AI-Assisted Radiology Market Research Report Information by Technique (X-Rays, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), Positron Emission Tomography (PET), Ultrasound, and Others), By Application (Neurology, Mammography, Cardiovascular, Respiratory & 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 2030

Global AI-Assisted Radiology Market Overview

The AI-Assisted radiology market size was valued at USD 7.73 billion in 2022 and is projected to grow from USD 8.26 billion in 2023 to USD 10.02 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 33.18% during the forecast period (2023 - 2030).

This market is being driven by a number of factors, including government initiatives to encourage the use of AI-based technologies, increasing focus on reducing the workload of radiologists, Artificial Intelligence (AI) tools in the medical industry, increased funding for AI-based start-ups by private players, and an increase in cross-industry collaborations and partnerships.Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

AI-Assisted Radiology Trends

• The growing number of chronic diseases fuels market growth

The prevalence of diseases has increased, leading to an increase in the number of diagnostic procedures performed and an increase in market demand. AI-driven radiology also gives patients personalized care, better diagnosis, and earlier detection. Furthermore, in high-income nations, AI-based radiology is growing in popularity to numerous technological advancements.

Moreover, one of the innovations that made it possible to automate radiology processing was the development of integrated rtiI software that is simple to integrate into imaging devices like MRI or CT scanners. The use of smartphones for non-invasive condition screening by front-line healthcare professionals and the incorporation of artificial intelligence (AI) into medical radiology are additional developments that are fueling the AI-assisted radiology market.

AI-Assisted Radiology Segment Insights

AI-Assisted Radiology Technique Insights

The AI-Assisted Radiology Market segmentation, based on technique, includes X-rays, magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), ultrasound, and others. The computed tomography segment held the majority share in the market in 2022 because the more common imaging method is used for many clinical results. Major and minor suppliers are offering a wide range of AI-based radiology solutions for the CT scan. When compared to other methods, the CT scan collects more comprehensive data. Additionally, it has not been demonstrated that CT scans' low radiation levels are harmful in the long run.

AI-Assisted Radiology Application Insights

The AI-Assisted Radiology Market segmentation, based on application, includes neurology, mammography, cardiovascular, respiratory & pulmonary, orthopedics, and others. The neurology segment dominated the market in 2022 due to the increased use of AI in neurology as it helps in higher accuracy, better patient care, and high efficiency. Furthermore, AI is used in neuro-vascular disease detection, neuro-oncology, neurosurgery, and traumatic brain injury detection.

Figure 2: AI-Assisted Radiology Market, by Application, 2022 & 2030 (USD Billion)Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

AI-Assisted Radiology End User Insights

Based on end user, the global AI-assisted radiology industry has been segmented into the hospitals, diagnostic imaging centers, and others. The hospital's segment is held the largest market share in 2022, owing to favorable reimbursement regulations and is preferred by patients for the treatment process due to the convenience & a variety of product offerings in one place. For instance, AI-based imaging technology was employed more in hospitals than in diagnostic centers, according to the American Hospital Association's 2020 annual study.

AI-Assisted Radiology Regional Insights

By Region, the study segments the market into North America, Europe, Asia-Pacific, and Rest of the World. North America AI-assisted radiology surgeries accounted for the largest market share in 2022, due to the highly superior infrastructure and high per capita income. Furthermore, the existence of a high number of market competitors in the area, as well as supportive government policies, are pushing the market for AI-assisted radiology market. For instance, in June 2021, Avicenna.AI (France), got FDA clearance for CINA-LVO, CINA-ICH, and neurovascular emergency applications and is accessible on the Nuance AI marketplace. It offers a single point of entry to a diverse set of AI diagnostic models within the radiology platform offering.

Further, the major countries will be study are: The US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 3: AI-ASSISTED RADIOLOGY MARKET BY REGION 2022 & 2030Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe AI-assisted radiology market accounted for the second-largest market share due to technology advancements, increasing healthcare expenditure, and increasing prevalence of neurological diseases and cardiovascular diseases. For instance, according to Eurostat, there were 38,900 bypass surgeries performed in Germany in 2020. Furthermore, the Germany m AI-assisted radiology attributed to hold the largest market share, and the France AI-assisted radiology is projected be the fastest growing market in the Europe region.

The Asia-Pacific AI-assisted radiology market is expected to be the fastest growing from 2023 to 2030 owing to the growing incidence of cancer and rising geriatric population in the region. Emerging economies, such as China, Japan, and India, have largest geriatric population. Moreover, China AI-assisted radiology accounted to hold the largest market share, and the India AI-assisted radiology is projected to be the fastest growing market in the Asia-Pacific region.

AI-assisted radiology Key Market Players & Competitive Insights

Major market players are spending a lot of money on R&D to increase their product lines, which will help the AI-assisted radiology market to grow. Market participants are also taking a range of strategic initiatives to grow their worldwide footprint, including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organizations. Competitors in the magnetic resonance imaging (MRI) robot-assisted surgeries industry must offer cost-effective products to expand and survive in an increasingly competitive and rising market environment.

GE Healthcare is part of the General Electric Company. The company's products are sold worldwide, primarily to hospitals, medical facilities, pharmaceutical and biotechnology companies, and the life science research industry. The company provides healthcare technologies in medical imaging, digital solutions, patient monitoring, diagnostics, drug discovery, biopharmaceutical manufacturing technologies, and performance enhancement solutions. General Electric Company has a strong presence in the global market in more than 170 countries.

Moreover, In September 2021, GE Healthcare launched its next-generation, cloud-based Picture Archive and Communication System (PACS) aimed to alleviate the critical scarcity of radiologists. The rising demand for imaging scans has put a burden on radiology departments. Edison True PACS is a game-changing technology that uses AI-enabled decision assistance to assist radiologists in adapting to increased workloads, increasing exam complexity, and improving diagnostic accuracy.

Key Companies in the AI-assisted radiology market includes

• GE Healthcare (US)


• FUJIFILM Corporation (Japan)


• Aidoc (Israel)


• ClariPi Inc. (South Korea)


• IBM Corporation (US)


• Koninklijke Philips N.V. (Netherlands)


• 
  Siemens (Germany)


• Medtronic (Ireland)


• Gleamer (France)


• 
  Agfa-Gevaert Group (Belgium)

AI-Assisted Radiology Industry Developments

November 2023GE Healthcare announces that it has received FDA clearance for its new AI-powered software, VividCath AI, which is designed to help radiologists identify and quantify coronary artery stenoses during cardiac catheterization procedures. VividCath AI is the first AI-powered software to be cleared by the FDA for this purpose.Philips announces that it has received FDA clearance for its new AI-powered software, IntelliSpace Portal AI-Powered Cardiovascular Assessment, which is designed to help radiologists assess the risk of cardiovascular disease in patients who have undergone computed tomography (CT) scans. IntelliSpace Portal AI-Powered Cardiovascular Assessment is the first AI-powered software to be cleared by the FDA for this purpose.Siemens Healthineers announces that it has received FDA clearance for its new AI-powered software, AI-RADS Lung Nodule Assistant, which is designed to help radiologists identify and characterize lung nodules on CT scans. AI-RADS Lung Nodule Assistant is the first AI-powered software to be cleared by the FDA for this purpose.October 2023Lunit announces that it has received FDA clearance for its new AI-powered software, Lunit INSIGHT CXR, which is designed to help radiologists identify and characterize pneumonia on chest X-rays. Lunit INSIGHT CXR is the first AI-powered software to be cleared by the FDA for this purpose.Viz.ai announces that it has received FDA clearance for its new AI-powered software, Viz.ai Stroke, which is designed to help radiologists identify and prioritize patients who are suspected of having a stroke. Viz.ai Stroke is the first AI-powered software to be cleared by the FDA for this purpose.Aidoc announces that it has received FDA clearance for its new AI-powered software, Aidoc CT Abdomen, which is designed to help radiologists identify and characterize a variety of abdominal pathologies on CT scans. Aidoc CT Abdomen is the first AI-powered software to be cleared by the FDA for this purpose.September 2023A study published in the journal Radiology finds that AI-assisted radiology can help to improve the accuracy and efficiency of medical imaging interpretation. The study found that AI-assisted radiology was able to reduce the number of errors made by radiologists by up to 20%.A study published in the journal JAMA finds that AI-assisted radiology can help to improve the quality of care for patients with cancer. The study found that AI-assisted radiology was able to help radiologists to identify and characterize cancer tumors more accurately, which led to better treatment outcomes for patients.

AI-Assisted Radiology Market Segmentation

AI-Assisted Radiology Technique Outlook

• X-Rays


• Magnetic Resonance Imaging (MRI)


• Computed Tomography (CT)


• Positron Emission Tomography (PET)


• Ultrasound


• Others

AI-Assisted Radiology Application Outlook

• Neurology


• Mammography


• Cardiovascular


• Respiratory and Pulmonary


• Orthopedics


• Others

AI-Assisted Radiology End User Outlook

• Hospitals


• Diagnostic Imaging Centers


• Others

AI-Assisted Radiology Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America
  
  
  
  

Report Attribute/Metric	Details
Market Size 2022	USD 7.73 Billion
Market Size 2023	USD 8.26 Billion
Market Size 2030	USD 10.2 Billion
Compound Annual Growth Rate (CAGR)	33.18% (2022-2030)
Base Year	2022
Market Forecast Period	2022-2030
Historical Data	2018 & 2020
Market Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
Segments Covered	Technique, Application, End User & Region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World
Countries Covered	US, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Key Companies Profiled	GE Healthcare (US), FUJIFILM Corporation (Japan), Aidoc (Israel), ClariPi Inc. (South Korea), IBM Corporation (US), Koninklijke Philips N.V. (Netherlands), Siemens (Germany), Medtronic (Ireland), Gleamer (France), Agfa-Gevaert Group (Belgium)
Key Market Opportunities	An increase in the number of diagnostic procedures performed and an increase in market demand
Key Market Dynamics	The growing number of chronic diseases fuels market growth