Technological Advancements and a Rising Number of Diagnostic Procedures are expected to drive the market growth of the North America Region

Author: Himanshu Patni

May 11, 2023

Artificial Intelligence in Radiology Market

North America dominates the market owing to technological advancement coupled with an increasing no. of diagnostic procedures each year. For instance, according to the International Society for the Study of the Marginal Region (ISSMR), 2022 report, around 150 million patients have undergone MRI and as per the same source, approximately 10 million patients undergo MRI each year. Additionally, product launches by the key market players are expected to contribute towards the growth of the market in the forecast period. For instance, in February 2022, Avicenna AI launched CINE iPE, an AI tool that analyzes images from chest CT scans for the presence of incidental pulmonary embolisms. Furthermore, the increasing no. of diagnostic procedures, the presence of well-established healthcare facilities along with the rising prevalence of chronic diseases in the region are the key factors contributing to the growth of the market.

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FIG. 1 Artificial Intelligence In Radiology Revenue (2020-2028)- USD Mn

Artificial Intelligence in Radiology Market

For a detailed analysis of global artificial intelligence in radiology, market browse through

Based on radiology type, the market is segmented into chest imaging, colonoscopy, mammography, head imaging, and others. The mammography segment is expected to grow during the forecast period. This is attributed to the rising prevalence of breast cancer cases and rising awareness amongst females for early diagnostics globally. For instance, according to FDA, the no. of monographs performed each year is 40 million. AI uses computer-assisted detection techniques that identify the changes in mammograms and can find abnormalities before cancer is diagnosed. These elements are anticipated to accelerate the growth of this segment.

Based on technique type, the market is segmented into X-rays, magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), ultrasound, and others. Amongst these, the computed tomography (CT) segment dominates the market growth during the forecast period. This is attributed to rising in the prevalence of chronic diseases such as cancer, arthritis, and neurological diseases, coupled with increasing demand for pre-diagnostics amongst the population. Additionally, A.I. has the potential to significantly reduce patient radiation dosage in computed tomography (C.T.) by automating and optimizing data acquisition procedures such as patient placement and acquisition parameter settings. Market participants are making innovations to meet the growing demand for CT scans in the researched industry. For instance, in August 2022, Xoran Technologies announced FDA 510(k) approval for TRON, a full-body fluoroscopy computed tomography system designed to provide safe, ultra-high resolution, low-dose imaging in traditional settings such as ICU rooms.

Global Artificial Intelligence in Radiology Market Segmentation

Market Insights by Radiology Type

o Chest Imaging

o Colonoscopy

o Mammography

o Head Imaging

o Others

Market Insights by Technique

o X-Rays

o Magnetic Resonance Imaging (MRI)

o Computed Tomography (CT)

o Positron Emission Tomography (PET)

o Ultrasound

o Others

Market Insights by Application

o Computer-Aided Diagnostics

o Computer-Aided Detection

o Quantitative Analysis Tools

o Clinic Detection Support

Market Insights by Region

o North America Market

§ U.S.

§ Canada

§ Rest of North America

o Europe Market

§ UK

§ Germany

§ France

§ Italy

§ Spain

§ Rest of Europe

o Asia-Pacific Market

§ China

§ Japan

§ India

§ Rest of APAC

o Rest of the World Market

Company Profiled

o GE HealthCare.

o Enlitic, Inc.

o Medtronic

o Gleamer Ltd.

o IBM Corporation

o EnvoyAI

o VUNO Inc.

o Koninklijke Philips N.V

o Siemens Healthcare GmbH

o Rad AI

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