AI in Medical Imaging Market Share

North America Market Analysis

North America AI in medical imaging market is expected to hold over 35.1% revenue share by the end of 2036, due to rising investments in AI in healthcare industry. According to a report published by Silicon Valley Bank (SVB), so far in 2024, USD 2.8 billion has been invested in AI healthcare companies, the highest investment since 2021. Hospitals, clinics, and other healthcare centers across the region are focused on adopting novel and advanced AI technology for effective diagnosis and smooth functioning. The AI in medical imaging market in North America is driven by rapid advancements in AI and healthcare and presence of skilled radiologists and healthcare professionals. As per a 2023 report, the number of employed radiologists in the United States ranged from 40 to 3,300 by state.

The government in the United States is encouraging the adoption of AI in healthcare and has announced voluntary commitments from leading healthcare and pharmaceutical companies to deploy AI solutions and services and also manage the potential risks associated with AI. The companies are committed to developing AI solutions for optimizing overall healthcare delivery, making healthcare reachable and affordable. Moreover, many companies are investing and acquiring other companies to enhance their product base. For instance, GE HealthCare acquired MIM Software to leverage MIM’s imaging analytics and digital workflow capabilities and explore its potential to enhance patient care and overall healthcare system.

Asia Pacific Market Analysis

Asia Pacific AI in medical imaging market is expected to be the fastest growing segment during the forecast period owing to high focus on improving existing healthcare infrastructure. This is primarily due to increasing elderly population in the region, rising burden of various diseases and health conditions, and growing need for advanced healthcare systems and diagnostic tools and services.

Governments in countries like China, India, Singapore, Japan, and South Korea are encouraging the use of AI tools in the healthcare sector. For instance, during the second edition of the AI Health Summit 2023, the Senior Minister of the Ministry of Health of Singapore delivered a speech highlighting the importance of adopting AI in the healthcare sector for early detection and better diagnosis of diseases. Companies and start-ups in Asia Pacific are developing new tools and techniques to improve overall healthcare infrastructure. In 2024, Indian medical imaging AI company, InMed AI developed and launched Neuroshield CT TBI, an AI enabled tool that automatically screens all head CTs.