North America Medical Imaging Software Market - Growth, Trends, Forecasts (2022 - 2027)

North America Medical Imaging Software Market - Growth, Trends, Forecasts (2022 - 2027)

North America Medical Imaging Software is expected to grow at a CAGR of 7.56% during the forecast period 2020-2025. The healthcare industry is demanding integration of digital technologies, wherein the companies have immense opportunity to penetrate the market. Companies are increasingly digitalizing their infrastructure to reduce their operational costs and increase their efficiency.

Key Highlights

• The Radiological Society of North America (RSNA) annual meeting has transitioned in recent years from an imaging device focus to an imaging information technology focus. The interest in software continued at this year's meeting, partly fueled by the need for healthcare organizations to meet Stage 1 and 2 meaningful use requirements.
• The newer remote viewing systems allow access via e-mail or the Internet to images and reports through modules for a PACS, third-party standalone systems or linked to the facility’s archive/storage system. Most are cloud/Web-based systems so they can easily be accessed outside of a hospital’s computer system. All offer data encryption and password protection to meet HIPAA requirements.
• With imaging reimbursements decreasing and imaging departments being asked to do more with less with the current state of the economy and direction of healthcare reform, vendors have responded with increased automation and more ergonomic designs. Imaging and software systems are becoming much more intuitive to help speed exam times and workflow.
• Carestream Health Inc, a prominent medical imaging company based in the US, started rolling out Image Suite V4 that is well-suited even for applications in smaller facilities. The suite features several advanced image manipulating tools and streamlines workflows. The suit’s mini-PACS module enables image management and analysis, while the VNA module allows it to collaborate with third party systems.
• As hospitals see an influx of COVID-19 patients, many are looking for ways to rapidly expand their radiology imaging capabilities. Large computed tomography (CT) system vendors offer semi-truck trailer configurations, and some began offering CT systems packaged neatly inside cargo shipping containers so they can be installed as semi-permanent buildings.

Key Market Trends3D Imaging to Show Significant Growth

• As per CDC, Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. One person dies every 36 seconds in the United States from cardiovascular disease. About 655,000 Americans die from heart disease each year. 3D Imaging can be helpful in checking the early earning signs related to heart conditions.
• The market for 3D Imaging in healthcare is growing due to launches by vaious players. For instance, in January 2019, United Imaging Healthcare announced US Food & Drug Administration (FDA) clearance of the uEXPLORER total-body scanner. uEXPLORER is the world’s first medical imaging scanner that can capture a 3D picture of the whole human body at one bed position. uEXPLORER was developed by United Imaging in partnership with the EXPLORER Consortium.
• In June 2019, Medis Medical Imaging Systems B.V. received clearance from the U.S. Food and Drug Administration for its QAangio XA 3D technology (QFR). The technology offers a non-invasive imaging technique for the assessment of the functional significance of coronary lesions without the need for a pressure wire, nor adenosine.
• At the 2019 meeting of the Radiological Society of North America (RSNA) in Chicago, three medical professionals with their finger on the pulse of radiology presented on different areas of innovation, from hybrid imaging procedures to artificial intelligence (AI)

Cardiology Applications to Hold the Highest Market Share

• The US Food and Drug Administration (FDA) has authorised marketing of software to assist in the acquisition of cardiac ultrasound, or echocardiography, images. The software, called Caption Guidance (Caption Health), is an accessory to compatible diagnostic ultrasound systems and uses artificial intelligence (AI) to help the user capture images of a patient’s heart that are of acceptable diagnostic quality.
• Researchers from Dalio Institute of Cardiovascular Imaging, New York, United Staes, are working on a design with automated deep learning method for the segmentation of multiple structures from Coronary Computed Tomography Angiography (CCTA) images.
• Recently, Ambra Health, makers of the leading cloud-based, medical image management suite, announced further integration with Epic to enable medical imaging in desktop, mobile and web applications.
• International medical imaging IT and cybersecurity company Sectra has signed a contract with Hillcrest Medical Center in Tulsa to add cardiology to their existing enterprise imaging solution. This new configuration will provide physicians a complete patient overview and standardize all imaging on one platform.

Competitive Landscape

North America Medical Imaging Software Market is highly fragmented and many new innovations are being introduced in the market in recent times. Some of the Major Players operating in this industry are Toshiba, Riverain Technologies, Siemens, Medviso and MIM Software. Some of the Recent Developments are

• May 2020: International medical imaging IT and cybersecurity company Sectra planned to install the radiology and breast imaging modules of its enterprise imaging solution at Mayfair Diagnostics’ facilities in Canada. The solution will support workflow optimization and increased reading efficiency across multiple geographic locations, thereby improving diagnostics and patient care.
• April 2020: Intelerad Medical System, a leading global provider of medical imaging software and enterprise workflow solutions, announced that the FDA has cleared its InteleConnect EV solution for diagnostic image review on a range of mobile devices. Approval of Intelerad’s 510(k) submission comes at a critical time for healthcare systems and ensures that radiologists are able to collaborate and leverage resources in more creative ways, even when workstation access is not available.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

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