AI in Medical Imaging Market By Solution, Technology, Modality, Application (Digital Pathology, Oncology, Cardiovascular, Neurology, Lung (Respiratory System), Breast, Live , Oral Diagnostics, Other), End-Use and Region Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional Footprints by MarketDigits - Forecast 2024-2032

Industry : Healthcare | Pages : 149 Pages | Published On : Apr 2024

         
     
The AI in Medical Imaging Market is Valued USD 982.16 million in 2024 and projected to reach USD 14,271.80 million by 2032, growing at a CAGR of 37.8% During the Forecast period of 2024-2032.

AI in Medical Imaging Market Size


Graph
             2020                         2024-2032      

ReportDetails
Market Size ValueUSD 982.16 million in 2024
Market Size ValueUSD 14,271.80 million by 2032
CAGR37.8%
Forecast Period2024-2032
Base Year 2023
Historic Data2020

Major vendors in the global AI in Medical Imaging Market: 1QB Information Technology, Agfa-Gevaert Group/Agfa HealthCare, Arterys, AZmed, Butterfly Network, Caption Health, Cellmati, dentalXrai, Digital Diagnostics, EchoNous, GLEAMER, HeartVista, iCAD, Lunit, Mediaire, MEDO, Nanox Imaging, Paige AI, Perimeter Medical Imaging AI, Predible Health, QLARITY IMAGING, Quantib, Quibim, Qure.ai, Renalytix, Therapixel, Ultromics, Viz.ai, VUNO and Others.

Global AI in Medical Imaging Market Report Scope:

Market Overview

The global market for Artificial Intelligence (AI) in medical imaging is expanding, driven by the widespread adoption of AI technology across various facets of medical imaging. This market involves the integration of AI algorithms and techniques into diverse medical imaging systems, including X-ray, MRI, CT scans, ultrasound, and others. These AI-powered solutions aim to improve the accuracy, efficiency, and diagnostic capabilities of medical imaging, ultimately enhancing patient care and outcomes.

Several factors contribute to the growth of this industry, such as the increasing demand for precise diagnostic tools, the prevalence of chronic diseases, and the need for personalized therapy. AI in medical imaging has the potential to streamline workflow procedures, facilitate early disease detection, and assist in treatment planning by rapidly analyzing vast amounts of medical data. This technology empowers radiologists and other healthcare professionals to make informed decisions, leading to improved patient care and reduced costs.

The availability of extensive datasets, coupled with advancements in AI algorithms and deep learning techniques, is propelling the rapid expansion of this sector. Machine learning algorithms and neural networks are being developed to analyze medical images and extract relevant data, enabling automated and accurate interpretations. The integration of AI in medical imaging systems is anticipated to address the shortage of qualified radiologists in certain areas, as it aids in image interpretation and provides valuable decision support.

The escalating demand for accurate and effective diagnostic tools is a primary driver propelling the growth of the AI in Medical Imaging market. As healthcare providers and patients alike seek improved diagnostic capabilities, AI technologies offer a promising solution. These advanced algorithms can analyze medical images with unprecedented precision, aiding in the early detection and diagnosis of various conditions. The need for more reliable and efficient diagnostic tools, especially in fields like radiology, has prompted the integration of AI into medical imaging systems, encompassing modalities such as X-ray, MRI, CT scans, and ultrasound. By providing enhanced diagnostic accuracy, AI in medical imaging not only facilitates more effective patient care but also contributes to better treatment planning and outcomes.

Prevalence of Chronic Diseases and Personalized Therapy and Treatment Planning

The rising prevalence of chronic diseases worldwide is a significant factor driving the adoption of AI in medical imaging. Conditions such as cancer, cardiovascular diseases, and neurological disorders often require extensive and detailed imaging for accurate diagnosis and treatment planning. AI technologies offer the capability to handle vast amounts of medical data quickly and efficiently, assisting healthcare professionals in the interpretation of complex images. Through automated analysis, AI can detect subtle patterns and anomalies in medical images, aiding in the early identification of chronic diseases. This early detection not only improves patient outcomes but also allows for timely and targeted interventions, reducing the overall burden of chronic illnesses on healthcare systems.

Also, the shift towards personalized therapy and treatment planning is another influential factor in the adoption of AI in medical imaging. As the healthcare industry increasingly emphasizes personalized medicine, there is a growing need for tailored diagnostic approaches. AI technologies excel in processing individual patient data to create personalized treatment plans. By analyzing medical images in a nuanced manner, AI algorithms contribute to the identification of patient-specific characteristics and variations. This enables healthcare professionals to design treatment strategies that consider the unique aspects of each patient's condition. The integration of AI in medical imaging not only enhances the precision of treatment planning but also aligns with the broader trend towards more patient-centric healthcare, ultimately improving the quality of medical care and outcomes.

Market Dynamics

Drivers:

  • Advancements in AI Algorithms and Deep Learning
  • Massive Datasets for Training and Validation
  • Addressing the Shortage of Qualified Radiologists
  • Improved Diagnostic Capabilities and Decision Support

Opportunities:

  • Integration of AI with Imaging Modalities
  • Expansion of Telemedicine and Remote Imaging
  • Personalized Medicine and Tailored Treatment Plans
  • Emergence of Wearable Medical Devices

Based on Application, the Global API Security Market is dominated by the Digital Pathology segment.

Based on Application, The digital pathology segment dominates the market, primarily due to the heightened productivity of pathologists. Digital pathology serves as a validation tool for image analytics, enabling pathologists to process a higher number of slides in less time. This not only increases efficiency but also facilitates early identification of illnesses, leading to prompt initiation of therapy. The integration of AI and digital pathology aids doctors in making patient-centered decisions. The oncology market is gaining popularity, driven by growing awareness of cancer and its increased incidence. Artificial intelligence algorithms play a crucial role in enabling personalized therapy by identifying and comprehending the nature of malignancies. The second section of the market focuses on AI-driven diagnostic imaging for the heart, brain, breast, and mouth.

The market for AI in Medical Imaging Market is dominated by North America.

North America holds a substantial share in the AI in medical imaging market, characterized by a well-established healthcare infrastructure, advanced research and development capabilities, and significant investments in medical technologies. The presence of major market players and academic institutions actively contributing to AI innovation plays a pivotal role in the region's market growth. Favorable government initiatives, such as increased funding for research and development in both healthcare and AI, further propel the market's expansion in this region. Moreover, the Asia-Pacific region emerges as a key growth area for the AI in medical imaging market, with rapidly developing economies such as China, India, and Japan witnessing increased healthcare expenditure, technological advancements, and a rising demand for advanced medical imaging solutions. The region demonstrates a growing focus on AI integration in healthcare to address challenges and enhance patient care. Collaborations between regional governments, healthcare institutions, and AI technology providers further drive the adoption of AI in the medical imaging market in the Asia-Pacific region.

Major Segmentations Are Distributed as follows:

  • By Solution
    • Software Tools/Platforms
    • Services
  • By Technology
    • Deep learning
    • Computer Vision
    • Others
  • By Modality
    • X-ray
    • Computed Tomography (CT)
    • Magnetic Resonance Imaging
    • Ultrasound Imaging
    • Molecular Imaging
  • By Application
    • Digital Pathology
    • Oncology
    • Cardiovascular
    • Neurology
    • Lung (Respiratory System)
    • Breast (Mammography)
    • Liver (GI)
    • Oral Diagnostics
    • Other
  • End-Use
    • Hospitals and Clinics
    • Research Laboratories and Diagnostic Centers
    • Others
  • By Region
    • North America
      • US
      • Canada
    • Latin America
      • Brazil
      • Mexico
      • Argentina
      • Colombia
      • Chile
      • Peru
      • Rest of Latin America
    • Europe
      • Germany
      • France
      • Italy
      • Spain
      • U.K.
      • BENELUX
      • CIS & Russia
      • Nordics
      • Austria
      • Poland
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • South Korea
      • India
      • Thailand
      • Indonesia
      • Malaysia
      • Vietnam
      • Australia & New Zealand
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • South Africa
      • Nigeria
      • Egypt
      • Israel
      • Turkey
      • Rest of MEA

Recent Developments

  • In February 2023, Bayer AG completed the acquisition of Blackford Analysis Ltd., a company specializing in providing medical imaging AI platforms and solutions. This acquisition is expected to significantly contribute to Bayer's efforts in promoting innovation in the field of radiology. It specifically supports the integration and effective utilization of AI technology within clinical workflows.
  • February 2023, Qure.ai Technologies Private Limited, a company specializing in medical artificial intelligence (AI) imaging, forged a partnership with Therapixel SA, a provider of AI solutions for medical imaging. This collaboration empowers Qure.ai to globally distribute Therapixel's MammoScreen, an AI-driven decision support tool designed for breast cancer screening.

Answers to Following Key Questions:

  • What will be the AI in Medical Imaging Market’s trends & growth rate? What analysis has been done of the prices, sales, and volume of the top producers of AI in Medical Imaging Market?
  • What are the main forces behind worldwide AI in Medical Imaging Market? Which companies dominate AI in Medical Imaging Market?
  • Which companies dominate AI in Medical Imaging Market? Which business possibilities, dangers, and tactics did they embrace in the market?
  • What are the AI in Medical Imagingindustry's suppliers' opportunities and dangers in AI in Medical Imaging Market?
  • What is the AI in Medical Imaging industry's regional sales, income, and pricing analysis? In the AI in Medical Imaging Market, who are the distributors, traders, and resellers?
  • What are the main geographic areas for various trades that are anticipated to have astounding expansion over the AI in Medical Imaging Market?
  • What are the main geographical areas for various industries that are anticipated to observe astounding expansion for AI in Medical Imaging Market?
  • What are the dominant revenue-generating regions for AI in Medical Imaging Market, as well as regional growth trends?
  • By the end of the forecast period, what will the market size and growth rate be?
  • What are the main AI in Medical Imaging Market trends that are influencing the market's expansion?
  • Which key product categories dominate AI in Medical Imaging Market? What is AI in Medical Imaging Market’s main applications?
  • In the coming years, which AI in Medical Imaging Market technology will dominate the market?

Reason to purchase this AI in Medical Imaging Market Report:

  • Determine prospective investment areas based on a detailed trend analysis of the global AI in Medical Imaging Market over the next years.
  • Gain an in-depth understanding of the underlying factors driving demand for different AI in Medical Imaging Market segments in the top spending countries across the world and identify the opportunities each offers.
  • Strengthen your understanding of the market in terms of demand drivers, industry trends, and the latest technological developments, among others.
  • Identify the major channels that are driving the global AI in Medical Imaging Market, providing a clear picture of future opportunities that can be tapped, resulting in revenue expansion.
  • Channelize resources by focusing on the ongoing programs that are being undertaken by the different countries within the global AI in Medical Imaging Market.
  • Make correct business decisions based on a thorough analysis of the total competitive landscape of the sector with detailed profiles of the top AI in Medical Imaging Market providers worldwide, including information about their products, alliances, recent contract wins, and financial analysis wherever available.

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Table and Figures

Methodology:

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This methodology is built upon the integration of all seven research methodologies developed by MarketDigits, a renowned global research and consulting firm. By leveraging the collective strength of these methodologies, we are able to deliver a 360° view of the challenges, trends, and issues impacting your industry.

The first step of our 360° Research Methodology™ involves conducting extensive primary research, which involves gathering first-hand information through interviews, surveys, and interactions with industry experts, key stakeholders, and market participants. This approach enables us to gather valuable insights and perspectives directly from the source.

Secondary research is another crucial component of our methodology. It involves a deep dive into various data sources, including industry reports, market databases, scholarly articles, and regulatory documents. This helps us gather a wide range of information, validate findings, and provide a comprehensive understanding of the industry landscape.

Furthermore, our methodology incorporates technology-based research techniques, such as data mining, text analytics, and predictive modelling, to uncover hidden patterns, correlations, and trends within the data. This data-driven approach enhances the accuracy and reliability of our analysis, enabling us to make informed and actionable recommendations.

In addition, our analysts bring their industry expertise and domain knowledge to bear on the research process. Their deep understanding of market dynamics, emerging trends, and future prospects allows for insightful interpretation of the data and identification of strategic opportunities.

To ensure the highest level of quality and reliability, our research process undergoes rigorous validation and verification. This includes cross-referencing and triangulation of data from multiple sources, as well as peer reviews and expert consultations.

The result of our 360° Research Methodology is a comprehensive and robust research report that empowers you to make well-informed business decisions. It provides a panoramic view of the industry landscape, helping you navigate challenges, seize opportunities, and stay ahead of the competition.

In summary, our 360° Research Methodology is designed to provide you with a deep understanding of your industry by integrating various research techniques, industry expertise, and data-driven analysis. It ensures that every business decision you make is based on a well-triangulated and comprehensive research experience.

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