Expanding the gap between the increasing number of available radiologists and the number of scans to interpret data is expected to drive market expansion in the near future at a CAGR of 31.50% during the forecast period 2024 to 2032.

Market Research Future (MRFR) has published a cooked research report on the “Global AI in Radiology Market” that contains information from 2019 to 2032. The AI in Radiology market is estimated to register a CAGR of 31.50% during the forecast period of 2024 to 2032.

MRFR recognizes the following companies as the key players in the global AI in Radiology market— GE Healthcare, InformAI LLC, Koninklijke Philips N.V, Nanox Imaging LTD., IBM Watson Health, Intel Corporation, Lunit Inc., Arterys, AZmed, Caption Health, Gleamer, and Butterfly Networks.

Market Highlights

The global AI in Radiology market is accounted to register a CAGR of 31.50% during the forecast period and is estimated to reach USD XX billion by 2032.

The increasing use of AI for picture recognition and quantification processes is also anticipated to propel market expansion. For example, in order to guarantee early identification of age-related macular degeneration, Moorfields Eye Hospital and Google's AI platform, Deepmind, worked together to observe all eye scans conducted using an optical CT scanner. The market's growth is limited by the high cost of different artificial intelligence techniques in medical imaging samples and other diagnostic equipment for a wide range of disorders.

Segment Analysis

The global AI in Radiology market has been segmented based on Modality, Application, and End-user.

On the basis of modality, the market is segmented into X-ray, Computed tomography (CT), Magnetic Resonance Imaging (MRI), Ultrasound imaging, and Molecular imaging. The computed tomography (CT) segment was attributed to holding the largest market share in 2023. This is due to the fact that many clinical outcomes need using a higher level of imaging.

Based on application, the global AI in Radiology market has been segmented into Breast imaging, Lung imaging, Neurology, Cardiovascular applications, Liver imaging, and other applications. The neurology segment was expected to hold the largest market share in 2023. This is because more artificial intelligence (AI) is being used in neurology to improve patient care.

Based on end-user, the global AI in Radiology market has been segmented into Hospitals, Clinics, Diagnostic Centers, and Other end users. The hospitals segment was expected to hold the largest market share in 2023. This is a result of the convenience and variety of the items being in one place at the time of treatment.

Regional Analysis

The global AI in Radiology market, based on region, has been divided into North America, Europe, Asia-Pacific, and Rest of the World. North America consists of the US and Canada. The Europe AI in Radiology market comprises of Germany, France, the UK, Italy, Spain, and the rest of Europe. The AI in Radiology market in Asia-Pacific has been segmented into China, India, Japan, Australia, South Korea, and the rest of Asia-Pacific. The Rest of the World AI in Radiology market comprises the Middle East, Africa, and Latin America.

The largest market share for AI in Radiology was maintained by the North American regional sector. This increase is due to its highly developed healthcare infrastructure, disposable affluence, and superior technological capabilities; North America leads the world in artificial intelligence for medical imaging. Government restrictions and the presence of several market competitors are the primary drivers of market expansion in the region. AI systems are able to precisely evaluate medical images, which makes it easier for radiologists to identify anomalies and illnesses. In the end, better patient outcomes may result from earlier detection and treatment.

Moreover, the Europe market has been persistently growing over the forecast period. The demand for AI in Radiology is driven by rising AI technologies in radiology, which are being progressively used by European healthcare providers in an effort to improve patient care and optimize workflows. AI-based solutions are being integrated into radiology departments in hospitals, clinics, and imaging centers.

Additionally, Asia-Pacific's rapidly developing healthcare infrastructure is likely to fuel significant growth in the region, as well as the growing number of artificial intelligence-based startups, because of the widespread use of cutting-edge technologies, improved network accessibility, and expanded government initiatives. Driving reasons also include the growing number of artificial intelligence (AI) startups, especially in China and India, and the quickly rising investment.

Furthermore, the rest of the world's AI in Radiology market is divided into the Middle East, Africa, and Latin America. This growth is attributed to the increasing use of AI for picture recognition and quantification processes. Government support, a rise in investor interest, and the viability of the technology in the sector are all contributing factors to the market expansion.

Key Findings of the Study

• The global AI in Radiology market is expected to reach USD XX billion by 2032, at a CAGR of 31.50% during the forecast period.
  
  


• The Asia-Pacific region accounted for the fastest-growing global market due to the growing number of artificial intelligence-based startups because of the widespread use of cutting-edge technologies and expanded government initiatives.
  
  


• Based on application, the neurology segment was expected to hold the largest market share in 2023.
  
  


• GE Healthcare, InformAI LLC, Koninklijke Philips N.V, Nanox Imaging LTD., IBM Watson Health, Intel Corporation, Lunit Inc., Arterys, AZmed, Caption Health, Gleamer, Butterfly Network, and others.