AI In Medical Imaging Market To Reach $8.18 Billion By 2030

AI In Medical Imaging Market Growth & Trends

The global AI in medical imaging market size is expected to reach USD 8.18 billion by 2030, based on a new report by Grand View Research, Inc. The market is expected to grow at a CAGR of 34.8% from 2024 to 2030 owing to the growing aging population and increased investment in the healthcare ecosystem by government and private players. Moreover, developed countries have been investing in offering people access to inexpensive and advanced healthcare systems in response to this demographic challenge, ultimately boosting the market growth. Additionally, X-ray imaging technology is utilized to identify a variety of disorders, including fractures, infections, various malignancies, and arthritis. As a result, the rise in the incidence rate of these diseases is expected to have a positive impact on the market growth.

COVID-19 had a positive impact on the market as the majority of medical professionals chose imaging as one of the most popular COVID-19 screening modalities as it provided critical diagnostic in a short time. The entire set of imaging data has been used to research the virus and its effect on people of various demographics. Many hospitals have resorted to medical imaging and image analytics techniques to improve the identification and control of the virus as nearly every healthcare organization is working to manage COVID-19 better and limit its spread. For instance, in June 2020, a hospital in Florida, the Tampa General Hospital employed AI-driven technology to check people for COVID-19 before they interacted with staff members and other patients.

The rising awareness regarding the benefits offered by Artificial Intelligence (AI) technologies and their application in the medical field has led to increased adoption of AI-based solutions, products, and services in the healthcare market. Moreover, to develop advanced AI-based applications for the healthcare industry, several leading healthcare companies are adopting different strategies such as collaborations, mergers & acquisitions, and partnerships with top AI technology vendors to provide cutting-edge solutions to their clients and strengthen their position in this competitive market environment. For instance, in June 2020, Intel announced its partnership with Maricopa County Community College District to introduce the first artificial intelligence associate degree in the North American region. The initiative will also be supported by a USD 100,000 workforce grant from the Arizona Commerce Authority. A number of students are expected to benefit from this partnership as it enables students to pursue employment in the automotive, technology, healthcare, and aerospace industries.

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AI In Medical Imaging Market Report Highlights

• Based on technology, the deep learning segment held the largest share of 57.94% in 2023 owing to its superior ability to analyze complex medical images and provide accurate diagnostics.

• Based on application, the neurology segment held the largest market share in 2023 owing to the increased use of AI in neurology, as it provides better patient care and enables higher accuracy and high efficiency.

• The CT scan segment held the largest market share in 2023 due to their ability to provide detailed cross-sectional images of the body making them indispensable in medical diagnostics.

• The hospitals segment dominated the market with the largest share in 2023 and is expected to grow at the fastest CAGR of over the forecast period.

• The AI in medical imaging market in North America dominated the global industry in 2023 and accounted for the largest revenue share of over 43.00% in 2023.

AI In Medical Imaging Market Segmentation

Grand View Research has segmented the global AI in medical imaging market on the basis of technology, application, modalities, end use, and region:

AI In Medical Imaging Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Deep Learning

• Natural Language Processing (NLP)

• Other

AI In Medical Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Neurology

• Respiratory and Pulmonary

• Cardiology

• Breast Screening

• Orthopedics

• Others

AI In Medical Imaging Modalities Outlook (Revenue, USD Million, 2018 - 2030)

• CT Scan

• MRI

• X-rays

• Ultrasound

• Nuclear Imaging

AI In Medical Imaging End Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

AI In Medical Imaging Regional Outlook (Revenue, USD Billion, 2018 - 2030)

• North America

  • U.S.

  • Canada

  • Mexico

• Europe

  • Germany

  • UK

  • France

  • Spain

  • Italy

  • Norway

  • Denmark

  • Sweden

• Asia Pacific

  • China

  • India

  • Japan

  • Australia

  • South Korea

  • Thailand

• Latin America

  • Brazil

  • Argentina

• MEA

  • South Africa

  • Saudi Arabia

  • UAE

  • Kuwait

List of Key Players of AI In Medical Imaging Market

• GE HealthCare

• Microsoft

• Digital Diagnostics Inc.

• TEMPUS

• Butterfly Network, Inc.

• Advanced Micro Devices, Inc.

• HeartFlow, Inc.

• Enlitic, Inc.

• Canon Medical Systems USA, Inc.

• Viz.ai, Inc.

• EchoNous, Inc.

• HeartVista Inc.

• Exo Imaging, Inc

• Nano-X Imaging Ltd.