Cardiac imaging software market players and analysis by imaging modality, by application, by end user, and region —forecast till 2027. 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 8.54%, surpassing a valuation of USD 704.32 million during the forecast period (2021-2027).
The market is primarily supported by elements like the development of imaging technology and the rising global geriatric population. The number of cardiac operations is increasing, which is further fostering global market expansion. To provide cutting-edge medical technology, several MNCs are focusing on product development in cardiac imaging software. Future technological advancements including merged color-coded functional metrics are projected to support market expansion. Furthermore, the market will rise in the coming years because to the rising occurrence of cardiac arrest in the paediatric population.
On the other hand, a lack of reimbursement and high treatment costs are some of the significant issues that will probably slow market expansion in the near 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), and 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.
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.
Due to its rapidly growing population, quick changes in the healthcare industry, and rising healthcare spending, Asia Pacific will have the fastest growth. Additionally, expanding healthcare facilities and rising economic growth are projected to support the expansion of the regional market. Due to the increasing prevalence of diabetes and heart illnesses in this region, India and China are regarded as the biggest contributors. The expansion of hospitals and healthcare facilities, easier access to labour, and inexpensive raw materials are all contributing to the market growth in India.
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