Global Medical Imaging And Radiology Software Market Size Forecast 2024 - 2033
19 Dec, 2024
What Is The Scope Of The Global Medical Imaging And Radiology Software Market?
Medical imaging and radiology software refers to specialized computer programs designed for the visualization, analysis, and manipulation of medical images. The software allows healthcare professionals, particularly radiologists and technicians, to view radiological images, for active research , annotate findings, and create detailed reports for diagnosis and treatment planning.
Medical Imaging And Radiology Software Global Market Report 2024 provides data on the global medical imaging and radiology software market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The Medical Imaging And Radiology Software market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.
What Are The Expected Annual Growth Rates And Market Size Estimates For The Global Medical Imaging And Radiology Software Sector?
The medical imaging and radiology software market size has grown strongly in recent years. It will grow from $6.78 billion in 2023 to $7.35 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The growth in the historic period can be attributed to regulatory compliance, increased healthcare expenditure, aged population, demand for precision medicine, and increased adoption of digital imaging technology. The medical imaging and radiology software market size is expected to see strong growth in the next few years. It will grow to $10.23 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to artificial intelligence integration, telemedicine and remote imaging, emerging imaging modalities, population health management, and integration with electronic health records (EHR). Major trends in the forecast period include AI and machine learning adoption, cloud-based radiology software utilization, advanced imaging modalities development, population health analytics emphasis, and radiology software integration with EHR.
Which Factors Are Boosting Growth In The Medical Imaging And Radiology Software Market?
The growing prevalence of chronic diseases is expected to drive the growth of the medical imaging and radiology software market going forward. Chronic diseases require ongoing medical management and monitoring, making early detection and accurate diagnosis critical. Medical imaging and radiology software play essential roles in disease detection, monitoring, and treatment planning, supporting timely interventions and improving patient outcomes. As reported by the World Health Organization (WHO) in September 2023, chronic diseases account for 74% of all global deaths annually, highlighting the critical need for advanced diagnostic tools. Therefore, the growing prevalence of chronic diseases drives the growth of the medical imaging and radiology software market.
Get Your Free Sample of the Global Medical Imaging And Radiology Software Market ReportWhat Key Areas Define The Segmentation Of The Global Medical Imaging And Radiology Software Market?
The medical imaging and radiology software market covered in this report is segmented –
1) By Type: Picture Archiving And Communication System (PACS), Radiology Information System (RIS), Other Types
2) By Imaging Modality: X-ray Imaging Software, Computed Tomography (CT) Imaging Software, Magnetic Resonance Imaging (MRI) Software, Ultrasound Imaging Software, Nuclear Medicine Imaging Software
3) By Application: Hospitals, Diagnostic Centers, Other Applications
How Are Emerging Trends Reshaping The Dynamics Of The Medical Imaging And Radiology Software Market?
Companies in the medical imaging and radiology software market are innovating with technologies like deep learning reconstruction to enhance image quality and diagnostic accuracy. Deep learning reconstruction (DLR) technology uses AI to improve image clarity and speed up scan times. For example, in August 2023, FUJIFILM Healthcare Americas Corporation, a US-based healthcare company, launched the ECHELON Synergy MRI system. This 1.5 Tesla MRI system integrates Synergy DLR technology to enhance image sharpness, accelerate scans, and improve patient experiences, featuring a spacious bore, reduced noise, and added protection against bacteria.
Which Region Has The Fastest Expansion In The Medical Imaging And Radiology Software Market?
North America was the largest region in the medical imaging and radiology software market in 2023. The regions covered in the medical imaging and radiology software market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.