Medical image analysis is the process of analyzing health-related problems with the help of a digital image processing technique and various imaging modalities. Medical image analysis software help in the quantitative analysis of medical images, guidance, diagnosis, and planning of treatment. Such solutions have become an integral part of diagnostic machines.
Visionary Leaders have a strong and established product portfolio and a very strong market presence. They provide mature, innovative, and reputable medical image analysis software. They also have strong business strategies.
The companies falling in this quadrant are established vendors with very strong business strategies. However, they have a weaker product portfolio as compared to the visionary leaders. They focus only on a specific application or delivery of medical image analysis software.
Innovators are vendors that have demonstrated substantial product innovations as compared to their competitors. They have a strong product portfolio, however, do not have a strong business strategy for their overall business compared to the visionary leaders.
They are vendors with niche product offerings and are expected to gain a significant position in the market. They do not have developed business strategies as compared to other established vendors. Also, they might be new entrants in the market and require some time before gaining traction in the market. On the basis of end user, the medical image analysis software market is segmented into hospitals, diagnostic centers, and research centers. Imaging modalities such as MRI, CT, PET, SPECT, PET/CT, and SPECT/CT are commonly used in the hospitals on a large scale. Imaging devices in hospitals generate a large number of images—from 300 to 500 (sometimes over 1,000) per examination, thus increasing the workload of radiologists. In addition, there can be differences between the interpretation performances of radiologists; image analysis software helps eliminate these differences. In addition, due to the high inflow of patients, hospital staff relies on technologies that provide quick analysis and interpretation of images, in which the image analysis software plays a vital role. This helps physicians to decide on the treatment. There are many small hospitals and clinics that do not have their own imaging systems; diagnostic centers/private imaging centers play a vital role in such cases. These centers are well equipped with imaging modalities and software, which helps them provide accurate and quality results to patients. The contribution of research centers to the image analysis software market is slowly increasing, as advanced imaging software is required to investigate medical conditions for the early detection of diseases like Alzheimer’s and cancer. Many private research centers and academic research centers utilize imaging modalities to study and develop innovative therapies. These centers perform research activities for all departments such as radiology, nuclear medicine, tomography, and ultrasound. The use of imaging equipment, data analysis equipment, and software helps in understanding disease processes and therapy management with the long-term goal of improving the health of the patient.