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KONINKLIJKE PHILIPS N.V.
SIEMENS HEALTHINEERS AG
CLARIPI INC
CONTEXTVISION AB
LUNIT INC.
FUJIFILM HOLDINGS CORPORATION
AGFA-GEVAERT GROUP
GE HEALTHCARE
ENLITIC, INC.
NANO-X IMAGING LTD.
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Global AI-assisted Radiology Market Research Report Information by Technique (X-rays, Magnetic Resonance Imaging, Computed Tomography, Positron Emission Tomography (PET), and Others), by Application (Neurology, Mammography (Breast Cancer), Cardiovascular, Respiratory and Pulmonary, Orthopedics, and Others), by End User (Hospitals, Diagnostic Imaging Centers, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World - Forecast till 2032
Market Overview
In 2023, the AI-assisted Radiology Market was estimated to be worth USD 1.57 billion. The AI-assisted Radiology Market industry is anticipated to experience a compound annual growth rate (CAGR) of 32.96% from USD 2.03 billion in 2024 to USD 27.18 billion by 2032 during the forecast period (2024-2032).
The AI-assisted Radiology Market is being driven by the increasing number of AI-powered medical imaging start-ups and the strategic initiatives of market players. Nevertheless, the global market's expansion is anticipated to be impeded by resource and cost constraints. However, it is anticipated that the market will generate lucrative opportunities as a result of the growing funding and investment in AI in medical imaging worldwide.
Market segment insights
The AI-assisted Radiology Market segmentation is defined by the technique used, which includes X-rays, magnetic resonance imaging, computed tomography, positron emission tomography (PET), and others.
The AI-assisted Radiology Market segmentation is categorized by application and includes neurology, mammography (breast cancer), cardiovascular, respiratory and pulmonary, orthopedics, and others.
Hospitals, diagnostic imaging centers, and other entities comprise the AI-assisted Radiology Market segmentation, which is based on end user.
Regional Perspectives
The market is segmented into North America, Europe, Asia-Pacific, and the Rest of the World by region. Factors are propelling the substantial expansion of the North American AI-assisted Radiology market. Radiology has been revolutionized by advancements in artificial intelligence (AI) and machine learning, which have resulted in improved patient outcomes, streamlined operations, and increased diagnostic accuracy. This technical advancement addresses challenges such as the growing demand for effective healthcare delivery in the context of a radiology deficit and the increasing prevalence of chronic diseases.
The European AI-assisted Radiology market accounted for the second-largest market share, which is attributed to the well-established healthcare infrastructure and the expanding healthcare industry. Additionally, the Germany AI-assisted Radiology provider is considered to have the greatest market share, while the France AI-assisted Radiology providers are expected to have the fastest growing market in the European region.
The Asia-Pacific AI-assisted Radiology market is anticipated to experience the most rapid growth from 2024 to 2032. This is attributed to the increasing expenditure on healthcare, the expansion of online retail channels for healthcare products, and government initiatives and investments. Additionally, there is a rise in investments in AI technology.
Major Players
Koninklijke Philips N.V. (Netherlands), Siemens Healthineers AG (Germany), ContextVision AB (Sweden), GE Healthcare (US), FUJIFILM Corporation (Japan), Agfa-Gevaert Group (Belgium), ClariPi Inc (South Korea), Lunit Inc (South Korea), Enlitic Inc. (US), and NANO-X IMAGING LTD (Israel) are among the key companies in the AI-assisted Radiology market.
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY
2 MARKET INTRODUCTION
2.1 DEFINITION
2.2 SCOPE OF THE STUDY
2.3 RESEARCH OBJECTIVE
2.4 MARKET STRUCTURE
3 RESEARCH METHODOLOGY
3.1 OVERVIEW
3.2 DATA FLOW
3.2.1 DATA MINING PROCESS
3.3 PURCHASED DATABASE:
3.4 SECONDARY SOURCES:
3.4.1 SECONDARY RESEARCH DATA FLOW:
3.5 PRIMARY RESEARCH:
3.5.1 PRIMARY RESEARCH DATA FLOW:
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE
3.6 APPROACHES FOR MARKET SIZE ESTIMATION:
3.6.1 REVENUE ANALYSIS APPROACH
3.7 DATA FORECASTING
3.7.1 DATA FORECASTING TECHNIQUE
3.8 DATA MODELING
3.8.1 MICROECONOMIC FACTOR ANALYSIS:
3.8.2 DATA MODELING:
3.9 TEAMS AND ANALYST CONTRIBUTION
4 MARKET DYNAMICS
4.1 INTRODUCTION
4.2 DRIVERS
4.2.1 RISING NUMBER OF AI-POWERED MEDICAL IMAGING START- UPS
4.2.2 GROWING STRATEGIC INITIATIVES BY MARKET PLAYERS
4.3 RESTRAINTS
4.3.1 HIGH COST AND RESOURCE CONSTRAINTS
4.4 OPPORTUNITY
4.4.1 INCREASING FUNDING & INVESTMENT FOR AI IN MEDICAL IMAGING ACROSS THE GLOBE
5 MARKET FACTOR ANALYSIS
5.1 PORTER'S FIVE FORCES MODEL
5.1.1 THREAT OF NEW ENTRANTS
5.1.2 BARGAINING POWER OF SUPPLIERS
5.1.3 THREAT OF SUBSTITUTES
5.1.4 BARGAINING POWER OF BUYERS
5.1.5 INTENSITY OF RIVALRY
5.2 IMPACT OF COVID-19 ON THE GLOBAL AI IN RADIOLOGY MARKET
6 GLOBAL AI-ASSISTED RADIOLOGY MARKET, BY TECHNIQUE
6.1 OVERVIEW
6.2 X-RAYS
6.3 MAGNETIC RESONANCE IMAGING
6.4 COMPUTED TOMOGRAPHY (CT)
6.5 POSITRON EMISSION TOMOGRAPHY (PET)
6.6 OTHERS
7 GLOBAL AI-ASSISTED RADIOLOGY MARKET, BY APPLICATION
7.1 OVERVIEW
7.2 NEUROLOGY
7.3 MAMMOGRAPHY (BREAST CANCER)
7.4 CARDIOVASCULAR
7.5 RESPIRATORY AND PULMONARY
7.6 ORTHOPEDICS
7.7 OTHERS
8 GLOBAL AI-ASSISTED RADIOLOGY MARKET, BY END USER