Market Scenario:
Cardiac imaging software is employed for the management and analysis of cardiac images generated by imaging device such as computed tomography (CT), magnetic resonance imaging (MRI) and others. The global cardiac imaging software market is estimated to generate a CAGR of about 8.17 % during the review period of 2017 to 2023.
Market Dynamics:
Drivers
Increasing incidence and prevalence of cardiopathies, and growing volume and degree of concurrent risk factors such as sedentary lifestyles, large intake of fatty and junk foods, smoking, alcoholism, stress and others are the critical drivers of the market.
The development of healthcare infrastructure around the world, growing income, awareness and others are other drivers of the market. The advances in technology such as real time imaging analytics, digitization, connected devices, image identification, and others are technical drivers of the market. Growing adoption of imaging for treatment and prognosis such as stent placements and others are driving the market to newer heights. The mergers of healthcare players is also favoring the market owing to the increase in buying power and economies of scale and scope. Development of advanced devices such as single-photon emission computed tomography (SPECT) is creating a demand for advanced and complex software which is propelling the market to newer heights.
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Restraints
Poor healthcare infrastructure, low healthcare expenditure, and income in the underdeveloped regions is hampering the market growth.
Segmentation:
To generate an accurate assessment of the market potential, the global cardiac imaging software market report has been segmented on the basis of imaging modalities and end-users
Imaging modalities – tomography, ultrasound imaging, radio-graphic imaging and combined modalities. The tomography is further categorized into computed tomography (CT), magnetic resonance Imaging (MRI), positron emission tomography (PET) and single-photon emission computed tomography (SPECT). The tomography segment is expected to generate the fastest growth at a CAGR of 7.67 % of the global cardiac imaging software market by imaging modalities.
End users – hospitals & clinics, diagnostic centers, and others. The diagnostic centers are expected to be the fastest growing segment at a CAGR of 8.48 % of the global cardiac imaging software market by end users.
Regions – Americas, Europe, Asia Pacific, and the Middle East and Africa.
Regional Analysis:
The Americas led by the U.S. account for the largest market for cardiac imaging software market owing to large demand for cardiac monitoring devices, large patient population, faster uptake of new technology, excellent reimbursements and others. America’s cardiac imaging software market was anticipated to generate USD 97.6 million in 2016.
Europe possess the second largest market share for cardiac imaging software led by Germany, France and the U.K. The large medical devices industry of Germany coupled with the presence of large number of world class players are driving the European market. The large cardiac patients population is reflected by the fact that cardiovascular diseases cause more than 1.8 million deaths, represented 45% of all deaths in the European Union (EU) every year.
Asia Pacific is expected to be the fastest growing cardiac imaging software market owing to the shift of cardiopathies towards the developing regions. However the rice, cereal and dairy based diets of most Asian nations have resulted in Asian nations having the lowest rates of cardiac disorders and diseases.
Middle East & Africa is expected to generate moderate growth skewed in favor of the Gulf economies of Saudi Arabia, UAE and others owing to their large economies and developing healthcare infrastructure.
Prominent Players:
Some of dominant the players in the global cardiac imaging software market are Toshiba Corporation (Japan), Koninklijke Philips N.V. (the Netherlands), Shimadzu Corporation (Japan), Positron Corporation (U.S.), Siemens Healthineers (Germany), Agfa healthcare (U.S.), HeartSciences (U.S.), Circle Cardiovascular Imaging Inc. (U.S.), CardioComm Solutions Inc. (Canada), TOMTEC IMAGING SYSTEMS GMBH (Germany), Integer Holdings Corporation (U.S.), Fujifilm Holdings Corporation (Japan), Pie Medical Imaging (the Netherland), 3mensio Medical Imaging (U.S.), eMedica, S.L. (U.S.). Heart Imaging Technologies, LLC, GE Healthcare (U.S.), Medis medical imaging systems (Netherland), Creavo Medical Technologies (U.K), McKesson Corporation (U.S.), Pixmeo SARL (Switerzland), and others.
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