AI in Medical Imaging Market Forecasted To Reach USD 20.21 Bn. by 2030, Growing at 36.07 % CAGR from 2024 to 2030
The AI in Medical Imaging Market is experiencing significant growth, with a projected value of USD 20.21 billion by 2030. This market is expected to grow at a CAGR of 36.07% during the forecast period. The increasing adoption of AI technology in medical imaging is a key driver for this growth. AI is enhancing the accuracy and efficiency of medical imaging processes, leading to improved patient outcomes. The market is poised for further expansion as advancements in AI technology continue to drive innovation in the healthcare industry.
AI in Medical Imaging Market Overview
The global Artificial Intelligence (AI) in medical imaging market is experiencing significant expansion, driven by technological advancements and the increasing demand for precise diagnostic tools. Valued at USD 2.34 billion in 2023, the market is projected to reach USD 20.21 billion by 2030, reflecting a compound annual growth rate (CAGR) of 36.07% during the forecast period. AI integration into medical imaging systems, including X-rays, MRIs, CT scans, and ultrasounds, enhances diagnostic accuracy and efficiency. This technology enables rapid analysis of complex medical images, facilitating early disease detection and personalized treatment plans. The rising prevalence of chronic diseases and the need for improved diagnostic capabilities are key factors propelling market growth.
AI in Medical Imaging Market Dynamics
The market's expansion is fueled by the growing demand for accurate diagnostics and the increasing adoption of AI technologies in healthcare. AI-powered solutions streamline workflow processes, assist in early disease detection, and support treatment planning, leading to enhanced patient care and reduced healthcare costs. Advancements in AI algorithms and deep learning techniques further accelerate this growth.
AI in Medical Imaging Market Outlook and Future Trends
The future of AI in medical imaging is promising, with substantial growth anticipated in regions like Asia-Pacific due to rising healthcare expenditures and the adoption of digital healthcare solutions. Government initiatives and collaborations between healthcare organizations and technology providers are expected to further drive market expansion.
Key Recent Developments
In 2024, the AI medical imaging sector witnessed significant mergers and acquisitions aimed at enhancing AI capabilities and expanding market presence. Notably, RadNet acquired DeepHealth to bolster its AI-driven imaging solutions, and Philips Healthcare collaborated with AI startups to strengthen its AI imaging portfolio.
AI in Medical Imaging Market Segmentation
Imaging Mode:
X-ray
MRI (Magnetic Resonance Imaging)
Computed Tomography scans
Ultrasound Imaging
Others
Technology:
Machine Learning
Natural Language Processing
Others
Application:
Oncology
Neurology
Cardiology
Radiology
Others
End-User:
Hospitals
Diagnostic Centers
Research Institutions
Current Players in the AI in Medical Imaging Market
North America:
GE Healthcare (United States)
IBM Watson Health (United States)
NVIDIA Corporation (United States)
Aidoc (United States)
Butterfly Network (United States)
Europe:
Siemens Healthineers (Germany)
Philips Healthcare (Netherlands)
Sectra AB (Sweden)
Agfa-Gevaert Group (Belgium)
Zebra Medical Vision (Israel)
Asia Pacific:
Canon Medical Systems Corporation (Japan)
Ping An Healthcare and Technology Company Limited (China)
Infervision (China)
Carestream Health (United States, with a strong presence in Asia Pacific)
Huiying Medical Technology Co., Ltd. (China)
Latin America:
Grupo Fleury (Brazil)
Hospital Alemão Oswaldo Cruz (Brazil)
Inbrain Neuroelectronics (Spain, with operations in Latin America)
Inova (Mexico)
Radiologia Integrada (Chile)
Middle East and Africa:
AIDoc Medical (Israel)
AlemHealth (United Arab Emirates)
Quantib (South Africa)
Mirai Medical (South Africa)