The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
Over the past few years, rapid technological advancements & innovations has led software to develop as an integral part of the diagnostic machines in order to offer better quality of images, in a less time. It has become the work horse of any machines/equipment used in the current scenario; with medical devices being no exception.
Rapid increase in baby boomers along with growing health concern has accelerated the need for efficient and effective medical procedures, consuming less time; thereby boosting the growth of medical X-Ray Equipment and Imaging Software Market which are generally used for varied purposes such as training, viewing, storing data, sharing data etc.
Medical image software’s are used to analyze varied health related problems with the help of digital image processing technique and various imaging modalities. Such medical X-Ray Equipment and Imaging Software are used by the medical professionals to make processes within the human body visible so that they can diagnose pathological changes and precisely target therapeutic procedures.
Growing geriatric population, increasing government initiatives, rapid technological advancements and increasing demand for cost effective solutions are some of the factors stimulating the growth of the Medical X-Ray Equipment and Imaging Software Market, globally. The market is projected to grow at a CAGR of 7.12% for the six year forecasted period.
X-ray devices held the largest market share in the Global X-Ray Equipment and Imaging Software Market in 2014. Easy availability & acceptability of x-ray devices along with growing incidence of disorders are the major factors providing key impetus to the market growth.
In 2014, North America held the largest market share of 28.45% in the Global X-Ray Equipment and Imaging Software Market, followed by Europe owing to developed healthcare infrastructure, technological advancement and rise in demand for quality healthcare services in the region.
Whereas, growing demographics and economies in the developing countries such as India and China with increase in ageing population, developing healthcare infrastructure and government initiatives are some of the key factors driving the growth of X-Ray Equipment and Imaging Software Market in the Asia Pacific region. The region is expected to witness the highest growth during the forecast period (2014-2020).
Emerging opportunities such as growing eHealth market along with growth in emerging economies like India, China and Brazil will act as a catalyst for the innovators in X-Ray Equipment and Imaging Software Market.
However, inherent software difficulties and security issues such as hacking and cybercrime will largely impact the growth of the X-Ray Equipment and Imaging Software Market.
The Global Medical X-Ray Equipment and Imaging Software Market has been broadly segmented on basis of technology, image type, end users and geography. As per technology the market for Medical X-Ray Equipment and Imaging Software has been segmented into X-Ray, magnetic resonance imaging (MRI), ultrasound, Computer tomography (CT) and others. Whereas, as per image type the market has been segmented into 4D, 3D and 2D images. As per end users the market has been segmented into hospitals, Diagnostic Centre and others.
Increasing number of mergers and acquisitions, growing online portals, rise in number of collaborations and partnerships along with new product launches and open source software are some of the latest trends that have been observed in the global medical x-ray equipment and imaging software market. Some of the major market players mentioned in the report are GE Healthcare, Philips Healthcare, Toshiba Medical Systems Corporation, Carestream Health, Inc., and Siemens Healthcare.