The global ultrasound image analysis software market is expected to hit $1.2 billion by 2025, according to a new report from Grand View Research Inc.
The market is mostly driven by the higher prevalence of chronic diseases, especially among the elderly population. Health care providers are turning to ultrasound image analysis software to reduce the long-term cost associated with conventional diagnostics.
From 2014 to 2025, the stand-alone ultrasound software segment is anticipated to be the most lucrative. That's due to its ease of access, data sharing capabilities, improved diagnostics and ability to monitor medical disorders.
North America dominated the market in 2015 because established pharmaceutical companies focused on extensively commercializing their product offerings.
During the forecast period, Asia Pacific is expected to grow exponentially due to unmet patient needs, ongoing infrastructural and technological advancements and a rise in health care expenditure.
The major players in the market are GE Healthcare, Philips Healthcare, Siemens Healthineers and Merge Health Incorporated. The companies are starting to focus on sustainability strategies to achieve a competitive advantage.
