The global AI-based Medical Imaging market was valued at USD 764.44 million in the year 2021 with the North American region leading the regional market share. Some of the key factors driving the AI-based Medical Imaging market growth are the growing prevalence of chronic diseases, rising geriatric population, technological advancements in medical diagnosis, increased demand for AI tools in the medical field, an influx of large and complex datasets and an increase in cross-industry partnerships and collaborations. All these factors will be driving the adoption of AI-based technologies in medical diagnosis.
Furthermore, constantly rising healthcare expenditure by individuals and governments across the globe is fuelling the demand for high-quality healthcare services such as AI-based medical imaging. The Asia Pacific is estimated to be the fastest-growing region owing to the rising prevalence of diseases and the increasing population. Furthermore, rapidly evolving healthcare infrastructure in Asian countries such as China, India and South Korea is boosting the market growth.
COVID-19 has had a positive impact on the AI-based medical imaging market. This is due to the growing demand for imaging CT scans during the pandemic to detect various chest infections, ultrasounds and MRIs among the patients. The demand for portable ultrasound devices has increased tremendously. Government organizations invested huge amounts in these platforms to lower the risk of COVID 19. Moreover, AI-based diagnosis of ultrasound presents a faster delivery of contactless diagnosis procedures, which reduces the transmission rate of the virus.
In 2021, GE Healthcare announced the acquisition of BK Medical, a leader in advanced surgical visualisation worth USD 3 Billion. With this acquisition, GE Healthcare has added a fast-growing and new field of real-time surgical visualization to its operative Ultrasound capabilities. This acquisition is likely to expand GE Healthcare’s Ultrasound business from diagnostics to surgical and therapeutic interventions. Real-time advanced visualization ensures better care, faster surgeries and reduced complications in patient diagnosis.
Scope of the Report
• The report presents the analysis of AI-based Medical Imaging Market for the historical period of 2017-2021 and the forecast period of 2022-2027.
• The report analyses the AI-based Medical Imaging Market by Value (USD Million).
• The report analyses the AI-based Medical Imaging Market by Image acquisition technology (X-ray, Ultrasound, MRI, CT Scan, Others).
• The report analyses the AI-based Medical Imaging Market by Application (Neurology, Respiratory System, Oncology, Cardiovascular, Others)
• The report analyses the AI-based Medical Imaging Market by End User (Hospitals, Clinics and Others)
• The Global AI-based Medical Imaging Market has been analysed By Region (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
• The Global AI-based Medical Imaging Market has been analysed By Country (United States, Canada, Germany, United Kingdom, France, Italy, China, Japan, India, South Korea).
• The key insights of the report have been presented through the frameworks of leading company market share. Also, the attractiveness of the market has been presented by region, by Image acquisition technology, by Application and by End User.
• Also, the major opportunities, trends, drivers and challenges of the industry have been analysed in the report.
• The report tracks major technological innovations, mergers & acquisitions and the role of manufacturers. The companies analysed in the report include IBM Watson Health, GE Healthcare, Philips, Butterfly Network, Nano-X, Hologic, Lunit, Artery's and Siemens Healthineers.
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