The global AI in medical imaging market size was estimated at USD 982.16 million in 2023 and is projected to hit around USD 14,271.80 million by 2032 with a registered CAGR of 33.1% during the forecast period 2023 to 2032. The diagnostic process known as medical imaging may be characterized as the generation of visual aids and picture representations of the human body, as well as the observation of the performance and functionality of the human organs. Artificial intelligence (AI) is changing how diagnoses and the whole procedure are carried out in the healthcare and medical imaging fields.
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The U.S. AI in medical imaging market size was valued at USD 131.14 million in 2022 and is expected to reach USD 2,694.75 million by 2032, growing at a CAGR of 34.4% from 2023 to 2032.
Due to their highly developed healthcare systems and high levels of disposable wealth, North America and Europe dominate AI in the medical imaging industry. The need for artificial intelligence in medical imaging has also been spurred by the existence of important players and supportive governmental legislation.
Throughout the projected period, the Asia Pacific is anticipated to increase at a profitable pace. The frequency of illnesses and the growing population might be blamed for the rise. Additionally, the market is growing due to the rapidly modernizing healthcare infrastructure in Asian nations like China, Indonesia, and India.
One of the most promising areas of health and medical innovation is the use of artificial intelligence (AI) in medical imaging. Medical imaging uses AI in a variety of ways, including image capture, processing for assisted reporting, planning for follow-up visits, data storage, data mining, and more. AI has demonstrated impressive sensitivity and precision in the categorization of imaging abnormalities in recent years, and it guarantees to enhance tissue-based detection and characterization. A branch of artificial intelligence called machine learning (ML) uses computational models and algorithms that mimic the structure of the brain's organic neural networks. Layers of linked nodes make up the architecture of neural networks. Each network node weights and summarizes the input data before sending them to the activation function.
The diagnostic process was changed by the use of AI in healthcare and medical imaging, which stimulated the growth of the market for AI in medical imaging on a global scale. Medical practitioners are assisted by artificial intelligence in the execution of the picture acquisition process and in the analysis of these pictures for the diagnosis and personalized care of each patient. AI has been utilized by researchers to objectively evaluate radiographic properties and automatically identify difficult patterns in imaging data. In radiation oncology, Artificial Intelligence has been used to enhance many distinctive image modalities which are used at various stages of the therapy. One of the most well-liked study subjects in medical imaging nowadays is radiation omics, which involves the high-throughput extraction of a significant number of picture attributes from radiation images.
Additionally, AI plays a crucial role in the analysis of a large volume of medical photos, which reveals illness signs that are otherwise missed. As a result, it is anticipated that the market for AI in medical imaging will expand during the next years. Scientists have significantly advanced the effort to combat COVID-19; new study discoveries, such as analytical reports as well as publications from both university and corporate researchers, are emerging every day. A growing number of researchers are turning to artificial intelligence (AI) to detect and forecast diseases in the context of medical imaging studies. AI-based image analysis algorithms offer more accurate, effective, quick, stable, and reproducible illness information than conventional image processing techniques. The basis of AI-based COVID-19 diagnosis processes is therefore image analysis, image segmentation of infected lung regions, and analytics for clinical evaluation. During the anticipated timeframe, these AI-based methods have shown great commercialization potential for AI in the medical imaging sector.
|Market Size in 2023
|USD 982.16 Million
|Market Size by 2032
|USD 14,271.80 Million
|Growth Rate from 2023 to 2032
|CAGR of 33.1%
|2023 to 2032
Key Market Drivers
AI-based diagnostic imaging improves care models in the healthcare sector
Key Market Challenges
Medical professionals' reluctance to utilize AI-based technology
Key Market Opportunities
Emerging economies display significant potential
When compared to CT scans, magnetic resonance imaging can produce pictures that are free of imperfections. Due to its efficiency in obtaining details and better-quality pictures of soft tissues, the MRI is frequently seen as a superior alternative to X-rays. Utilizing optical coherence tomography, three-dimensional interactions between the retina and membranes are made possible to control the vitreoretinal disease.
The market is dominated by the healthcare sector. This is because hospitals are widely dispersed and accessible; hence, many patients like hospitals. The market for medical imaging AI is also anticipated to benefit from favorable reimbursement regulations. During the anticipated time, diagnostic centers are anticipated to grow in popularity. This may be attributable to elements including rising patient awareness and a desire for diagnostic procedures and tests, all of which are fueling the market's expansion. Due to its ease in providing high-quality medical facilities in remote places, particularly rural ones, the ambulatory category is expected to develop at a quicker CAGR throughout the projection period. The availability of qualified surgeons and a surplus of the necessary equipment are contributing to the expansion of the hospital market. Government assistance in emerging nations is likely to boost hospital infrastructure and technologies throughout the forecast period, which is anticipated to cause the hospital segment to see growth.
The market is dominated by the digital pathology segment, which can be linked to pathologists' rising productivity. A validation tool for image analytics is provided by digital pathology, helping pathologists process more slides in less time. This facilitates early illness identification and quicker therapy initiation. AI and digital pathology also assist doctors in making patient-centered decisions. The oncology market is also expected to grow in popularity as more individuals become aware of cancer and its increased incidence in the public. Personalized therapy is made possible by artificial intelligence algorithms that identify and comprehend the nature of malignancies. The second section focuses on AI-driven diagnostic imaging for the heart, brain, breast, and mouth.
Global AI in Medical Imaging Market Revenue ($Million), By Application
|Lungs (Respiratory System)
|Others (Pediatric ailments, Orthopedics, etc.)
Segment Covered in the Report
By AI Technology
By End Use
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