Healthcare

Global AI-Enabled Medical Imaging Solutions Market

April 8, 2020
ID: SR/HC-32
Format:Pdf
Pages:220

Global AI-Enabled Medical Imaging Solutions Market by Product (Software and Services), By Workflow (Image Analysis, Image Acquisition, Detection, Reporting and Communication, Diagnosis and Treatment Decision Support, Predictive Analysis and Risk Assessment, Triage, Equipment Maintenance),By Application(Cardiology, Oncology, Neurology, Respiratory, Orthopedics, and Others), By Technology(Deep Learning, Computer Vision and Others),By Modality(Computed Tomography (CT), Magnetic Resonance (MR), Ultrasound, X-Ray, Mammography, Multimodality Imaging Systems, and Others), By End-User(Hospitals, R&D Centers and Laboratories and Diagnostic Centers), and By Region (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

Description

Global AI-Enabled Medical Imaging Solutions Market Overview

Artificial intelligence can help imaging technicians do a lot of things. Through the internet and artificial intelligence technology to create a multi-dimensional system of medical images, to help doctors analyze and diagnose diseases in real time, accurately and efficiently, reduce the cost of medical treatment for patients.

Medical image intelligent analysis refers to the use of artificial intelligence technology to identify and analyze medical images, help doctors locate illnesses and examine the condition, and assist in making the diagnosis. Medical imaging big data is a large-scale, high-growth, multi-structure, high-value, true, and accurate image generated by DR, CT, MR, and other medical imaging equipment and stored in the PACS Data collection.

Global AI-Enabled Medical Imaging Solutions Market Insights

Global AI-Enabled Medical Imaging Solutions Market projected to grow at a substantial rate during the forecast period, 2020-2027. The growing adoption of AI-based medical imaging in cardiology, pathology, ophthalmology, etc. are expected to fuel the growth of AI-enabled medical imaging solutions market in the forthcoming years. Moreover, expanding the range of applications of AI in medical imaging, shortage of healthcare workforce, coupled with huge R&D investments will accelerate the robust growth of AI-enabled medical imaging solutions market size in the upcoming period. Additionally, improvement in computing power, learning algorithms, and availability of huge data sets for health monitors and medical devices are anticipated to boom the AI-enabled medical imaging solutions industry.

There are main types of application of artificial intelligence in the field of medical imaging: disease screening, quantification of lesions, qualitative lesions, and have covered many diseases such as lung nodules, breast cancer, cardiovascular, skin cancer, etc. Furthermore, the surge in the adoption of artificial intelligence for finding minor abnormalities in patients and improvements in medical imaging diagnosis in the detection of life-threatening diseases will propel the growth of the AI-enabled medical imaging market.

Growth Driver

Increasing demand for pattern recognition to optimize echocardiogram evaluation

AI-based pattern recognition and machine learning algorithms can be applied to identify borders and motion, which are ideal for evaluating the heart. For example, ultrasound imaging of the heart or echocardiography is the most widely used imaging technique for the evaluation of cardiac heart function.

A surge in the application of AI in medical Imaging

AI tools can be used to automate other measurement tasks, such as aortic valve analysis, carina angle, and pulmonary artery diameter measurement. Applying AI to imaging data can also help identify thickening of certain muscle structures (such as the left ventricular wall), or monitor changes in blood flow through the heart and related arteries. In addition, the automatic pulmonary artery blood flow avoids the error of manual measurement and provides structured quantitative data to save time for doctors to interpret the results. These data can be used in later research or risk stratification schemes. The algorithm can also automatically fill in reports for human clinical. The doctor saves time and determines abnormal measurements.

Product Segmental Analysis

Based on the product, the global AI-Enabled Medical Imaging Solutions market bifurcated into Software and Services. The Software segment predicted to gain a major share in the market by 2027, owing to the growing demand for the radiologists in the assessment and characterization of breast abnormalities using magnetic resonance imaging (MRI). Additionally, the aging population and increasing access to technological healthcare solutions in emerging markets will drive the AI-enabled imaging market.

The Services segment will grow on account of the AI-based imaging solutions aid tasks associated with patient care imaging or business operations, and transform medical imaging, saving providers time and effort when diagnosing and treating patients.

Workflow Segmental Analysis

Based on workflow, the global AI-Enabled Medical Imaging Solutions market categorized into Image Analysis, Image Acquisition, Detection, Reporting and Communication, Diagnosis and Treatment Decision Support, Predictive Analysis and Risk Assessment, Triage, and Equipment Maintenance. The Image Analysis projected to dominate the market by 2027 due to AI help in increasing skills in visual image analysis through reconstruction techniques such as optimize reconstruction performance, deep learning‐based methods reforms image for finding a mapping between the sensor and the image domain.

Image Acquisition segment will grow due to the power of AI to reducing noise and artifacts and enhancing contrast, giving physicians a clearer view of the patient’s pathology.

Application Segmental Analysis

Based on application, the global AI-Enabled Medical Imaging Solutions market classified into Cardiology, Oncology, Neurology, Respiratory, Orthopedics, and Others. The Cardiology segment estimated to generate maximum revenue by 2027, due to the growing demand for AI for using echocardiographic images to classify the view of the mages. AI assists in evaluating coronary artery vulnerable plaques, perform intelligent assisted diagnosis of coronary heart disease and plan stent implantation plans.

The Neurology segment will grow attributable to the benefits of AI in cardiology to complex manifestations of heterogeneous central nervous system neoplasms for improving patient outcomes.

Technology Segmental Analysis

Based on technology, the global AI-Enabled Medical Imaging Solutions market categorized into Deep Learning, Computer Vision, and Others. Computer Vision segment expected to gain maximum revenue by 2027 owing to its help in transforming medical imaging and diagnosis of a range of diseases.

The deep learning segment will surge in the forecast period as deep learning used for image analysis to devise imaging-based diagnostic and classification systems of disease problems.

Modality Segmental Analysis

Based on modality, the global AI-Enabled Medical Imaging Solutions market segregated into Computed Tomography (CT), Magnetic Resonance (MR), Ultrasound, X-Ray, Mammography, Multimodality Imaging Systems, and Others. Computer Vision segment expected to gain maximum revenue by 2027 owing to detect the small changes in the brain of patients, and quantitative analysis of brain MRI may improve the clinical diagnosis efficiency.

End-User Segmental Analysis

Based on end-user, the global AI-Enabled Medical Imaging Solutions market categorized into Hospitals, R&D Centers, and Laboratories and Diagnostic Centers. The hospital segment will witness the largest share in the market in the forecast period. It is primarily due to the rise in chronic disease and the growing aging population across the world, along with the massive surge in patients’ volumes in hospitals.

Diagnostic centers segment will influence on account of the technological adoption by diagnostic centers for early detection of disease.

Region Segmental Analysis

Based on geography, the global AI-Enabled Medical Imaging Solutions market segmented into North America, Europe, Asia Pacific, South America, and Middle East & Africa. North America estimated to occupy the lion’s market share by 2027, owing to the strong presence of AI in medical imaging vendors in these regions and financial aid by governments for technological research in the healthcare industry.

The Asia Pacific will be the fastest-growing segment due to the surge in the financial expenditure by the government on the healthcare industry and the fastest-growing economies.

Competitor Analysis

Companies such as Microsoft Corporation, Samsung Electronics Co. Ltd., Arterys, Gauss Surgical, Enlitic Inc., Siemens Healthineers AG, IBM Corporation, Bay Labs, Inc., Qure.ai, Lunit Inc., Beijing Infervision Technology Co., Ltd., Blackford Analysis Limited, ContextVision AB, Fujifilm Holdings Corporation, Koninklijke Philips N.V., MIRADA MEDICAL LIMITED, Nuance Communications, Inc., and NVIDIA Corporation are the key players in the Global AI-Enabled Medical Imaging Solutions Market.

New Investment Analysis:

In Sept. 2019, Medical technology firm Riverain Technologies received a $15m growth investment for global expansion. The company’s ClearRead suite of products supports clinicians in improving patient outcomes. The products, which can be implemented in the clinic or through the cloud, are powered by the most advanced AI and machine learning methods available to the medical imaging market.
In Aug 2019, Tel Aviv-based medical imaging AI startup Aidoc announced a $27 million Series B round. Aidoc’s technology doesn’t require dedicated hardware and runs continuously on hospital systems, automatically ingesting radiological images.

Key Stakeholders

Market research and consulting firms
Industry associations
Global AI-Enabled Medical Imaging Solutions service providers
Research organizations and consulting companies
Organizations, associations, and alliances related to AI-Enabled Medical Imaging Solutions
Regulatory bodies

Scope of the report

Report Attribute	Details
Market size value in 2020	USD 656 million
Revenue forecast in 2027	USD 912.3 million
Growth Rate	CAGR of 25.86% from 2020 to 2027
Historical data	2017-2019
Forecast period	2021 – 2027
Region covered	North America, Europe, Asia-Pacific, South America, and Middle East & Africa
Key companies Profiled	Microsoft Corporation, IBM Corporation, Bay Labs, Inc., Qure.ai, Lunit Inc., Beijing Infervision Technology Co., Ltd., Samsung Electronics Co. Ltd., Arterys, Gauss Surgical, Enlitic Inc., Siemens Healthineers AG, Blackford Analysis Limited, ContextVision AB, Fujifilm Holdings Corporation, Koninklijke Philips N.V., MIRADA MEDICAL LIMITED, Nuance Communications, Inc., and NVIDIA Corporation

Recent Developments

In September 2021, Roche launched the Roche Digital Pathology Open Environment, allowing software developers to easily integrate their image analysis tools for tumor tissue with Roche’s UPath Enterprise software.
In September 2021, Nuance launched AI-powered radiology solutions to Australia, New Zealand, designed to reduce burnout among radiologists and enhance reporting and clinical outcomes.
In August 2021, Probo Medical signed an agreement to become an authorized distributor of ultrasound solutions for Mindray North America to provide physicians with immediate and direct access to Mindray’s wide range of innovative, category-leading ultrasound imaging products and related accessories.

The objective of the Research

Market modeling starts with identifying a target market where historical data exists. A Market can include prediction problems, economic factors, analyzing customer behavior, and identifying new patterns from past events, which helps our client to have deep dive into the market.
Product analysis involves steps such as examining product features, costs, availability, quality, and other aspects. Product analysis is conducted to understand potential buyers and measure competition in the market.
Market Trend and Economic Factors Analysis helps in assessing potential changes to an economy’s inflation rate, taxes, interest rates, exchange rates, trading regulations, and excise duties that can or have a major effect on the target market.
Market Segmental Analysis defines in-depth scenario of the target market by the process of grouping consumers into naturally existing created segments of consumers who share similar product preferences or characteristics
The geographical mapping approach helps our clients to understand national or international markets because different consumers in different regions have different needs wants, and cultural characteristics that can be specifically targeted.

Market Modelling

By Product

Software
Services

By Workflow

Image Analysis
Image Acquisition
Detection
Reporting and Communication
Diagnosis and Treatment Decision Support
Predictive Analysis and Risk Assessment
Triage
Equipment Maintenance

By Application

By Technology

Deep Learning
Computer Vision
Others

By Modality

By End-User

Hospitals
R&D Centers and Laboratories
Diagnostic Centers

By Region

North America
Europe
Asia Pacific
South America
Middle East & Africa

Table Of Contents

Methodology

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Frequently Asked Questions (FAQ):

What is the size of the AI-Enabled Medical Imaging Solutions Market?

The size of the Global AI-Enabled Medical Imaging Solutions Market is valued at USD 656 million in 2020 and will reach USD 912.3 million by 2027.

What is the growth rate of the AI-Enabled Medical Imaging Solutions Market?

The growth rate of the AI-Enabled Medical Imaging Solutions Market is 25.86% during the forecast period.

Which region is dominating the AI-Enabled Medical Imaging Solutions Market?

North America is anticipated to dominate the AI-Enabled Medical Imaging Solutions market due to the strong existence of AI in medical imaging vendors and increasing government initiatives.

Who are the end-users of the AI-Enabled Medical Imaging Solutions Market products?

Diagnostic Centers, Hospitals, R&D Centers and Laboratories are the end-users of the AI-Enabled Medical Imaging Solutions Market products.

What is the competitive landscape of the AI-Enabled Medical Imaging Solutions Market?

Microsoft Corporation, IBM Corporation, Bay Labs, Inc., Qure.ai, Lunit Inc., Beijing Infervision Technology Co., Ltd., Samsung Electronics Co. Ltd., Arterys, Gauss Surgical, Enlitic Inc., Siemens Healthineers AG, Blackford Analysis Limited, ContextVision AB, Fujifilm Holdings Corporation, Koninklijke Philips N.V., MIRADA MEDICAL LIMITED, Nuance Communications, Inc., and NVIDIA Corporation are the key companies in the global AI-Enabled Medical Imaging Solutions market.

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