Global Medical Image Analytics Market

MRIs and Ultrasounds Gaining Pace in the Medical Image Analytics Market

IT technology has advanced rapidly in the last few decades and healthcare industry has benefitted from it in many ways. The enhanced computing power, faster networks, and cheaper storage systems have revolutionized the medical imaging system in the last few years. The advancements in medical imaging technology provide ease of use and flexibility to the doctors to analyze and interpret the images easily. The medical imaging technology has focussed on developing the computerized medical imaging analysis in the last few years. According to the latest report titled ‘Global Medical Image Analytics Market – Analysis and Forecast (2017-2025)‘, in all the processes of clinical diagnosis and intervention, medical image analysis plays a vital role in various applications within these processes.

The era of modern medical imaging systems is nigh as recent developments in machine learning, especially deep learning, are facilitating doctors to identify, classify, and quantify patterns in medical images. The medical image analysis software application analyses the acquired image to extract medically or clinically relevant information which helps in diagnosis and further treatment. The purpose of imaging varies from general to specific applications such as segmentation, contouring, and thresholding, which are used to focus on the region of interest in a sample. This medical imaging system is great for both clinical applications as well as scientific research applications.

According to the analysis by BIS Healthcare the more recent developments in deep learning have opened up new horizons of medical image analysis by facilitating discovery of morphological and textural patterns in images based solely on data. The advancements in machine learning have resulted in the state-of-the-art performance in various medical applications, and thus, its utilization for furthering the development of the medical image analysis can be a major step in this field. However, the need to establish quality standards, reducing the number of errors and interpretability are some of the challenges that can be faced in the universal implementation of image analysis solution.

The global medical image analytics market comprises of primarily two types of product, standalone software, and integrated software. The year 2016 saw the standalone software segment acquiring the major share of the market, and this segment is expected to grow at a CAGR of 5.2% during the forecast period 2017-2025. The standalone software provides high flexibility with user-friendly interface to visualize, observe, evaluate, and process medical image data from different modalities which helps in the growth of this segment. However, it is the integrated software segment which is expected to grow at the highest CAGR from 2017 to 2025.

Among different types of imaging modalities available in the market, viz. mammography, computed tomography (CT), magnetic resonance imaging (MRI), combined modality, ultrasound and radiographic X-ray, and others, the ultrasound segment constituted the highest market value in 2016 and is expected to grow at a CAGR of 5.6% during the forecast period 2017-2025. Despite the advantages offered by the ultrasound technology which is helping in the growth of this segment, it is magnetic resonance imaging (MRI) segment which is growing at the highest CAGR of 7.9% during the forecast period.

BIS Research has conducted an extensive research on the global medical image analytics market, and compiled the observations and insights in this report. The market intelligence report aims at providing an in-depth analysis of the key development strategies, marketing strategies and market trend dynamics which include drivers, restraints, and opportunities prevailing in the industry.

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