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How Does The Market Size Of The Artificial Intelligence in Medical Imaging Industry Compare Between 2025 And 2029?
The artificial intelligence in medical imaging market has demonstrated substantial expansion in recent times. This market is set to increase from $3.42 billion in 2024 to $4.44 billion in 2025, progressing at a compound annual growth rate (CAGR) of 29.9%. The market’s development over the past period is largely due to factors such as a heightened demand for AI-powered CT, an increase in cancer cases, greater integration of cloud computing, an aging global population, and the introduction of beneficial government programs.
The market for artificial intelligence in medical imaging is projected to experience rapid expansion over the coming years. This market is anticipated to reach a valuation of $13.11 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 31.1%. Factors contributing to this growth during the projected period include a heightened focus on reducing the burden on radiologists, an expanding elderly population, increased investment, a surging need for processing extensive and intricate datasets, and a rising adoption of AI-enhanced CT scans. Key trends expected in this timeframe encompass the application of computer vision techniques to allow AI algorithms to analyze medical images, continuous technological advancements in deep learning, and significant product innovations, particularly in areas like nuclear medicine, ultrasound systems, and magnetic resonance imaging.
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Which Factors And Drivers Are Influencing The Artificial Intelligence in Medical Imaging Market In 2025?
An anticipated expansion in imaging modalities is set to fuel the advancement of AI within the medical imaging market in the future. These modalities encompass various medical imaging methods employed to visualize the human body for both diagnostic and therapeutic objectives. Within medical modalities, AI algorithms play a crucial role by aiding in image reconstruction, minimizing noise, and correcting artifacts, thereby producing clearer and more precise CT images. As an illustration, the National Health Service, a UK-based government department, reported in July 2022 that 43.3 million imaging tests were conducted in England during the 12-month period from April 2021 to March 2022. Additionally, approximately 3.67 million imaging tests were documented as having occurred in March 2022 alone. Consequently, the expansion of imaging modalities is serving as a catalyst for the growth of AI in the medical imaging market.
What Are The Major Segment Types Covered In The Artificial Intelligence in Medical Imaging Market?
The artificial intelligence in medical imagingmarket covered in this report is segmented –
1) By Modality: Computed Tomography (CT) Scan; Magnetic Resonance Imaging (MRI); X-rays; Ultrasound; Nuclear Imaging
2) By Technology: Deep Learning; Natural Language Processing (NLP); Other Technologies
3) By Application: Neurology; Respiratory And Pulmonary; Cardiology; Breast Screening; Orthopedics
4) By End-Use: Hospitals; Diagnostic Imaging Centers; Other End-Users
Subsegments:
1) By Computed Tomography (CT) Scan: Cardiac CT; CT Angiography; Lung CT; Abdominal CT; Head CT
2) By Magnetic Resonance Imaging (MRI): Brain MRI; Spine MRI; Musculoskeletal MRI; Abdominal MRI; Functional MRI
3) By X-rays: Chest X-rays; Dental X-rays; Mammography; Bone X-rays; Fluoroscopy
4) By Ultrasound: Abdominal Ultrasound; Cardiac Ultrasound; Obstetric And Gynecological Ultrasound; Vascular Ultrasound; Musculoskeletal Ultrasound
5) By Nuclear Imaging: Positron Emission Tomography (PET); Single Photon Emission Computed Tomography (SPECT); Bone Scans; Thyroid Scans; Cardiac Scans
What Are The Major Trends Driving The Growth Of The Artificial Intelligence in Medical Imaging Market?
Leading companies active in the AI in the medical imaging market are developing innovative products, such as MRI systems equipped with AI, to enhance patient services. An AI-enabled MRI system refers to a standard Magnetic Resonance Imaging (MRI) machine integrated with artificial intelligence (AI) technology. For instance, in December 2023, GE Healthcare, a US-based medical technology firm, introduced SIGNA Champion, an MRI system leveraging AI. SIGNA Champion is designed to deliver several AI-driven workflow features like AIR Recon DL and Sonic DL, which support efficiency and provide excellent image quality for users across all experience levels. A distinctive aspect of SIGNA Champion is its combination of generous patient clearance within the bore and quick scan times.
Which Key Players Are Driving Competition In The Artificial Intelligence in Medical Imaging Market?
Major companies operating in the artificial intelligence in medical imaging market report are Google LLC, Microsoft Corporation, IBM Watson Health, Intel Corporation, NVIDIA Corporation, Siemens Healthineers, Koninklijke Philips N.V, GE Healthcare, Agfa-Gevaert Group/Agfa HealthCare, Aidoc Medical, Arterys Inc., Lunit Inc., Butterfly Network Inc., Digital Diagnostics Inc., Caption Health Inc., EchoNous Inc., Covera Health Inc., Nanox Imaging LTD., AZmed, InformAI LLC, Avicenna AI, ImageBiopsy Lab, Nucleai, Icometrix NV., Gleamer
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Which Region Is Expected To Witness The Fastest Growth In The Artificial Intelligence in Medical Imaging Market?
North America was the largest region in the AI in medical imaging market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the artificial intelligence in medical imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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