Global Artificial Intelligence (AI) in Medical Imaging Market - Focused Insights 2024-2029

ARTIFICIAL INTELLIGENCE IN MEDICAL IMAGING MARKET INSIGHTS

The global artificial intelligence (AI) in medical imaging market size was valued at USD 2.80 billion in 2023 and is expected to reach USD 29.28 billion by 2029, growing at a CAGR of 47.84% during the forecast period. The AI in medical imaging market is experiencing significant growth, driven by widespread adoption across major specialties and modalities. Increased radiologist awareness of advanced imaging technologies, which enhance image quality and accuracy while reducing workload, is fueling this expansion. AI-based medical imaging integrates AI to analyze medical images, improving abnormality detection across various modalities and specialties. AI is currently deployed as software, tools, and platforms to identify diverse diseases.

ARTIFICIAL INTELLIGENCE IN MEDICAL IMAGING MARKET TRENDS & DRIVERS

Revolutionary AI: New Horizons in Deep Learning and Neural Networks

AI is driving significant advancements in medical imaging, enhancing diagnostic accuracy, efficiency, and cost-effectiveness. Deep learning, particularly CNNs and RNNs, enables sophisticated image analysis, including segmentation and pattern recognition. NLP streamlines reporting and enhances clinical decision support. Integration with PACS, RIS, and cloud solutions optimizes workflows and fosters collaboration. Enhanced imaging techniques and real-time processing improve image quality and detail. AI supports predictive analytics and personalized medicine by assessing risk and tailoring treatments. Regulatory approvals and standardization efforts ensure safety and consistency, while collaborative research and open data accelerate AI implementation in medical imaging.

Intergating Virtual and Augmented Reality with 3D Medical Imaging

VR/AR is revolutionizing medical imaging, especially in surgical applications. AR enhances surgical precision by superimposing 3D medical images onto the patient, enabling real-time guidance and improved navigation. This technology allows surgeons to visualize hidden structures and reduces the risk of complications. AR also provides vital patient data overlays, supporting informed decisions during complex surgeries. The integration of VR/AR with 3D imaging offers transformative benefits, improving surgical precision and patient outcomes.

Meeting Medical Imaging Needs through AI-Powered Solutions

The rising prevalence of chronic diseases is driving a surge in medical imaging demand, straining healthcare systems. AI is transforming medical imaging by automating analysis and interpretation, enhancing diagnostic efficiency and accuracy. This facilitates early disease detection and personalized treatments. The convergence of chronic disease growth and AI adoption promises improved patient outcomes and workflow efficiency. With demand for diagnostic procedures increasing annually, particularly for cancer imaging and expanded CT scanning indications, AI's role in addressing these challenges will continue to expand.

ARTIFICIAL INTELLIGENCE IN MEDICAL IMAGING MARKET SEGMENTATION INSIGHTS

• By Technology Type: The deep learning segment held the largest AI in medical imaging market share in 2023 and is expected to maintain its lead. Technological advancements, increasing healthcare demands, and favorable regulatory environments are driving this growth. Innovations in AI algorithms, enhanced computational power, and seamless integration with medical systems will further accelerate deep learning's adoption. This will result in improved diagnostic accuracy and earlier, more precise disease detection, ultimately enhancing patient outcomes.
• By Application Type: The neurology application segment is experiencing the most rapid growth in the AI medical imaging market. This growth is fueled by the increasing adoption of AI in neuroscience, which has transformed brain imaging analysis through machine learning. AI accurately identifies patterns and anomalies in MRI, fMRI, and PET scans, facilitating the diagnosis of neurological disorders. Furthermore, AI streamlines drug discovery for neurological diseases by predicting drug efficacy and safety, thereby accelerating development and reducing costs.
• By Modalities Type: The MRI segment is experiencing the highest growth within the AI medical imaging market. AI-enhanced MRI significantly improves diagnostic accuracy, with GE Healthcare demonstrating over 80% accuracy and sensitivity, and 87% specificity. Particularly in Alzheimer's disease, AI is poised to transform MRI by enabling quantitative imaging, leveraging extensive data to improve diagnosis and treatment, thereby fueling segmental expansion.
• By End-User Type: The hospital segment holds the largest share of the global AI in medical imaging market, primarily due to the extensive use of medical imaging technologies for diagnostic purposes. The rising incidence of chronic diseases has driven a surge in hospital imaging demands, placing significant pressure on radiologists and conventional systems. AI integration, leveraging deep learning and natural language processing, has effectively improved hospital productivity and efficiency.

ARTIFICIAL INTELLIGENCE IN MEDICAL IMAGING MARKET GEOGRAPHICAL ANALYSIS

The US dominates the North American and global AI in medical imaging market. This market is experiencing significant growth due to technological advancements, increasing chronic disease prevalence, and the need for accurate diagnostic tools. The high adoption rate in the US is attributed to radiologist and hospital preferences for AI software, supported by a strong healthcare system. Ongoing R&D investments are expected to further expand AI adoption, with a focus on enhancing diagnostic accuracy, patient outcomes, and workflow efficiency.

ARTIFICIAL INTELLIGENCE IN MEDICAL IMAGING MARKET VENDOR LANDSCAPE

The global AI in medical imaging market, featuring 46 vendors, is highly fragmented with limited global presence. Regional and local players offer diverse AI solutions. Major global players include Siemens Healthineers, GE, Philips, IBM Watson Health, and Fujifilm. These companies focus on innovative product development and portfolio expansion through substantial R&D investments.