Artificial Intelligence in Medical Imaging Market – Growth with Worldwide Industry Analysis to 2026
Artificial Intelligence (AI) also known as machine intelligence is a branch of computer science that works to create intelligent machines. AI technologies such as deep learning is already being implemented in speech recognition, monitoring financial data for theft, and in self-driving cars. Artificial Intelligence (AI) technology is being implemented by healthcare service providers including hospitals for clinical usage, clinical decision support, and clinical diagnosis.
Imaging-enabled specialties such as pathology and radiology are set to be early adopters of artificial technology. The use of AI technology is expected to improve clinical outcomes and diagnostic process of healthcare providers. Apart from making radiologists more productive and efficient, AI and machine learning are likely to improve the experience of patients throughout the imaging process.
Increasing use of imaging biomarkers and quantitative imaging in clinical practice, and growing workload of radiologists are expected to drive the global Artificial Intelligence in medical imaging market during the forecast period. Market players are also coming up with image acquisition hardware with embedded Al technologies. The core infrastructure such as networking, and compute and storage devices has also improved in terms of performance with recent technological advancements.
The shortage of radiologists in many developing countries is expected to further propel the market growth over the forecast period from 2018 to 2026. Nonetheless, slow regulatory approval process is expected to hinder the market growth in the coming years. Despite the market having strong growth potential, there are very few approved products in the market.
The global artificial intelligence in medical imaging market can be segmented based on solution, AI technology, image acquisition technology, end-user, clinical application, and region. In terms of solution, the market can be bifurcated into devices, software tools or platforms, and services. The services segment can be classified into integration services and development services.
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Based on AI technology, the global artificial intelligence in medical imaging market can be categorized into deep learning, computer vision, and others. The others segment includes Natural Language Processing (NLP) technology. Deep learning technology segment is expected to garner significant market share over the forecast period. Deep learning methods such as neural networks have observed substantial implementation by healthcare service providers.
In terms of image acquisition technology, the artificial intelligence in medical imaging market can be classified into X-ray, Computed Tomography (CT), magnetic resonance imaging, ultrasound imaging, and molecular imaging. By end-user, the artificial intelligence in medical imaging market is divided into hospitals, R&D centers, and laboratories and diagnostic centers. Based on clinical application, the artificial intelligence in medical imaging market is classified into cardiovascular, neurology, lung (respiratory system), breast (mammography), oncology, pathology, liver (GI), oral diagnostics, and rest of the body.
Regional players are expected to enter the global Artificial Intelligence in medical imaging market due to rising awareness about data security and data privacy. Some of the major players operating in the global market are 3Scan, Agfa Healthcare, Arterys, Butterfly Network, Inc., EchoNous, Inc., Enlitic, Inc., General Electric (GE) Company, IBM Corporation, Intel Corporation, Johnson & Johnson Services, Inc., Medtronic, Microsoft Corporation, NVIDIA Corporation, Samsung Group, and Siemens AG among others.