U.S. AI in Medical Imaging Market To Reach $2.93 Billion By 2030

U.S. AI in Medical Imaging Market Growth & Trends

The U.S. AI in medical imaging market is anticipated to reach USD 2.93 billion by 2030 and is anticipated to expand at a CAGR of 33.2% during the forecast period, according to a new report by Grand View Research, Inc. The increasing demand for managing extensive and complex datasets are the major factors contributing to the U.S. artificial intelligence (AI) in medical imaging market growth. For instance, in September 2023, Kinetica announced a Large Language Model (LLM) integrated with its advanced architecture. It enables users to conduct real-time, ad-hoc data analysis using natural language on structured data without needing external API calls. Data remains within the customer's environment, differentiating it from public LLMs. This announcement builds on Kinetica's analytic database to integrate with OpenAI.

The rising government initiatives endorsing the integration of artificial intelligence-based technologies in healthcare, is projected to drive the demand for AI in medical imaging market in the U.S. during the forecast period. For instance, in February 2023, the U.S. General Services Administration (GSA) initiated the Applied AI Healthcare Challenge, a competition encouraging diverse solutions for federal agencies to enhance medical care quality. This challenge addresses mental health, addiction, equity, supply chain safety, and cancer detection through AI technologies, fostering innovation and participation in the Year of Open Science in collaboration with Challenge.gov and the Centers of Excellence.

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U.S. AI in Medical Imaging Market Report Highlights

• Based on technology, the deep learning segment dominated the market in terms of revenue share of 58.6% in 2023 owing to the growing availability of extensive medical imaging datasets for training purposes facilitates the development of sophisticated deep learning models. On the other hand, the natural language processing (NLP) segment is expected to grow at the fastest CAGR over the forecast period

• Based on application, the neurology segment dominated the market in terms of revenue share of 37.9% 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 breast screening segment is expected to grow at the fastest CAGR over the forecast period

• Based on modalities, the CT scan segment dominated the market with 35.2% share in 2023 due to the higher standard imaging method for many clinical results. The X-Ray segment is expected to grow at the fastest CAGR over the forecast period

• Based on end use, the hospitals segment dominated the market with 52.8% share in 2023 and is expected to grow at the fastest CAGR over the forecast period, the growth is anticipated as patients prefer hospitals for the treatment process in terms of convenience and various product offerings in one place.

• In September 2023, Microsoft and healthcare technology company Paige collaborated to develop the most extensive image-based artificial intelligence (AI) models for digital pathology and oncology globally. This initiative seeks to revolutionize cancer diagnosis and enhance patient care. Leveraging advancements in the field, the partnership aspires to create a transformative impact on how cancer is diagnosed and treated, ultimately contributing to advancements in healthcare technology

U.S. AI in Medical Imaging Market Segmentation

Grand View Research has segmented the U.S. AI in medical imaging market based on technology, application, modalities, and end-use:

U.S. Artificial Intelligence (AI) in Medical Imaging Technology Outlook (Revenue, USD Million, 2018 - 2030)

• Deep Learning

• Natural Language Processing (NLP)

• Others

U.S. Artificial Intelligence (AI) in Medical Imaging Application Outlook (Revenue, USD Million, 2018 - 2030)

• Neurology

• Respiratory and Pulmonary

• Cardiology

• Breast Screening

• Orthopedics

• Others

U.S. Artificial Intelligence (AI) in Medical Imaging Modalities Outlook (Revenue, USD Million, 2018 - 2030)

• CT Scan

• MRI

• X-rays

• Ultrasound

• Nuclear Imaging

U.S. Artificial Intelligence (AI) in Medical Imaging End-Use Outlook (Revenue, USD Million, 2018 - 2030)

• Hospitals

• Diagnostic Imaging Centers

• Others

List of key players in the U.S. 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