August 2016
technologies and solutions which can help in effective and early diagnosis of diseases. Government focus on population management is also a major contributing factor for investment in such technologies. The demand for new advanced solutions has seen investments grow exponentially in research and development. One such field which has witnessed such growth is medical imaging.
Medical imaging is a technique, process and art of creating visualizations of the interior of a body that help in clinical diagnosis and medical intervention. It seeks to reveal internal structures as well as diagnose and treat disease. Increasing demand for these solutions presents a unique opportunity for medical imaging software vendors and in turn has become an attractive market. Though, this market is growing at a faster rate than medical imaging equipment market.
The Latin America’s healthcare system has grown by leaps and bounds in the last few years. Many countries from this region have been globally recognized for its success in the healthcare sector. Initiatives by the governments like the Plan Nacer in Argentina have been hugely successful and popular in the country, tax-funded unified health system has completely changed the healthcare system in Brazil, and with Columbia establishing the right to healthcare in its constitution among many other plans in this region, it has overhauled the healthcare system in the region.
Recently, Brazil spent 46.4% of their expenditure on healthcare as a percentage of total government expenditure and Argentina’s spending was about 22.5%. This huge growth in spending in the healthcare sector has also increased the demand for medical imaging devices. Brazil is one of the biggest markets in this region with more than USD 4 billion in investments followed by Mexico, Chile, Columbia, which are also expanding their investments in medical imaging 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 changing healthcare sector where a large number of private players have entered to take advantage of expanding healthcare market with its applications in radiography, ultrasound, MRI, nuclear medicine and others.
The applications of this software range from radiography, magnetic resonance imaging (MRI), nuclear medicine, ultrasound, tactile imaging, thermography, and tomography to others.
Some of the major vendors mentioned in the report are Toshiba, Philips, QI Imaging, Medviso and MIM Software.
DRIVERS
The growing demand for medical imaging devices, increasing the 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.
RESTRAINTS
The issue that may come up with the medical imaging software market is the security issue 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 isn’t bought, there may be issues while using the same. The costs associated with these products is also high, depending on the kind of device you are using the software for.
WHAT THE REPORT OFFERS
