In 2021, the global Brain Modalities and Software Market was valued at $13,343.3 million, which is set to reach $23,195.6 million by 2030, at a CAGR of 5.2% during 2021–2030. 

Because traditional methods combined with AI software produce faster and more-reliable results, they are gaining favor. However, although software solutions provide value to standalone imaging modalities, in terms of numerical evaluations, diagnostic accuracy, and precision, software adoption in the LATAM and MEA regions has been slow, which will impel brain modalities and software market players to aggressively market their offerings here.

Key Findings of Brain Modalitiesand Software Market Report

•                       APAC is a rapidly growing brain modalities and Software market, with a CAGR of roughly 7% predicted over the projection period. The increasing healthcare spending, existence of a large number of market participants, expanding awareness of early illness diagnosis, and rising frequency of brain disorders are driving the demand for radiological equipment and software.

•                       As the number of persons affected by non-communicable neurological illnesses grows, so will the amount of money spent on treatment. Governments will need to confront a rise in the demand for neurological condition diagnosis, rehabilitation, treatment, and support services, as the population increases and ages.

•                       Hence, Hyperfine Inc. announced its entry into the Canadian market in December 2021 with Health Canada issuing a license for its portable MRI device, Swoop. The license also covers the recently FDA-approved deep learning-based enhanced reconstructive software.

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For instance, Nano-X Imaging Ltd. completed its merger with Zebra Medical Vision Ltd., a deep learning medical imaging analytics business, in November 2021. USARAD Holdings Inc., a supplier of teleradiology services, and MDWEB LLC, a decentralized marketplace linking imaging providers with radiologists, were also reported as successful strategic acquisitions.