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Covid-19 Impact on Medical Image Analysis Software Market Pegged for Robust Expansion by 2026

on September 02 at 07:25 AM

Sep 02, 2021/IndustryNewsGlobal/ The unexpected shifts in the global markets because of the sudden outbreak of the COVID-19 virus have brought many major and minor tremors to industries of all sizes including the Medical Image Analysis Software Market.

It was estimated prior to this unanticipated outbreak that the Medical Image Analysis Software Market was expected to grow at a CAGR of 8.3% during the forecast period. However, the gradual slowing down of industries will undoubtedly impose limits on the previously estimated growth rate.

Technological developments in medical imaging systems, as well as analysis software, are prime factors bolstering the market growth. Also, surging private- and public-sector investments in the medical imaging market further augment the product demand and offer ample growth opportunities to the industry players. Moreover, the rising usage of imaging equipment owing to the rising prevalence of chronic diseases propels the market growth. However, budgetary constraints are likely to hamper market growth.

Based on end-use, the global medical image analysis software market has been segmented into hospitals, ambulatory surgical centres, and specialty clinics. Among these, the hospitals segment garnered the highest market share of 36% in 2020 and is projected to grow at a healthy CAGR during the forecast timeline. This is mainly ascribed to supportive infrastructure that is crucial in performing surgical interventions using medical imaging software.

By region, the North America market accounted for the largest market share in 2020 and is estimated to grow at a steady CAGR during the assessment period. This can be attributed to advanced healthcare infrastructure and rising healthcare expenditure in the region are driving the market in North America. Moreover, presence of well-established healthcare facilities with modern diagnostic equipment coupled with favorable government initiatives to encourage adoption of healthcare IT, further propels the regional growth.

Key Players:

Key players operating in the global Medical Image Analysis Software market are-

  • Koninklijke Philips N.V. (Netherlands),
  • GE Healthcare, Inc. (The U.S),
  • Siemens Healthineers (Germany),
  • Agfa-Gevaert Group (Belgium),
  • Toshiba Medical Systems Corporation (Japan),
  • Spacelabs Healthcare (The U.S),
  • MIM Software, Inc. (The U.S),
  • Aquilab SAS (France),
  • ESAOTE SPA (Italy), and
  • Merge Healthcare, Inc. (The U.S).

Features of the Report

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools.

The Medical Image Analysis Software analysis report discusses the following heads in great detail:

  • Market structure: Overview, industry life cycle analysis, supply chain analysis
  • COVID-19 Impact Assessment
  • Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
  • Market trend and forecast analysis
  • Market segment trend and forecast
  • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
  • Attractive market segments and associated growth opportunities
  • Emerging trends
  • Strategic growth opportunities for the existing and new players
  • Key success factors 

Know more about Stratview Research:

Stratview Research is a global market research company and is known to offer custom research reports in varied fields such as aerospace & Defense, Advanced Materials, Aerospace & Defense, Automotive & Mass Transportation, Consumer Goods, Construction & Equipment, Electronics and Semiconductors, Energy & Utility, Healthcare & Life Sciences, and Oil & Gas. Our team makes sure to have deep research about the topics so that the most useful insights can be delivered to the professionals.

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