PUBLISHER: The Business Research Company | PRODUCT CODE: 1499774
PUBLISHER: The Business Research Company | PRODUCT CODE: 1499774
AI-enabled imaging solutions encompass technologies that utilize artificial intelligence (AI) algorithms to enhance diverse aspects of image acquisition, processing, analysis, and interpretation across medical, industrial, and other sectors. These solutions employ machine learning techniques to automate tasks traditionally performed by humans, such as image recognition, segmentation, and classification, thereby enhancing efficiency, accuracy, and decision-making processes.
The primary offerings of AI-enabled imaging solutions include software tools or platforms and related services. Software tools or platforms are applications or platforms designed to facilitate specific tasks or processes within a computer system. These solutions incorporate various image acquisition technologies, predominantly X-ray, computed tomography, magnetic resonance imaging, ultrasound imaging, and molecular imaging. They leverage technologies such as machine learning, natural language processing, context-aware computing, and computer vision, catering to diverse end-users such as hospitals, clinics, research laboratories, diagnostic centers, and cybersecurity entities.
The AI-enabled imaging solutions market research report is one of a series of new reports from The Business Research Company that provides AI-enabled imaging solutions market statistics, including AI-enabled imaging solutions industry global market size, regional shares, competitors with a AI-enabled imaging solutions market share, detailed AI-enabled imaging solutions market segments, market trends and opportunities, and any further data you may need to thrive in the AI-enabled imaging solutions industry. This AI-enabled imaging solutions market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The AI-enabled imaging solutions market size has grown exponentially in recent years. It will grow from $2.52 billion in 2023 to $3.22 billion in 2024 at a compound annual growth rate (CAGR) of 27.9%. The expansion observed in the historical period can be attributed to several factors, including increased demand for precise diagnostics and treatment planning, growth in healthcare spending, a rise in the prevalence of chronic diseases, the expansion of AI-enabled imaging solutions in oncology, government initiatives aimed at healthcare improvement, and increased funding for AI research and healthcare infrastructure development.
The AI-enabled imaging solutions market size is expected to see exponential growth in the next few years. It will grow to $8.67 billion in 2028 at a compound annual growth rate (CAGR) of 28.1%. The projected growth in the forecast period can be attributed to the expansion of telemedicine, a growing emphasis on preventive healthcare, increasing partnerships and collaborations between healthcare providers and AI solution providers, and the development of evolving regulatory frameworks and ethical guidelines. Significant trends anticipated in the forecast period encompass advancements in AI algorithms, the integration of multiple imaging modalities, the adoption of cloud-based AI solutions, a growing emphasis on explainable AI (XAI), and the implementation of edge computing in AI-enabled imaging devices.
The increase in breast cancer cases is expected to drive the growth of the AI-enabled imaging solutions market in the future. Breast cancer involves the abnormal growth of cells in breast tissue, potentially forming malignant tumors that can spread to other areas of the body. Lifestyle changes, such as diet, physical inactivity, and hormonal factors, contribute to the rise in breast cancer cases, leading to a greater demand for comprehensive healthcare solutions. AI-enabled imaging solutions play a crucial role in early breast cancer detection by automating the analysis of mammograms, thereby improving diagnostic accuracy and enabling timely intervention to enhance patient outcomes. For example, according to the American Cancer Society, the number of breast cancer cases in the United States increased from 284,200 in 2021 to 300,590 in 2023, representing a growth of 5.76%. Thus, the increase in breast cancer cases is fueling the expansion of the AI-enabled imaging solutions market.
Key players in the AI-enabled imaging solutions market are focused on developing advanced solutions, such as AI-enabled MRI systems, to drive revenue growth. AI-enabled MRI systems are equipped with artificial intelligence capabilities to enhance image acquisition, processing, analysis, and interpretation. For instance, in December 2023, GE Healthcare Technologies Inc., a US-based medical technology company, introduced SIGNA Champion, an AI-enabled MRI system featuring advanced AI and deep learning capabilities like AIR Recon DL and Sonic DL, enabling faster and more precise scans. The system also prioritizes sustainability and operational benefits with a smaller footprint and improved power efficiency. Additionally, GE Healthcare launched SIGNA PET/MR AIR, integrating AI technologies to enhance diagnosis and treatment for conditions such as prostate cancer and Alzheimer's disease.
In February 2023, GE Healthcare Technologies Inc., a US-based company specializing in medical technology and imaging solutions, acquired Caption Health Inc. for an undisclosed sum. This acquisition strengthens GE Healthcare's ultrasound division by incorporating AI-powered image guidance into its ultrasound device portfolio. Caption Health Inc. is a US-based medical technology company specializing in AI-powered imaging services.
Major companies operating in the AI-enabled imaging solutions market are Medtronic PLC, NVIDIA Corporation, Siemens Healthineers, Fujifilm Holdings Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Zebra Medical Vision Ltd., Hologic Inc., Agfa-Gevaert Group, Samsung Medison Co. Ltd., Konica Minolta Healthcare Americas Inc., Intelerad Medical Systems, Hitachi Medical Systems, Merative L.P., Canon Medical Systems Corporation, Aidoc Medical Ltd., Butterfly Network Inc., HeartFlow Inc., Arterys Inc., Caption Health Inc., EchoNous Inc., Vuno Inc., Mirada Medical Limited, Resoundant Inc., Lunit Inc.
North America was the largest region in the AI-enabled imaging solutions market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the AI-enabled imaging solutions market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the AI-enabled imaging solutions market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The AI-enabled imaging solutions market consists of revenues earned by entities providing services, such as AI-powered image analysis, automated diagnosis, image enhancement, predictive analytics, and workflow optimization to improve diagnostic accuracy and patient outcomes. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
AI-Enabled Imaging Solutions Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on AI-enabled imaging solutions market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for AI-enabled imaging solutions? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The AI-enabled imaging solutions market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
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The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.