What Has Been The Evolution of the Artificial Intelligence (AI) Radiology Tool Market in Recent Years?
The artificial intelligence (ai) radiology tool market has seen considerable growth due to a variety of factors.
• The artificial intelligence (AI) radiology tool market has grown rapidly in recent years. It will rise from $1.48 billion in 2024 to $1.75 billion in 2025, at a compound annual growth rate (CAGR) of 18.3%.
This growth is driven by government support, the integration of AI into radiology tools for greater accuracy, the shift toward personalized medicine, the use of AI in medical imaging, and improved diagnostic efficiency.
What Is the Forecasted Market Size and Growth Rate for The Artificial Intelligence (AI) Radiology Tool Market Size In The Coming Years?
The artificial intelligence (ai) radiology tool market is expected to maintain its strong growth trajectory in upcoming years.
• The artificial intelligence (AI) radiology tool market is expected to see rapid growth, reaching $3.4 billion by 2029 with a CAGR of 18.0%.
The growth is attributed to increasing demand for efficient diagnostics, more precise diagnostic results, expanding technological infrastructure, rising imaging volumes, and AI adoption. Key trends include advancements in AI, expanded integration into healthcare systems, growing adoption of telemedicine, proactive medical approaches, and efficient diagnostic solutions.
What Factors Are Driving Growth In The Artificial Intelligence (AI) Radiology Tool Market?
The growing shift toward personalized medicine is expected to fuel the growth of the AI radiology tool market. Personalized medicine tailors treatment to individual patient characteristics, and AI tools help provide precise diagnostics and predictive analytics. For instance, in February 2024, it was reported that the FDA approved 16 personalized therapies in 2023, compared to six in 2022. The shift toward personalized medicine is driving the AI radiology tool market.
What Are The Main Segments Of The Global Artificial Intelligence (AI) Radiology Tool Market?
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
Subsegments:
1) By Diagnostic Radiology: Ai For Image Interpretation (Detecting Fractures, Tumors, Or Abnormalities), Ai In Ct (Computed Tomography) Scanning, Ai In Mri (Magnetic Resonance Imaging) Scanning, Ai For X-Ray Imaging And Analysis, Ai In Ultrasound Imaging, Ai-Based Computer-Aided Detection (Cad) Systems, Ai For Radiology Workflow Automation (Prioritizing Cases, Report Generation)
2) By Interventional Radiology: Ai For Image-Guided Procedures (Guiding Catheter Placement), Ai In Minimally Invasive Surgery (Tumor Ablation, Biopsies), Ai For Real-Time Decision Support In Interventional Procedures, Ai In Radiation Dose Optimization For Interventional Radiology, Ai-Assisted Navigation Systems For Procedures Like Angioplasty, Ai In Post-Procedure Monitoring And Outcome Prediction
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How Are Emerging Trends Reshaping The Dynamics Of The Artificial Intelligence (AI) Radiology Tool Market?
In the AI radiology tools market, companies are developing advanced AI platforms to augment the diagnostic capabilities of radiologists by analyzing medical imaging data. These platforms help detect medical conditions with greater accuracy. For instance, in November 2023, Radiology Partners (RP), a US-based radiology practice company, launched RPX AI, a cloud-based platform that integrates AI tools for medical imaging. This platform facilitates the rapid deployment and integration of AI models in hospitals, making the use of medical imaging AI more accessible and efficient.
Who Are the Key Players In The Artificial Intelligence (AI) Radiology Tool Market?
Major companies operating in the artificial intelligence (AI) radiology tool market are:
• 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
What Is The Most Dominant Region In The Artificial Intelligence (AI) Radiology Tool Market?
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.
