The artificial intelligence (ai) radiology tool global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Artificial Intelligence (AI) Radiology Tool Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The artificial intelligence (AI) radiology tool market size has grown rapidly in recent years. It will grow from $1.26 billion in 2023 to $1.48 billion in 2024 at a compound annual growth rate (CAGR) of 17.8%. The growth in the historic period can be attributed to governmental support, AI is integrated into radiology tools to increase accuracy and reduce error percentage, increasing shift toward personalized and precision medicine, application of artificial intelligence (AI) to medical imaging, and improvement in diagnostic accuracy and efficiency.
The artificial intelligence (AI) radiology tool market size is expected to see rapid growth in the next few years. It will grow to $2.88 billion in 2028 at a compound annual growth rate (CAGR) of 18.1%. The growth in the forecast period can be attributed to increasing demand for efficient diagnostic solutions, growing demand for accurate and precise diagnostics results, growth of the technological infrastructure, increasing imaging volumes, and increasing adoption of artificial intelligence (AI) technology. Major trends in the forecast period include technological advancements in artificial intelligence, expansion of ai integration in healthcare systems, rising adoption of telemedicine and remote imaging, proactive medical approach, and increasing demand for efficient diagnostic solutions.
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Scope Of Artificial Intelligence (AI) Radiology Tool Market
The Business Research Company’s reports encompass a wide range of information, including:
- Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
- Drivers: Examination of the key factors propelling market growth.
- Trends: Identification of emerging trends and patterns shaping the market landscape.
- Key Segments: Breakdown of the market into its primary segments and their respective performance.
- Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
- Macro Economic Factors: Assessment of broader economic elements impacting the market.
Artificial Intelligence (AI) Radiology Tool Market Overview
Market Drivers –
The increasing shift toward personalized medicine is expected to propel the growth of the artificial intelligence (AI) radiology tool market going forward. Personalized medicine, also known as precision medicine, is an innovative medical approach that tailors treatment and healthcare strategies to the individual characteristics of each patient. The increasing shift toward personalized medicine is driven by a combination of crucial elements, such as progress in genomics and molecular biology. AI radiology tools enhance personalized medicine by providing precise diagnostics, predictive analytics, real-time treatment response monitoring, integration with genomic data, and improved patient stratification, enabling individualized and effective healthcare interventions. For instance, in February 2024, according to the Personalized Medicine Coalition, a US-based non-profit organization, the FDA approved 16 novel personalized therapies for patients with rare diseases in 2023, compared to six in 2022. Therefore, the increasing shift toward personalized medicine drives the artificial intelligence (AI)radiology tool market.
Market Trends –
Major companies operating in the artificial intelligence (AI) radiology tool market are developing advanced solutions, such as artificial intelligence platforms, to enhance the diagnostic capabilities of radiologists. Advanced artificial intelligence platform integrates AI algorithms to analyze medical imaging data, providing radiologists with augmented insights and aiding in the accurate detection and diagnosis of various medical conditions. For instance, in November 2023, Radiology Partners (RP), a US-based radiology practice company, launched RPX AI, a cloud-based advanced artificial intelligence platform for rapidly deploying AI medical imaging tools at scale, utilizing Amazon Web Services (AWS) HealthImaging. This platform aims to simplify the integration and implementation process for medical imaging AI models, making them more accessible and efficient for hospitals and health systems.
The artificial intelligence (AI) radiology tool market covered in this report is segmented –
1) By Type: Diagnostic Radiology, Interventional Radiology
2) By Application: Eye Care, Oncology, Radiology, Cardiovascular, Pathology, Other Applications
3) By End-User: Clinics, Hospitals, Diagnostic Centers, Other End-Users
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Regional Insights –
North America was the largest region in the artificial intelligence (AI) radiology tool market in 2023. The regions covered in the artificial intelligence (AI) radiology tool market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the artificial intelligence (AI) radiology tool market are <b>Google LLC, Samsung Electronics Co. Ltd, Microsoft Corporation, Intel Corporation, International Business Machines Corp., NVIDIA Corporation, Siemens Healthcare Private Limited, Koninklijke Philips N.V., GE HealthCare, Nuance Communications Inc., Aidoc Medical, OXOS Medical, Subtle Medical Inc., Enlitic Inc., Arterys Inc., Aidence.com, Oxipit.ai, Zebra Medical Vision, CellmatiQ GmbH, Azmed</b>
Table of Contents
1. Executive Summary
2. Artificial Intelligence (AI) Radiology Tool Market Report Structure
3. Artificial Intelligence (AI) Radiology Tool Market Trends And Strategies
4. Artificial Intelligence (AI) Radiology Tool Market – Macro Economic Scenario
5. Artificial Intelligence (AI) Radiology Tool Market Size And Growth
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27. Artificial Intelligence (AI) Radiology Tool Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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