- Healthcare organizations implementing advanced medical imaging solutions to generate more detailed images may have trouble viewing images in a timely manner or picking out necessary details without appropriate medical image analysis software.
The increase in advanced imaging solutions is driving the market for medical image analysis software, according to a recent Markets and Markets report.
The report forecasts that the market for medical image analysis solutions is expected to grow at a CAGR of 8 percent through 2022.
“The growth of the market is attributed to technological advancements in medical imaging systems and analysis software, growing public- and private-sector investments in the medical imaging market, increasing use of imaging equipment due to rising prevalence of chronic diseases, fusion of imaging technologies, and growing applications of computer-aided diagnosis,” said report authors.
“Growing need for automated image analysis tools, rising adoption of cloud-based imaging solutions, and untapped emerging markets are expected to offer significant growth opportunities for manufacturers in the coming years.”
Medical imaging analysis software can be standalone or integrated into the medical imaging solution. The report found that integrated medical imaging analysis software has been dominating the market since early 2017. This is because the software is directly compatible with the imaging solution, so it can handle faster processing.
However, standalone software is still expected to take up a significant chunk of the market because it can be easier to use and offers organizations more flexibility.
Hospitals are expected to experience the highest CAGR during the forecast period over diagnostic and research centers because of their greater use of medical imaging software and the higher installed base of diagnostic imaging systems. Hospitals also experience a higher patient inflow, which is expected to boost demand, according to the report.
Healthcare organizations are experiencing an influx of medical images as the number of patients they treat grows and advancements in imaging technology continue to produce more images. The more images produced, the more difficult it is to analyze them for patients and use them for big data analytics.
Another recent Markets and Markets report predicted that in addition to medical imaging analytics, advanced visualization (AV) solutions are needed to automate how images are displayed to the end-user after they’re analyzed.
AV solutions display related data and connections so end-users don’t have to spend time building charts and organizing relevant data.
Factors driving the AV market in healthcare include technological advancements in AV software. This consists of integration of picture archiving and communication systems (PACS) and AV tools, improved diagnostic interpretation with AV tools, rising prevalence of target diseases, and growing demand for advanced diagnostic procedures.
However, report authors found that limited medical reimbursements for radiology-based diagnostic procedures and technological limitations associated with existing AV analysis may prevent some healthcare organizations from adopting new visualization solutions.
Another report released last year by Frost and Sullivan highlighted a similar need for visualization solutions to help clinicians view and analyze examination results.
“AV solutions are becoming an important element of the healthcare ecosystem as they enable physicians to access archived information and exchange it with other physicians over a common platform,” Frost and Sullivan Healthcare Research Director Siddharth Saha said in a statement.
“With the aid of AV solutions, physicians can view information from different modalities on various platforms. They can also better integrate patient information from EHRs, PACS, and health information exchanges.”
Diagnostic imaging technology is a large reason why medical imaging is expected to grow so rapidly over the next several years. Medical imagery has become more advanced over the past decade, allowing clinicians to view more detailed images including x-rays and MRI scans.
The ability to take high resolution images and store them is not enough to make that data actionable for the patient or the healthcare community. The ability for clinicians to analyze and view images can help put the images into better context and allow them to treat the patient more accurately. Without supportive imaging tools like analytics and visualization, medical images cannot be used to their fullest potential.