The global ultrasound image analysis software market is expected to reach USD 1.2 billion by 2025
The growing prevalence of chronic diseases is a high impact rendering growth driver for the ultrasound image analysis software market. The increasing prevalence is presumed to be driving the clinical urgency to adopt ultrasound image analysis software in order to improve the existing poor patient diagnostic imaging measures and reduce long-term cost associated with the conventional diagnostics.
In addition, a widening geriatric population base, possessing high susceptibility toward development of chronic diseases is expected to upsurge the demand for ultrasound image analysis software in the future. According to a research published in Medscape, chronic diseases, which predominantly include cardiovascular diseases, are responsible for high mortality rate in the U.S. Consequentially; presence of these highly prevalent cardiovascular diseases raises the demand to utilize advanced diagnostic and imaging alternatives. The aforementioned factor is anticipated to widen the potential for growth throughout the forecast period.
Further Key Findings From the Study Suggest:
Standalone systems are expected to exhibit lucrative growth rate during the forecast period. The exponential growth can be attributed to associated benefits that include easy access, data sharing, enhanced diagnostic, and ability to monitor medical disorders
3D&4D ultrasound systems are anticipated to witness growth at an exponential rate owing to increasing software adoption in this segment due to its simplified functionality and enhanced interactive execution of image processing tasks
In 2015, North America held a dominant share in the global ultrasound image analysis software market owing to local presence of established pharmaceutical companies that work toward direction of extensive commercialization of their product offerings
Asia Pacific is anticipated to grow at an exponential CAGR as a result of unmet patient needs, continual infrastructural & technological upgradation, and rising healthcare expenditure
Some major players of this sector include GE Healthcare, Philips Healthcare, Siemens Healthineers, Merge Health Incorporated.
The key participants are employing sustainability strategies to gain competitive advantage. For instance, in May 2015, GE Healthcare collaborated with OneMedNet Corporation to expand medical image sharing solutions such as web-based sharing