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AI-Enabled Imaging Solutions Surge With Rising Breast Cancer Cases: Key Factor Driving The Growth In The AI-Enabled Imaging Solutions Market
AI-Enabled Imaging Solutions Market Growth
What Is the Expected AI-Enabled Imaging Solutions Market Size During the Forecast Period?
The market for AI-powered imaging solutions has seen a significant increase in size over the past few years. Its predicted growth is set to rise from $3.22 billion in 2024 to $4.14 billion in 2025, boasting a compound annual growth rate (CAGR) of 28.3%. This surge in growth during the historical period can be explained by a heightened demand for accurate diagnosis and treatment planning, increased healthcare expenditure, a rise in the incidence of chronic disease, growth of AI-enabled imaging solutions in the field of oncology, enhanced government initiatives, and added investment in AI research and the development of healthcare infrastructure.
It is projected that the market size for AI-powered imaging solutions will experience substantial growth in the coming years. The market is estimated to climb to $11.1 billion in 2029, with a compound annual growth rate (CAGR) of 28.0%. Factors contributing to this predicted growth during the forecast period include the expansion of telemedicine, increased emphasis on preventive healthcare, partnerships and collaborations between healthcare providers and AI solution providers, and the development of regulatory frameworks and ethical guidelines. Among the prominent trends expected during this forecast period are enhancements in AI algorithms, the integration of various imaging modalities, the usage of cloud-based AI solutions, increased focus on explainable AI (XAI), and the application of edge computing in AI-integrated imaging devices.
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What Are the High-Growth Segments in the AI-Enabled Imaging Solutions Market?
The AI-enabled imaging solutions market covered in this report is segmented -
1) By Offering: Software Tools Or Platform, Services
2) By Image Acquisition Technology: X-ray, Computed Tomography, Magnetic Resonance Imaging, Ultrasound Imaging, Molecular Imaging
3) By Technology: Machine Learning, Natural Language Processing, Context Aware Computing, Computer Vision
4) By End User: Hospitals, Clinics, Research Laboratories And Diagnostic Centers, Cybersecurity
Subsegments:
1) By Software Tools Or Platform: AI-Powered Image Analysis Software, AI-based Image Recognition Tools, AI Imaging Platforms For Healthcare, AI For Image Enhancement And Editing
2) By Services: AI Image Consulting Services, AI Imaging Implementation Services, AI-based Imaging Data Analysis Services, Cloud-Based AI Imaging Services
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What Key Drivers Are Expected to Influence Future AI-Enabled Imaging Solutions Market Growth?
The AI-enabled imaging solutions market is set to expand due to the escalating number of breast cancer cases. Breast cancer involves the unusual multiplication of cells in the breast tissue that can develop into a possibly malignant tumor with the ability to metastasize elsewhere in the body. The increase in breast cancer is often linked to shifts in lifestyle elements, including dietary habits, lack of physical activity, and hormonal factors, which in turn increase the need for all-inclusive healthcare solutions. AI-enabled imaging provides increased accuracy in early detection of breast cancer with their ability to automate mammogram analysis. This increases diagnostic precision and allows for prompt treatment, improving the prognosis for patients. For example, data from the American Cancer Society, a US-based cancer advocacy non-profit, confirmed that breast cancer incidences in the United States shot up from 284,200 in 2021 to 300,590 in 2023, a rise of 5.76%. Consequently, the escalating numbers of breast cancer cases are catalyzing the growth of the AI-enabled imaging solutions market.
Which Companies Hold the Largest Share Across Different AI-Enabled Imaging Solutions Market Segments?
Major companies operating in the AI-enabled imaging solutions market report are 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.
What Trends Are Driving Growth in The AI-Enabled Imaging Solutions Market?
Leading businesses in the AI-enabled imaging solutions sector are prioritizing the development of sophisticated solutions, like AI-enabled MRI systems, as a strategy to increase their market earnings. These AI-enabled MRI scanners come equipped with artificial intelligence features which enhance the process of image acquisition, analysis, processing, and interpretation. For example, in December 2023, US-based medical technology firm, GE Healthcare Technologies Inc., unveiled an AI-enabled MRI system called SIGNA Champion. This system showcases advanced deep learning and AI capabilities including Sonic DL and AIR Recon DL, which facilitate more accurate and quicker scans. Additionally, the system highlights added advantages like sustainability and operational efficiency owing to its reduced footprint and improved power utilization. Concurrently, GE Healthcare launched SIGNA PET/MR AIR, that integrates AI technology to enhance the diagnosis and treatment methods for diseases such as Alzheimer's disease and prostate cancer.
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What Are the Emerging Geographies for The AI-Enabled Imaging Solutions Market Growth?
North America was the largest region in the AI-enabled imaging solutions market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI-enabled imaging solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the AI-Enabled Imaging Solutions Market?
2. What is the CAGR expected in the AI-Enabled Imaging Solutions Market?
3. What Are the Key Innovations Transforming the AI-Enabled Imaging Solutions Industry?
4. Which Region Is Leading the AI-Enabled Imaging Solutions Market?
Why This Report Matters:
Competitive overview: This report analyzes the competitive landscape of the 3D imaging software market, evaluating key players on market share, revenue, and growth factors.
Informed Decisions: Understand key strategies related to products, segmentation, and industry trends.
Efficient Research: Quickly identify market growth, leading players, and major segments.
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