According to the current analysis of Reports and Data, the global Ultrasound Image Analysis Software market was valued at USD 696.0 Million in 2018 and is expected to reach USD 1,351.5 million by the year 2026, at a CAGR of 8.6 %.
Of all medical imaging modalities, ultrasound is perhaps the one most often used when real-time imaging is required. Therefore, image analysis of ultrasound data is potentially useful when done in real-time as well. It is, then, necessary to create a software environment with convenient APIs that allow testing of various image analysis algorithms when ultrasound data arrives in real-time of at a rate of at least 10 frames per second. Ultrasound is a method of imaging that permits real-time visualization of the internal anatomy of a human. Like CT and MRI, ultrasound is non-invasive, but ultrasound does not carry any radiation exposure risk and is relatively inexpensive. Because of the low risk and wide availability of ultrasound, it is being increasingly used in many areas of medicine: radiology, cardiology, women’s healthcare, emergency medicine, family practice, urology, nephrology, vascular surgery, general surgery, sports medicine, ophthalmology, gastroenterology, telemedicine, veterinary medicine, etc. Clinical ultrasound typically uses frequencies of 2 to 30 MHz. Pulses of sound energy travel from the ultrasound probe to an anatomical interface, which reflects the sound back to the probe.
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The pharma and healthcare industry is expected to observe significant growth over the coming years attributed to the increasing incidence of chronic diseases across the globe, growing geriatric patient pool, availability of advanced and minimally invasive surgical and diagnostics procedures, favorable reimbursement scenario, and presence of a robust product pipeline of drugs and therapeutics. In addition, the growing integration of IoT, ML, and AI in medical procedures and equipment along with rapid progress in drug design and development. A combination of innovation and technology has brought about massive changes in the healthcare industry and the rapid adoption of telemedicine, remote consultation, and e-prescription has significantly contributed to the revenue growth of the market.
Research Methodology:
Reports and Data utilizes a unique approach to research to offer a comprehensive overview of the global Ultrasound Image Analysis Software Market to offer insights into investment opportunities for stakeholders, investors, clients, and businesses to make informed decisions. The report includes SWOT analysis, Porter’s Five Forces analysis, feasibility analysis, and investment return analysis to offer a better understanding of the market scenario.
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Asia Pacific is expected to lead the market growth over the coming years owing to rapid advancements in the healthcare sector in APAC countries such as India, China, and Japan. North America is anticipated to register the highest market growth over the forecast period attributed to the increasing availability of robust healthcare and clinical settings, legalization of medical marijuana, favorable reimbursement scenario, presence of key market players, and rapid technological advancements in the region.
The growing popularity of over-the-counter medications driving market growth
Growing incidence of acute and chronic diseases and lesser access to advanced medical facilities owing to low disposable income levels are driving the demand for over-the-counter medications. Availability of generic and low-cost alternatives to medical therapies are some other factors playing a major role in driving demand for over-the-counter medications.
Restriction on product launches and R&D activities to hamper the market growth
The imposition of strict government regulations and shortage of funds has put a halt on product launches and R&D activities and is expected to restrain market growth over the forecast period. In addition, the launch of expensive drugs and therapies and increasing regulations regarding safety and approvals are also hampering the market growth.
Competitive Landscape:
The global market comprises various market players operating at regional and global levels. These key players are adopting various strategies such as R&D investments, license agreements, partnerships, mergers and acquisitions, collaborations, and joint ventures to gain a robust footing in the market.
The global Ultrasound Image Analysis Software market is highly fragmented with major players like GE Healthcare, Philips Healthcare, Siemens Healthineers, Agfa Healthcare, MIM Software Inc., Esaote SpA, Merge Healthcare Incorporated, Xinapse system Ltd., Spacelab Healthcare Inc., and OSI Systems, amongst others, that collectively constitute a competitive market
Ultrasound Image Analysis Software Market Segmentation:
Ultrasound Image Analysis Software by Type Outlook (Revenue in Million USD; 2016–2026)
- Integrated Ultrasound Image Analysis Software
- Standalone Ultrasound Image Analysis Software
Ultrasound Image Analysis Software by Product Outlook (Revenue in Million USD; 2016–2026)
- 2D ultrasound systems
- 3D&4D ultrasound systems
- Doppler imaging
Ultrasound Image Analysis Software by Application Outlook (Revenue in Million USD; 2016–2026)
- Orthopedic
- Dental
- Cardiology
- Oncology
- Obstetrics & Gynecology
- Nephrology & Urology
- Radiology
- Others
Regional Outlook:
- North America (U.S., Canada, Mexico)
- Europe (Germany, U.K., Italy, France, BENELUX, Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Rest of Asia Pacific)
- Latin America (Brazil, Rest of LATAM)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of the Middle East & Africa)
Frequently asked questions addressed in the report:
- What is the revenue growth rate of the global Ultrasound Image Analysis Software market over the forecast period?
- What are the major factors driving the growth of the Global Ultrasound Image Analysis Software Market?
- What are the key challenges impacting the global Ultrasound Image Analysis Software market growth?
- What are the outcomes of the SWOT Analysis and Porter’s Five Forces Analysis conducted in the report?
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