Global medical image analysis software market is anticipated to reach a value of approximately US$ 5.4 Bn by 2026, expanding at a CAGR of more than 8.1% from 2018 to 2026. The market is driven by an increase in the incidence of chronic diseases, rise in geriatric population, increase in the adoption of 4D imaging techniques, and rise in demand for medical imaging.
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.
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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.
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.
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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.
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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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