HOME Research Insight Philips Healthcare (US) and Merge Healthcare (US) are the leading players in the Medical Image Analysis Software Market



Philips Healthcare (US) and Merge Healthcare (US) are the leading players in the Medical Image Analysis Software Market


The medical image analysis software market is expected to reach USD 3.88 Billion by 2022 from USD 2.61 Billion in 2017, at a CAGR of 8.2% during the forecast period. Factors such as 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 are driving the demand for medical image analysis software.

Mergers, acquisitions, and partnerships accounted for the largest share of the overall growth strategies mapped from 2014–2017. Some of the leading players who adopted these strategies include Philips Healthcare (US), Merge Healthcare (US), and Toshiba Medical Systems Corporation (Japan).

The medical image analysis software market is highly competitive with several big and small players. Prominent players in the medical image analysis software market include AGFA Healthcare (Belgium), AQUILAB (France), Carestream Health, Inc. (US), Esaote S.p.A (Italy), GE Healthcare (US), Image Analysis (UK), INFINITT Healthcare Co, Ltd. (South Korea), Merge Healthcare, Inc. (US), MIM Software Inc. (US), Mirada Medical Limited (UK), Philips Healthcare (Netherlands), ScienceSoft USA Corporation, Siemens Healthineers (Germany), Toshiba Medical Systems Corporation (Japan), and Xinapse Systems Ltd. (UK).

In 2016, GE Healthcare dominated the medical image analysis software market. The company has managed to create its identity in this market due to its robust product portfolio and large geographic presence. To further strengthen its product portfolio and market presence, the company focuses on product launches, expansions, and collaborations as its key growth strategies. A notable example of its focus was the expansion of its Healthcare IT Center of Excellence in Szeged, Hungary, in June 2015.

Philips Healthcare was the second leading player in the medical image analysis software market in 2016. As part of its growth strategy, Philips focuses on organic growth strategies like product launches and approvals. The company also lays emphasis on inorganic growth strategies like partnerships, acquisitions, and collaborations to increase its market presence in the medical image analysis software market. This growth of the company in this market can be attributed to its dedication towards product development and innovation. Its recent product launches and upgrades like IntelliSpace Portal 9.0 (November 2016), SkyFlow (December 2015), IntelliSpace Portal 8.0 (November 2015), and more have ensured that the company’s solutions are up-to-date and relevant

Related Reports:

Medical Image Analysis Software Market by Type (Standalone), Images (2D, 3D, 4D), Modality (CT, MRI, PET, Ultrasound), Application (Orthopedic, Dental, Oncology, Nephrology), End User (Hospital, Diagnostic Centre, Research) - Global Forecasts to 2022

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