Artificial Intelligence (AI) in Medical Imaging Market Research Report Information by Technology (Deep Learning, Natural Language Processing (NLP), and Others), By Component (Solutions and Services), By Modalities (Computed Tomography (CT), X-rays, Magnetic Resonance Imaging (MRI), Ultrasound, Others), By Indication (Oncology, Neurology, Cardiology, Orthopaedic, Gynaecology, and Others), By Application (Clinical Decision Support, Computer-aided Diagnosis, and Computer-aided Detection), By End User (Diagnostic Centers, Hospitals & Clinics, a

Global Artificial Intelligence (AI) in Medical Imaging Market Overview

Artificial Intelligence (AI) in Medical Imaging Market size was valued at USD 1.88 billion in 2022. The global AI in medical imaging market industry is projected to grow from USD 2.56 billion in 2023 to USD 21.90 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 38.9% during the forecast period (2023 - 2030).

The rising number of AI-powered medical imaging start-ups and increasing funding & investment for AI in medical imaging are attractive and imperative driving forces for the market.  

Artificial Intelligence (AI) in Medical Imaging Market Trends

• RISING NUMBER OF AI-POWERED MEDICAL IMAGING START- UPS

The current era is the driving force for AI in the medical imaging market. This is due to the fact that the software provides an advantage to physicians by allowing them to diagnose diseases considerably faster and allowing for earlier intervention. Moreover, emerging AI-driven start-ups are emphasizing and bringing advanced features to AI medical imaging solutions. There are numerous AI-powered start-ups from across the globe, including Viz.ai, Inc. (Israel), Aidoc (Israel), Lunit Inc. (South Korea), Suzhou Voxel Information Technology Co., Ltd. (China), and Arterys (US), which are bringing innovative solutions to meet the demand of physicians.

Furthermore, increasing funding & investment for AI in medical imaging is necessary to advance AI in medical imaging. For instance, in January 2023, oxipit.ai (Lithuania) raised USD 4.9 million in funding to bring fully autonomous AI medical imaging and expand the market in new geographic areas, with a major focus on the UK. 

Therefore, the growing number of AI-driven start-ups worldwide and increasing funding to bring fully autonomous AI medical imaging tools are propelling market growth.

Artificial Intelligence (AI) in Medical Imaging Segment Insights

Artificial Intelligence (AI) in Medical Imaging Technology Insights

The global AI in medical imaging market is segmented, based on technology, into deep learning, natural language processing (NLP), and others. Deep learning held the largest market share in 2022, and NLP is the fastest-growing segment during the forecast period. Deep learning technology assists physicians and radiologists in diagnosing patients with accuracy. Moreover, one of the prominent drivers that drive the growth of the technology segment is providing an early diagnosis.

Artificial Intelligence (AI) in Medical Imaging Component Insights

The global AI in medical imaging market segmentation, based on component, includes solutions and services. The solutions segment dominated the market in 2022 and is the fastest-growing segment during the forecast period, 2023–2030. This is due to the increasing number of product launches based on solutions that can detect unsuspected pathologies on computed tomography (CT). For instance, in February 2023, Avicenna.AI (France) launched a solution, namely CINA-iPE an AI tool to diagnose incidental pulmonary embolism through a chest CT scan.

FIGURE 2: ARTIFICIAL INTELLIGENCE (AI) IN MEDICAL IMAGING MARKET, BY COMPONENT, 2022 & 2030 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Artificial Intelligence (AI) in Medical Imaging Modalities Insights

The global AI in the medical imaging market has been segmented based on modalities, including computed tomography (CT), x-rays, magnetic resonance imaging (MRI), ultrasound, and others. The CT segment dominated the market in 2022 and X-ray is the fastest-growing segment during the forecast period, 2023–2030. Artificial intelligence (AI) in CT enables a reduction in patient radiation dose with automation. Moreover, as per the research, the AI in the X-ray will assists in alleviating the heavy load on radiologists, worldwide.

Artificial Intelligence (AI) in Medical Imaging Indication Insights

Based on indication, the global AI in the medical imaging market has been segmented into oncology, neurology, cardiology, orthopaedic, gynaecology, and others. The oncology segment held the largest market share in 2022, and neurology registered the highest CAGR during the forecast period. This is due to the increasing prevalence of neurological diseases worldwide. As per the World Health Organization, there were 55 million people suffering from dementia until March 2023, globally, and low- and middle-income countries (LMIC) account for approximately 60%. Furthermore, AI in MRI can detect structural brain lesions as well.

Artificial Intelligence (AI) in Medical Imaging Application Insights

On the basis of application, global AI in medical imaging has been segmented into clinical decision support, computer-aided diagnosis, and computer-aided detection. The computer-aided diagnosis segment held the largest market share in 2022, and clinical decision support is the fastest-growing segment during the review period, i.e., 2023–2030.  The computer-aided diagnosis provides a benefit that integrates machine learning, deep learning, image processing, and computer vision, which assists radiologists in making medical decisions.

Artificial Intelligence (AI) in Medical Imaging End User Insights

Based on the end user, global AI in medical imaging has been segmented into diagnostic centers, hospitals & clinics, and others. The diagnostic centres segment held the largest market share in 2022 and hospitals & clinics held the second largest market share, while diagnostic centers is the fastest-growing segment during the forecast period. This is due to the inaccessibility of radiologists in emerging countries. In 2019, the data from HealthManagement (Belgium) clarifies that in the entire continent of Africa, except Egypt and South Africa, there were only six paediatric radiologists. Furthermore, the AI in imaging tools assist in accessing care in places where a skilled radiologist lacks it.

Artificial Intelligence (AI) in Medical Imaging Regional Insights

By region, the study segments the market into North America, Europe, Asia-Pacific, and the rest of the world. North America AI in medical imaging held the largest market share in 2022, due to the high adoption of technological advancements, the increasing prevalence of cancer and heart diseases, and the presence of major and active players including Nuance Communications, Inc. (US), Arterys (US), Body Vision Medical, Inc. (US), Butterfly Network (US), and CureMetrix, Inc. (US).

Further, the major countries studied are: The US, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

FIGURE 3: ARTIFICIAL INTELLIGENCE (AI) IN MEDICAL IMAGING MARKET, BY REGION, 2022 & 2030 (USD BILLION)

Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe AI in medical imaging market accounted for the second-largest market share due to the high adoption of technological innovations, increasing healthcare expenditure, and favorable government support. In November 2022, according to the Regulatory Horizons Council, the UK government invested in the AI healthcare technology sector. For instance, approximately USD 174.11 million of the National Health Service AI Health and Care Award was funded for various AI health technologies; therefore, such funding through the government associated with AI is a significant driving force for the Europe region's AI in the medical imaging market.

The Asia-Pacific AI in medical imaging market has registered the highest CAGR during the forecast period, owing to the improving healthcare infrastructure, technology adoption, and growing incidence of cancer. According to GLOBOCAN 2020, the cancer ratio in Asia accounted for up to 49.3% for both sexes and all ages. China AI market in medical imaging market held the largest market share in 2022 and is projected to be the fastest-growing market in the Asia-Pacific region.

Artificial Intelligence (AI) in Medical Imaging Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the AI in medical imaging market grow even more. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the AI in medical imaging industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

GE Healthcare (US) is a market leader in healthcare technology. The company offers a diverse product portfolio under the categories of equipment, pharmaceutical imaging agents, healthcare IT, and pharmaceutical IT. GE has a strong market presence in North America, Europe, Asia-Pacific, the Middle East, and Africa, with operations across more than 170 countries. Furthermore, in February 2023, the company acquired Caption Health (US), a medical business that develops ultrasound examinations with artificial intelligence (AI).

Key Companies in the Artificial Intelligence (AI) in Medical Imaging Market Includes

• GE Healthcare (US)


• Canon Medical Systems Corporation (Japan)


• FUJIFILM Visualsonics, Inc. (Canada)


• Siemens Healthineers (Germany)


• Koninklijke Philips N.V. (Netherlands)


• IBM Corporation (US)


• Butterfly Network (US)


• AGFA HealthCare (US)


• Arterys (US)


• 3M (US)


• Others

Artificial Intelligence (AI) in Medical Imaging Industry Developments

• March 2023: Butterfly Network (US) received 510 (K) clearance for an AI-enabled auto-b-line counter. This product empowers providers to assess lung conditions faster as well as earlier detect and diagnose cardiovascular diseases.


• April 2021: Canon Medical Systems Corporation (Japan) expanded an AI-based image reconstruction technology in the Galan 3T MR System. This expansion assists in improving inaccessible image quality through AI. Furthermore, this system is utilize to diagnose clinical indications from the prostate to the shoulders, including all joints, the abdomen, the cardiac system, the pelvis, and the spine.

Artificial Intelligence (AI) in Medical Imaging Market Segmentation

Artificial Intelligence (AI) in Medical Imaging Technology Outlook

• Deep Learning


• Natural Language Processing (NLP)


• Others

Artificial Intelligence (AI) in Medical Imaging Component Outlook

• Solutions


• Services

Artificial Intelligence (AI) in Medical Imaging Modalities Outlook

• Computed Tomography (CT)


• X-rays


• Magnetic Resonance Imaging (MRI)


• Ultrasound


• Others

Artificial Intelligence (AI) in Medical Imaging Indication Outlook

• Oncology


• Neurology


• Cardiology


• Orthopaedic


• Gynaecology


• Others

Artificial Intelligence (AI) in Medical Imaging Application Outlook

• Clinical Decision Support


• Computer-aided Diagnosis


• Computer-aided Detection

Artificial Intelligence (AI) in Medical Imaging End User Outlook

• Diagnostic Centers 


• Hospitals & Clinics


• Others

Artificial Intelligence (AI) in Medical Imaging Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America