What Has Been the Growth of the Generative Artificial Intelligence (AI) In Medical Imaging Market So Far?
The generative artificial intelligence (ai) in medical imaging market has seen considerable growth due to a variety of factors.
• The market size for generative artificial intelligence (AI) in medical imaging has seen exceptional growth in recent times. The forecasted progression is from $1.39 billion in 2024 to $1.87 billion in 2025, maintaining a compound annual growth rate (CAGR) of 34.4%.
The factors fueling this exponential growth during the historic period include the rise of telemedicine, an expansion in healthcare, a transition to more patient-focused care models, a surge in demand for accurate diagnostics, and incentivizing government programs and funding.
How Will the Generative Artificial Intelligence (AI) In Medical Imaging Market Size Evolve over the Forecast Period?
The generative artificial intelligence (ai) in medical imaging market is expected to maintain its strong growth trajectory in upcoming years.
• In the coming years, the market size of generative artificial intelligence (AI) in medical imaging is anticipated to witness significant expansion. It is forecasted to reach a valuation of $6.06 billion in the year 2029, with a compound annual growth rate (CAGR) of 34.1%.
This prospective growth during the forecast period can be attributed to factors such as heightened awareness concerning healthcare, escalated levels of investment and collaboration, growing regulatory support, rising capabilities for data augmentation and an increasing flow of medical imaging data. Key trends expected to be prevalent during the forecast span include the integration of multi-modal, the enhancement of diagnostic accuracy, real-time image improvement, advanced 3D visualization, and interoperability with electronic health records (EHRs).
What Factors Are Driving Growth In The Generative Artificial Intelligence (AI) In Medical Imaging Market?
The rise in chronic illnesses is projected to fuel the expansion of generative artificial intelligence (AI) in the medical imaging market. Chronic diseases, which are enduring health problems, often lasting throughout a person's lifetime, are becoming more prevalent due to factors such as poor dietary habits, lack of physical activity, and exposure to harmful environments. The use of generative AI in medical imaging can aid in the management of chronic diseases by enhancing early diagnosis, increasing the precision of diagnoses, and customizing treatment plans via the sophisticated analysis and synthesis of intricate imaging data. For example, the World Health Organization, a Swiss organization responsible for global public health, reported approximately 4.1 million deaths annually in September 2022 as a result of chronic respiratory diseases. Hence, the growing prevalence of chronic diseases is steering the development of generative artificial intelligence (AI) in the medical imaging market.
What Key Areas Define The Segmentation Of The Global Generative Artificial Intelligence (AI) In Medical Imaging Market?
The generative artificial intelligence (AI) in medical imaging market covered in this report is segmented –
1) By Type: Generative Adversarial Networks (GANs), Variational Autoencoders (VAEs), Other Types
2) By Imaging: Modality, Magnetic Resonance Imaging (MRI), Computed Tomography (CT), X-Ray, Ultrasound, Other Modalities
3) By Application: Diagnosis, Image Reconstruction, Image Enhancement, Disease Progression Monitoring, Other Applications
4) By End-User: Hospitals, Diagnostic Centers, Research Institutes, Other End-Users
Subsegments:
1) By Generative Adversarial Networks (GANs): Image Synthesis And Reconstruction, Data Augmentation For Training Models, Image Super-Resolution, Denoising And Artifact Removal In Medical Images
2) By Variational Autoencoders (VAEs): Anomaly Detection In Medical Imaging, Latent Space Representation For Medical Image Analysis, Data Compression And Reconstruction, Multimodal Medical Image Synthesis
3) By Other Types: Deep Convolutional Networks For Imaging, Transformer Networks In Medical Imaging, Hybrid Models, Reinforcement Learning In Image Diagnostics
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How Are Emerging Trends Reshaping The Dynamics Of The Generative Artificial Intelligence (AI) In Medical Imaging Market?
Dominant organizations in the generative AI in medical imaging sector are leveraging collaborations to develop AI tools specifically for medical imaging. These tools will help to improve diagnostic precision, expedite R&D, and streamline operational procedures. Generative AI tools are essentially sophisticated algorithms, chiefly deep learning and generative models, which create, amplify, or interpret medical imagery. For example, in February 2024, US-based AI imaging model developer, HOPPR, introduced an innovative foundation model called Grace, which it developed in partnership with AWS, a US-based cloud computing firm. As a generative AI foundation model, Grace is geared towards optimizing medical imaging by speeding up the development process, analyzing a broad spectrum of grayscale hues, and encouraging multi-modal learning via a user-friendly API. The model's API accessibility ensures easy assimilation into varying applications and holds the potential to revolutionize radiology procedures and enhance patient results. The profound insights provided by Grace into medical imaging will empower clinicians to make more informed decisions, which could lead to prompt interventions and superior treatment outcomes.
Who Are the Key Players in the Generative Artificial Intelligence (AI) In Medical Imaging Market?
Major companies operating in the generative artificial intelligence (AI) in medical imaging market are include:
•Google LLC
• Siemens AG
• NVIDIA Corporation
• Philips Healthcare
• GE Healthcare
• VSP Global
• HOPPR.AI
• Successive Technologies Inc.
• Canon Medical Systems Corporation
• Aidoc Inc.
• Viz.ai Inc.
• Qure.ai Technologies Pvt. Ltd.
• Yellow.ai
• XenonStack Inc.
• Arterys Inc.
• Quantib B.V.
• Niramai Health Analytix Pvt Ltd.
• Kheiron Medical Technologies Ltd.
• QSS Technosoft Inc.
• Subtle Medical Inc.
• Enlitic Inc
What Is The Most Dominant Region In The Generative Artificial Intelligence (AI) In Medical Imaging Market?
North America was the largest region in the generative artificial intelligence (AI) in medical imaging market in 2024. The regions covered in the generative artificial intelligence (AI) in medical imaging market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
