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The Artificial Intelligence in Medical Imaging Market grew from USD 1.24 billion in 2023 to USD 1.57 billion in 2024. It is expected to continue growing at a CAGR of 26.87%, reaching USD 6.57 billion by 2030. Speak directly to the analyst to clarify any post sales queries you may have.
The artificial intelligence (AI) in medical imaging market is a rapidly evolving sector, leveraging AI technologies to enhance diagnostic accuracy, streamline imaging processes, and ultimately improve patient outcomes. Necessity arises from the immense volume of imaging data that necessitates quick yet accurate analysis, which AI can provide by automating image segmentation, anomaly detection, and predictive analytics. Applications extend across radiology, pathology, and oncology, where AI assists in image interpretation, reducing human error and workload. The end-use scope encompasses hospitals, diagnostic imaging centers, and research institutions. Market growth is driven by increasing demand for efficient diagnostic methods and advancements in AI technology, which reduce operational costs and improve treatment efficiency. Moreover, the integration of AI with existing radiology databases and imaging devices promises continued enhancement in imaging techniques. Opportunities lie in developing AI tools that offer not only diagnostic capabilities but also predictive analytics for personalized treatment plans. To capitalize on these, stakeholders should invest in partnerships between tech firms and healthcare providers to create AI solutions tailored to specific medical disciplines. Nonetheless, the market faces limitations, such as regulatory hurdles, data privacy concerns, and the need for significant initial investment. Moreover, challenges like the potential bias in AI algorithms and the lack of adequately trained professionals to handle AI tools can impede growth. Innovations in this sector should focus on improving AI's interpretability and reliability, ensuring adherence to regulatory standards, and developing advanced AI models with robust training datasets that minimize bias. The market is characterized by a competitive nature, with several key players investing in R&D to maintain their edge. For sustained growth, companies should concentrate on research areas that enhance AI's adaptability to various imaging technologies, ensuring systems are scalable and secure, thereby addressing integration and deployment challenges prevalent in the healthcare landscape.
Understanding Market Dynamics in the Artificial Intelligence in Medical Imaging Market
The Artificial Intelligence in Medical Imaging Market is rapidly evolving, shaped by dynamic supply and demand trends. These insights provide companies with actionable intelligence to drive investments, develop strategies, and seize emerging opportunities. A comprehensive understanding of market dynamics also helps organizations mitigate political, geographical, technical, social, and economic risks while offering a clearer view of consumer behavior and its effects on manufacturing costs and purchasing decisions.- Market Drivers
- Significant benefits of AI in medical imaging
- Government initiatives to promote the use of artificial intelligence
- Adoption of advanced analytics in medical imaging
- Market Restraints
- High costs associated with development and deployment of AI
- Market Opportunities
- Emerging investments in developing advanced AI tools
- Development of smart hospitals and higher adoption of AI
- Market Challenges
- Data security issues associated with AI in governance
Exploring Porter’s Five Forces for the Artificial Intelligence in Medical Imaging Market
Porter’s Five Forces framework further strengthens the insights of the Artificial Intelligence in Medical Imaging Market, delivering a clear and effective methodology for understanding the competitive landscape. This tool enables companies to evaluate their current competitive standing and explore strategic repositioning by assessing businesses’ power dynamics and market positioning. It is also instrumental in determining the profitability of new ventures, helping companies leverage their strengths, address weaknesses, and avoid potential pitfalls.Applying PESTLE Analysis to the Artificial Intelligence in Medical Imaging Market
External macro-environmental factors deeply influence the performance of the Artificial Intelligence in Medical Imaging Market, and the PESTLE analysis provides a comprehensive framework for understanding these influences. By examining Political, Economic, Social, Technological, Legal, and Environmental elements, this analysis offers organizations critical insights into potential opportunities and risks. It also helps businesses anticipate changes in regulations, consumer behavior, and economic trends, enabling them to make informed, forward-looking decisions.Analyzing Market Share in the Artificial Intelligence in Medical Imaging Market
The Artificial Intelligence in Medical Imaging Market share analysis evaluates vendor performance. This analysis provides a clear view of each vendor’s standing in the competitive landscape by comparing key metrics such as revenue, customer base, and other critical factors. Additionally, it highlights market concentration, fragmentation, and trends in consolidation, empowering vendors to make strategic decisions that enhance their market position.Evaluating Vendor Success with the FPNV Positioning Matrix in the Artificial Intelligence in Medical Imaging Market
The Artificial Intelligence in Medical Imaging Market FPNV Positioning Matrix is crucial in evaluating vendors based on business strategy and product satisfaction levels. By segmenting vendors into four quadrants - Forefront (F), Pathfinder (P), Niche (N), and Vital (V) - this matrix helps users make well-informed decisions that best align with their unique needs and objectives in the market.Strategic Recommendations for Success in the Artificial Intelligence in Medical Imaging Market
The Artificial Intelligence in Medical Imaging Market strategic analysis is essential for organizations aiming to strengthen their position in the global market. A comprehensive review of resources, capabilities, and performance helps businesses identify opportunities for improvement and growth. This approach empowers companies to navigate challenges in the increasingly competitive landscape, ensuring they capitalize on new opportunities and align with long-term success.Key Company Profiles
The report delves into recent significant developments in the Artificial Intelligence in Medical Imaging Market, highlighting leading vendors and their innovative profiles. These include Agfa-Gevaert Group, Arterys Inc., Behold.ai Technologies Limited, Butterfly Network, Inc., Caption Health, Inc., Dia Imaging Analysis Ltd, Dr CADx, EchoNous, Inc., Enlitic, Inc., Freenome, Fujifilm Holdings Corporation, Gauss Surgical Inc., GE Healthcare, International Business Machines Corporation, Lunit Inc., Nano-X Imaging Ltd., NVIDIA Corporation, RetinAI, RetinAi Medical AG, Siemens Healthineers AG, SigTuple, Subtle Medical, VoxelCloud, Zebra Medical Vision, and Brainminer Ltd.Market Segmentation & Coverage
This research report categorizes the Artificial Intelligence in Medical Imaging Market to forecast the revenues and analyze trends in each of the following sub-markets:- Offering
- Services
- Software Tools/Platform
- Image Acquisition Technology
- Computed Tomography
- Magnetic Resonance Imaging
- Molecular Imaging
- Ultrasound Imaging
- X-Ray
- Application
- Digital Pathology
- Oncology
- End-user
- Diagnostic Centers
- Hospitals
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report provides a detailed overview of the market, exploring several key areas:
- Market Penetration: A thorough examination of the current market landscape, featuring comprehensive data from leading industry players and analyzing their reach and influence across the market.
- Market Development: The report identifies significant growth opportunities in emerging markets and assesses expansion potential within established segments, providing a roadmap for future development.
- Market Diversification: In-depth coverage of recent product launches, untapped geographic regions, significant industry developments, and strategic investments reshaping the market landscape.
- Competitive Assessment & Intelligence: A detailed analysis of the competitive landscape, covering market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, technological advancements, and innovations in manufacturing by key market players.
- Product Development & Innovation: Insight into groundbreaking technologies, R&D efforts, and product innovations that will drive the market in future.
Additionally, the report addresses key questions to assist stakeholders in making informed decisions:
- What is the current size of the market, and how is it expected to grow?
- Which products, segments, and regions present the most attractive investment opportunities?
- What are the prevailing technology trends and regulatory factors influencing the market?
- How do top vendors rank regarding market share and competitive positioning?
- What revenue sources and strategic opportunities guide vendors' market entry or exit decisions?
With the purchase of this report at the Multi-user License or greater level, you will have access to one hour with an expert analyst who will help you link key findings in the report to the business issues you're addressing. This will need to be used within three months of purchase.
This report also includes a complimentary Excel file with data from the report for purchasers at the Site License or greater level.
Table of Contents
1. Preface
2. Research Methodology
4. Market Overview
5. Market Insights
6. Artificial Intelligence in Medical Imaging Market, by Offering
7. Artificial Intelligence in Medical Imaging Market, by Image Acquisition Technology
8. Artificial Intelligence in Medical Imaging Market, by Application
9. Artificial Intelligence in Medical Imaging Market, by End-user
10. Americas Artificial Intelligence in Medical Imaging Market
11. Asia-Pacific Artificial Intelligence in Medical Imaging Market
12. Europe, Middle East & Africa Artificial Intelligence in Medical Imaging Market
13. Competitive Landscape
List of Figures
List of Tables
Companies Mentioned
The leading players in the Artificial Intelligence in Medical Imaging market, which are profiled in this report, include:- Agfa-Gevaert Group
- Arterys Inc.
- Behold.ai Technologies Limited
- Butterfly Network, Inc.
- Caption Health, Inc.
- Dia Imaging Analysis Ltd
- Dr CADx
- EchoNous, Inc.
- Enlitic, Inc.
- Freenome
- Fujifilm Holdings Corporation
- Gauss Surgical Inc.
- GE Healthcare
- International Business Machines Corporation
- Lunit Inc.
- Nano-X Imaging Ltd.
- NVIDIA Corporation
- RetinAI
- RetinAi Medical AG
- Siemens Healthineers AG
- SigTuple
- Subtle Medical
- VoxelCloud
- Zebra Medical Vision
- Brainminer Ltd
Methodology
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Table Information
| Report Attribute | Details |
|---|---|
| No. of Pages | 189 |
| Published | October 2024 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value ( USD | $ 1.57 Billion |
| Forecasted Market Value ( USD | $ 6.57 Billion |
| Compound Annual Growth Rate | 26.8% |
| Regions Covered | Global |
| No. of Companies Mentioned | 25 |
