Market Overview
Artificial intelligence (AI) is one of the most incredible advanced technologies that use computerized algorithms to analyze complex data. AI-enabled Imaging Modality is an approach to achieve an accurate and correct diagnosis of patients to provide them with better and personalized treatment. It further helps identify imaging abnormalities and enhance tissue-based detection & characterization.
According to the MarkNtel Advisors’ research report, “Global Artificial Intelligence (AI) Enabled Imaging Modalities Market Analysis, 2021,” the market is likely to grow at a CAGR of around 31% during 2021-26 due to the rising workload of radiologists and surging complexities in clinical decision making. These challenges increase physicians' inclination toward adopting advanced technologies, including Artificial Intelligence, for better diagnosis and treatment. Further, rising security & privacy concerns regarding healthcare data also fuel the growth of the AI-enabled Imaging Modalities Market.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR | 31% |
| Regions Covered | North America: USA, Canada |
| Europe: Germany, UK, France, Russia | |
| Asia-Pacific: China, India, Japan | |
| South America: Brazil | |
| Middle East & Africa: UAE, Israel | |
| Key Companies Profiled | Arterys, Voxel cloud, Butterfly network, Infervision, Gauss Surgical, Owkin, Zebra Medical Vision, Curemetrix, Cellmatiq, MedyMatch, BrainerMiner, Lunit |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The outbreak of the global COVID-19 pandemic has brought out a revolution in the Global AI-Enabled Imaging Modalities Market. Due to the pandemic, the AI-Enabled Imaging Modalities Market has witnessed a positive impact due to the rising awareness and surging adoption of digital healthcare solutions. Additionally, AI is highly beneficial for gaining insights & proper diagnosis that can help find a solution to fight disease transmission at early stages. Hence, this incredibly advanced technology is likely to be extensively used for fighting the COVID-19 pandemic.
Software Segment Accounted for the Largest Market Share
Based on the component, the market segments into Software, Hardware, and Services. Of these, the Software segment acquired the largest share in the Global AI-Enabled Imaging Modalities Market in the previous few years due to the innovation of AI-based software for diagnosis in the healthcare sector. Further, the rising demand for advanced technologies, such as AI-powered and cloud-based solutions, has also accelerated the need to have AI-Enabled Imaging Modalities that can help increase diagnostic precision.
Besides, the launch of advanced AI software for imaging purposes results in the successful diagnosis of diseases. Hence, it shall drive the Global AI-Enabled Imaging Modalities Market Growth, reveals MarkNtel Advisors in their research report, “Global Artificial Intelligence (AI) Enabled Imaging Modalities Market Analysis, 2021.”
Neurology Segment Attained the Highest Market Share
Based on Therapeutic Application, the market segments into Cardiology, Oncology, Neurology, and Pulmonology. Of these segments, Neurology dominated the Global AI-Enabled Imaging Modalities Market in the past few years due to the highest number of regulatory approvals. Further, AI-enabled imaging modalities are beneficial for the early diagnosis of various kinds of neurological disorders, such as ischemic brain stroke, epilepsy, and Alzheimer's disease, which would further help in providing better & personalized treatment.
Regional Landscape
North America Dominated the Market
Geographically, North America held the largest share in the Global AI-Enabled Imaging Modalities Market in the previous few years due to the rising adoption of IT solutions in the healthcare sector, especially for medical diagnosis. Moreover, the United States holds the largest market for AI-enabled Imaging Modalities in North America due to the abundant availability of advanced medical software and market players across the region. Besides, the availability of leading industry players and the rapid development of AI-based diagnosis software across the region shall also fuel the market growth in the forecast period.
Market Driver
Surging Number of Cross-Industry Partnerships Boost the Market Growth
The rising awareness of benefits entwined with extensive AI-based applications has propelled AI-enabled Imaging Modalities in the healthcare market. Several leading companies in the market are venturing into partnerships and collaborations with AI providers to develop innovative AI-based solutions. These strategies help market players build up their position in the market and offer cutting-edge solutions to their customers.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the global Artificial Intelligence (AI) Enabled Imaging Modalities market are Arterys, Voxel cloud, Butterfly network, Infervision, Gauss Surgical, Owkin, Zebra Medical Vision, Curemetrix, Cellmatiq, MedyMatch, BrainerMiner, and Lunit.
Key Questions Answered in the Market Research Report:
Frequently Asked Questions
A. The Global Artificial Intelligence (AI) Enabled Imaging Modalities Market is forecast to grow at a CAGR of 31% during 2021-26.
A. Arterys, Voxel cloud, Butterfly network, Infervision, Gauss Surgical, Owkin, Zebra Medical Vision, Curemetrix, Cellmatiq, MedyMatch, BrainerMiner, and Lunit are a few leading players in the Global Artificial Intelligence (AI) Enabled Imaging Modalities Market
A. The Software segment is likely to attain the highest CAGR during the forecast period and maintain its significant market share
A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Artificial Intelligence (AI) Enabled Imaging Modalities Market.
A. The rising need for personalized and standardized patient-centric care, accurate & quick diagnosis, and increasing workload of radiologists are primary factors driving the market growth.
A. Due to the sudden outbreak of the COVID-19 pandemic, the AI-Enabled Imaging Modalities Market has witnessed a positive impact due to the rising awareness and surging adoption of digital healthcare solutions.
