Richmond, Jan. 18, 2024 (GLOBE NEWSWIRE) -- According to a research report "AI in Medical Imaging Market”, By Solution (Software Tools/Platforms, Services), Technology (Deep learning, Computer Vision, Others), Modality, Application (Digital Pathology, Oncology, Cardiovascular, Neurology, Lung (Respiratory System), Breast (Mammography), Liver (GI), Oral Diagnostics, Other), End-Use and Region - Global Forecast to 2030.
Global AI in Medical Imaging Market Report Scope:
| Report | Details |
| Market size value in 2023 | USD 1.9 Billion |
| Market size value in 2030 | USD 17.9 Billion |
| CAGR (2023-2030) | 37.8% |
| Forecast Period | 2023–2030 |
| Historic Data | 2019 |
| Forecast Units | Value (USD Million/USD Billion) |
| Segments Covered | Solution, Technology, Application ,Modality, End-Use and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and RoW |
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| Sample of Companies Covered |
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TOC Covers in Depth & Breath on AI in Medical Imaging Market
170 - Market Data Tables
65 - List of Figures
225 – Pages
The report includes Vendor Assessment (Company Profiles, Market Positioning, Strategies, Recent Developments, Capabilities & Product Offerings / Mapping), Technology Assessment (Developments & Economic Impact), Partner & Customer Ecosystem (Product Services, Proposition & Key Features) Competitive Index & Regional FootPrint by MarketDigits.
Market Overview
The global market for Artificial Intelligence (AI) in medical imaging is expanding, driven by the widespread adoption of AI technology across various facets of medical imaging. This market involves the integration of AI algorithms and techniques into diverse medical imaging systems, including X-ray, MRI, CT scans, ultrasound, and others. These AI-powered solutions aim to improve the accuracy, efficiency, and diagnostic capabilities of medical imaging, ultimately enhancing patient care and outcomes.
Several factors contribute to the growth of this industry, such as the increasing demand for precise diagnostic tools, the prevalence of chronic diseases, and the need for personalized therapy. AI in medical imaging has the potential to streamline workflow procedures, facilitate early disease detection, and assist in treatment planning by rapidly analyzing vast amounts of medical data. This technology empowers radiologists and other healthcare professionals to make informed decisions, leading to improved patient care and reduced costs.
The availability of extensive datasets, coupled with advancements in AI algorithms and deep learning techniques, is propelling the rapid expansion of this sector. Machine learning algorithms and neural networks are being developed to analyze medical images and extract relevant data, enabling automated and accurate interpretations. The integration of AI in medical imaging systems is anticipated to address the shortage of qualified radiologists in certain areas, as it aids in image interpretation and provides valuable decision support.
Major vendors in the global AI in Medical Imaging Market:
- 1QB Information Technology
- Agfa-Gevaert Group/Agfa HealthCare
- Arterys
- AZmed
- Butterfly Network
- Caption Health
- Cellmati
- dentalXrai
- Digital Diagnostics
- EchoNous
- GLEAMER
- HeartVista
- iCAD
- Lunit
- Mediaire
- MEDO
- Nanox Imaging
- Paige AI
- Perimeter Medical Imaging AI
- Predible Health
- QLARITY IMAGING
- Quantib
- Quibim
- Qure.ai
- Renalytix
- Therapixel
- Ultromics
- Viz.ai
- VUNO
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Demand for Precise and Effective Diagnostic Tools
The escalating demand for accurate and effective diagnostic tools is a primary driver propelling the growth of the AI in Medical Imaging market. As healthcare providers and patients alike seek improved diagnostic capabilities, AI technologies offer a promising solution. These advanced algorithms can analyze medical images with unprecedented precision, aiding in the early detection and diagnosis of various conditions. The need for more reliable and efficient diagnostic tools, especially in fields like radiology, has prompted the integration of AI into medical imaging systems, encompassing modalities such as X-ray, MRI, CT scans, and ultrasound. By providing enhanced diagnostic accuracy, AI in medical imaging not only facilitates more effective patient care but also contributes to better treatment planning and outcomes.
Prevalence of Chronic Diseases and Personalized Therapy and Treatment Planning
The rising prevalence of chronic diseases worldwide is a significant factor driving the adoption of AI in medical imaging. Conditions such as cancer, cardiovascular diseases, and neurological disorders often require extensive and detailed imaging for accurate diagnosis and treatment planning. AI technologies offer the capability to handle vast amounts of medical data quickly and efficiently, assisting healthcare professionals in the interpretation of complex images. Through automated analysis, AI can detect subtle patterns and anomalies in medical images, aiding in the early identification of chronic diseases. This early detection not only improves patient outcomes but also allows for timely and targeted interventions, reducing the overall burden of chronic illnesses on healthcare systems.
Also, the shift towards personalized therapy and treatment planning is another influential factor in the adoption of AI in medical imaging. As the healthcare industry increasingly emphasizes personalized medicine, there is a growing need for tailored diagnostic approaches. AI technologies excel in processing individual patient data to create personalized treatment plans. By analyzing medical images in a nuanced manner, AI algorithms contribute to the identification of patient-specific characteristics and variations. This enables healthcare professionals to design treatment strategies that consider the unique aspects of each patient's condition. The integration of AI in medical imaging not only enhances the precision of treatment planning but also aligns with the broader trend towards more patient-centric healthcare, ultimately improving the quality of medical care and outcomes.
Market Dynamics
Drivers:
- Advancements in AI Algorithms and Deep Learning
- Massive Datasets for Training and Validation
- Addressing the Shortage of Qualified Radiologists
- Improved Diagnostic Capabilities and Decision Support
Opportunities:
- Integration of AI with Imaging Modalities
- Expansion of Telemedicine and Remote Imaging
- Personalized Medicine and Tailored Treatment Plans
- Emergence of Wearable Medical Devices
Based on Application, the Global API Security Market is dominated by the Digital Pathology segment.
Based on Application, The digital pathology segment dominates the market, primarily due to the heightened productivity of pathologists. Digital pathology serves as a validation tool for image analytics, enabling pathologists to process a higher number of slides in less time. This not only increases efficiency but also facilitates early identification of illnesses, leading to prompt initiation of therapy. The integration of AI and digital pathology aids doctors in making patient-centered decisions. The oncology market is gaining popularity, driven by growing awareness of cancer and its increased incidence. Artificial intelligence algorithms play a crucial role in enabling personalized therapy by identifying and comprehending the nature of malignancies. The second section of the market focuses on AI-driven diagnostic imaging for the heart, brain, breast, and mouth.
The market for AI in Medical Imaging Market is dominated by North America.
North America holds a substantial share in the AI in medical imaging market, characterized by a well-established healthcare infrastructure, advanced research and development capabilities, and significant investments in medical technologies. The presence of major market players and academic institutions actively contributing to AI innovation plays a pivotal role in the region's market growth. Favorable government initiatives, such as increased funding for research and development in both healthcare and AI, further propel the market's expansion in this region. Moreover, the Asia-Pacific region emerges as a key growth area for the AI in medical imaging market, with rapidly developing economies such as China, India, and Japan witnessing increased healthcare expenditure, technological advancements, and a rising demand for advanced medical imaging solutions. The region demonstrates a growing focus on AI integration in healthcare to address challenges and enhance patient care. Collaborations between regional governments, healthcare institutions, and AI technology providers further drive the adoption of AI in the medical imaging market in the Asia-Pacific region.
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