Cardiac Imaging Software Market Research Report- Global Forecast till 2023, Published by MRFR. Cardiac Imaging Software Market Research Report Insights and Industry Analysis By Imaging Modality (Tomography, Ultrasound & Radiographic Imaging, Combined Modalities), Tomography (Ct, Mri, Pet, Spect), End-User (Hospitals And Clinics, Diagnostic Centers) – Global Forecast Till 2023
Cardiac Imaging Software Market Overview
Cardiac imaging software is highly preferred to diagnose cardiac-related problems with the help of MRI and angiography, CT scan, radioactive substances, and other radiant energy forms. Cardiovascular diseases are considered the most common causes of patient mortality and hospitalization. It is vital for a physician to perform a cardiovascular imaging test in order to diagnose heart condition. Cardiovascular imaging allows a radiologist to check inside the heart in detail. The global cardiac imaging software market, as per a report by Market Research Future (MRFR) is touted to register a CAGR of 8.17%, surpassing a valuation of USD 528.5 million during the forecast period (2014-2023).
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The market is mainly fueled by factors such as technological advancements made in the imaging equipment and ever-increasing geriatric population across the globe. The rising number of cardiac surgeries is further encouraging the market growth across the globe. Several MNCs are concentrating on product development in cardiac imaging software to offer advanced medical technology. Technological innovations like fused color-coded functional parameters are likely to contribute to the market growth in the foreseeable future. Moreover, rising prevalence of cardiac arrest in pediatric population will augment the market growth in the years to come.
On the contrary, the dearth of reimbursement and high cost of treatment are some of the major concerns likely to deter the market growth in the foreseeable future.
The top players operating in the cardiac imaging software market include
- Siemens AG (US)
- Koninklijke Philips NV (Netherlands)
- Shimadzu Corporation (Japan)
- Canon Inc (Japan)
- GENERAL ELECTRIC (US)
- Agfa-Gevaert Group (Belgium)
- TOMTEC IMAGING SYSTEMS (Germany)
- Fujifilm Holdings Corporation (Japan)
- Pie Medical Imaging (Belgium)
- Circle Cardiovascular (US)
- MEDIS Medical Imaging Systems (Netherlands)
- HeartSciences (US)
Global Cardiac Imaging Software Market: Segmental Analysis
The cardiac imaging software market has been segmented on the basis of imaging modalities and end user.
By imaging modalities, the market is segmented into ultrasound imaging, tomography, combined modalities, and radiographic imaging. Of these, the tomography segment accounted for USD 105.6 million in 2016.
The end users segment comprises diagnostic centers, hospital & clinics, and others. Of these, the hospitals’ segment is estimated to garner the major share due to favorable reimbursement policies and the presence of advanced infrastructure.
Based on the region, the cardiac imaging software market covers growth opportunities and latest trends across Europe, Asia Pacific, the Americas, and the Middle East & Africa.
Considering the global scenario, the Americas is predicted to dominate the global market during the assessment period, owing to the presence of well-developed technology, the existence of leading players, and soaring expenditure on healthcare.
Europe has managed to seize the second-largest share in the global market, and the growth can be credited to the surging investment in R&D, rising healthcare funds, and the presence of well-developed healthcare infrastructure.
Meanwhile, the Asia Pacific will exhibit the fastest growth owing to the ever-increasing population, rapid changes identified in the healthcare sector, and surging expenditure on healthcare. Moreover, improving healthcare facilities, coupled with the increasing economic growth is likely to favor the regional market’s growth in the region. In this region, India and China are considered to be the major contributors due to the rising incidence of cardiac diseases and diabetes. The rising number of healthcare services and hospitals, better access to labor, and availability of raw materials at low cost are favoring the market growth in India.
Cardiac Imaging Software Industry Updates
August 2019: Philips will exhibit its all-new cardiac care innovations at the European Society of Cardiology Congress 2019 in Paris. The company will showcase Release 5.0 of its Epiq CVx cardiovascular ultrasound platform, which includes 3-D right ventricle volume and ejection fraction measurements and automated applications for 2-D assessment of the heart.
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