Artificial Intelligence In Radiology Market Trends 2025-2034: Growth, Strategic Insights, and Opportunities Ahead
2025 Market Reports Update: Market Size Forecasts to 2034, Key Trends, Leading Players, and Top Regions – Get Ahead of the Competition Today!
What Industry-Specific Factors Are Fueling the Growth of the Artificial Intelligence In Radiology Market?
The adoption of artificial intelligence (AI) in healthcare is anticipated to boost the expansion of AI in the radiology sector in the future. The impressive capacity of AI-based algorithms to accurately analyze and decode medical images aids radiologists in identifying minor irregularities, enhancing the overall diagnostic results. The speed and effectiveness provided by AI technologies not only make radiological procedures more efficient but also lead to quicker and precise diagnoses. For example, the Health Foundation, a UK-based independent charity, reported in July 2024 that over half of the UK public (54%) and nearly three-fourths of NHS staff surveyed (76%) supported the utilization of AI in patient care, with a larger percentage advocating for its administrative task application (61% of the public and 81% of NHS staff). Consequently, the increasing use of AI in healthcare is stimulating the expansion of AI in the radiology industry.
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#What is the Projected CAGR for the Artificial Intelligence In Radiology Market Size from 2025 to 2034?
The radiology market for artificial intelligence has seen rapid expansion in the recent past. Its growth is projected to increase from $2.2 billion in 2024 to $2.86 billion in 2025, flaunting a compound annual growth rate (CAGR) of 30.2%. Factors that have encouraged growth in the historical period include heightened medical imaging data production, the emergence of deep learning algorithms, the need for better diagnostic precision, and the establishment of regulatory approvals and standards. Additionally, a focus on cost-effectiveness and enhancement of workflow also contributed to this growth.
It is anticipated that the market size for artificial intelligence in radiology will experience substantial growth in the coming years. This market is projected to expand to a size of $8.23 billion by 2029, exhibiting a compound annual growth rate (CAGR) of 30.3%. Factors contributing to this expected growth during the forecast period include ongoing improvements in AI algorithms, its integration with electronic health records (EHRs), extended usage of AI applications beyond diagnosis, the enhancement of images through AI, and improved interoperability and data sharing. The forecast period is also expected to see significant trends such as remote healthcare and telemedicine, partnerships between tech and healthcare companies, advancements in imaging technology, quantitative image analytics, and automated report production.
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What Key Market Trends and Innovations Are Shaping the Future of theArtificial Intelligence In Radiology Industry?
Prominent corporations in the AI in radiology arena are debuting products like suites in a bid to expand their market gains. An AI-supported radiology suite comprises a unified system that employs artificial intelligence to boost diagnostic aptitudes and streamline procedures in medical imaging, thus heightening precision and productivity. Take for example, in November 2022, Viz.ai Inc., an American healthcare software service company, unveiled the Viz radiology suite. This advanced suite merges sophisticated FDA-authorized algorithms for fast analysis of various medical imaging data like CT scans, EKGs, and echocardiograms. This all-inclusive AI-backed care coordination product offers not only real-time insights but also automates evaluations, speeding up the diagnostic and remedial processes. In essence, this cutting-edge solution aids in enhancing patient results by fast-tracking the diagnostic and treatment process.
Which Companies Are Leading the Charge in Expanding theArtificial Intelligence In Radiology Market Growth?
Major companies operating in the artificial intelligence in radiology market report are Microsoft Corporation, IBM Corporation, NVIDIA Corporation, Siemens Healthineers AG, Koninklijke Philips N.V, GE Healthcare Technologies Inc., Canon Medical Systems Corporation, HeartFlow Inc., Viz.ai Inc., Aidoc Medical Ltd., EnvoyAI, Butterfly Network Inc., Digital Diagnostics Inc., Caption Health, Day Zero Diagnostics Inc., Enlitic Inc., Arterys, Nano X Imaging Ltd., Subtle Medical Inc., CureMetrix Inc., AliveCor Inc., DiA Imaging Analysis Ltd., Freenome Holdings Inc., Imagen Technologies, Gleamer Ltd., Quibim, Behold.ai, Gauss Surgical Inc., 3D Systems, InformAI LLC, Intel Corporation
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How is the Global Artificial Intelligence In Radiology Market Segemented?
The artificial intelligence in radiology market covered in this report is segmented –
1) By Solution Type: AI Software, AI Hardware
2) By Modality: Computed Tomography (CT), Magnetic Resonance (MR), X-Ray, Mammography, Ultrasound (US), Other Modalities
3) By Application: Neurology, Chest And Lung, Musculoskeletal, Abdomen, Cardiology, Other Applications
4) By End-User: Hospitals, Diagnostic Imaging Centers, Other End-Users
Subsegments:
1) By AI Software: Image Analysis Software, Workflow Optimization Software, Radiology Reporting Software, Decision Support Systems, Predictive Analytics Tools
2) By AI Hardware: Imaging Devices, Servers And Computing Infrastructure, Robotics For Automated Imaging, Workstations For Radiologists, Wearable Devices For Patient Monitoring
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Which Geographics are Influencing the Growth of the Artificial Intelligence In Radiology Market?
North America was the largest region in the artificial intelligence in radiology market in 2024. The regions covered in the artificial intelligence in radiology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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