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North America Medical Image Analysis Software Market Size, Share, and Outlook (2024-2031)

Published: October 2023 || SKU: HCIT7018
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North America Medical Image Analysis Software Market is segmented By Technology (MRI, Ultrasound Imaging, CT, SPECT, PET, Others), By Image Type (2D, 3D, 4D), By Modality (CT, MRI, PET, Ultrasound), By Application (Orthopedic, Cardiology, Oncology, Mammography, Others), By End User (Hospital, Diagnostic Centre, Research Centres, Others), and By Country (USA, Canada, and Rest of North America) – Share, Size, Outlook, and Opportunity Analysis, 2023-2030

North America Medical Image Analysis Software Market Overview

The North America Medical Image Analysis Software Market is expected to grow at a CAGR of 7.56% during the forecast period 2023-2030.

Medical image analysis software is used to identify abnormalities, diagnose diseases, and plan treatment based on medical images. Radiology, cancer, cardiology, and dermatology are among the medical specialities that utilize the program.

The rising prevalence of chronic diseases such as cancer, heart disease, and diabetes drives demand for medical image analysis software. These disorders are often difficult to identify and cure, and medical image analysis tools may assist in enhancing diagnostic accuracy and treatment efficacy.

Medical imaging technological breakthroughs, such as the development of high-resolution imaging equipment and the application of artificial intelligence (AI), are also driving the medical image analysis software industry forward. Medical image analysis tools powered by AI may provide more accurate and thorough findings than previous approaches.

North America Medical Image Analysis Software Market Scope and Summary

Metrics

Details

CAGR

7.56%

Size Available for Years

2021-2030

Forecast Period

2023-2030

Data Availability

Value (US$)

Segments Covered

Technology, Image Type, Modality, Application, and End User

Countries Covered

USA, Canada, and Rest of North America

Largest Country

USA

Report Insights Covered

Competitive Landscape Analysis, Company Profile Analysis, Market Size, Share, Growth, Demand, Recent Developments, Mergers and Acquisitions, New Product Launches, Growth Strategies, Revenue Analysis, Porter’s Analysis, Pricing Analysis, Regulatory Analysis, Supply-Chain Analysis and Other key Insights.

 

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North America Medical Image Analysis Software Market Key Drivers

Rising Prevalence of Chronic Diseases Drives Market Growth

One of the primary drivers driving demand for Medical Image Analysis software and market development in North America is the rising prevalence of chronic illnesses such as cancer, cardiovascular disease, and diabetes. The increased death rate among cancer patients emphasizes the critical need for trustworthy medical image analysis systems. Oncologists depend on these devices to collect complete images of malignant situations, allowing them to make educated clinical judgments about following treatment options.

A study conducted in 2022 revealed that approximately 1.9 million new cancer cases were detected in the United States. Medical imaging analysis software, a critical piece of healthcare technology, allows for comprehensive data analysis from medical images. This study includes a variety of methodologies, such as picture comparisons across patients or the same patient over time. Radiologists often do these studies to determine patient conditions. The growing use of scanning and imaging equipment for illness diagnosis is a major motivator for requiring image analysis software.

Increasing Geriatric Population

The growing geriatric population, as well as the appearance of new disease profiles within the North American population, are driving the growth rate of the North American medical image analysis software market. The aged population is more vulnerable to surgical treatments and therapies. Imaging outputs from various modalities are critical for making informed healthcare choices. To improve patient outcomes, Healthcare practitioners use image analysis software to evaluate scanned pictures, allowing for more exact treatment decisions. In the wake of a spike in novel disease paradigms and chronic illnesses, image analysis software plays an essential part in providing basic therapy to afflicted persons and supporting extensive research methods.

North America Medical Image Analysis Software Market Segmentation Analysis

The North America medical image analysis software market is segmented by technology, image type, modality, application, and end user.

The Cardiology Segment is Expected to Grow at the fastest CAGR During the Forecast Period

The cardiology segment accounted for the highest share and is expected to expand throughout the forecast period due to an increase in the number of cardiac imaging tests as the incidence of cardiac illnesses rises and improves and novel cardiac imaging technologies become more widely available.

According to the World Stroke Organization, more than 13 million individuals are at risk of a heart stroke each year, with 5.5 million dying as a result. The growing emphasis on cardiac imaging tests in research assures the cardiology segment's supremacy. For example, University Hospitals and Case Western Reserve University have been developing a method to diagnose heart problems using a chest x-ray. Instead of a single beam of energy, as in a standard chest X-ray, their approach makes use of dual-energy technology.

Furthermore, promising practices for higher-quality atherosclerosis imaging are being developed, such as high spatial resolution, high signal-to-noise imaging, and quantitative T1/T2 mapping for improved plaque depiction, which will one day allow physicians to peer into vessels to detect early warning signs of heart disease.

Regional Insights

By region, North America medical image analysis software market is segmented into USA, Canada, and Rest of North America.

The United States is Expected to Hold the Largest Market Share During the Forecast Period

The United States is likely to have the largest share of the North American market in the future years. A robust startup environment, a profusion of mergers and acquisitions, increasing diagnostic centres, pioneering imaging methods, and easily available licensed software fuel market growth in the United States.

Canada is another significant regional market in North America for medical image analysis software, and it is expected to occupy a significant part of the North American market over the projection period. The emergence of clinical trial centres, a developing community of research-based pathologists, an increasing number of awareness campaigns, and software awareness training centres all contribute to the Canadian market's growth.

North America Medical Image Analysis Software Market Companies and Competitive Landscape

Key players operating in the North America medical image analysis software market are Agfa HealthCare, Medviso AB, Aquilab, Bruker Corporation, Carestream Health Inc., Esaote S.p.A, GE Healthcare, Spacelabs Healthcare, Merge Healthcare Inc., Xinapse Systems Ltd., MIM Software Inc., Philips Healthcare, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.

FAQ’s

  • North America Medical Image Analysis Software Market is expected to grow at a high CAGR of 7.56% during the forecasting period (2023-2030).

  • Key players operating in the North America medical image analysis software market are Agfa HealthCare, Medviso AB, Aquilab, Bruker Corporation, Carestream Health Inc., Esaote S.p.A, GE Healthcare, Spacelabs Healthcare, Merge Healthcare Inc., Xinapse Systems Ltd., MIM Software Inc., Philips Healthcare, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.
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