Cardiac imaging software has played a vital role in the diagnosis of various chronic heart diseases. Today, electronic advances in medical imaging are on the rise driving the cardiac imaging software market. The heart imaging software has a wide range of compatibility with imaging devices, for example, magnetic resonance imaging, computed tomography, echocardiography and more. People suffering from any form of cardiovascular disease are at high risk of developing hyperlipidemia, diabetes, hypertension and others. The need for early detection or diagnosis and management is necessary for treatment, thus paving the way for the growth of this market. Computed tomography is the type of tomography segment dominating the market with a CAGR of 7.18% during the forecast period.
It is estimated that the cardiac imaging software market is expected to grow at a CAGR of 8.17% during the forecast period.
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regional analysis
The global cardiac imaging software market consists of regions namely America, Europe, Asia Pacific and Middle East.
America commands a large share of the market owing to the huge patient population suffering from diseases such as heart disease, cardiovascular disease and diabetes, increasing demand for cardiac imaging devices and strong government support. In addition, the availability of funds and the increase in the geriatric population will drive the market growth. It is estimated that every 40 seconds a person dies of a heart attack in the US. Furthermore, approximately 630,000 Americans die of heart disease each year.
Europe is the second largest market worldwide, followed by Asia Pacific. According to the AISBL European Heart Network, mortality rates are generally higher for stroke and ischemic heart disease (IHD) in central and eastern Europe than in northern and western Europe. Furthermore, in 2015, there were 11.3 million new cases of CVD alone.
Globally, the cardiac imaging software market in Asia Pacific accounted for a market share of 27.1% in 2016 and is the fastest growing market. China and India are the major contributors to the market growth due to the presence of a huge population base, increasing prevalence of diabetes and heart disease, increasing healthcare expenditure and a rapidly growing economy. Additionally, increasing government support and presence of huge opportunities have fueled the market growth in Asia Pacific. Japan holds the largest share for the cardiac imaging software market in the Asia Pacific region. Growing demand for outpatient surgery is in Asian countries leading to growing diagnostic demand for cardiac imaging software market in Asia Pacific. In India, increasing number of hospitals and healthcare facilities, availability of low cost of raw material and better access to labor favor the growth of this market. Australia and the Republic of Korea show slow growth in the cardiac imaging software market.
segmentation
The global cardiac imaging software is segmented on the basis of imaging modalities and end users.
On the basis of imaging modalities, the global cardiac imaging software market is segmented into tomography, ultrasound imaging, radiographic imaging, and combined modalities. Tomography is further classified into computed tomography (CT), magnetic resonance imaging (MRI), positron emission tomography (PET), and single photon emission computed tomography (SPECT).
On the basis of end users, the global cardiac imaging software market consists of hospitals and clinics, diagnostic centers, and others.
key players
Some of the key players in the global cardiac imaging software market are Koninklijke Philips NV (Netherlands), Siemens Healthineers (Germany), Toshiba Corporation (Japan), Shimadzu Corporation (Japan), Agfa healthcare (USA), TOMTEC IMAGING SYSTEMS GMBH (Germany), Circle Cardiovascular Imaging Inc. (USA), CardioComm Solutions Inc. (Canada), Integer Holdings Corporation (USA), Pie Medical Imaging (Netherlands), HeartSciences (USA), 3mensio Medical Imaging (USA), eMedica, SL (USA). Cardiac Imaging Technologies, LLC, McJackson Corporation (USA), GE Healthcare (USA), Medis Medical Imaging Systems (Netherlands), Creavo Medical Technologies (UK), Pixmeo SARL (Switerzland), Fujifilm Corporation Holdings (Japan), Positron Corporation (USA)
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