Press Release Description

Launch of AI Algorithms for Use in Medical Imaging Catalyzing the Global Artificial Intelligence (AI) Enabled Medical Imaging Market Growth

Artificial intelligence is driving the future of medical imaging with the help of cost-effective diagnoses through medical imaging, improving healthcare delivery metrics, and enhancing patient experience by improving the access and quality of medical imaging. The growth of Global artificial intelligence (AI) enabled medical imaging market is projected to grow at a high rate due to the extensive use of imaging biomarkers in clinical practice, increasing shortage of radiologist in many developing countries and launch of novel artificial intelligence (AI) algorithms for use in medical imaging. Besides these, the growing adoption of AI in in medical imaging to enhance productivity and accuracy, escalating investment by the healthcare industry in AI enabled medical imaging, and surging number of radiology and medical imaging startups are anticipated to lead to the growing demand for AI enabled Medical Imaging in the forecast period.

According to MarkNtel Advisorsresearch report titledGlobal Artificial Intelligence (AI) Enabled Medical Imaging Market Analysis, 2020”, the Global Artificial Intelligence (AI) Enabled Medical Imaging market is anticipated to grow at a CAGR of around 29% during 2021-26. Based on Component, Software segment is anticipated to grow at a highest rate in the Global AI enabled medical imaging market in the forthcoming timeline due to the rising adoption of software to capture quality images on an array of different patients and to improve AI-related radiology and associated workflows, and large-scale presence of various established as well as emerging players in the market.

“Global Artificial Intelligence (AI) Enabled Medical Imaging Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and growth opportunities available for Artificial Intelligence (AI) Enabled Medical Imaging providers across the globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.      

North America Acquired the Majority Market Share

North America acquired the majority market share in 2020 and is estimated to dominate in the forecast period. The surging prevalence of chronic diseases, escalating adoption of AI to effectively manage healthcare imaging data, and boost in government investment toward healthcare infrastructure development are few of the prime factors for market growth. Along with these, burgeoning presence of a technology-based companies, increasing funding toward the medical imaging startups, and booming ageing population are anticipated to accelerate the growth of Artificial Intelligence (AI) Enabled Medical Imaging market in this region as stated in MarkNtel Advisors’ research report “Global Artificial Intelligence (AI) Enabled Medical Imaging Market Analysis, 2020”. 

According to MarkNtel Advisors, the key players with a considerable market share in the Global Artificial Intelligence (AI) Enabled Medical Imaging market are Aidoc, Arterys Inc., Beijing Infervision Technology Co., Ltd., Blackford Analysis Limited, ContextVision AB, EnvoyAI, Fujifilm Holdings Corporation, General Electric Company, iCAD, Inc., Koninklijke Philips N.V., Mirada Medical Limited, NVIDIA Corporation, Nuance Communications, Inc., Resonance Health Ltd., Samsung Electronics Co., Ltd. etc.,

Market Segmentation:

  1. By Components (Hardware, Software [Perpetual Software License, Subscription Software License, Pay as You Go Software License])
  2. By Workflow (Image Analysis, Image Acquisition, Detection, Reporting & Communication, Diagnosis & Treatment Decision Support, Predictive Analysis & Risk Assessment, Equipment Maintenance, Triage)
  3. By Therapeutic Application (Specialty Imaging [Cardiology, Oncology {Lung Cancer, Breast Cancer, Other Cancers}, Neurology, Respiratory, Orthopedics, Others], General Imaging)
  4. By Deployment (Cloud, On-Premise)
  5. By Modality (Computed Tomography, Magnetic Resonance, Ultrasound, X-Ray, Mammography, Multimodality Imaging Systems, Others)
  6. By Region (North America, South America, Europe, Asia-Pacific, Middle East & Africa)
  7. By Country (US, Canada, Mexico, Brazil, UK, Germany, France, Italy, Sweden, Switzerland, Russia, The Netherlands, China, Japan, South Korea, India, Australia, Singapore, GCC),
  8. By Company (Aidoc, Arterys Inc., Beijing Infervision Technology Co., Ltd., Blackford Analysis Limited, ContextVision AB, EnvoyAI, Fujifilm Holdings Corporation, General Electric Company, iCAD, Inc., Koninklijke Philips N.V., Mirada Medical Limited, NVIDIA Corporation, Nuance Communications, Inc., Resonance Health Ltd., Samsung Electronics Co., Ltd. etc.)

Key questions answered in the study:

  1. What are the current and future trends of the Artificial Intelligence (AI) Enabled Medical Imaging industry?
  2. How the industry has been evolving in terms of end-user demand and application areas?
  3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
  4. What are the key growth drivers and challenges for the Artificial Intelligence (AI) Enabled Medical Imaging industry?
  5. What is the customer orientation, purchase behavior, and expectations from the Artificial Intelligence (AI) Enabled Medical Imaging firms across various regions?