Global Medical Imaging Software Market 2017-2021
About Medical Imaging Software
Medical imaging is the process of creating visual representations of the interior of the human body for medical applications and clinical analysis. The medical imaging software enables the use of medical imaging devices for viewing and analyzing medical images. The increased adoption of medical imaging software in the diagnosis of chronic diseases is expected to drive the market growth of the global medical imaging software market during the forecast period.
Technavio’s analysts forecast the global medical imaging software market to grow at a CAGR of 6.98% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global medical imaging software market for 2017-2021. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Medical Imaging Software Market 2017-2021
Technavio recognizes the following companies as the key players in the global medical imaging software market: Agfa-Gevaert, Carestream Health, Esaote, GE Healthcare, Siemens Healthineers, and Toshiba Medical Systems.
Other Prominent Vendors in the market are: 20/20 imaging, Anatomage, IBA Dosimetry, iCRco, IMAGE Information Systems, INDEC BioSystems, Materialise, Meddiff Technologies, Mediso, MeVis, NEC, Neusoft Medical Systems, NOVARAD, PerkinElmer, Philips, SCANCO Medical, SOREDEX, Spintech Oceania, Sun Nuclear, Terarecon, Varian Medical Systems, and Xoran Technologies LLC.
Commenting on the report, an analyst from Technavio’s team said: “One trend in market is growth of mobile and cloud-based medical imaging software and devices. The demand for the portable, mobile, and the hand-held point-of-care ultrasound equipment and the software used in it has increased. This has led the vendors to come up with home-based ultrasound equipment. These devices provide home-based diagnosis and treatment. For instance, for physiotherapy purposes many local vendors offer portable ultrasound equipment for muscle pain relief, bone injuries, and arthritis treatment. UltraCare PRO’s US 111, is a device available in the Indian market. SONON 300C by Healcerion is another ultrasound device gaining popularity for monitoring sleep apnea. The patients who suffer from recurrent urinary tract infections also prefer portable ultrasound bladder scan at home. One such popular product serving this purpose is CareScan-1 ultrasound bladder scanner by Wellecho.”
According to the report, one driver in market is upgradation of analog to digital medical imaging systems. The upgradation from analog to digital medical imaging systems has increased the demand for medical imaging software. Healthcare centers, such as hospitals and diagnostic centers, are upgrading analog X-ray systems to digital X-ray systems. The cost of digital X-ray systems is higher than the analog X-ray systems. This has compelled manufacturers to find a cost-effective solution for converting analog X-ray systems to digital X-ray systems. This can be done by using retrofit kits. Retrofit kits are used to convert analog X-ray systems into computed radiography systems by implementing detection devices such as high-density solid scan systems or flat panel detectors. The cost of a retrofit kit is approximately $105,000. New digital radiography system costs nearly $180,000. For instance, Carestream Health launched mobile retrofit kits such as DRX transportable, DRX field portable and DRX mobile retrofit kit. The introduction of these technologies has enabled hospitals and other diagnostic centers to refurbish their analog systems at an affordable price.
Further, the report states that one challenge in market is high cost and maintenance of ultrasound. The initial set-up cost of ultrasound equipment is usually high making it difficult for the end-users to upgrade to the latest advanced equipment. The Modern Healthcare/ECRI Institute Technology Price Index states that the average selling price of ultrasound equipment had increased in the last few years. This was due to the launch of the expensive Philips Healthcare's EPIQ ultrasound system. Customers spend at least $25,000 for an average ultrasound equipment excluding the installation charges. Imposition of the medical devices excise is another challenge that the market faces. This directly impacts the cost of the products.
Agfa-Gevaert, Carestream Health, Esaote, GE Healthcare, Siemens Healthineers, Toshiba Medical Systems, 20/20 imaging, Anatomage, IBA Dosimetry, iCRco, IMAGE Information Systems, INDEC BioSystems, Materialise, Meddiff Technologies, Mediso, MeVis, NEC, Neusoft Medical Systems, NOVARAD, PerkinElmer, Philips, SCANCO Medical, SOREDEX, Spintech Oceania, Sun Nuclear, Terarecon, Varian Medical Systems, and Xoran Technologies LLC.
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