CHICAGO, May 3, 2021 /PRNewswire/ — In-depth analysis and data-driven insights on the impact of COVID-19 included in this global medical imaging software market report.
The medical imaging software market is expected to grow at a CAGR of over 7% during the period 2020−2026.
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Medical Imaging Software Market – Segmentation
Medical Imaging Software Market by Type
Medical Imaging Software Market by Modality
Medical Imaging Software Market by Application
Medical Imaging Software Market by Imaging Type
Medical Imaging Software Market by End-user
Medical Imaging Software Market – Dynamics
Artificial Intelligence (AI) has captivated the healthcare industry with its innovative analytics strategies becoming more accurate and applicable to a variety of tasks. Researchers have applied AI to automatically recognize complex patterns in imaging data and provide quantitative assessments of radiographic characteristics. In radiation oncology, AI has been applied to different image modalities that are used for tumor delineation and treatment assessment. AI is essential in boosting the processing power of a massive number of medical images to uncover the disease characteristics. AI technology differs from traditional technologies in healthcare due to its ability to gather data, process it, and provide a well-defined output to the end-user through machine learning algorithms and deep learning. AI algorithms can also be used to analyze large amounts of data through electronic health records for disease prevention and diagnosis. Large technology companies such as IBM and Google have also developed AI algorithms for healthcare.
Key Drivers and Trends fueling Market Growth:
Medical Imaging Software Market – Geography
North America accounted for the highest market share of over 42% in the global medical imaging software market in 2020. The region has dominated the market due to the increasing population and prevalence of chronic conditions leading to the high demand for medical imaging and diagnostics in healthcare settings for rapid diagnosis and enhanced medical care. In addition to this, the growing healthcare expenditure, need for advanced imaging techniques, various advantages associated with imaging software, presence of well-established players, and a major shift towards digital imaging are also leading the market growth in this region. Medical imaging and diagnosis play an important role in healthcare, contributing to accurate diagnosis and appropriate treatment for a condition. The increased usage of imaging equipment in diagnostic centers due to the growing hospitalization rates has been observed over the years.
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Medical Imaging Software Market by Geography
Major Vendors
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SOURCE Arizton Advisory & Intelligence
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