Albany NY, United States, May 13, 2022 (GLOBE NEWSWIRE) -- Increasing acceptance of AI in medical imaging for detection, characterization, and monitoring of a wide spectrum of diseases is expanding lucrative avenues in the AI in medical imaging market. The past few years have witnessed massive R&D in deep learning methods for complex image-recognition tasks, extending the canvas for exploring new customer propositions for AI in medical imaging. The global AI in medical imaging market is projected to reach US$ 20.11 Bn by 2031.
Strides being made in telehealth and enterprise imaging in recent years have unlocked a new vista for leveraging AI imaging for radiology in healthcare industry. Although the prospects of the AI in medical imaging market have been grown significantly over the years, emerging need for telemedicine after the outbreaks of COVID-19 pandemic in several countries has spurred the momentum. AI has been increasingly integrated with chest CT, thus bolstering the outlook of the AI in medical imaging market.
Need for innovative image processing approaches for paediatrics and oncology is expected to make a massive contribution to revenue of AI in medical imaging market. Machine learning algorithms are being explored for increasing the accuracy and speed of image analysis in disease diagnosis. Advancements in convolutional neural networks methods are catalyzing the revenue potential for various industry stakeholders in the AI in medical imaging market.
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Key Findings of AI in Medical Imaging Market Study
- Clinicians Exploring Potential of AI in Oncology Radiology: AI algorithms and machine learning methods are gathering traction in cancer treatment. Applications of AI in radiographic cancer images and numerous other oncology subspecialties have been growing, indicate recent developments in the AI in medical imaging market. The introduction of state-of-the-art AI systems has opened up abundant opportunities. Governments in numerous countries are increasingly supporting and promoting the deployment of these in medical institutions.
- Growing Acceptance of AI-based Tools among Doctors: Physicians and radiologists are increasingly embracing deep learning algorithms in assessing medical images to enrich their understanding of detection, characterization, and monitoring of diseases. The growing use of deep learning in tissue-based detection and characterization presents a vast revenue potential for med-tech companies, notes the TMR study on the AI in medical imaging market. The use of deep neural networks in MRI scanning is expected to expand profitable avenues in the near future.
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AI in Medical Imaging Market: Key Drivers
- Enormous research in exploring AI algorithms in image recognition tasks has reinforced academia and industry players in utilizing AI for radiology. Machine learning algorithms in particular have been widely explored, expanding the horizon for stakeholders in the AI in medical imaging market.
- The past few decades have witnessed massive rise in the number of imaging volumes in various clinical settings in various developed and developing economies. This is a key driving force for the AI in medical imaging market.
AI in Medical Imaging Market: Regional Growth Dynamics
- Sales forecast for AI in medical imaging market find that lucrative avenues in Asia Pacific have been growing at a remarkable pace. The Asia Pacific AI in medical imaging market is expected to witness massive revenue streams in the next few years on the back of rise in spending on healthcare infrastructure especially in emerging economies. The region is expected to the fastest growing market for AI in medical imaging.
- Growing prevalence of various chronic diseases has spurred the volumes of medical imaged generated in hospitals. This has spurred the revenue potential of the AI in medical imaging market.
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AI in Medical Imaging Market: Key Players
Leading players in the AI in medical imaging market are geared toward growing their R&D spend on AI especially deep learning methods for healthcare. Some of the key players in the AI in medical imaging market are Agfa Healthcare, Ada Health GmbH, Babylon, BenevolentAI, Butterfly Network, Inc., EchoNous, Inc., Gauss Surgical, GE Healthcare, Lunit Inc., IBM Corporation, Microsoft Corporation, Philips Healthcare, OrCam, Ada Health GmbH, and Siemens Healthineers AG.
Global AI in Medical Imaging Market: Segmentation
AI in Medical Imaging Market, by Solution
- Software Tools/Platform
- Services
- Integration
- Deployment
AI in Medical Imaging Market, by AI Technology
- Deep Learning
- Computer Vision
- Others
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AI in Medical Imaging Market, by Image Acquisition Technology
- X-ray
- Computed Tomography (CT)
- Magnetic Resonance Imaging
- Ultrasound Imaging
- Molecular Imaging
AI in Medical Imaging Market, by Clinical Application
- Cardiovascular
- Neurology
- Lung (Respiratory System)
- Breast (Mammography)
- Oncology
- Pathology
- Liver (GI)
- Oral Diagnostics
- Rest of Body
AI in Medical Imaging Market, by End User
- Hospitals
- R&D Centers
- Laboratories and Diagnostic Centers
AI in Medical Imaging Market, by Region
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Spain
- Italy
- Rest of Europe
- Asia Pacific (APAC)
- China
- India
- Japan
- ASEAN
- Rest of Asia Pacific
- Middle East & Africa (MEA)
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of Middle East & Africa (MEA)
- South America
- Brazil
- Argentina
- Rest of South America
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