The Global Artificial Intelligence (AI) Enabled Medical Imaging Market is projected to grow at a CAGR of 29% in the forecast period of 2021-26, cites MarkNtel Advisors in their recent research report. The market is driven by the rapidly increasing patient inflow throughout the world, causing significant complexities in the management of datasheets, augmenting the demand for AI for medical imaging and other processes to minimize human errors.
Besides, a rise in the number of medical imaging & radiology startups entwined with the growing acceptance of AI medical imaging across the healthcare industry with intelligent algorithms to analyze data & help doctors in screening, assessing, and diagnosing patients are also stimulating the industry.
Furthermore, escalating the adoption of this technology by multiple pharmaceutical companies and bolstering investments by the hospitals in the procurement of these technologies for medical imaging are the other aspects curating the fundamentals underlying the market dynamics through 2026, further states the research report, “Global Artificial Intelligence (AI) Enabled Medical Imaging Market Analysis, 2021”
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High Prevalence of Cancers to Augment the Demand for Computed Tomography & Drive the Market
Based on Modality, Computed Tomography dominated the Global Artificial Intelligence (AI) Enabled Medical Imaging Market with the largest share in recent years and is anticipated to prevail in the same trend during the forecast period.
This growth is driven by the growing prevalence of developing cancer from radiation exposure using CT scans, instigating prominent companies to develop effective solutions like Artificial Intelligence (AI) Enabled Medical Imaging to reduce radiation dose from CT without compromising its diagnostic performance.
It, in turn, is playing a prominent role in stimulating the overall industry growth through 2027. Countries like the US, and China, among others, with high case registration for cancers, are likely to remain the prominent consumers of these technologies in the healthcare sector in the coming years.
Massive Healthcare Expenditure across North America to Stimulate the Market Growth
On the geographical front, North America acquired the largest share of the Global Artificial Intelligence (AI) Enabled Medical Imaging Market in recent years and is anticipated to prevail in the same trend during the forecast period. This dominance attributes to the mounting prevalence of chronic diseases, instigating healthcare facilities to escalate the adoption of AI to effectively manage imaging data.
Besides, massive support by the governments of different countries like the US & Canada in the region through investments & procurement of these solutions in the healthcare industry to cater to the unmet needs of the patient is further fueling the demand for these technology-based medical imaging solutions and driving the market across North America.
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Competitive Landscape
The leading players in the Global Artificial Intelligence (AI) Enabled Medical Imaging Market are 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., and Samsung Electronics Co., Ltd.
Key Questions Answered in the Research Report
- What are the current & future trends in the Global Artificial Intelligence (AI) Enabled Medical Imaging Market?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping across various regions, followed by their comparative factorial indexing?
- What are the key growth drivers & challenges for the Global Artificial Intelligence (AI) Enabled Medical Imaging Market?
- What are the customer orientation, purchase behavior, & expectations from Artificial Intelligence (AI) Enabled Medical Imaging manufacturers across various regions?
Market Segmentation:
- By Component (Hardware, Software (Perpetual Software License, Subscription Software License, Pay as You Go Software License))
- By Workflow (Image Analysis, Image Acquisition, Detection, Reporting & Communication, Diagnosis & Treatment Decision Support, Predictive Analysis & Risk Assessment, Equipment Maintenance, Triage)
- By Therapeutic Application (Specialty Imaging (Cardiology, Oncology (Lung Cancer, Breast Cancer, Other Cancers)), Neurology, Respiratory, Orthopedics), General Imaging)
- By Deployment (Cloud, On-Premise)
- By Modality (Computed Tomography, Magnetic Resonance, Ultrasound, X-Ray, Mammography, Multimodality Imaging Systems)
- By Region (North America, South America, Europe, Middle East & Africa, Asia Pacific)
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