Calyx and Qynapse have Teamed up to Promote the Adoption of AI-Based Neuroimaging Methods
In July 2019, to promote the use of AI-based neuroimaging techniques in clinical trials of treatment options for issues affecting the central nervous system (CNS), brain, and spinal cord, Calyx and Qynapse have teamed.
Increased Incidence of Chronic Disease to Accelerate Market Growth
Government initiatives to speed up the longevity revolution have resulted in a rapid ageing of the global population. The majority of developed nations are witnessing an increase in the population of seniors. In 2019, there were 703 million individuals aged 65 or over, and the UN predicts that figure will increase to 1.5 billion by the year 2050. Over the world, the prevalence of chronic diseases is increasing, notably in relation to hypertension, diabetes, and respiratory issues. Over the projection period, medical imaging industry growth will be driven by an ageing population and an increase in the prevalence of chronic diseases.
Issues with Software Compliance and Security Could Restrain Market Growth
The market for medical image software is facing significant challenges related to software security and compliance. Medical image solvtware suppliers may suffer severe financial and brand harm as a result of security breaches. Vendors must guarantee that their software complies with all relevant laws and regulations in order to protect the security of patient data and to comply with industry requirements. To avoid unwanted access to patient information, they must also concentrate on implementing data security techniques like encryption and access control. Vendors must also guarantee that the rules of the Health Insurance Portability and Accountability Act (HIPAA) and other pertinent laws are followed in the design of their software. This is required to guarantee the confidentiality and security of the patient data. To guarantee that the software satisfies the criteria for data accuracy and integrity, compliance with industry standards specific to the healthcare sector is also required.
Major Players Develop Acquisition Plans to Boost Brand Image
The leading businesses in the medical imaging software market plan acquisitions to improve their brand recognition globally. For instance, in 2021, to increase the productivity and sustainability of radiology operations, Philips has introduced an AI-enabled MR imaging portfolio. Such technology developments are thought to accelerate market growth tremendously.
- In 2019, for use with its Aquilion Precision scanner, Canon's Advanced Intelligent Clear-IQ Engine (AiCE), an artificial intelligence (AI) technology, has received FDA approval from the U.S. Patent and Trademark Office. Precision diagnostics are made possible by the technology without increasing dose.
- Koninklijke Philips N.V.
- GE Healthcare, Inc.
- Siemens Healthineers
- Agfa-Gevaert Group
- Toshiba Medical Systems Corp. (Canon Medical Systems Corp.)
- Spacelabs Healthcare
- MIM Software, Inc.
- Aquilab SAS
- ESAOTE SpA
- Merge Healthcare, Inc. (IBM)
- ClaroNav, Inc.
- Xinapse, Inc.
- The market in North America is expected to gain a huge portion of the global Medical imaging software market share in the coming years is fueled by the nationwide increase in the number of patients undergoing diagnostic imaging procedures.
- It is anticipated to develop at a high CAGR due to existing healthcare facilities and the ageing population's increasing need for modern healthcare systems.
- In the Asia Pacific, the growth in this region is primarily driven by increasing government initiatives to improve the healthcare system.
|Market Size in 2022
|USD 3.2 Billion
|Market Forecast in 2030
|USD 5.4 Billion
|Compound Annual Growth Rate
|Revenue (USD Million) and Volume (Kilo Tons)
|By Type, By Image Type, By Modality, By Application, By End User and By Geography
|By Image Type
|By End User