The “Global Artificial Intelligence in Medical Imaging Market: Size, Trends & Forecast with Impact of COVID-19 (2022-2026)” report has been added to ResearchAndMarkets.com’s offering.
Artificial intelligence (AI) is a branch of computer science that aims to emulate human intelligence through intelligent systems such as image analysis and speech recognition. Medical imaging is the technique and process of imaging the interior of a body for clinical analysis and medical intervention, as well as visual representation of the function of some organs or tissues. AI methods excel at automatically recognizing complex patterns in imaging data and providing quantitative, rather than qualitative, assessments of radiographic characteristics.
The global artificial intelligence in medical imaging market can be segmented based on image acquisition technology (X-Ray, CT, MRI, Ultrasound Imaging, and Molecular Imaging); AI technology (Deep Learning and Other AI & Computer Vision); clinical application (Cardiology, Neurology, Breast, Pulmonology, Liver, and Rest of the Body); and end-user (Medical Institutions and Consumer Healthcare Environment).
COVID-19 has a positive effect on market growth. Attempts have also been made to identify various imaging features of chest CT, resulting in increased popularity for AI in the medical imaging market amid the pandemic. However, with COVID-19 cases on the rise across the world, emerging AI technologies are developed to support hospitals in scaling treatment in the second wave. It also highlights the significance of expanding the use of AI and machine learning in imaging, with the dual goals of improving diagnoses and improving clinician well-being and job security.
The global AI in medical imaging market has increased during the years 2019-2021. The projections are made that the market would rise in the next four years i.e. 2022-2026 tremendously. The global AI in medical imaging market is expected to increase due to the increasing burden of chronic diseases, increasing health spending, increasing funding in AI, increasing government expenditure and policy support, etc. Yet the market faces some challenges such as development hurdles, the black-box nature of AI, etc. Moreover, the market growth would succeed by various market trends like increasing diversity in training datasets, detecting multiple diseases from a single image, high image resolution to maximize algorithm performance, etc.
The global AI in the medical imaging market is fragmented. The key players of the global AI in the medical imaging market are IBM (IBM Watson Health), Butterfly Network, Inc., Gauss Surgical, Inc., and Arterys are also profiled with their financial information and respective business strategies.
Market Dynamics
Drivers
- Increasing Burden of Chronic Diseases
- Increasing Health Spending
- Increasing Funding in Artificial Intelligence
- Technology Upgrades and Innovation
- Increase in Demand for Medical Imaging
- Increasing Government Expenditure and Policy Support
Challenges
- Development Hurdles
- Complexity in Identifying Business Use Cases for Acquiring Radiology Software
- Inadequate Availability of Training Data Sets
- The Black-box Nature of AI
Trends
- Moving Toward Superhuman Disease Detection
- Increasing Diversity in Training Datasets
- Detecting Multiple Diseases from A Single Image
- High Image Resolution to Maximize Algorithm Performance
Company Coverage:
- IBM (IBM Watson Health)
- Butterfly Network, Inc.
- Gauss Surgical, Inc.
- Arterys
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