological treatments follow an in-depth route involving high-quality imaging. ContextVision is a leading medical technology software company recently developed an advanced medical imaging technique. The medical practitioners will be able interpret medical imaging with a greater level of deftness, using this software.

Buy Now Medical Image Analysis Software Market Research Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=56946&ltype=S

Some of the key factors responsible for the growth of the global medical imaging analysis software market are Pie Medical Imaging, Media Cybernetics Inc., and Siemens Healthineers.

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The global medical image analysis software market can be segmented by:

Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East

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Transparency Market Research (TMR) witnesses the global medical image analysis software market has a highly competitive and fragmented vendor landscape. However, the market is dominated by the handful of the companies. Some of the companies dominating the global medical image analysis software market are Siemens Healthineers, Agfa-Gevaert N.V., GE Healthcare, Hologic Inc., Pie Medical Imaging, Philips Healthcare, Toshiba Medical Systems Corporation, and Sciencesoft USA Corporation.

According to TMR, the global medical image analysis software market pegged the value of US$2,664.3 mn in the year 2017 and is expected to attain a value of US$4,668.8 mn by the end of the year 2024. The market is anticipated to swell with a CAGR of 8.34% over the forecast period from 2017 and 2024.

Based on software type, the standalone software segment accounted for the share of about 53% among overall demand in the global medical image analysis software market. Based on the imaging type, the 3D imaging segment accounted for revenue of US$1,400.0 mn in the year 2017. Based on the region, North America dominated the global medical image analysis software market followed by Europe. The market in North America generated revenue of about US$893.5 mn and Europe accounted for US$710.9 mn in the year 2017.

Request PDF Sample of Medical Image Analysis Software Market Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=5306

Growing Prevalence of Chronic Diseases to Propel Growth

Growing prevalence of chronic diseases coupled with growing demand for novel diagnostics solutions spurs demand for medical image analysis software. High investment and growth of the industry are increasing usage and uptake of image analysis for diagnosis is propelling adoption of medical image analysis software, which in turn is fuelling the growth of the global medical image analysis software market.

Shifting focus toward the enhanced care is leading to incorporate numerous diagnosis systems. Additionally, the introduction of technologically advanced products including 3D or 4D imaging technologies are augmenting demand for medical image analysis software. The aforementioned factors are likely to propel the growth of the global medical image analysis software market.

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Advantages of the Software to Propel Growth

Furthermore, the factors such as flexibility and high-quality images over the usage of multi-model integrated work procedures are expected to augment penetration over the forecast period. Additionally, hospitals and numerous end users are increasingly demanding the stand-alone platform, which in turn, is propelling the growth of the global medical image analysis software market. The solutions offer attractive features for analyzing data for enhancing the ability for research, diagnose, and observe the diseases. Thus, the healthcare providers are increasingly adopting the medical image analysis software and supporting the growth of the global market.

However, the high cost of equipment coupled with lack of professionals and operators are hampering penetration of the medical image analysis software, which is a key factor restraining the growth of the global medical image analysis software market.

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The global medical imaging analysis software market is expanding at a respectable pace in recent times. The healthcare industry is embracing digital technologies at a stellar pace, and has made substantial investments in improving the digital framework. It is evident that the shift from a loosely digitized healthcare sector to a framework with cutting-edge medical technologies would require substantial investments. The entities operating in the global medical imaging analysis software market can capitalise on the availability of affluent investors. Furthermore, the use medical imaging has become an indispensable part of several domains within healthcare and medicine.

The development of improved software for analysing medical images has assisted doctors and medical professionals in drawing apt diagnoses. Thenceforth, medical experts are emphasizing on widespread induction of medical imaging analysis software and systems. Advancements in radiology go hand in hand with the domain of medical imaging. The rising incidence of cardiovascular diseases and pulmonary disorders has generated humongous demand within the global medical imaging analysis software market. The medical fraternity is focusing on expediting the process of diagnosis and treatment. In order to accomplish this feat, it important to have a solid infrastructure for medical analysis and imaging.

Request PDF Sample of Medical Image Analysis Software Market Report @ https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=56946

Transparency Market Research (TMR) finds that the global medical imaging analysis software market would grow at a sound CAGR of 8.10% over the period between 2018 and 2026. The total value of the global medical imaging analysis software market would touch a value of US$ 5.4 Bn by 2026.

Multiplicity of Applications for Medical Imaging to Propel Market Demand

The need for improved imaging within the field of oncology and neurology has played an integral role in the growth of the global medical imaging analysis software market. Clinical research has emerged as a key area within medicine, and this factor has generated fresh revenues within the global market. Moreover, academic institutes and research projects are focusing on developing distinct technologies for medical imaging. High-incidence of urinary tract infections has necessitated the presence of premium technologies within nephrology. This is also a key standpoint from the perspective of growth within the global medical imaging analysis software market.

Buy Now “Medical Image Analysis Software Market” Research Report @ https://www.transparencymarketresearch.com/checkout.php?rep_id=56946&ltype=S

Availability of 4D Imaging to Offer Key Opportunities for Vendors

Until a decade ago, there was palpable scope for error within medical imaging, largely due to the absence of 3D and 4D imaging techniques. However, availability of 4D imaging techniques helps in conducting premium diagnosis across various domains within medicine. Furthermore, oncological treatments follow an in-depth route involving high-quality imaging. ContextVision is a leading medical technology software company recently developed an advanced medical imaging technique. The medical practitioners will be able interpret medical imaging with a greater level of deftness, using this software.

Some of the key factors responsible for the growth of the global medical imaging analysis software market are Pie Medical Imaging, Media Cybernetics Inc., and Siemens Healthineers.

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Air purifiers help in removing contagion from the air in a room. Increasing demand for energy saving air purifiers by consumers is one of the key factors likely to drive the residential air purifiers market over the forecast period. Global manufacturers are improving energy saving air purifiers which consumes lower power than conventional air purifiers as they help to reduce carbon footprint and save energy costs. The global market for residential air purifiers is undergoing several improvements in technology which is likely to propel the demand for residential air purifiers over the forecast period. There is a growing demand for residential air purifiers equipped with HPEA filtration technology that helps to remove smoke and pollutants from the home.

The common forms of residential air purifiers with HEPA air filtration technology are Sharp Plasmacluster Ion Air Purifier with True HEPA Filtration, Honeywell True HEPA Tower Allergen Remover, Blueair HEPASilent Air Purifier, and Blueair Classic 505 HEPASilent Air Purifier. Global vendors are introducing advanced materials for residential air purifiers in order to increase their efficiency.

The residential air purifier market has been segmented by technology and product category. On the basis of technology, the market has been segregated by HEPA, ionizers and ozone generators, and electrostatic precipitators. HEPA technology dominated the residential air purifiers market in 2015 and it is expected to remain so over the forecast period. The usage of HEPA filters in residential air purifiers helps to trap the air pollutants and helps in allergen relief.

HEPA based air purifiers are designed in such a way that it can target small pollutants and particles. This kind of filter is widely available in departmental stores and specialty stores owing to the portable and small unit. On the basis of product category, the residential air purifiers market has been segregated by fume and smoke collectors and dust collectors.

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Dust collector segment was the most dominant segment on the basis of product category. Owing to the amount of indoor pollution, there has been an increase in the adoption of residential air purifiers in countries such as Brazil, China, and India, which has enhanced the demand for residential air purifiers globally. The increasing occurrence of airborne dust-related ailments, such as cancer, asthma and irritation, and allergic alveoli are also contributing to the sales of dust collector residential air purifiers.

The major players in the residential air purifier market are Daikin Industries, 3M, Phillips, Honeywell, and Sharp. Some of the key vendors in the residential air purifiers markets are Alen, Airgle, Guardian Technologies, Austin Air, Blueair, EcoQuest International, Hamilton Beach Brands, Homeimage, Fellowes, omeimage, Hoover, IQAir, Sunbeam Products, Whirlpool, Winix, Oreck, and Rabbit Air among others.

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The demand within the global market for durable medical equipment (DMI) has been rising on account of the adoption of advanced technologies in the healthcare sector, finds Transparency Market Research (TMR). The market players in the global durable medical equipment (DMI) market have been recalibrating their production capacities to accommodate the needs of all types of patients. The market vendors in the global market for durable medical equipment (DMI) market currently bank on the quality and utility served by their products. The overall dynamics of the global durable medical equipment (DMI) market are such that all the recognised vendors have a fair share of revenues in their kitty. 

The bar of competition in the global durable medical equipment (DMI) market has been on a rise over the past decade. This can be attributed to the quest of the vendors to increase their margin of profit and consolidate their financial position. Furthermore, the leading vendors in the global durable medical equipment (DMI) market are projected to acquire the smaller players with the intent to increase their geographical reach. Mergers and strategic partnerships could also be a recurring trend in the global durable medical equipment (DMI) market in the years to come. 

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A report by Transparency Market Research (TMR) prognosticates that the global durable medical equipment (DMI) market would expand at a healthy CAGR of 8.30% over the period between 2016 and 2025. Furthermore, the global durable medical equipment (DMI) market was valued at US$112.30 million in 2016, and is expected to escalate to a value of US$228.65 million by the end of 2025. On the basis of geography, the market for durable medical equipment (DMI) in North America is expected to expand at a paced rate. Based on equipment type, personal mobility devices are expected to attract commendable demand in the coming years. 

Need to Induct Advanced Infrastructure across Medical Facilities to Propel Demand

The past few decades have been an era of unparalleled growth for the medical fraternity, and this is evident from the huge-scale spending made towards developing better infrastructural facilities in the industry. Hence, the demand within the global market for durable medical equipment (DMI) has been escalating at a boisterous rate in recent times. Furthermore, the rising incidence of paralytic disorders has created an indispensable need for wheelchairs and canes. This factor has also propelled market demand, and has given an impetus to the growth of the vendors operating in the global durable medical equipment (DMI) market. 

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Government Spending to Propel Market Demand 

Public health has emerged as an integral industry for the government, and the latter is making huge investment towards the development of better public health facilities. This factor is projected to bring in voluminous revenues into the global durable medical equipment (DMI) market in the forthcoming years. The healthcare sector of several regions is closely regulated by the government; and hence, the market for durable medical equipment has expanded on account of the proactive nature of government entities. It is, therefore, safe to prognosticate that the market for durable medical equipment lucrative growth opportunities for the vendors. 

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The global genetic testing services market was valued over US$ 33,500.0 Mn in 2016 and is projected to register a compounded annual growth rate (CAGR) of over 7.6% from 2017 to 2025, according to a new report published by Transparency Market Research (TMR) titled “Genetic Testing Services Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017–2025”.

The report suggests that the rising demand for innovative technologies and increasing research & development activities in the field of genetics are likely to drive the genetic testing services market in the next few years (from 2017 to 2025). North America and Europe are projected to dominate the global genetic testing services market in the next few years, owing to rise in the adoption of genetic services and increase in health care spending in these regions.

Asia Pacific is projected to be a rapidly expanding market for genetic testing services from 2017 to 2025. This can be attributed to increase in medical tourism, adoption of genetic testing services, and rise in awareness about benefits of genetic testing in developed countries such as Japan and Australia. Development of innovative tests and value-added services by service providers is expected to fuel the global genetic testing services market during the forecast period. The Asia Pacific genetic testing services market is expected to register the highest CAGR of 7%–8% from 2017 to 2025.

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High Prevalence of Cancer to fuel Global Market

High prevalence of cancer such as breast cancer is one of the driving factors for the global genetic testing services market. Increasing early detection of breast cancer by testing of the BRC gene is driving the global market. Chronic diseases such as diabetes and other cardiovascular diseases require identifying of high-risk patients and implementation of disease management, which is made possible by genetic testing.

This factor is projected to drive the global genetic testing services market during the forecast period. Furthermore, combination of health care IT with genetics and increase in health care spending are some of the factors estimated to propel the global market during the forecast period. Lack of awareness about genetic services in developing countries is one of the factors likely to restrain the global market between 2017 and 2025.

Predictive & Presymptomatic Testing and Hospital-based Segments expected to dominate the Global Market

The report offers detailed segmentation of the global genetic testing services market based on test type, service provider, and application. Among test types, the predictive & presymptomatic testing segment is poised to account for a leading share of the global market from 2017 to 2025. Factors attributable to the major share held by the segment in the global market include early detection of diseases such as cancer, detection of asymptomatic diseases, and identifying the gene-associated risks.

The segment held over 20% share of the global market in 2016, in terms of revenue. Based on service provider, the global genetic testing services market has been segmented into hospital-based laboratories, diagnostic laboratories, specialty clinics, and others. The hospital-based laboratories segment dominated the global market accounting for over 40% of the market share in 2016. The specialty clinics segment is expected to expand at a rapid pace during the forecast period, due to value-added services offered by these clinics.

Oncology Segment dominates the Market, followed by Others Segment

Based on application, the global genetic testing services market has been classified into oncology, infectious diseases, autoimmune diseases, and others. The oncology segment is expected to hold the largest share of the global market from 2017 to 2025, due to high prevalence of cancer and increase in awareness about early detection of cancer. The segment held approximately 40% share of the global market in 2016. The others segment held the second-largest share of the market in 2016, owing to increase in the prevalence of rare diseases and rise in genetic testing in the field of obstetrics.

High Incremental Opportunity in Asia Pacific

In terms of geography, the global genetic testing services market has been divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America held the largest share of the global genetic testing services market in 2016 and is projected to continue to dominate the market from 2017 to 2025. The market in the region is projected to expand at a CAGR of over 7% from 2017 to 2025. Well-established health care infrastructure and strong support from public and private sectors in terms of reimbursements are factors responsible for the largest share held by North America in the global genetic testing services market.

Rise in awareness about the disease prevention has led to improvement in the disease diagnosis, which is anticipated to drive the market in the region during the forecast period. Europe is projected to hold the second-largest share of the global genetic testing services market during the forecast period. The market in the region is estimated to expand at a CAGR of 7%–8% from 2017 to 2025. Rising health care expenditure in the region, increasing prevalence of autoimmune diseases, and entry of new players are some of the factors fueling the genetic testing services market in Europe.

Asia Pacific is a rapidly expanding market for genetic testing services, which is likely to expand at a CAGR of over 8% during the forecast period. Population explosion and high prevalence of infectious diseases in Asia Pacific are some of the major factors boosting the market in the region. Australia, Japan, India, and China are potential markets for genetic testing services in the region. The market in India is expected to expand at a rapid CAGR during the forecast period, due to rise in disposable income and increase in funding for R&D in the country.

The genetic testing services market in Middle East & Africa is expected to expand at a CAGR of 6%–7% during the forecast period. Mandatory health care insurance in Gulf countries and high prevalence of infectious diseases in countries in Africa augment the market in the region. Brazil also offers high growth potential to the genetic testing services market, as several diagnostic manufacturers are focused on establishing facilities in the country.

Key Players

Some of the key players operating in the global genetic testing services market are Laboratory Corporation of America Holdings, Quest Diagnostics Incorporated, Genomic Health, Inc., NeoGenomics Laboratories, Inc., Eurofins Scientific, Ambry Genetics, Hoffmann-La Roche Ltd., Illumina, Inc., CENTOGENE AG, and 23andMe, Inc.

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