AI in Medical Imaging Market Synopsis

AI in Medical Imaging Market Size Was Valued at USD 1.03 Billion in 2023, and is Projected to Reach USD 15.24 Billion by 2032, Growing at a CAGR of 34.9% From 2024-2032.

The AI in Medical Imaging Market can be defined as the specific use of the artificial technology of machine learning and deep learning algorithms to medical imaging application. When used in image interpretation AI supports the speed and efficiency of diagnostics when it comes to the analysis of a disorder and assists healthcare providers in their decision making. It can be performed in any area of imaging including diagnostic radiology pathology, and cardiology among others, and has grown rapidly in the recent literature due to integration of big data and machine learning. The offer available on the market covers the entire software and hardware used in clinical services as well as in analysis and diagnosis phases and solutions that support further treatment planning.

• AI in Medical Imaging Market has experienced high growth over the years driven by the growing demand for better health facilities, digital technologies and need for early and continual diagnosis of primary and chronic diseases. This is particularly the case given that AI is particularly effective in processing large volumes of imaging data and indeed, it can accomplish these tasks at a significantly faster pace and with superior precision than would a human radiologist. With size and complexity of data obtained from the different diagnostic imagery techniques continuously rising, the application of results through artificial intelligence has the potential of enhancing clinician’s work flux, lowering the number of mistakes, and most importantly: enhancing prognosis. In addition, AI technology adoption have had support both in private companies and public organizations with effort of investment put on enhancement of technology in the field of health.
• This shift to value-based healthcare models has only contributed to the continued expansion of the demand of AI into medical imaging. Such a situation calls for the invention of solutions since diseases are becoming complicated, people’s ages are rising, and pressure on service providers to offer accurate diagnosis in shorter periods with lower costs. The market is also supported by regulatory authorities for they also recognize the potential of the Artificial Intelligence – imaging solution to transform the patient’s experience. Nevertheless, factors like data privacy and protection, data ethical questions, and regulatory frameworks constitute a significant factor in the otherwise fast-growing AI implementation in imaging applications in medical diagnosis in areas that have complicated legal frameworks on data protection.

AI in Medical Imaging Market Trend Analysis

Increased Use of Deep Learning in Medical Imaging

• Another of the more obvious tendencies discernible in this sphere is the growing prevalence of deep learning in the sphere of radiology. More recently, deep learning models are demonstrating improved capability in analysing the complex data in images such as MRI and CT scans. Other advanced learning models help increase the means of pattern and anomaly detection of imaging data analysing way and thus diagnose diseases such as tumours, bone fractures, and vascular diseases at a much earlier and more accurate stage than normal. In general, this tendency is characteristic of such fields as oncology, during which accurate and timely diagnosis is vital. Furthermore, the integrated and synchronized combination of deep learning with predominantly other advanced innovations such as natural Language Processing and Computer Vision makes the prospects of AI Image based diagnostic tools even brighter

Rising Demand for AI-Powered Diagnostic Solutions in Emerging Markets

• The Extended Market of Different AI in Medical Imaging Market itself hold great potential for further growth. The nations in the Asia-Pacific, the Latin America, the Middle East are experiencing the growth in the health care as well as in digital health care because of the elevating call for health care industry and several governments are trying to augment the medical facilities and quality. Due to low access to specialized radiologists and high traffic of patients through the facilities due to increasing demand for accurate diagnosis in these countries such development of artificial intelligence in imaging solutions is required. In addition, with these regions having adopted the use of DHIs, and the inclination towards the use of affordable and easy to deploy AI-based diagnostic solutions set, the market is set to be bolstered further

AI in Medical Imaging Market Segment Analysis:

AI in the Medical Imaging Market is segmented on the basis of Modality, Application and End user.

By Modality, the compound tomography, (CT) segment is expected to dominate the market during the forecast period

• Based on modality, the compound tomography (CT) segment is anticipated to occupy the largest market share throughout the forecast period in the global AI in Medical Imaging Market. CT is employed in healthcare because in is fast, returns good results and more relevant when imaging body organs, bones, soft tissue and blood vessels. Integration with AI can make the CT imaging to provide much accurate at initial stage of diagnosis helpful in many cases like cancer, cardiac and trauma. Machine learning also enhances the quality of images while the digitization process reduces noise and makes analysis in general faster which is of advantage to radiologists who are expected to process data faster. This is especially important in emergency, as well as the trauma services where results should be available as soon as possible. The CT segment will have the biggest piece of the pie since billions of CT images are taken globally every year and AI has the capacity to improving this means

By Application, the Radiology segment expected to held the largest share

• According to the application the market is expected to grow in the radiology segment, which will represent the largest share of the AI in Medical Imaging Market. It clinically associates with a vast array of approaches to determining diseases such as X-ray, MRI, CT scan, Ultrasound among others thereby immediately making it a candidate for AI. In the radiology system, the AI technologies are fast at determining which medical images need to be in order to help speed up the pace at which the radiologists make the decisions. AI is, therefore, being incorporated in the radiator departments for activities like finding anomalies, segmenting images, and even giving prediction activities that are imperative for the surveillance of diseases. As a result, for the analysis of a large number of radiology datasets AI is able to provide high speed and high accuracy and also improve the patient’s outcomes overall, which makes this application area one of the key driving forces for the market.

AI in Medical Imaging Market Regional Insights:

North America is Expected to Dominate the Market Over the Forecast period

• This study has attributed North America as the market leader in the AI in Medical Imaging Market for the coming years due to an incredible healthcare system, higher spending trends on progressive technology, and presence of numerous players. Years have passed by and Artificial Intelligence has earned much popularity in all over the world The United States of America has acted as a factor towards the development of AI at a high rate for many hospitals and healthcare organizations AI imaging is implemented in order to diagnose and also to get the improved results of the patients. There are also many recent regulatory supports and reimbursement policies that enable the hospitals/clinics to implement such sophisticated AI solutions; notably in the North American region, good acceptance to medical imaging technologies which significantly facilitate the diagnostic work flows. Thanks to the federal drive through the numerous programs aimed at the development of innovation in the sphere of healthcare, the AI in medical imaging is gradually being introduced toward by the radiologists and other healthcare players, as they are trying to deliver the prompt and accurate results because of the increased patient volume.
• Also, North America has a relatively high prevalence of CNCDs and lifestyle-related diseases, such as cardiovascular diseases, cancer, and diabetes; those patients often need diagnostics involving diagnostic imaging. Such a demand can be met by the imaging solutions on the base of Artificial Intelligence, which make it possible to diagnose pathologies at the initial stages and choose an individual approach to the choice of treatment methods, and therefore, are additionally regarded as the essential tools of health care systems in the region. Inclusion of such a technology titan along with a number of specialized AI startups aids to give a viable competition to enhance the AI solutions meeting the demands of the healthcare profession.

Active Key Players in the AI in Medical Imaging Market

• Arterys (USA)
• Beijing Infervision Technology Co., Ltd. (China)
• Canon Medical Systems Corporation (Japan)
• CureMetrix (USA)
• Enlitic, Inc. (USA)
• GE Healthcare (USA)
• Google Health (USA)
• IBM Watson Health (USA)
• iCAD, Inc. (USA)
• Koninklijke Philips N.V. (Netherlands)
• Lunit Inc. (South Korea)
• Nanox Imaging (Israel)
• Qure.ai (India)
• Siemens Healthineers (Germany)
• Zebra Medical Vision (Israel), Other key Players

Chapter 1: Introduction
 1.1 Scope and Coverage

Chapter 2:Executive Summary

Chapter 3: Market Landscape
 3.1 Market Dynamics
  3.1.1 Drivers
  3.1.2 Restraints
  3.1.3 Opportunities
  3.1.4 Challenges
 3.2 Market Trend Analysis
 3.3 PESTLE Analysis
 3.4 Porter's Five Forces Analysis
 3.5 Industry Value Chain Analysis
 3.6 Ecosystem
 3.7 Regulatory Landscape
 3.8 Price Trend Analysis
 3.9 Patent Analysis
 3.10 Technology Evolution
 3.11 Investment Pockets
 3.12 Import-Export Analysis

Chapter 4: AI in Medical Imaging Market by Modality
 4.1 AI in Medical Imaging Market Snapshot and Growth Engine
 4.2 AI in Medical Imaging Market Overview
 4.3 Compound tomography
  4.3.1 Introduction and Market Overview
  4.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.3.3 Key Market Trends, Growth Factors and Opportunities
  4.3.4 Compound tomography: Geographic Segmentation Analysis
 4.4 MRI
  4.4.1 Introduction and Market Overview
  4.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.4.3 Key Market Trends, Growth Factors and Opportunities
  4.4.4 MRI: Geographic Segmentation Analysis
 4.5  X-ray ultrasound
  4.5.1 Introduction and Market Overview
  4.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.5.3 Key Market Trends, Growth Factors and Opportunities
  4.5.4  X-ray ultrasound: Geographic Segmentation Analysis
 4.6 Others
  4.6.1 Introduction and Market Overview
  4.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  4.6.3 Key Market Trends, Growth Factors and Opportunities
  4.6.4 Others: Geographic Segmentation Analysis

Chapter 5: AI in Medical Imaging Market by Application
 5.1 AI in Medical Imaging Market Snapshot and Growth Engine
 5.2 AI in Medical Imaging Market Overview
 5.3 Radiology
  5.3.1 Introduction and Market Overview
  5.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.3.3 Key Market Trends, Growth Factors and Opportunities
  5.3.4 Radiology: Geographic Segmentation Analysis
 5.4 Oncology
  5.4.1 Introduction and Market Overview
  5.4.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.4.3 Key Market Trends, Growth Factors and Opportunities
  5.4.4 Oncology: Geographic Segmentation Analysis
 5.5  Cardiology
  5.5.1 Introduction and Market Overview
  5.5.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.5.3 Key Market Trends, Growth Factors and Opportunities
  5.5.4  Cardiology: Geographic Segmentation Analysis
 5.6 Neurology
  5.6.1 Introduction and Market Overview
  5.6.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.6.3 Key Market Trends, Growth Factors and Opportunities
  5.6.4 Neurology: Geographic Segmentation Analysis
 5.7 Others
  5.7.1 Introduction and Market Overview
  5.7.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  5.7.3 Key Market Trends, Growth Factors and Opportunities
  5.7.4 Others: Geographic Segmentation Analysis

Chapter 6: AI in Medical Imaging Market by End User
 6.1 AI in Medical Imaging Market Snapshot and Growth Engine
 6.2 AI in Medical Imaging Market Overview
 6.3 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  6.3.1 Introduction and Market Overview
  6.3.2 Historic and Forecasted Market Size in Value USD and Volume Units (2017-2032F)
  6.3.3 Key Market Trends, Growth Factors and Opportunities
  6.3.4 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others: Geographic Segmentation Analysis

Chapter 7: Company Profiles and Competitive Analysis
 7.1 Competitive Landscape
  7.1.1 Competitive Benchmarking
  7.1.2 AI in Medical Imaging Market Share by Manufacturer (2023)
  7.1.3 Industry BCG Matrix
  7.1.4 Heat Map Analysis
  7.1.5 Mergers and Acquisitions
  
 7.2 ARTERYS (USA)
  7.2.1 Company Overview
  7.2.2 Key Executives
  7.2.3 Company Snapshot
  7.2.4 Role of the Company in the Market
  7.2.5 Sustainability and Social Responsibility
  7.2.6 Operating Business Segments
  7.2.7 Product Portfolio
  7.2.8 Business Performance
  7.2.9 Key Strategic Moves and Recent Developments
  7.2.10 SWOT Analysis
 7.3 BEIJING INFERVISION TECHNOLOGY CO LTD (CHINA)
 7.4 CANON MEDICAL SYSTEMS CORPORATION (JAPAN)
 7.5 CUREMETRIX (USA)
 7.6 ENLITIC INC (USA)
 7.7 GE HEALTHCARE (USA)
 7.8 GOOGLE HEALTH (USA)
 7.9 IBM WATSON HEALTH (USA)
 7.10 ICAD INC (USA)
 7.11 KONINKLIJKE PHILIPS N V (NETHERLANDS)
 7.12 LUNIT INC (SOUTH KOREA)
 7.13 NANOX IMAGING (ISRAEL)
 7.14 QURE AI (INDIA)
 7.15 SIEMENS HEALTHINEERS (GERMANY)
 7.16 ZEBRA MEDICAL VISION (ISRAEL)
 7.17 OTHER KEY PLAYERS

Chapter 8: Global AI in Medical Imaging Market By Region
 8.1 Overview
 8.2. North America AI in Medical Imaging Market
  8.2.1 Key Market Trends, Growth Factors and Opportunities
  8.2.2 Top Key Companies
  8.2.3 Historic and Forecasted Market Size by Segments
  8.2.4 Historic and Forecasted Market Size By Modality
  8.2.4.1 Compound tomography
  8.2.4.2 MRI
  8.2.4.3  X-ray ultrasound
  8.2.4.4 Others
  8.2.5 Historic and Forecasted Market Size By Application
  8.2.5.1 Radiology
  8.2.5.2 Oncology
  8.2.5.3  Cardiology
  8.2.5.4 Neurology
  8.2.5.5 Others
  8.2.6 Historic and Forecasted Market Size By End User
  8.2.6.1 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  8.2.7 Historic and Forecast Market Size by Country
  8.2.7.1 US
  8.2.7.2 Canada
  8.2.7.3 Mexico
 8.3. Eastern Europe AI in Medical Imaging Market
  8.3.1 Key Market Trends, Growth Factors and Opportunities
  8.3.2 Top Key Companies
  8.3.3 Historic and Forecasted Market Size by Segments
  8.3.4 Historic and Forecasted Market Size By Modality
  8.3.4.1 Compound tomography
  8.3.4.2 MRI
  8.3.4.3  X-ray ultrasound
  8.3.4.4 Others
  8.3.5 Historic and Forecasted Market Size By Application
  8.3.5.1 Radiology
  8.3.5.2 Oncology
  8.3.5.3  Cardiology
  8.3.5.4 Neurology
  8.3.5.5 Others
  8.3.6 Historic and Forecasted Market Size By End User
  8.3.6.1 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  8.3.7 Historic and Forecast Market Size by Country
  8.3.7.1 Bulgaria
  8.3.7.2 The Czech Republic
  8.3.7.3 Hungary
  8.3.7.4 Poland
  8.3.7.5 Romania
  8.3.7.6 Rest of Eastern Europe
 8.4. Western Europe AI in Medical Imaging Market
  8.4.1 Key Market Trends, Growth Factors and Opportunities
  8.4.2 Top Key Companies
  8.4.3 Historic and Forecasted Market Size by Segments
  8.4.4 Historic and Forecasted Market Size By Modality
  8.4.4.1 Compound tomography
  8.4.4.2 MRI
  8.4.4.3  X-ray ultrasound
  8.4.4.4 Others
  8.4.5 Historic and Forecasted Market Size By Application
  8.4.5.1 Radiology
  8.4.5.2 Oncology
  8.4.5.3  Cardiology
  8.4.5.4 Neurology
  8.4.5.5 Others
  8.4.6 Historic and Forecasted Market Size By End User
  8.4.6.1 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  8.4.7 Historic and Forecast Market Size by Country
  8.4.7.1 Germany
  8.4.7.2 UK
  8.4.7.3 France
  8.4.7.4 Netherlands
  8.4.7.5 Italy
  8.4.7.6 Russia
  8.4.7.7 Spain
  8.4.7.8 Rest of Western Europe
 8.5. Asia Pacific AI in Medical Imaging Market
  8.5.1 Key Market Trends, Growth Factors and Opportunities
  8.5.2 Top Key Companies
  8.5.3 Historic and Forecasted Market Size by Segments
  8.5.4 Historic and Forecasted Market Size By Modality
  8.5.4.1 Compound tomography
  8.5.4.2 MRI
  8.5.4.3  X-ray ultrasound
  8.5.4.4 Others
  8.5.5 Historic and Forecasted Market Size By Application
  8.5.5.1 Radiology
  8.5.5.2 Oncology
  8.5.5.3  Cardiology
  8.5.5.4 Neurology
  8.5.5.5 Others
  8.5.6 Historic and Forecasted Market Size By End User
  8.5.6.1 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  8.5.7 Historic and Forecast Market Size by Country
  8.5.7.1 China
  8.5.7.2 India
  8.5.7.3 Japan
  8.5.7.4 South Korea
  8.5.7.5 Malaysia
  8.5.7.6 Thailand
  8.5.7.7 Vietnam
  8.5.7.8 The Philippines
  8.5.7.9 Australia
  8.5.7.10 New Zealand
  8.5.7.11 Rest of APAC
 8.6. Middle East & Africa AI in Medical Imaging Market
  8.6.1 Key Market Trends, Growth Factors and Opportunities
  8.6.2 Top Key Companies
  8.6.3 Historic and Forecasted Market Size by Segments
  8.6.4 Historic and Forecasted Market Size By Modality
  8.6.4.1 Compound tomography
  8.6.4.2 MRI
  8.6.4.3  X-ray ultrasound
  8.6.4.4 Others
  8.6.5 Historic and Forecasted Market Size By Application
  8.6.5.1 Radiology
  8.6.5.2 Oncology
  8.6.5.3  Cardiology
  8.6.5.4 Neurology
  8.6.5.5 Others
  8.6.6 Historic and Forecasted Market Size By End User
  8.6.6.1 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  8.6.7 Historic and Forecast Market Size by Country
  8.6.7.1 Turkey
  8.6.7.2 Bahrain
  8.6.7.3 Kuwait
  8.6.7.4 Saudi Arabia
  8.6.7.5 Qatar
  8.6.7.6 UAE
  8.6.7.7 Israel
  8.6.7.8 South Africa
 8.7. South America AI in Medical Imaging Market
  8.7.1 Key Market Trends, Growth Factors and Opportunities
  8.7.2 Top Key Companies
  8.7.3 Historic and Forecasted Market Size by Segments
  8.7.4 Historic and Forecasted Market Size By Modality
  8.7.4.1 Compound tomography
  8.7.4.2 MRI
  8.7.4.3  X-ray ultrasound
  8.7.4.4 Others
  8.7.5 Historic and Forecasted Market Size By Application
  8.7.5.1 Radiology
  8.7.5.2 Oncology
  8.7.5.3  Cardiology
  8.7.5.4 Neurology
  8.7.5.5 Others
  8.7.6 Historic and Forecasted Market Size By End User
  8.7.6.1 Hospitals & Diagnostic Centres Specialty Clinics Research Institutes Others
  8.7.7 Historic and Forecast Market Size by Country
  8.7.7.1 Brazil
  8.7.7.2 Argentina
  8.7.7.3 Rest of SA

Chapter 9 Analyst Viewpoint and Conclusion
9.1 Recommendations and Concluding Analysis
9.2 Potential Market Strategies

Chapter 10 Research Methodology
10.1 Research Process
10.2 Primary Research
10.3 Secondary Research