AI Market in Medical Imaging - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)

The AI Market in Medical Imaging is segmented by Offering (Software Tools/Platform and Services), Image Acquisition Technology (X-Ray, Computed Tomography, Magnetic Resonance Imaging, Ultrasound Imaging, and Molecular Imaging), End-User (Hospitals, Clinics, and Research Laboratories and Diagnostic Centers), and Geography.

Medical Imaging AI Industry Overview

AI In Medical Imaging Market Size
Study Period: 2018 - 2028
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 30.4 %

Major Players


*Disclaimer: Major Players sorted in no particular order


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Medical Imaging AI Market Analysis

The AI Market in Medical Imaging is expected to register a CAGR of 30.4% over the forecast period from 2022 - 2027. The growing aging population, coupled with rising investment in the healthcare ecosystem, is expected to impact overall market growth over the forecast period positively. Developed nations have been facing this demographic challenge and have been investing in bringing affordable and advanced healthcare systems to the people, thereby providing impetus to the market. Additionally, a computed tomography (CT) scan can detect small lesions in the lungs that go undetected on an x-ray. Confirmative, diagnostic, and supportive are different uses of X-rays in the medical domain.

  • One of the most promising areas of health innovation is the application of artificial intelligence (AI) in medical imaging, including, but not limited to, image processing and interpretation. AI in medical imaging not only reduces the time of detection but also increases the accuracy of detection and helps diagnose health issues on time. For instance, researchers at the Mount Sinai Hospital used Triton from Gauss Surgical to drive hemorrhage protocols, leading to a 2-4 times increase in hemorrhage recognition in both c-sections and vaginal deliveries, a 34% reduction in delayed interventions to control bleeding, and USD 209,000 annualized cost avoidance from unnecessary transfusions and lab tests.
  • Software incorporating artificial intelligence (AI), particularly the subset of AI known as machine learning (ML), has become an increasingly significant feature of several medical devices as technology advances in every aspect of healthcare. One of the most significant benefits of machine learning is its ability to extract new and valuable insights from the massive amounts of data gathered every day when providing healthcare.
  • The COVID-19 pandemic disrupted almost every industry, including healthcare. Among the most used COVID-19 screening options, imaging has been preferred by most healthcare professionals, as it provides a crucial diagnosis in a short time. All the imaging results have been used exhaustively to study the virus and its effect on different demography patients. Therefore, AI in Medical Imaging is expected to grow at a higher rate. With almost every healthcare organization putting efforts into managing better and stopping the spread of COVID-19, multiple organizations have turned to medical imaging and imaging analytics tools to improve the virus's detection and prevention.
  • Software incorporating artificial intelligence (AI), particularly the subset of AI known as machine learning (ML), has become an increasingly significant feature of several medical devices as technology advances in every aspect of healthcare. One of the most significant benefits of machine learning is its ability to extract new and valuable insights from the massive amounts of data gathered every day when providing healthcare.

Medical Imaging AI Industry Segments

Medical imaging can be described as the diagnostic procedure that involves the creation of visual aids and image representations of the human body and involves monitoring the performance and functioning of the organs of the human body. With the integration of artificial intelligence (AI) in healthcare and medical imaging, there is a change in how the diagnostics and the entire procedure are carried out. The AI assists the surgeons in carrying out the image capturing process and how to diagnose these images for the conclusion and personalized treatment concerning every individual and patient.

By Offering
Software Tools/Platform
By Image Acquisition Technology
Computed Tomography
Magnetic Resonance Imaging
Ultrasound Imaging
Molecular Imaging
By End User
Research Laboratories & Diagnostic Centers
Other End Users
By Geography
North America
Rest of the World

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Medical Imaging AI Market Trends

This section covers the major market trends shaping the Medical Imaging AI Market according to our research experts:

Computed Tomography is Expected to Drive the Market Growth

  • The major factors for the growth of the computed tomography (C.T.) market include the growing prevalence of various lifestyle-associated chronic diseases such as cancer and cardiovascular conditions and increasing demand for advanced imaging solutions integrated with A.I. and further investment in AI-enabled solutions are some of the factors expected to drive the overall market growth. Increasing demand for advanced assessment tools in the emergency department and a growing number of ambulatory emergency care units are the drivers expected to positively impact the C.T. market growth, which will boost the overall demand for the A.I. market in medical imaging.
  • Image noise resulting from low-dose C.T. procedures causes a negative cascading effect on the quality, efficiency, and cost of imaging services. AI-based DLR and post-processing techniques are able to process C.T. images in a matter of seconds — to reduce image noise across a much broader range of doses and exam types than I.R.
  • In October 2021, ClariPi Inc. announced that its ClariCT.AI software would be available on the Nuance A.I. Marketplace. The portal will provide one-stop access to a wide range of A.I. diagnostic models from within the industry’s most widely used radiology reporting platform. Having the ClariCT.AI on the Nuance A.I. Marketplace will ensure easy accessibility through cloud-based distribution and deployment.
  • According to the American Cancer Society, a total of 236,740 new cases of lung and bronchus cancer are estimated in 2022 in the United States. Further, a CT scan can help in showing the shape, size, and accurate position of any lung tumor and can even help in cases where there is a risk of developing lung cancer without the individual seeing any signs or symptoms of the disease.
  • In computed tomography (C.T.), A.I. holds the promise of enabling further reductions in patient radiation dose through automation and optimization of data acquisition processes, including patient positioning and acquisition parameter settings. The players in the market are introducing advancements to cater to the rising need for C.T. scans in the studied market. For instance, In August 2022, Xoran Technologies announced that it received FDA 510(k) clearance for TRON, a truly mobile, full-body fluoroscopy, computed tomography (C.T.) X-ray system. It is designed to provide safe, ultra-high-resolution, low-dose imaging in traditional settings such as the operating room, surgery center, and critical care unit.
AI Market in Medical Imaging

Asia-Pacific to Witness Highest Growth

  • In the Asia Pacific, artificial intelligence in healthcare is expected to witness lucrative growth over the forecast period, owing to rising R&D expenditure and developments in the pharmaceutical and biotechnology sectors.
  • Additionally, the presence of a significant patient pool will trigger demand for better healthcare services, develop healthcare infrastructure, and increase disposable income to support further the growth of AI in Medical Imaging in the region. Furthermore, spending in the healthcare sector gained heightened traction. Economies in the region are increasingly concentrating on developing a robust healthcare infrastructure for patient diagnoses and treatment. According to Invest India, India's hospital sector, accounting for 80% of the total healthcare market, is observing a significant investor interest from both global and domestic investors.
  • Furthermore, AI medical imaging is one of the most common AI applications in the healthcare industry in China. It is currently the second-largest market segment of AI medical applications in China and was predicted to grow at a growth rate of more than 40% and reach a scale of USD 2.5 billion in 2024 (source: Ministry of Foreign Affairs of Denmark). There is a considerable gap in the number of professional doctors in medical imaging in China. The medical imaging dataset increases by 30% every year in China, which also accounts for 90% of the digital data volume for a hospital. In contrast, the number of radiologists increases by only 4% a year. AI medical imaging in China is considered by industry insiders to be the first market to commercialize AI in the healthcare industry in China.
  • The spread of COVID-19 has urged medical technology-related companies to shift to commercial production of equipment rapidly. Under normal conditions, companies are centering on activities such as approaching customers. Amid the abrupt increase in demand for medical examinations, new services such as online hospitals, temperature checks by AI, remote medical care, and delivery of drugs via the internet are rapidly moving toward practical use.
  • The coronavirus has brought a lot of awareness to the medical industry in the region. In August 2021, according to a new radiology industry study released by Royal Philips, eight out of ten radiologists in Singapore, Australia, and South Korea (80%) believed that artificial intelligence (AI) is expected to be integrated into their current clinical workflow, enabling more confident diagnosis and data processing.
AI Market in Medical Imaging

Medical Imaging AI Market Competitor Analysis

The AI Market in Medical Imaging is highly competitive, owing to the presence of a large number of players in market operating in the domestic and international markets. The market appears to be moderately fragmented. Due to the increase in AI applications in the medical imaging market, major players are adopting strategies like product innovation, partnership, mergers, and acquisition. Some of the key developments are:

  • September 2021 - GE Healthcare unveiled its next-generation, cloud-based Picture Archive and Communication System (PACS), designed to address the acute shortage of radiologists. The growing demand for imaging scans has put radiology departments under increased strain. Edison True PACS is a transformative system offering AI-enabled decision support to help radiologists adapt to higher workloads, increase exam complexity, and improve diagnostic accuracy.
  • September 2021 - FUJIFILM Corporation introduced a project verifying its AI technology's efficacy that assists diagnostic imaging in India as a new initiative in the company's health screening service business for emerging countries. This project is expected to be conducted at the "NURA," a health screening center that Fujifilm opened in India in February this year. It has been determined as one of the "Asia Digital Transformation Promotion Projects" by the Japanese Ministry of Economic, Trade, and Industry to identify its potential in contributing to solving social issues in the fast-growing emerging countries in Asia.
  • May 2021 - Aidoc, the provider of AI solutions for medical imaging, announced that the Unfallkrankenhaus Berlin hospital has chosen Aidoc's entire suite of AI solutions to prioritize and expedite treatment for patients with life-threatening and severe diseases. The Berlin medical center also offers teleradiology services to 20 regional hospitals, allowing patients from all around the region to get quality medical care.

Medical Imaging AI Market Top Players

  1. Siemens Healthineers AG

  2. GE Healthcare

  3. IBM Watson Health

  4. BenevolentAI

  5. Philips Healthcare

*Disclaimer: Major Players sorted in no particular order

AI Market in Medical Imaging - Market Concentration.png

Medical Imaging AI Market Recent Developments

  • July 2022 - Exo, the health information and medical devices company, announced the acquisition of Medo, a developer of artificial intelligence (AI) technology based in Canada to enhance ultrasound imaging by making it faster and easier by integrating Medo’s proprietary Sweep AI technology into its ultrasound platform, and make ultrasound imaging widely accessible to a broader range of healthcare providers.
  • December 2021 - Medo, a technology firm that uses artificial intelligence (AI) to simplify ultrasound in healthcare, and Medical Imaging Consultants (MIC), Western Canada's radiology partnership, announced a collaboration to redefine diagnostic imaging. According to the firm, artificial intelligence is only the beginning of MIC thyroid tests. Using Medo's technologies may significantly simplify and improve the objectivity and accuracy of many examinations. This collaboration is a promising first step toward bridging the gap between technological and product innovation and real-world application.

Medical Imaging AI Market Report - Table of Contents


    1. 1.1 Study Assumptions and Market Definition

    2. 1.2 Scope of the Study




    1. 4.1 Market Overview

    2. 4.2 Industry Attractiveness - Porter's Five Forces Analysis

      1. 4.2.1 Threat of New Entrants

      2. 4.2.2 Bargaining Power of Buyers/Consumers

      3. 4.2.3 Bargaining Power of Suppliers

      4. 4.2.4 Threat of Substitute Products

      5. 4.2.5 Intensity of Competitive Rivalry

    3. 4.3 Technology Snapshot - By Technology

      1. 4.3.1 Deep Learning

      2. 4.3.2 Computer Vision

      3. 4.3.3 Natural Language Processing

      4. 4.3.4 Other Technologies

    4. 4.4 Industry Value Chain Analysis

    5. 4.5 COVID-19 Influence on the AI Market in Medical Imaging


    1. 5.1 Market Drivers

      1. 5.1.1 Increasing Imaging Volumes

      2. 5.1.2 Ability and Achievement of Personalized Treatment and Improved Procedures and Treatments for Patients

    2. 5.2 Market Restraints

      1. 5.2.1 High Cost and Reluctance of Adoption of These Systems


    1. 6.1 By Offering

      1. 6.1.1 Software Tools/Platform

      2. 6.1.2 Services

    2. 6.2 By Image Acquisition Technology

      1. 6.2.1 X-Ray

      2. 6.2.2 Computed Tomography

      3. 6.2.3 Magnetic Resonance Imaging

      4. 6.2.4 Ultrasound Imaging

      5. 6.2.5 Molecular Imaging

    3. 6.3 By End User

      1. 6.3.1 Hospitals

      2. 6.3.2 Clinics

      3. 6.3.3 Research Laboratories & Diagnostic Centers

      4. 6.3.4 Other End Users

    4. 6.4 By Geography

      1. 6.4.1 North America

      2. 6.4.2 Europe

      3. 6.4.3 Asia-Pacific

      4. 6.4.4 Rest of the World


    1. 7.1 Company Profiles

      1. 7.1.1 Siemens Healthineers AG

      2. 7.1.2 GE Healthcare

      3. 7.1.3 IBM Watson Health

      4. 7.1.4 BenevolentAI Limited

      5. 7.1.5 Philips Healthcare

      6. 7.1.6 Zebra Medical Vision Inc.

      7. 7.1.7 Samsung Electronics Co. Ltd

      8. 7.1.8 Medtronic Plc

      9. 7.1.9 EchoNous, Inc.

      10. 7.1.10 Enlitic Inc.

      11. 7.1.11 Nvidia Corporation

      12. 7.1.12

    2. *List Not Exhaustive


**Subject to Availability
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Medical Imaging AI Market Research FAQs

The AI Market in Medical Imaging is studied from 2018 - 2028.

The AI Market in Medical Imaging is growing at a CAGR of 30.4% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2018 - 2028.

North America holds highest share in 2021.

Siemens Healthineers AG , GE Healthcare, IBM Watson Health, BenevolentAI, Philips Healthcare are the major companies operating in AI Market in Medical Imaging.

AI in Medical ImagingIndustry Reports

In-depth industry statistics and market share insights of the AI Market in Medical sector for 2020, 2021, and 2022. The AI Market in Medical research report provides a comprehensive outlook of the market size and an industry growth forecast for 2023 to 2028. Available to download is a free sample file of the AI Market in Medical report PDF.

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