Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.
Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.
We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.
In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months. Request Insights
Global Cardiac Imaging Software Market Overview
Imaging Software offers enhanced resolution and overall details of heart’s functioning for efficient diagnosis. The introduction of this software has brought in the provision of image acquirement in multiple oblique planes in different angles along the axis of the heart. Many of these software also enable functional evaluation of myocardial contraction and wall thickening along with measurement of volumes and ejection fraction in cardiac patients. On the back of increasing urbanization and rise in personal disposable income resulting in increasing healthcare expenses is anticipated to drive the cardiac imaging software market over the forecast period i.e. 2019-2027.
Market Size & Forecast
The market is anticipated to record a CAGR of 6.9% over the forecast period. Many multi-national companies are concentrating towards new product advances in cardiac imaging software in order to offer advanced medical technology and pose a strong foothold of its brand in the market. Increasing technological innovations such as fused color-coded functional parameters adds an additional dimension and various other specialized properties that are further expected to boost the growth of the market considerably in upcoming years. Furthermore, growing incidences of cardiac arrests in pediatric population is also expected to increase the market shares across the globe.On the basis of regional platform, the global cardiac imaging software market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is anticipated to showcase a sturdy growth rate in cardiac imaging software market on the back of the region having a well-developed healthcare sector and efficient medical facilities. North America is panned to be followed by Asia Pacific on account of developing economic conditions along with rise in healthcare expenses and increasing number of healthcare facilities across the region. CLICK TO DOWNLOAD SAMPLE
Europe is estimated to display a budding growth on account of increasing geriatric population across the region with the presence of countries such as, Italy, Germany and others having some of the highest geriatric population growth rate along with growing demand for outpatient surgeries over the forecast period.
Market Segmentation
Our-in depth analysis of the global cardiac imaging software market includes the following segments:
By Imaging Type
By End-Users
By Region
Global cardiac imaging software market is further classified on the basis of region as follows:
Growth Drivers & Challenges
On the back of advancement in computer software that allows for reducing the number of steps needed to shorten exam times and by improved imaging in a smaller package, the global market for cardiac imaging software is expected to be driven robustly during the forecast period. Additionally, increasing ongoing R&D activities to make imaging software more convenient as well as cost efficient is anticipated to boost the cardiac market shares substantially over the forecast period. The new generation cardiac imaging software offers structural and functional change detection of the heart that can be automatically analyzed and contemplated to understand any future as well as present possibilities of heart conditions in a patient.
Growing Cardiovascular Disorders
On the back of increasing adoption of unhealthy diet, physical inactivity, tobacco use and harmful use of alcohol, the intermediate risk factors such as raised blood pressure, raised blood glucose, raised blood lipids, overweight and obesity are developed. These risk factors when diagnosed through imaging devices help in detection of a heart attack, stroke, heart failure and other complications. Increasing cases of cardiovascular diseases is expected to drive the cardiac imaging software market significantly over the forecast period. As per WHO statistics, cardiovascular deaths are the 1st cause of global deaths with 17.9million deaths in 2016 which has estimated to have resulted in 31% of deaths across the world. Additionally, drug treatment of diabetes among growing diabetic population, increasing incidences of hypertension and hereditary factors are attributed to serve as major factors behind the growth of the cardiac imaging software market during the forecast period.
Rising Geriatric Population
As per the reports of World Bank, the growing geriatric population around the globe from 7.64% in 2010 to 8.7% in 2017 is anticipated to aid the growth of the cardiac imaging software market over the forecast period owing to deposits of the "aging pigment," lipofuscin with age in blood vessels.
Moreover, high occurrence of rheumatic fever in children across developing countries leads in rheumatic heart diseases, which is further anticipated to drive the market revenue during the forecast period.
Stringent Regulatory Standards
However, these new generation software equipment require tailoring to different categories of workforce who are not necessarily experts in image processing and computer platforms for wide range distribution with software access along with stringent regulatory body standards. This is expected to be a tedious process thus limiting the growth of the cardiac imaging software market during the forecast period.
Key Players
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