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Artificial Intelligence (AI) in Medical Imaging Market - By Technology (Deep Learning, Machine Learning, Computer Vision), Clinical Application (Neurology, Digital Pathology), Modalities (X-ray, CT, MRI, Ultrasound), End-user (Hospitals, Clinics), Global Forecast 2023 - 2032

  • Report ID: GMI5378
  • Published Date: Jul 2023
  • Report Format: PDF

AI in Medical Imaging Market Size

AI in Medical Imaging Market was worth over USD 1.38 billion in 2022. Driven by the high R&D investment in medical imaging by market players, the industry could grow at over 30.5% CAGR from 2023 to 2032. Global medical imaging industry is expected to witness over 5.1% CAGR in the forecast period due to incremental innovations and advancements in medical imaging technology.
 

Artificial Intelligence (AI) in Medical Imaging Market

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With the growing penetration of AI in the medical imaging and healthcare sector, many industry players are heavily investing in R&D activities to develop and manufacture new technologies in the space. For instance, in October 2022, Google Cloud unveiled Medical Imaging Suite, a new solution that makes healthcare imaging data more interoperable and accessible. Many healthcare institutions are also focusing on encouraging the use of AI in healthcare, which will shape the industry landscape.
 

COVID-19 Impact

The COVID-19 pandemic had a positive impact on AI in medical imaging market on account of rising awareness and adoption of AI in radiology for disease diagnosis and treatment. In fact, many research institutes also invested huge amounts into analyzing the effectiveness of AI for COVID-19 detection. For instance, in August 2021, researchers at Terasaki Institute for Biomedical Innovation (TIBI) developed an image-based COVID-19 detection model equipped with AI. Growing government investment in AI will further pave the way for industry growth in the post-COVID-19 era as well.
 

AI in medical imaging Market Trends

Surging advancements in AI will generate lucrative opportunities in the field of medical imaging. Generative adversarial networks (GANs) and other deep learning techniques are now being used to reconstruct high-resolution images from low-resolution or noisy inputs. This helps reduce radiation exposure in several cases and can improve image quality in suboptimal imaging conditions. Additionally, deep learning models are being developed to detect and classify abnormalities in X-rays, mammograms, CT scans, and MRIs, assisting radiologists in the interpretation process and improving accuracy.
 

AI in Medical Imaging Market Analysis

AI in Medical Imaging Market Size, By Modality

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Based on modality, the X-ray segment amassed around 31.5% of the AI in medical imaging market share in 2022. High accuracy of AI has increased its demand in X-ray modalities. AR and VR technologies are now being integrated with X-ray imaging to provide immersive and interactive experiences for radiologists. This allows healthcare professionals to visualize X-ray images in 3D, overlay anatomical information, or simulate procedures for pre-operative planning. These technologies can enhance spatial understanding and facilitate more precise interpretations, streamlining segment progression.
 

Artificial Intelligence in Medical Imaging Market Share, By End Use

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Based on end-use, the hospitals segment registered over 42.5% of the AI in medical imaging market share in 2022. High availability of advanced AI-based medical cameras in hospitals will contribute to segment growth. Moreover, favorable reimbursement policies, in line with the high availability of skilled healthcare professionals, have increased patient visits in these facilities, further leading to segment expansion. Besides, rising investments in expanding the existing healthcare infrastructure will further work in favor of segment progress.
 

North America AI in Medical Imaging Market Size

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From the regional standpoint, North America AI in medical imaging market held more than 35.5% share in 2022. Flourishing healthcare infrastructure and the robust presence of key industry players is contributing to regional growth. Many healthcare institutions and research agencies in the region are heavily investing in AI in the healthcare sector. For instance, in September 2022, the National Institutes of Health announced that it would invest USD 130 million over four years to accelerate the use of AI by biomedical and behavioral research authorities.
 

AI in Medical Imaging Market Share

  • GE Healthcare
  • InformAI LLC
  • Koninklijke Philips N.V
  • Nanox Imaging LTD.
  • IBM Watson Health
  • Intel Corporation
  • Lunit Inc.
     

AI in Medical Imaging Market News:

  • In September 2022, IBM announced its intent to acquire Dialexa, a prominent U.S. digital product engineering services firm. This acquisition will strengthen the company’s product engineering expertise while offering end-to-end digital transformation services for clients.
  • In August 2022, GE Healthcare unveiled Definium™ 656 HD, a next-generation X-ray system in its fixed X-ray products portfolio. This product offers in-room workflows and motorization with an intelligent workflow suite, flashpad detectors, and AI-driven helix advanced image processing software.

 

This AI in medical imaging market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD Billion from 2018 to 2032 for the following segments:

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Market Size, By Modality

  • X-ray
  • Computed tomography (CT)
  • Magnetic Resonance Imaging (MRI)
  • Ultrasound imaging
  • Molecular imaging

Market Size, By Application

  • Breast imaging
  • Lung imaging
  • Neurology
  • Cardiovascular applications
  • Liver imaging
  • Other applications

Market Size, By End-use

  • Hospitals
  • Clinics
  • Diagnostic Centers
  • Other end users

The above information is provided for the following regions and countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Italy
    • Rest of Europe
  • Asia Pacific
    • Japan
    • China
    • India
    • Australia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • South Africa
    • Saudi Arabia
    • Rest of Middle East & Africa
       
Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

AI in medical imaging industry was valued at over USD 1.3 billion in 2022 and will grow at more than 30.5% CAGR from 2023 to 2032, attributed to high R&D investment in medical imaging by market players.

The X-ray segment held around 31.5% of the AI in medical imaging industry share in 2022, owing to the high accuracy of x-ray imaging.

North America AI in the medical imaging market held over 35.5% share in 2022 on account of the rapidly expanding healthcare infrastructure in the region.

Major AI in medical imaging industry players include Arterys Inc., GE Healthcare, InformAI, LLC, Koninklijke Philips N.V., DIGITAL DIAGNOSTICS INC., Intel Corporation, and Lunit Inc., among others.

AI in Medical Imaging Market Scope

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Premium Report Details

  • Base Year: 2022
  • Companies covered: 10
  • Tables & Figures: 214
  • Countries covered: 19
  • Pages: 150
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