Global Medical Image Analysis Software Market Analysis by Top Key Players - AQUILAB, Agfa Healthcare

BRUSSELS - Oct. 17, 2022 - PRLog -- The global medical image analysis software market is valued at ~$3 billion in 2021 and is expected to grow at a CAGR of >10%, driven by technological advancements, rising acceptance of diagnostic imaging systems and increasing volume of images generated, and lack of trained radiologists.

Rising Volume of Medical Images Coupled with Shortage of Radiologists
Medical images make up ~90% of the data in healthcare and >95% of it goes unanalyzed or unused. Every year, the number of images produced globally and this trend is likely to continue, as increasing number of people will gain access to better medical care. Growing volume of images puts pressure on radiologists. This problem further intensifies with the shortage of trained radiologists across the globe. This in turn drives the acceptance of medical image analysis software which helps increase the speed and accuracy of analysis thereby reducing report turnaround time. However, flawed, incomplete or poor-quality images can pose challenge to efficiently make use of this software.

Technological Advancements in Medical Image Analysis Software Market
While medical imaging analysis software can absolutely decrease radiologist workload, it is not yet capable to entirely replace the radiologist. Nuclear medicine, MRIs, CT scans, and other imaging modalities are now included in the medical image analysis software. Additionally, the companies in this field are putting effort to improve analytic abilities of medical imaging software so as to create software capable of independently detecting clinical anomalies in medical images.

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Growth Prospects in Oncology & Mammography Application Areas
There is wide scope of application of medical image analysis software in areas like oncology, cardiology, orthopedics, dentistry, mammography and neurology. Although cardiology acquires substantial share of the medical image analysis software market in terms of application, adoption of this software in mammography and oncology areas is expected to witness substantial growth in the coming years.