AI in Medical Imaging Market Poised to Skyrocket to US$ 26.8 Bn by 2031, Transparency Market Research

The Global AI (Artificial Intelligence) in Medical Imaging market, valued at US$ 1.3 billion in 2022, is anticipated to advance at an impressive CAGR of 40.3%, reaching a staggering US$ 26.8 billion by the end of 2031, according to the latest market analysis report.

Revolutionizing Medical Imaging
Artificial intelligence is significantly transforming the medical imaging industry, enabling early and accurate diagnosis of various diseases. The incorporation of AI in digital imaging technologies such as CT scans, MRIs, X-rays, and ultrasounds is reshaping diagnostic procedures, making them more efficient and reliable. The demand for AI-driven diagnostics is on the rise, and its impact is evident in the rapid expansion of the healthcare sector.

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Key Drivers and Trends
Several factors are propelling the growth of the AI in medical imaging market:
• Volume of Imaging Data: The increasing volume of imaging data necessitates the use of AI to analyze and interpret images swiftly and accurately. For instance, AI algorithms can detect and track changes in brain tissue indicative of neurological disorders, thereby assisting healthcare professionals in providing timely and precise diagnoses.

• Telemedicine Surge: The COVID-19 pandemic accelerated the adoption of telemedicine, highlighting its importance in providing remote medical care. AI technologies have proven instrumental in enhancing telemedicine services by enabling remote diagnosis and treatment. This trend is expected to continue, driving the demand for AI in medical imaging.

• Predictive Analytics and Personalized Medicine: The growing adoption of AI-based predictive analytics and personalized medicine is another significant trend. AI algorithms help in predicting disease progression and tailoring treatments to individual patients, thereby improving patient outcomes and reducing healthcare costs.

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Market Segmentation
Solution
• Software Tools/Platforms
• Services
• Integration
• Deployment

AI Technology
• Deep Learning
• Computer Vision
• Others

Image Acquisition Technology
• X-ray
• Computed Tomography (CT)
• Magnetic Resonance Imaging
• Ultrasound Imaging
• Molecular Imaging

Clinical Application
• Cardiovascular
• Neurology
• Lung (Respiratory System)
• Breast (Mammography)
• Oncology
• Pathology
• Liver (GI)
• Oral Diagnostics
• Rest of the Body

Regional Insights
North America is expected to maintain its dominance in the AI in medical imaging market due to its advanced healthcare infrastructure and early adoption of innovative technologies. Meanwhile, the Asia Pacific region is anticipated to exhibit the fastest growth, driven by a high prevalence of chronic diseases and increasing adoption of advanced imaging technologies.

Key players in the market include Autodesk, Inc., Ada Health GmbH, Arterys, Bay Labs, Inc., Babylon, BenevolentAI, Butterfly Network, Inc., EchoNous, Inc., Enlitic, Inc., Gauss Surgical, GE Healthcare, IBM Corporation, Lunit Inc., Microsoft, NVIDIA Corporation, Philips Healthcare, OrCam, Qure.ai, Siemens Healthineers AG, and Zebra Medical Vision.

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