Artificial Intelligence in Medical Imaging Market Analysis: Key Insights on Growth Rates, Trends, and Major Opportunities
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What CAGR Will the Artificial Intelligence in Medical Imaging Market Achieve During 2025–2034, and What Does It Indicate?
The market size for artificial intelligence in medical imaging has seen a significant rise in the past few years. It is projected to increase from $3.42 billion in 2024 to $4.46 billion in 2025, showcasing a compound annual growth rate (CAGR) of 30.4%. The historic expansion can be credited to the growing demand for AI-integrated CT, a surge in cancer prevalence, the increased usage of cloud computing, a rising elderly population, and the application of supportive government policies.
In the upcoming years, the market size of artificial intelligence in medical imaging is projected to undergo substantial growth, predicted to reach $13.16 billion in 2029 at a 31.1% compound annual growth rate (CAGR). Factors contributing to this growth during the forecast period include a heightened focus on reducing the workload of radiologists, an aging population, increasing investment, the necessity to manage large and complex data sets, and a growing demand for AI-enabled CT. Key trends for this period are the use of computer vision techniques which allow AI algorithms to scrutinize medical images, advancements in deep learning technology, and product innovations in areas like nuclear medicine and technology such as ultrasound systems and magnetic resonance imaging product innovation.
What Key Drivers Are Accelerating the Growth of the artificial intelligence in medical imaging Market During the Forecast Period?
The expansion of imaging modalities is predicted to fuel the progression of AI within the medical imaging market. Imaging modalities, which are varying medical imaging methods utilized for both diagnostic and therapeutic purposes, play a significant role in visualizing the body. When incorporated with AI algorithms, these modalities aid in image reconstruction, reducing noise, and correcting artifacts, thereby enhancing the clarity and accuracy of CT images. For example, the National Health Service, a governmental department in the UK, reported in July 2022 that from April 2021 through to March 2022, England recorded 43.3 million imaging tests. Furthermore, about 3.67 million imaging tests were carried out in March 2022 alone. Hence, the escalating utilization of imaging modalities is directing the momentum of AI development in the medical imaging market.
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Who Are the Key Firms Paving the Way for Growth in the Artificial Intelligence in Medical Imaging Market?
Major companies operating in the artificial intelligence in medical imaging market report are:
• Google LLC_x000D_
• Microsoft Corporation_x000D_
• IBM Watson Health_x000D_
• Intel Corporation_x000D_
• NVIDIA Corporation_x000D_
What Are the Most Influential Trends Currently Shaping the Artificial Intelligence in Medical Imaging Market?
Top firms in the AI in the medical imaging market are innovating with products such as AI-integrated MRI machines to enhance patient service. An AI-integrated MRI system essentially combines a traditional Magnetic Resonance Imaging (MRI) machine with artificial intelligence (AI) features. For instance, in December 2023, US medical technology firm GE Healthcare introduced SIGNA Champion, an MRI system with AI capability. SIGNA Champion boasts various AI-integrated workflow characteristics such as AIR Recon DL and Sonic DL, promoting efficiency and delivering superior image quality for users at all expertise levels. SIGNA Champion uniquely blends ample patient clearance inside the bore with brief scanning periods.
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Which Segments Play a Crucial Role in the Expansion of the Artificial Intelligence in Medical Imaging Market?
The artificial intelligence in medical imaging market 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
Which Regions Are Essential for the Growth of 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.
How Is the Scope and Reach of the Artificial Intelligence in Medical Imaging Market Defined?
Artificial intelligence (AI) in medical imaging refers to the use of artificial intelligence algorithms to analyze medical images and provide quantitative assessments of radiographic characteristics. AI can help automatically identify and categorize pulmonary nodules as benign or malignant, which is lifesaving in many patients. AI can also be used to make diagnostic predictions for brain tumors and automate radiation treatment planning.
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