Medical Image Analytics Market Size Worth USD 7.16 Billion in 2032 | Emergen Research

Vancouver, Dec. 11, 2023 (GLOBE NEWSWIRE) -- The global Medical Image Analytics Market is expected to reach USD 7.16 Billion by 2032, according to a new report by Emergen Research. A growing incidence of chronic illnesses such as arthritis and cardiac disease would accelerate the development of medical imaging devices in the coming years.

Recent advances in medical imaging devices have paved the way for innovative solutions which have rendered diagnosis more comfortable for patients. A significant increase in the number of such events is likely to boost demand development for medical imaging equipment in the future.

The growing geriatric population, coupled with the chronic diseases they experience, is projected to fuel growth in the demand for medical imaging equipment. However, exorbitant premiums are associated with medical imaging tests combined with restricted access to the necessary infrastructure that impedes the growth of the medical imaging devices markets.

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Scope of Research

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MAJOR COMPANIES and Market Share Analysis

The market for Medical Image Analytics is fairly fragmented, with a large number of small as well as medium-sized manufacturers, which account for a major global share of the market. The manufacturers involved in the Medical Image Analytics market are desegregated across the value chain. The key companies of the market are well-equipped with large manufacturing facilities and are also engaged in various research & development activities. Some of the prominent players in the Medical Image Analytics market include:

• Agfa-Gevaert Corporation
• Toshiba Medical Systems Corporation
• Spacelabs Healthcare, Inc.
• Xinapse Systems Ltd.
• Carestream Health Inc.
• Merge Healthcare, Inc.
• Siemens Healthineers
• Philips Healthcare
• MIM Software Inc.
• Bruker Corporation

Strategic Development

In November 2018, Siemens Healthcare GmbH, at the Radiology Society of North America (RSNA) conference, confirmed the introduction of Magnetom Altea 1.5 T and Magnetom Lumina 3 T MRI scanners.

In December 2019, Fujifilm confirmed it was purchasing Hitachi's medical imaging company for about USD 1.56 billion. The agreement will boost Fujifilm's potential to contend internationally with GE Healthcare, Philips, Siemens, and Canon medical imaging giants.

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Key Highlights From The Report

• Ultrasound imaging, in the Modality segment, is anticipated to grow with a CAGR of 8.1% during the forecast period, owing to benefits such as fast detection and precision, non-invasiveness, and no direct susceptibility to ionizing radiation.
• By End Use, the diagnostic centers segment expected to grow with a CAGR of 8.2% in the forecasted period, attributable to the installed base of diagnostic imaging services and management of the inflow of visitors, coupled with the beneficial payment policies by policymakers across the globe.
• The cardiology application is the major contributor to the Medical Image Analytics Market. The cardiology application of the North America region is the major shareholder of the market and held around 24.5% of the market in the year 2019, owing to the rising incidence of cardiovascular and congenital cardiac disease and growing policy funding to increase healthcare quality.
• North America dominated the market for Medical Image Analytics in 2019, attributable to the existence of well-established healthcare facilities with specialized testing equipment in this area and favorable policies to promote the adoption of healthcare IT. North America region held approximately 38.0% of the market, followed by Europe.

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Emergen Research has segmented the global Medical Image Analytics Market on the basis of modality, end-use, application, and region:

• Modality Outlook (Revenue, USD Billion; 2019-2032)
  • Tomography
  • Ultrasound Imaging
  • Radiographic Imaging
  • Combined Modalities
• End-Use Outlook (Revenue, USD Billion; 2019-2032)
  • Hospitals
  • Diagnostic Centers
  • Ambulatory Surgical Centers
  • Others
• Application Outlook (Revenue, USD Billion; 2019-2032)
  • Orthopedic
  • Neurology
  • Cardiology
  • Oncology
  • Mammography
  • Others
• Regional Outlook (Revenue, USD Billion; 2019-2032)
  • North America
    1. U.S.
    2. Canada
  • Europe
    1. Germany
    2. UK
    3. France
    4. BENELUX
    5. Rest of Europe
  • Asia Pacific
    1. China
    2. Japan
    3. South Korea
    4. Rest of APAC
  • Latin America
    1. Brazil
    2. Rest of LATAM
  • MEA
    1. Saudi Arabia
    2. UAE
    3. Rest of MEA

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