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Artificial Intelligence in Radiology Market 2021 Size Share Upcoming Trends Segmentation and Forecast to 2025 CAGR Of 35.9%
Artificial Intelligence In Radiology Market Size, Share, Region Wise Analysis Of Top Players, Growth Rate, Outlook, And Opportunity Analysis 2020-2025
Increasing adoption of new technologies and smart solutions with the help of artificial intelligence is the next revolution in patient care driving the market growth
Global Artificial Intelligence in Radiology Market is valued at USD 21.5 Million in 2018 and expected to reach USD 181.1 Million by 2025 with a CAGR of 35.9% over the forecast period.
Some major key players for artificial intelligence in radiology market are AI Technologies Ltd., Enlitic, Inc., EnvoyAI, Freenome Inc., Gleamer Ltd., IBM Corporation and others.
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Artificial intelligence also known as machine intelligence is a branch of computer science that works to create intelligent machines. The use of artificial intelligence has been rapidly progressing in medicine, particularly in radiology. In radiology, it is used to identify the onset of diseases at early stage and enable to plan the treatment for long term needs and offer the highest level of accuracy. AI is used in medical field as clinical decision support and information management (for both physician as well as patients) and can modify the practice of radiology in processes such as detection & prioritization, monitoring & registration, image acquisition and reporting. This technology can be used to analyze medical imaging solutions to identify most effective solution for acute abnormalities across both human as well as animal bodies. It can add a layer of precision and consistency to the search for anomalies if something goes unnoticed. Time sensitive cases like stroke treatments can be diagnosed faster by operating AI systems. The challenges in this field now become identifying opportunities for reducing inefficiencies in radiology workflow through AI integration.
By Radiology Type:
- Chest Imaging
- Head CT Scan
- Rest of the body
- Computer-aided Diagnosis
- Clinical Decision Support
- Quantitative Analysis Tools
- Computer-aided Detection
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Positron Emission Tomography (PET)
By Regional & Country Analysis:
North America (USA, Canada, Mexico), Europe (UK, France, Germany, Russia, Rest of Europe), Asia-Pacific (China, South Korea, India, Japan, Rest of Asia-Pacific), LAMEA, Latin America, Middle East, Africa
The artificial intelligence in radiology market by region is segmented into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. North America has captured the largest market share and is expected to continue the same over the forecast period owing to the well-established healthcare and medicine systems that supports the use of new technologies in this region. Startups receiving the most investors’ attention in AI due to which the market in North America is anticipated to observe high growth. The national institutes of health (NIH) held a workshop to explore the future of AI in medical imaging in which they found imaging research laboratories are swiftly generating machine learning systems that achieve expert human performance using open source methods and tools shows R&D developments in North America. Asia-Pacific countries are expected to show fast growth in the forthcoming years because of the growing technologies in imaging and biotechnology sectors and Government initiatives & increasing healthcare expenditures. In addition to this, presence of large number of patients and population pool will foster the market growth in this region within the forecast period. Based on the size of its population and huge volume of accessible digital medical data, china has significant advantage in developing medical AI and thus emerging as a popular hub for healthcare AI in radiology.