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(Medical-NewsWire.com, June 26, 2017 ) The Europe Medical Image Analysis Software Market was worth USD 0.64 billion in 2016 and estimated to be growing at a CAGR of 7.68%, to reach USD 0.92 billion by 2021. Medical image analysis refers to the process of examining health related predicaments with the aid of digital image processing technique and several imaging modalities.
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Medical image analysis software is a vital part of the diagnostic technology and is utilized to enhance and detect features of an image. It is used to boost the productivity and effectiveness of medical procedures. In addition, healthcare specialists and researchers at distant sites can effortlessly share the medical image data with the help of medical image analysis software, thereby improving their ability to detect, monitor and treat lethal diseases.
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The growth of the Europe Medical Image Analysis Software Market is mainly driven by factors such as rising public and private sector investments, rapid growth in aging populace, favourable government schemes, fusion of imaging technologies, and rise in applications of computer-aided design (CAD). Furthermore, the amplified use of electronic health records to efficiently store, handle, and supply patient health data in the form of medical images is also driving the market growth. However, factors such as shortage of skilled professionals, hacking related concerns, and high financial costs are inhibiting the growth of the market in this region.
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The Europe Medical Image Analysis Software market is segmented based on Image Type, Imaging Technology, Application, and End User. The market for Medical Image Analysis Software, on the basis of Image Type is segmented into 2D Imaging, 3D Imaging, and 4D Imaging. The 3D Imaging segment leads the market on the basis of Image Type and is also projected to witness a higher growth rate during the forecast period. On the basis of Imaging Technology, the Medical Image Analysis Software market is segmented into X-Ray, Computed Tomography, Positron Emission Tomography, Single Photon Emission Computed Tomography, Magnetic Resonance Imaging, Ultrasound, and Radiographic Imaging. Computed Tomography is further segmented into high-End Slice CT, mid-End Slice CT, and low-End Slice CT, whereas Magnetic Resonance Imaging is further classified into open MRI Systems and closed MRI Systems. Under this segment, Computed Tomography leads the market followed by X-Ray and Magnetic Resonance Imaging (MRI). On the basis of Application, the Medical Image Analysis Software market is segmented into Cardiovascular, Neurology, Dental, Urology, Orthopaedic, Oncology, Obstetrics and Gynaecology, and Mammography. The Cardiovascular segment leads the market on the basis of application, followed by orthopaedic and neurology. On the basis of End User, the Medical Image Analysis Software market is segmented into Hospitals, Research Centres, and Diagnostic Centres.
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The Europe market has been geographically segmented into Germany, U.K, France, Spain, and Italy. In Europe, Germany leads the Medical Image Analysis Software market, followed by France and U.K. The market in this region is projected to grow strongly during the forecast period due to various factors such as growing awareness about medical imaging tools, financial strength to procure expensive tools, and favourable reimbursement policies.
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This market is extremely disjointed with numerous big and developing players operating in the business. The major companies dominating the Medical Image Analysis Software market in this region are Agfa HealthCare, Medviso AB, Aquilab, Bruker Corporation, Carestream Health Inc., Esaote S.p.A, GE Healthcare, Spacelabs Healthcare, Merge Healthcare Inc., Xinapse Systems Ltd., MIM Software Inc., Philips Healthcare, Claron Technologies, Siemens Healthcare, and Toshiba Medical Systems Corporation.
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