AI in Medical Imaging Market Analysis

Image Acquisition Technology (X-ray, Computed Tomography, Magnetic Resonance Imaging, Ultrasonic Imaging and Molecular Imaging)

The computed tomography segment in AI in medical imaging market is expected to register a staggering revenue growth between 2024 and 2036. Computed tomography (CT) with AI offers greater accuracy and speed than other imaging tools and detailed cross-sectional areas and is used for different applications in orthopedics, neurology, oncology, emergency medicine, and cardiology. AI helps in providing improved image quality, automated detection, and analysis.

Many healthcare centers are adopting advanced AI-CT tools for quick and accurate diagnosis, workflow optimization, and cost-effectiveness. Leading companies are investing in R&D activities to launch advanced CT tools. For instance, In May 2024, Elekta announced the launch of Evo, a CT-Linac equipped with AI-enhanced imaging. It is a highly versatile radiation therapy technique, capable of delivering online and offline adaptive radiation therapy along with enhanced image-guided radiation therapy treatments.

Application (Digital Pathology, Oncology, Cardiovascular, Neurology, Lungs, Breast, Liver, Oral Diagnostics, Others)

The neurology segment in AI in medical imaging market is projected to hold robust revenue share during the forecast period owing to rising prevalence of neurological diseases such as Alzheimer’s, Parkinson’s, epilepsy, and brain tumor across the globe. A report released in 2021 by the Lancet Neurology stated that more than 3 billion people suffered from a neurological condition. Contributing to this, the WHO in its 2024 publications stated that over 1 in 3 individuals are affected by neurological disorders which is a leading cause of disability and illness globally.

To cater to the rising burden of neurological diseases, manufacturers are launching novel and highly effective AI-powered imaging tools for detecting and diagnosis of neurological disorders. For instance, in February 2024, Royal Philips partnered with Synthetic MR to launch Smart Quant Neuro 3D to support diagnosis and therapy assessment of several brain disorders. Smart Quant Neuro 3D is a combination of AI-based SmartSpeeed image reconstruction technology and 3D SyntAc clinical application by Philips and MR’s SyMRI NEURO 3D quantitative tissue assessment software.

End use (Hospitals and Clinics, Research Laboratories and Diagnostic Centers, Others (Ambulatory Surgical Centers, Intensive Care at Home)

Hospitals and clinics segment is anticipated to dominate over 42% AI in medical imaging market share by 2036, due to large patient admissions for screening and diagnosis. According to data published by the National Institutes of Health (NIH), the number of hospital admissions for screening and diagnostics has drastically increased post-COVID-19 pandemic. Many hospitals and healthcare centers across the globe are focused on expanding their existing healthcare infrastructure and are adopting AI-based imaging and diagnostic equipment for accurate and quick analysis.

Different types of AI-based tools for CT, MRI, and PET scans help radiologists and healthcare professionals to identify abnormalities and diseases like brain tumors, types of cancers, and neurological conditions with higher precision and speed. Moreover, AI-powered tools help in automating routine tasks like image analysis, reducing the overall workload on radiologists and other healthcare professionals. Other factors such as availability of skilled professionals in many medium-to-large scale hospitals and clinics and favorable reimbursement policies are expected to drive segment revenue growth during the forecast period.

Our in-depth analysis of the global market includes the following segments: