AI in Medical Imaging Market Size

AI in Medical Imaging Market size was over USD 170 million in 2023 and is expected to cross USD 3.6 billion by the end of 2036, growing at more than 29% CAGR during the forecast period i.e., between 2024-2036. In 2024, the industry size of AI in medical imaging is estimated at USD 219.3 million.

The growth of AI in medical imaging market is driven by the rising prevalence of different types of chronic disorders across the globe. According to a report published by the World Health Organization (WHO) in May 2023, the prevalence of chronic diseases such as cardiovascular diseases, neurological disorders, cancer, diabetes, and respiratory illnesses is estimated to account for 86% of the 90 million each year. This has resulted in growing need for advanced diagnostic and imaging tools to detect these diseases.

The integration of Artificial Intelligence (AI) into medical imaging has been a critical transformation in the healthcare industry. The sector is steadily investing in AI-based imaging tools and equipment for enhanced accuracy, fewer errors, and automation. Companies in healthcare and pharmaceutical sector are also emphasizing on developing and launching novel and effective imaging tools and software powered by AI.