What Is The Long-Term Forecast For The Global Artificial Intelligence in Medical Imaging Market Growing At 31.1% CAGR?
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What Is The Predicted Market Size Of The Artificial Intelligence in Medical Imaging Industry By 2029?
The market size of artificial intelligence in medical imaging has seen substantial expansion in the past few years. The projections show an increase from $3.42 billion in 2024, to an impressive $4.44 billion in 2025, representing a compound annual growth rate (CAGR) of 29.9%. Factors contributing to the growth during this historic period include an increased demand for AI-enhanced CT scans, frequency in cancer diagnoses, a surge in cloud computing adoption, a larger aging population, and the introduction of beneficial government schemes.
The market for artificial intelligence in medical imaging is anticipated to witness remarkable growth in the forthcoming years, expanding to a striking $13.11 billion by 2029 at a CAGR of 31.1%. Factors contributing to the projected growth comprise of efforts to reduce radiologists’ burden, an aging population, increased investments, and growing requirements for large and complex data processing, along with surging demand for AI-integrated CT. Key trends for this period are anticipated to include the use of computer vision techniques to empower AI algorithms in analyzing medical images, advancements in deep learning technology, innovative products such as nuclear medicine, and developments in technologies like ultrasound systems and magnetic resonance imaging product innovation.
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Which Factors Are Steering Growth In The Artificial Intelligence in Medical Imaging Market?
The advancement in imaging modalities is projected to stimulate the growth of AI within the medical imaging market. These modalities are various medical imaging techniques utilized for the visualization of the body for both diagnostic and treatment purposes. AI algorithms play a significant role in these modalities by aiding in image reconstruction, reducing noise, and correcting artifacts, which results in clearer and more accurate CT images. For example, the National Health Service, a UK-government department, reported in July 2022 that roughly 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 conducted in March 2022 alone. Consequently, the expansion of imaging modality is boosting the growth of AI in the medical imaging market.
Which Segment Accounts For The Largest Share 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
Which Disruptive Trends Are Driving Change Across The Artificial Intelligence in Medical Imaging Market?
Leading organizations in the AI in the medical imaging market are introducing groundbreaking products such as AI-integrated MRI systems to enhance patient care. An MRI system enabled with artificial intelligence technology essentially improves a conventional Magnetic Resonance Imaging machine. For example, in December 2023, GE Healthcare, a medical technology firm based in the United States, unveiled SIGNA Champion, an MRI system equipped with AI capabilities. SIGNA Champion is engineered to provide a range of AI-integrated workflow features, including AIR Recon DL and Sonic DL, aiming to improve efficiency and promote superb image quality for users across all skill levels. SIGNA Champion distinguishes itself by its large patient allowance inside the bore and short scanning durations.
Who Are The Dominant Players In The Artificial Intelligence in Medical Imaging Market Today?
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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What Regional Factors Are Accelerating 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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