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AI-Enabled Imaging Solutions Market Report 2024 - AI-Enabled Imaging Solutions Market Size And Trends By 2033
AI-Enabled Imaging Solutions Market
According to The Business Research Company's, The AI-enabled imaging solutions market size has grown exponentially in recent years. It will grow from $2.52 billion in 2023 to $3.22 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The growth in the historic period can be attributed to increased demand for precise diagnostics and treatment planning, growth in healthcare spending, rise in prevalence of chronic diseases, expansion of AI-enabled imaging solutions in oncology, rise in government initiatives, and increased funding for AI research and healthcare infrastructure development.
The AI-enabled imaging solutions market size is expected to see exponential growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 28.1%. The growth in the forecast period can be attributed to telemedicine expansion, increasing focus on preventive healthcare, increasing partnerships, collaborations between healthcare providers and AI solution providers, and evolving regulatory frameworks and ethical guidelines. Major trends in the forecast period include advancements in AI algorithms, integration of multiple imaging modalities, adoption of cloud-based AI solutions, growing emphasis on explainable AI (XAI), and implementation of edge computing in AI-enabled imaging devices.
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Market Drivers and Trends:
The rise in cases of breast cancer is expected to propel the growth of the AI-enabled imaging solutions market going forward. Breast cancer refers to the abnormal growth of cells in the breast tissue, which can form a tumor that may be malignant and has the potential to spread to other parts of the body. The surge in cases of breast cancer can be attributed to lifestyle changes, including diet and physical inactivity and hormonal factors, fueling demand for comprehensive healthcare solutions. AI-enabled imaging solutions aid in the early detection of breast cancer through automated analysis of mammograms, improving diagnostic accuracy and enabling timely intervention, ultimately enhancing patient outcomes. For instance, in January 2023, according to the American Cancer Society, a US-based nonprofit cancer advocacy organization, the number of breast cancer cases in the United States increased from 284,200 in 2021 to 300,590 in 2023, reflecting a growth of 5.76%. Therefore, the rise in cases of breast cancer is driving the growth of the AI-enabled imaging solutions market.
Major companies operating in the AI-enabled imaging solutions market are focused on developing advanced solutions, such as AI-enabled MRI (Magnetic Resonance Imaging) systems, to maximize their revenue in the market. An AI-enabled MRI system refers to an MRI scanner equipped with artificial intelligence capabilities, allowing for enhanced image acquisition, processing, analysis, and interpretation. For instance, in December 2023, GE Healthcare Technologies Inc., a US-based medical technology company, launched SIGNA Champion, an AI-enabled MRI system that features advanced AI and deep learning capabilities, such as AIR Recon DL and Sonic DL, which enable faster and more precise scans. The system also emphasizes sustainability and operational benefits, with a smaller footprint and enhanced power efficiency. Alongside SIGNA Champion, GE Healthcare introduces SIGNA PET/MR AIR, incorporating AI technologies to improve diagnosis and treatment for conditions such as prostate cancer and Alzheimer's disease.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
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Major Key Players of the Market:
Medtronic PLC, NVIDIA Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Zebra Medical Vision Ltd., Hologic Inc., Agfa-Gevaert Group, Samsung Medison Co. Ltd., Konica Minolta Healthcare Americas Inc., Intelerad Medical Systems, Hitachi Medical Systems, Merative L.P., Canon Medical Systems Corporation, Aidoc Medical Ltd., Butterfly Network Inc., HeartFlow Inc., Arterys Inc., Caption Health Inc., EchoNous Inc., Vuno Inc., Mirada Medical Limited, Resoundant Inc., Lunit Inc.
AI-Enabled Imaging Solutions Market 2024 Key Insights:
• The AI-enabled imaging solutions market size is expected to see exponential growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 28.1%.
• AI-Enabled Imaging Solutions Surge With Rising Breast Cancer Cases
• AI-Enabled MRI Systems Driving Innovation And Revenue Growth In The Medical Imaging Market
• North America was the largest region in the AI-enabled imaging solutions market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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