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Artificial Intelligence (AI) in Medical Imaging Market Size

Report ID: GMI5378
Published Date: Jul 2023
Report Format: PDF

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AI in Medical Imaging Market Size

AI in Medical Imaging Market was worth over USD 1.38 billion in 2022. Driven by the high R&D investment in medical imaging by market players, the industry could grow at over 30.5% CAGR from 2023 to 2032. Global medical imaging industry is expected to witness over 5.1% CAGR in the forecast period due to incremental innovations and advancements in medical imaging technology.

Artificial Intelligence (AI) in Medical Imaging Market

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With the growing penetration of AI in the medical imaging and healthcare sector, many industry players are heavily investing in R&D activities to develop and manufacture new technologies in the space. For instance, in October 2022, Google Cloud unveiled Medical Imaging Suite, a new solution that makes healthcare imaging data more interoperable and accessible. Many healthcare institutions are also focusing on encouraging the use of AI in healthcare, which will shape the industry landscape.

AI in Medical Imaging Market Report Attributes
Report Attribute	Details
Base Year:	2022
AI in Medical Imaging Market Size in 2022:	USD 1.38 Billion
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	30.5%
2032 Value Projection:	USD 19.9 Billion
Historical Data for:	2018 to 2022
No. of Pages:	150
Tables, Charts & Figures:	214
Segments covered:	Modality, Application, End-use, and Region
Growth Drivers:	Technological advancements in AI increase its applications in medical imaging Global shortage of radiologists will increase the adoption of AI in medical imaging Improved diagnostic accuracy and treatment planning offered by AI in medical imaging Huge R&D investment from growing ecosystem of market players
Pitfalls & Challenges:	Slow regulatory approval process Patient harm due to AI errors

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Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

AI in medical imaging industry was valued at over USD 1.3 billion in 2022 and will grow at more than 30.5% CAGR from 2023 to 2032, attributed to high R&D investment in medical imaging by market players.

The X-ray segment held around 31.5% of the AI in medical imaging industry share in 2022, owing to the high accuracy of x-ray imaging.

North America AI in the medical imaging market held over 35.5% share in 2022 on account of the rapidly expanding healthcare infrastructure in the region.

Major AI in medical imaging industry players include Arterys Inc., GE Healthcare, InformAI, LLC, Koninklijke Philips N.V., DIGITAL DIAGNOSTICS INC., Intel Corporation, and Lunit Inc., among others.