AI-Enabled Medical Imaging Solutions Market to Exhibit 31.3% CAGR till 2027 | Trend – Advancement in technology

Market Size – USD 532.9 Million in 2019, Market Growth – CAGR of 31.3%, Market Trends – Rapid advancement and progress in medical technologies

Improvement in the efficiency of imaging solutions, enhanced capability of detecting cancers at early stages, and the growing need for smart diagnosis to boost the efficiency of diagnosis are the key elements boosting the market growth.

The global AI-Enabled Medical Imaging Solutions Market is expected to be valued at USD 4,720.6 Million in 2027 from USD 532.9 Million in 2019, registering a CAGR of 31.3% through the forecast period. The market is observing exponential growth owing to the increasing complexity of efficient clinical decision making. The integration of artificial intelligence in medical imaging techniques has become a vital aspect as it has the potential to boost the productivity and accuracy of imaging solutions. This is also projected to add traction to the market growth.

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The increasing popularity of the market can be accredited to the numerous benefits of AI solutions such as enhanced efficiency of the pathologists, radiologists, and other diagnosticians. AI-enabled imaging solutions also have the capacity to boost the volume of the diagnostic imaging procedures in diagnostic centers and hospitals. AI-enabled medical solutions are expected to observe a surging demand owing to their increased capability of detecting cancer at early stages and tracking the cancer tumors’ progression.

The development of advanced algorithms has aided in the progress of the AI-enabled medical imaging solutions market. The advent of innovative solutions for medical imaging provided by small scale and large scale manufacturers has also added traction to the market growth. Moreover, rising initiatives by the government to develop advanced and resilient healthcare infrastructure are also projected to fuel the market growth in the forthcoming years.

Key Highlights from the Report:  

  • The computed tomography (CT) segment is foreseen to expand at a high CAGR in the projected timeframe owing to the rising prevalence of changing lifestyles and chronic diseases such as cancer and cardiovascular disorders. This is driving the demand for advanced imaging solutions, thereby boosting the market growth.
  • Machine learning is highly advantageous as the image acquisition process can increase the efficiency of the process right from the automated selection of the imaging protocol to ensuring the patient is correctly positioned for the scanning. It leads to lesser repeats and saves time for both the physician and the patient.
  • North America accounted for a significantly large share of the market owing to surging demand for AI-based medical techniques from the United States. The presence of key market players, advanced healthcare facilities, favorable reimbursement scenarios, and the expanding R&D activities are also projected to drive regional growth.
  • Major companies of the market include Arterys Inc., Aidoc, Beijing Infervision Technology Co., Ltd., Blackford Analysis Limited, EnvoyAI, Nuance Communications, Inc., General Electric Company, ContextVision AB, Fujifilm Holdings Corporation, and iCAD, Inc., among others.
  • In November 2020, Google Cloud Health API and Claritas HealthTech joined forces to introduce tRAD. The technology is a novel AI-powered telehealth-radiology platform that enables patients to have online access to their medical reports, radiology images, and can efficiently communicate with their physicians.  

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For the purpose of this report, Emergen Research has segmented the global AI-Enabled Medical Imaging Solutions Market on the basis of product, workflow, therapeutic application, deployment mode, modality, and region:

Product Outlook (Revenue, USD Billion; 2017-2027)

  • Software
    • Subscription Software License
    • Perpetual Software License
    • Fee-Per Case Software License
    • Hardware

Workflow Outlook (Revenue, USD Billion; 2017-2027)

  • Image Acquisition
  • Image Analysis
  • Reporting and Communication
  • Predictive Analysis and Risk Assessment
  • Detection
  • Triage
  • Diagnosis and Treatment Decision Support
  • Equipment Maintenance

Therapeutic Application Outlook (Revenue, USD Billion; 2017-2027)

  • General Imaging
  • Specialty Imaging
    • Oncology
    • Neurology
    • Orthopedics
    • Cardiology
    • Respiratory
    • Others

Deployment Mode Outlook (Revenue, USD Billion; 2017-2027)

  • On-Premise Solutions
  • Cloud- and Web-Based Solutions

Modality Outlook (Revenue, USD Billion; 2017-2027)

  • Magnetic Resonance (MR)
  • X-Ray
  • Imaging Systems
  • Computed Tomography (CT)
  • Ultrasound
  • Mammography
  • Multimodality Imaging Systems
  • Others

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Regional Outlook (Revenue, USD Billion; 2017-2027)

  • North America
    • U.S.
    • Canada
    • Mexico
    • Europe
      • Germany
      • U.K.
      • France
      • BENELUX
      • Rest of Europe
      • Asia Pacific
        • China
        • Japan
        • South Korea
        • Rest of APAC
        • Latin America
          • Brazil
          • Rest of LATAM
          • Middle East & Africa
            • Saudi Arabia
            • U.A.E.
            • Rest of MEA

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