Ultrasound Imaging Software Market Assessment worth $ 1.98 Billion by 2030 – Exclusive Report by InsightAce Analytic
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Ultrasound Imaging Software Market- by Service Types (Integrated, Standalone, and Next Generation/AI-based Software), Application (Radiology, OB/GYN, Urology, Cardiology, and Others (Orthopedic, etc.)), End-Users (Hospitals, Speciality Clinics, and Others (ASCs, Research Institutes, etc.)), Trends, Industry Competition Analysis, Revenue and Forecast To 2030.”
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According to the latest research by InsightAce Analytic, the global Ultrasound Imaging Software market is valued at US$ 894.87 Million in 2021, and it is expected to reach US$ 1.98 Billion by 2030, with a CAGR of 9.6% during a forecast period of 2024-2031.
The Growing Demand for Ultrasound Imaging Software
The medical field is constantly evolving thanks to high levels of research and development. Innovation, high-tech products, and a vibrant small and medium-sized enterprise (SME) landscape are hallmarks of the medical technology industry. In this dynamic environment, ultrasound imaging software plays a critical role in ensuring the proper functioning of ultrasound devices.
Market Drivers
The demand for sophisticated medical imaging technologies is on the rise, fueled by advancements in medical technology. Ultrasound imaging software providers are likely to set their sights on developing countries with expanding healthcare budgets, recognizing the significant growth potential in these markets.
Several factors are expected to propel the ultrasound imaging software market forward:
• Increased Need for Improved Imaging and Diagnostics: The need for more accurate and efficient diagnostic tools is a key driver. Ultrasound imaging software plays a vital role in advanced imaging and diagnostic procedures.
• Demand for Better Diagnostic Methods: The growing demand for better diagnostic methods, including a shift towards greater digitization in healthcare, is driving the market.
• Rising Prevalence of Chronic Diseases: The increasing incidence of chronic illnesses creates a greater demand for advanced diagnostic tools like ultrasound imaging software.
• Aging Populations: As the global population ages, the need for diagnostic tools to detect and manage age-related conditions is expected to rise.
• Technological Advancements: Continuous advancements in ultrasound imaging technology create a demand for updated software to utilize these features effectively.
• Growing Awareness of Early Diagnosis: The increasing public awareness of the benefits of early disease detection is likely to create new opportunities for ultrasound imaging software providers.
Market Advantages and Challenges
• Rapid Adoption by Established Healthcare Systems: The well-established healthcare infrastructure in developed regions is expected to lead to the quick adoption of new ultrasound imaging software solutions.
• Digitalization in Healthcare: The rapid digitalization of the healthcare industry will likely fuel the use of computer-aided diagnostics, further increasing the market potential for ultrasound imaging software.
However, the market also faces some challenges:
• Cybersecurity Concerns: The rising frequency of cybersecurity breaches poses a threat to ultrasound imaging software providers, potentially hindering market growth due to security concerns.
• Impact of the COVID-19 Pandemic: The global pandemic temporarily slowed the market’s growth as the focus shifted towards managing the COVID-19 crisis. With the easing of restrictions and a return to normalcy, the ultrasound imaging software industry is expected to experience a progressive rebound in the coming years.
By addressing these challenges and capitalizing on the growth drivers, the ultrasound imaging software market is well-positioned for continued expansion and innovation in the healthcare sector.
North America is anticipated to be the major contributor to the Ultrasound Imaging Software market over the forecast years. In this region, the demand for ultrasound imaging software is anticipated to rise significantly due to increasing healthcare costs and an ageing population. Improved healthcare infrastructure and a rise in the prevalence of chronic diseases are additional factors that may favourably influence the market potential for ultrasound imaging software.
The general public’s rising demand for better diagnostic options will also fuel the market expansion for ultrasound imaging software. The two biggest markets in this region are expected to be the US and Canada. In addition, the Asia Pacific Ultrasound Imaging Software market is expected to grow significantly during the forecast period because of the rising population and increased prevalence of chronic diseases like cancer and cardiovascular disease.
The region’s market growth is also linked to increased health care spending on cutting-edge treatment choices. Asia Pacific nations, including China, Japan, and India, are projected to have a bright future in the ultrasound image software industry.
Major market players operating in the Ultrasound Imaging Software market include AmCad BioMed, Amolab, ContextVision, Caption Health, Inc., DiA Imaging Analysis Ltd., Koios Medical, Inc, eZono, GE Healthcare, iNNOGING Medical Limited, Medecom, Philips Healthcare, PS-Medtech, Siemens Healthineers, MIM Software, Inc., and Esaote SpA.
Recent collaborations and agreements in the market:
• In March 2022, Canon Medical Systems announced an agreement to buy Nordisk Rontgen Teknik to improve its X-ray imaging capabilities.
• In June 2019, ClariPi Inc., a well-known company in the medical imaging solutions sector, created and approved a new CT scanner with artificial intelligence capabilities. The scanner “ClariCT.AI” was among the most cutting-edge at the time, and sales have been strong ever since.
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Market Segments
Global Ultrasound Imaging Software Market, by Service Type, 2022-2030 (Value US$ Mn)
• Integrated
• Standalone
• Next Generation/AI-based Software
Global Ultrasound Imaging Software Market, by Application, 2022-2030 (Value US$ Mn)
• Radiology
• OB/GYN
• Urology
• Cardiology
• Others (Orthopedic, etc.)
Global Ultrasound Imaging Software Market, by End-Users, 2022-2030 (Value US$ Mn)
• Hospitals
• Specialty Clinics
• Others (ASCs, Research Institutes, etc.)
Global Ultrasound Imaging Software Market, by Region, 2022-2030 (Value US$ Mn)
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
North America Ultrasound Imaging Software Market, by Country, 2022-2030 (Value US$ Mn)
• U.S.
• Canada
Europe Ultrasound Imaging Software Market, by Country, 2022-2030 (Value US$ Mn)
• Germany
• France
• Italy
• Spain
• Russia
• Rest of Europe
Asia Pacific Ultrasound Imaging Software Market, by Country, 2022-2030 (Value US$ Mn)
• India
• China
• Japan
• South Korea
• Australia & New Zealand
Latin America Ultrasound Imaging Software Market, by Country, 2022-2030 (Value US$ Mn)
• Brazil
• Mexico
• Rest of Latin America
Middle East & Africa Ultrasound Imaging Software Market, by Country, 2022-2030 (Value US$ Mn)
• GCC Countries
• South Africa
• Rest of Middle East & Africa
Why should buy this report:
To receive a comprehensive analysis of the prospects for the global Ultrasound Imaging Software market
To receive an industry overview and future trends of the Ultrasound Imaging Software market
To analyze the Ultrasound Imaging Software market drivers and challenges
To get information on the Ultrasound Imaging Software market value (US$Mn) forecast to 2030
Significant investments, mergers & acquisitions in the Ultrasound Imaging Software market industry
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