AI-assisted Radiology Market Research Report Information by Technique (X-rays, Magnetic Resonance Imaging, Computed Tomography, Positron Emission Tomography (PET), and Others), by Application (Neurology, Mammography (Breast Cancer), Cardiovascular, Respiratory and Pulmonary, Orthopedics, and Others), by End User (Hospitals, Diagnostic Imaging Centers, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World – Industry Forecast till 2032
The market for AI-assisted radiology was estimated to be worth USD 1.57 billion in 2023. According to projections, the AI-assisted Radiology Market industry would expand at a compound annual growth rate (CAGR) of 32.96% from USD 2.03 billion in 2024 to USD 27.18 billion by 2032.
The primary drivers propelling the growth of the AI-assisted Radiology Market are the increasing number of start-ups offering AI-powered medical imaging capabilities and the expanding strategic efforts of industry participants. However, it is anticipated that resource limitations and high costs will impede the expansion of the global industry. However, it is projected that growing global funding and investment for artificial intelligence in medical imaging would generate profitable prospects for the industry.
AI is being driven by the modern period in the medical imaging sector. This is because the software enables doctors to identify illnesses far more quickly and take early action. Moreover, cutting-edge features for AI medical imaging solutions are emphasized by emerging AI-powered start-ups. Many AI-powered start-ups are emerging from around the world to satisfy the needs of physicians. Examples include Viz.ai, Inc. (Israel), Aidoc (Israel), Lunit Inc. (South Korea), Suzhou Voxel Information Technology Co., Ltd. (China), and Arterys (US). Additionally, these startups are developing plans to satisfy the demands of the healthcare providers.
As a result, the market is growing as more and more AI-powered medical imaging start-ups are being established to tackle different issues, offer better results, and help medical professionals comprehend disorders.
Insights on market segments Technique-based segmentation of the AI-assisted Radiology Market covers computed tomography, positron emission tomography (PET), magnetic resonance imaging, X-rays, and other procedures.
Based on application, the AI-assisted Radiology Market is divided into segments for neurology, cardiology, respiratory and pulmonary, orthopaedics, mammography (breast cancer), and other specialties.
Hospitals, diagnostic imaging facilities, and other end users are included in the end user segmentation of the AI-assisted Radiology Market.
Localized PerspectivesThe market is divided into four regions by the study: North America, Europe, Asia-Pacific, and the Rest of the World. The market for AI-assisted radiology in North America is expanding significantly due to a number of factors. Radiology has changed as a result of developments in artificial intelligence (AI) and machine learning, which have improved patient outcomes, streamlined processes, and increased diagnostic accuracy. This technological development addresses problems including the growing need for efficient healthcare delivery given the incidence of chronic diseases rising and the shortage of radiologists.
The market is driven by a developing healthcare industry and well-established healthcare infrastructure, with Europe having the second-largest market share in the AI-assisted radiology market. In addition, the AI-assisted radiology provider in Germany is said to have the most market share, while the AI-assisted radiology provider in France is anticipated to have the quickest rate of growth in the European Union.
From 2024 to 2032, the AI-assisted Radiology market in Asia-Pacific is anticipated to grow at the quickest rate because of growing government initiatives and investments, expanding online retail channels for healthcare products, rising healthcare expenditures, and growing investments in AI technology.
Principal PlayersContextVision AB (Sweden), Siemens Healthineers AG (Germany), Agfa-Gevaert Group (Belgium), GE Healthcare (US), FUJIFILM Corporation (Japan), ClariPi Inc (South Korea), Lunit Inc (South Korea), Enlitic Inc. (US), and NANO-X IMAGING LTD (Israel) are some of the major players in the AI-assisted Radiology market.