New York, May 16, 2024 (GLOBE NEWSWIRE) -- Market Explanation:
The Global AI in Medical Imaging Market was valued at USD 1,157.33 million in 2023 and is anticipated to generate an estimated revenue of USD 16,175.52 million by 2032, with a CAGR of 34.1% from 2024 to 2032.
Medical imaging indicates many varied technologies that are utilized to perspective the human body with the aim to determine, observe, or cure medical conditions. The AI in medical imaging market growth can be attributed to it predominantly including non-invasive fabrication strategies for the medical workforce to recognize wounds and detect illnesses or detrimental illnesses. The appeal of AI analysis to medical imaging reinforces healthcare experts to recognize issues or information that might be overlooked by the human eye. For instance, AI-generated medical imaging can scrutinize data points in medical descriptions to differentiate an illness and signals.
Moreover, deep learning algorithms are covered. Medical imaging technology now permits medical experts to recognize deformities and find illnesses with unequaled precision and acceleration. The rapidly rising demand for AI in the medical imaging market is attributed to this progression, which has caused notable improvisations in diagnostic precision, cure productivity, and holistic patient care standards. Lately, the healthcare industry has growingly espoused Artificial Intelligence to improve patient care, diagnostics, and investigation of medical data.
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Fundamental Stats from the Report
- The global market for AI in medical imaging was valued at USD 1,157.33 million in 2023.
- The market is expected to grow at a 34.1% compound annual growth rate (CAGR) during the forecast period of 2024-2032.
- The AI in medical imaging market size is anticipated to grow to USD 16,175.52 million by 2032.
Key Findings from the Report
The market for AI in medical imaging is expanding due to several factors, including a growing aggregate of diagnostic processes, premature perception, enhanced diagnosis, and customized patient care.
The market is mainly segmented by technology, application, modality, end-user, and region.
North America dominated the market with the largest AI in medical imaging market share in 2023.
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Market Key Players
- Siemens Healthineers AG
- GE Healthcare
- IBM Watson Health
- BenevolentAI Limited
- Philips Healthcare
- Zebra Medical Vision Inc.
- Samsung Electronics Co. Ltd.
Important Market Developments
Growth Drivers:
- One of the main factors driving AI in medical imaging market growth is the escalating pervasiveness of diseases, which is causing a growing aggregate of diagnostic processes and subsequently pushing market demand.
- AI-powered medical imaging structures have experienced notable technological progressions and are acquiring approval, particularly in high-income nations. The advancement of unsegregated RTI software that smoothly amalgamates into imaging gadgets such as MRI or CT scanners amounts to one such progression sanctioning the automation of medical imaging processing.
Trends:
- The forecast period will witness substantial growth in the AI in medical imaging market demand due to the progression in computational power and imaging technology, which have eased the advancement of modern AI algorithms capable of processing intricate medical data with unparalleled acceleration and preciseness. Additionally, the amalgamation of AI into medical imaging efforts improves productivity and efficacy for healthcare donors.
Challenges:
- The convergence of artificial intelligence in medical imaging carries massive potential for transfiguring healthcare diagnostics and treatment strategizing. However, negotiating this topography includes needing more strict directives and moral deliberations. Administrative structures controlling AI in medical imaging differ worldwide, creating a notable challenge for firms looking for functioning across borders.
Regional Insights
North America: The AI in medical imaging market in North America is expected to increase because of the technologically progressive framework and escalated per capita remuneration levels.
Asia Pacific: This region has experienced an escalated pace due to substantial acquisitions of progressive technologies, enhanced network association, and augmented government resourcefulness.
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Segmentation Overview
By Technology Outlook
- Deep Learning
- Natural Language Processing (NLP)
- Others
By Application Outlook
- Neurology
- Respiratory and Pulmonary
- Cardiology
- Breast Screening
- Orthopedics
- Others
By Modality Outlook
- CT scan
- MRI
- X-rays
- Ultrasound
- Nuclear Imaging
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia. South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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