The Global Artificial Intelligence (AI) Enabled Medical Imaging Components Market size was valued at around USD 3.23 billion in 2023 & is projected to reach around USD 16.20 billion by 2030. Along with this, the market is estimated to grow at a CAGR of around 25.9% during the forecast period, i.e., 2025-30. According to MarkNtel Advisors Study.
Global Artificial Intelligence (AI) Enabled Medical Imaging Components Market Driver:
Shortage of Radiologists Necessitating AI Adoption – The market revenue growth has been primarily credited to the shortage of radiologists to cater to the growing global patient population pool. This, thereby affects the quality and efficiency of diagnostic services and fosters the acceptance and utilization of artificial intelligence (AI) enabled medical imaging. Hence, its applications in radiology would augment the competencies of radiologists leading to faster and more accurate diagnoses.
Furthermore, because imaging biomarkers are crucial for the early diagnosis, monitoring, and detection of diseases, their use in clinical settings is increasing. However, the enormous volumes of data produced by imaging biomarkers would need the implementation of advanced technology for analysis and interpretation, requiring additional manual work. As a result, there is an increasing dependence on artificial intelligence (AI) in medical imaging due to the rising integration of imaging biomarkers and the severe radiologists shortage. Because of this, there will be a continued increase in demand in the future years for AI-enabled imaging solutions. So, if such a shortage of skilled radiologists continues, the AI-enabled medical imaging market is anticipated to grow & flourish in the coming years at a steady growth rate.
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Key Market Reports Highlights
- Market Dimensions & Projections
- Pricing Evaluation
- Recent Strategic Moves by Companies
- Primary Stakeholders
- Import/Export Trend Analysis
- Competitive Landscape Assessment
- Emerging Opportunities
- Market Trends and Indicators
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Global Artificial Intelligence (AI) Enabled Medical Imaging Components Market Segmentation:
The market report categorizes the market based on different segments and geographical analysis.
Study Timeline:
-Base Year: 2024
-Historical Period: 2020 to 2023
-Forecast Period: 2025 to 2030
- By Component
- Hardware- Market Size & Forecast 2020-2030F, (USD Million)
- Software- Market Size & Forecast 2020-2030F, (USD Million)
- Perpetual Software License- Market Size & Forecast 2020-2030F, (USD Million)
- Subscription Software License- Market Size & Forecast 2020-2030F, (USD Million)
- Pay as You Go Software License- Market Size & Forecast 2020-2030F, (USD Million)
- By Workflow
- Image Analysis- Market Size & Forecast 2020-2030F, (USD Million)
- Image Acquisition- Market Size & Forecast 2020-2030F, (USD Million)
- Detection- Market Size & Forecast 2020-2030F, (USD Million)
- Reporting & Communication- Market Size & Forecast 2020-2030F, (USD Million)
- Diagnosis & Treatment Decision Support- Market Size & Forecast 2020-2030F, (USD Million)
- Predictive Analysis & Risk Assessment- Market Size & Forecast 2020-2030F, (USD Million)
- Equipment Maintenance- Market Size & Forecast 2020-2030F, (USD Million)
- Triage- Market Size & Forecast 2020-2030F, (USD Million)
- By Technology
- Deep Learning- Market Size & Forecast 2020-2030F, (USD Million)
- Machine Learning- Market Size & Forecast 2020-2030F, (USD Million)
- Computer Vision- Market Size & Forecast 2020-2030F, (USD Million)
- Natural Language Processing (NLP)- Market Size & Forecast 2020-2030F, (USD Million)
- Others- Market Size & Forecast 2020-2030F, (USD Million)
- By Therapeutic Application
- Specialty Imaging- Market Size & Forecast 2020-2030F, (USD Million)
- Cardiology- Market Size & Forecast 2020-2030F, (USD Million)
- Oncology- Market Size & Forecast 2020-2030F, (USD Million)
- Lung Cancer- Market Size & Forecast 2020-2030F, (USD Million)
- Breast Cancer- Market Size & Forecast 2020-2030F, (USD Million)
- Other Cancers- Market Size & Forecast 2020-2030F, (USD Million)
- Neurology- Market Size & Forecast 2020-2030F, (USD Million)
- Respiratory- Market Size & Forecast 2020-2030F, (USD Million)
- Orthopedics- Market Size & Forecast 2020-2030F, (USD Million)
- Others- Market Size & Forecast 2020-2030F, (USD Million)
- General Imaging- Market Size & Forecast 2020-2030F, (USD Million)
- Specialty Imaging- Market Size & Forecast 2020-2030F, (USD Million)
- By Deployment
- Cloud- Market Size & Forecast 2020-2030F, (USD Million)
- On-Premise- Market Size & Forecast 2020-2030F, (USD Million)
- By Modality
- Computed Tomography- Market Size & Forecast 2020-2030F, (USD Million)
- Magnetic Resonance- Market Size & Forecast 2020-2030F, (USD Million)
- Ultrasound- Market Size & Forecast 2020-2030F, (USD Million)
- X-Ray- Market Size & Forecast 2020-2030F, (USD Million)
- Mammography- Market Size & Forecast 2020-2030F, (USD Million)
- Multimodality Imaging Systems- Market Size & Forecast 2020-2030F, (USD Million)
- Others- Market Size & Forecast 2020-2030F, (USD Million)
- By End Users
- Hospitals- Market Size & Forecast 2020-2030F, (USD Million)
- Clinics- Market Size & Forecast 2020-2030F, (USD Million)
- Diagnostics Centers- Market Size & Forecast 2020-2030F, (USD Million)
- Others- Market Size & Forecast 2020-2030F, (USD Million)
- By Region
- North America
- South America
- Europe
- Middle East & Africa
- Asia-Pacific
Competitive Landscape
With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including – Aidoc, Arterys Inc., Beijing Infervision Technology Co., Ltd., Blackford Analysis Limited, ContextVision AB, EnvoyAI, Fujifilm Holdings Corporation, General Electric Company, iCAD, Inc., Koninklijke Philips N.V., Mirada Medical Limited, NVIDIA Corporation, Nuance Communications, Inc., Resonance Health Ltd., Samsung Electronics Co., Ltd., and others are looking forward to strengthening their market positions.
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Global Artificial Intelligence (AI) Enabled Medical Imaging Components Industry Recent Development:
2024: GE HealthCare announced an agreement to acquire MIM Software Inc., a Cleveland-based provider of AI imaging-analysis software.
2023: Philips introduced new AI-enabled solutions, including EPIQ Elite 10.0 and Philips Affiniti ultrasound systems, BlueSeal MR Mobile system, and the Philips HealthSuite Imaging PACS solution in the US.
2023: Research and product development initiatives were jointly carried out by GE HealthCare (US) and Mayo Clinic (US) to better prepare doctors and aid in the diagnosis and treatment of medical disorders.
2022: Nuance Communications, Inc. and NVIDIA announced a cooperation aimed at providing better patient care at lower costs. This agreement puts AI-based diagnostic tools in the hands of radiologists and other clinicians at scale for the first time.
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