AI-Based Medical Imaging Market to Reach $11,921.4 Million by 2030, says P&S Intelligence

NEW YORK, July 23, 2022 /PRNewswire/ -- According to the latest market research report published by P&S Intelligence, in 2021, the AI-based medical imaging market accounted for $1,093.0 million, which is predicted to hit $11,921.4 million by 2030, growing at a huge rate of 30.4% from 2021 to 2030. The key aspects driving the market are the increasing cases of chronic diseases, growing need for medical services for the elderly, and snowballing R&D investment in the healthcare industry.

The technological developments and digitization in the healthcare industry also drive the growth of the market. Medical imaging, which is utilized for disease detection and therapy, is one of the industry's most-significant cornerstones. Due to its sensitivity and accuracy in identifying abnormalities, AI has a wide range of uses in the medical field.

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Key Points of AI-Based Medical Imaging Market Report

·  CT scans have the largest revenue share, of almost 30%, and the category would continue to lead the AI-based medical imaging market in the near future. This is explained by the increase in the prevalence of cardiovascular diseases and cancer, as well as the growing need for AI-integrated advanced medical imaging solutions.

• It is predicted that among all modalities, the integration of AI in MRI will grow the fastest between 2021 and 2030. The use of AI to image the anatomy, which aids doctors in providing proper patient care, can be attributed for this growth.
• Around 50% of the AI-based medical imaging market share is accounted for by the deep learning technology, which is also expected to lead the market during the forecast period. This is because it is frequently used to diagnose and differentiate between viral and bacterial pneumonia on pediatric chest radiographs and has excellent extraction capabilities.
• The hospitals category is predicted to grow with a CAGR of 30% in the coming years. This is driven by the fact that hospitals are omnipresent, simple to reach, and preferred over alternative medical institutions.
• The neurology category will advance at the highest CAGR in the coming years. This is attributed to a significant number of suppliers developing AI-based medical imaging systems and devices for neurological illnesses, as well as the abundance of medical imaging data in this field.

Browse detailed report on AI-Based Medical Imaging Market Size, Share and Demand Forecast Report 2030

The North American market holds the biggest share, and it is predicted to continue the trend in the future. This is because of the high rate of adoption of cutting-edge technologies in the healthcare industry and the existence of significant players.

In addition, the APAC AI-based medical imaging market is predicted to grow at a significant CAGR, of over 30%, in the coming years. The region's aging population, rising healthcare costs, and surging investments by public and private players are all contributing factors in this exponential growth.

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SOURCE P&S Intelligence