Japan is one of the biggest markets for medical imaging, apart from Europe and the US. The aging population and the Fukushima nuclear blast are compounding the growth. The total density of MRI per million people was almost 46% a few years back. The Asia-Pacific market for medical imaging is growing at a good pace. With economies improving, the rise of the middle-class and the increasing concerns about personal healthcare has fuelled the growth of the medical imaging software market in Asia-Pacific.
The changing lifestyles and rising aging population are driving the demand for new technologies and solutions that can help in effective and early diagnosis of diseases. Government focus on population management is also a major contributing factor to investment in such technologies. The demand for new advanced solutions has seen investments grow exponentially in R&D. One such field that has witnessed such growth is medical imaging.
Medical imaging seeks to reveal internal structures as well as diagnose and treat diseases. Increasing demand for these solutions presents a unique opportunity for medical imaging software vendors and in turn, has become an attractive market. This market is growing at a faster rate than the medical imaging equipment market. Medical imaging includes a set of several different technologies that are used to view the human body in order to diagnose, monitor, or treat medical conditions. Each type of technology gives different information about the area of the body being studied or treated, related to possible disease, injury, or the effectiveness of medical treatment.
The medical imaging software market is driven by the changing healthcare sector where a large number of private players have entered to take advantage of the expanding healthcare market with its applications in radiography, magnetic resonance imaging (MRI), nuclear medicine, ultrasound, tactile imaging, thermography, and tomography. The growing demand for medical imaging devices, increasing number of players in healthcare, and the rise in the number of applications of CAD are some of the factors driving the growth of the medical imaging software market.
The issue that may come up with the medical imaging software market is the security associated with it. Security issues could compromise the authenticity of the data that is stored while using these devices. Also, if the right kind of software is not bought, there may be issues while using the same. The costs associated with these products are also high, depending on the kind of device one is using the software for.
Some of the major vendors mentioned in the report are:
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