AI in Medical Imaging Market Set to Reach USD 23.65 billion by 2032 | AI’s Role in Enhancing Medical Imaging

The AI in Medical Imaging Market accelerates diagnostic precision and workflow efficiency, driving global healthcare innovation and adoption. AUSTIN, TX, UNITED STATES, November 8, 2024 /EINPresswire.com/ -- The AI in Medical Imaging Market was valued at USD 1.76 billion in 2023 and is projected to reach USD 23.65 billion by 2032, growing at a robust CAGR of 33.48% over the forecast period of 2024-2032.

The Growing Impact of AI in Medical Imaging for Improved Diagnostics and Efficiency

The demand for AI in medical imaging has increased significantly across the globe attributing to heightened adoption of artificial intelligence within the imaging techniques to augment diagnostic accuracy, efficacy and expediency. MRIs and CT scans AI technologies especially machine learning and deep learning are widely being used in recent times to analyse medical imaging data. They enable radiologists and clinicians to identify abnormalities and diseases in less time and with greater accuracy, reducing human errors and the diagnoses turnaround time.

Some of the leading factors strengthening the position of AI in medical imaging market are increasing demand for early disease diagnosis specifically for cancer, cardiovascular disease and neurological disorders. No doubt, AI plays an important role here; it can help improves diagnosis by identifying things that humans may miss which will ultimately save lives! In addition, AI systems are beginning to also be a part of the medical infrastructure for healthcare systems and will help automate current workflows leading to better packet care. These tools allow radiologists to streamline their workflows and spend less time performing ordinary tasks; As a result, they are able to dedicate more time to handling complex cases that require greater expertise.

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Leading Players:
➢GE HealthCare- Edison Platform
➢Canon Medical Systems USA, Inc.-Aplio i-series
➢Microsoft-Azure Machine Learning
➢Digital Diagnostics Inc.-Iris AI
➢TEMPUS-Tempus Labs
➢Butterfly Network, Inc.-Butterfly iQ
➢HeartFlow, Inc.-HeartFlow FFRct
➢Enlitic, Inc.-Enlitic Deep Learning Platform
➢ai, Inc.-Viz Stroke
➢EchoNous, Inc.-EchoNous Vein and EchoNous Bladder
➢HeartVista, Inc.-HeartVista MRI platform
➢Exo Imaging, Inc.-Exo ultrasound system
➢Nano-X Imaging Ltd.-Nano-X imaging system

Segment Analysis:

By Technology Deep Learning Segment Dominated the Market

The deep learning segment dominated the AI in medical imaging market, accounted for 57.9% of the total market share. The deep learning is a powerhouse that analyses large volumes of medical imaging data. AI can reveal complex imaging features which the human eye may see but are often ignored in routine procedures and protocols. The more data ML algorithms process, the better they become, providing even higher chances of accuracy. In addition, now these technologies are integrated into most medical imaging platforms including MRI, CT scans and radiology imaging to enable health professionals to deliver faster and accurate diagnosis.

By Application Neurology Segment Shows Strong Growth Potential

In 2023, the neurology application segment dominated the market. The rapid growth can be credited to the provision of AI-based technologies to make diagnosing neurological conditions including brain tumours, Alzheimer’s disease, and stroke easier & monitoring them more effectively. AI tools are playing a pivotal role in improving diagnostic accuracy of neurological disorders, enabling doctors to make effective assessment and treatment plans. This segment is projected to witness the highest growth over the forecast period owing to increasing demand for advanced imaging solutions in neurology.

By Technology
➢Deep Learning
➢Natural Language Processing (NLP)
➢Others

By Application
➢Neurology
➢Respiratory and Pulmonary
➢Cardiology
➢Breast Screening
➢Orthopedics
➢Others

By Modalities
➢CT Scan
➢MRI
➢X-rays
➢Ultrasound
➢Nuclear Imaging

By End-Use
➢Hospitals
➢Diagnostic Imaging Centers
➢Others

Key Regional Developments

In 2023, North America dominated the AI in medical imaging market, accounted for 43% of total revenue. The U.S. leads in AI healthcare innovation, supported by significant R&D investments and regulatory backing. Collaborative efforts between healthcare providers and tech firms are accelerating the adoption of AI-powered diagnostic tools, particularly for early disease detection, including cancer.

Europe is also experiencing strong growth, driven by research initiatives like CERN and Horizon 2020. Regulatory approvals for advanced technologies in the EU are now clearly outlined by the Medical Device Regulation (MDR), providing a solid framework for market innovation. The UK, as the next notable global player, benefits from programs at government level such as the AI Sector Deal and NHS support. China and Japan are predicted to grow rapidly in the Asia-Pacific region as government investments in AI surge and strength in the development of advanced imaging solutions is seen by many companies (Fujifilm, Canon). New technologies are also expanding the regional market space, which is driven by smaller innovators such as NOVIUS with its N-Vision 3D.

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Recent Developments
➢GE HealthCare: In January 2024, MIM Software, a Cleveland-based leader in medical imaging analysis and AI solutions, was acquired by GE HealthCare. The new GE HealthCare now adds MIM Software's imaging analytics and digital workflow technologies into GE HealthCare's portfolio. The acquisition will enhance GE’s capabilities in multiple care areas, including molecular radiotherapy, radiation oncology, urology, and diagnostic imaging, furthering the company's mission to improve patient outcomes and optimize healthcare systems worldwide.
➢Canon Medical Systems: In November 2023, Canon Medical Systems has released two new and advanced versions of its previously existing computed tomography (CT) scanners based on the heard-of Aquilion CT platform. These new scanners utilise AI algorithms to optimise images and scan workflows. This is a notable advancement in the field of CT imaging that promises to enhance the accuracy of diagnosis and streamline the workflow for healthcare professionals.

Table of Contents – Major Key Points

1. Introduction
1.1 Market Definition
1.2 Scope (Inclusion and Exclusions)
1.3 Research Assumptions

2. Executive Summary
2.1 Market Overview
2.2 Regional Synopsis
2.3 Competitive Summary

3. Research Methodology
3.1 Top-Down Approach
3.2 Bottom-up Approach
3.3. Data Validation
3.4 Primary Interviews

4. Market Dynamics Impact Analysis
4.1 Market Driving Factors Analysis
4.2 PESTLE Analysis
4.3 Porter’s Five Forces Model

5. Statistical Insights and Trends Reporting
5.1 Adoption Rates, 2023
5.2 User Demographics, By User Type and Roles, 2023
5.3 Feature Analysis, by Feature Type
5.4 Cost Analysis, by Modalities
5.5 Integration Capabilities
5.6 Regulatory Compliance, by Region

6. Competitive Landscape
6.1 List of Major Companies, By Region
6.2 Market Share Analysis, By Region
6.3 Product Benchmarking
6.4 Strategic Initiatives
6.5 Technological Advancements
6.6 Market Positioning and Branding

7. AI In Medical Imaging Market Segmentation, by Technology

8. AI In Medical Imaging Market Segmentation, By Application

9. AI In Medical Imaging Market Segmentation, by Modalities

10. AI In Medical Imaging Market Segmentation, By End-Use

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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