Summary

The rising prevalence of chronic disease has led to an increasing awareness among people for early diagnosis. This has led to an increase in the workload burden on the radiologist. AI–based radiology delivers timely results with high accuracy and efficacy. Additionally, rising government funding to accelerate research in AI healthcare technology is also driving the market. For instance, according to the Department of Health and Social Care U.K., 2023 report, around USD 152.60 million has been invested in 86 AI solutions over three rounds of awards, assisting over 300,000 patients and enhancing their treatment and care for chronic diseases. Thus with rising prevalence of chronic diseases and increasing demand for early diagnostics are anticipated to fuel the growth of the market during the forecasting period.

Some of the major players operating in the market include GE HealthCare., Enlitic, Inc., Medtronic, Gleamer Ltd., IBM Corporation, EnvoyAI, VUNO Inc., Koninklijke Philips N.V, Siemens Healthcare GmbH, Rad AI

Insights Presented in the Report
“Amongst radiology type, the mammography segment is expected to grow with significant CAGR during the forecasting period”
By radiology type, the market is segmented into chest imaging, colonoscopy, mammography, head imaging and others. The mammography segment is expected to grow during the forecast period. This is attributed to the rising prevalence of breast cancer cases and rising awareness amongst females for early diagnostics globally. For instance, according to FDA, the no. of monographs performed each year is USD 40 million. Furthermore, AI uses computer-assisted detection technique that identify the changes in mammograms and can find abnormalities year before cancer is diagnosed. These elements are anticipated to accelerate the growth of this segment

“Amongst technique types, the computed tomography held the majority share of the market in 2021”
By technique type, the market is segmented into X-rays, magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), ultrasound, and others. Amongst these, the computed tomography (CT) segment held the majority share during the forecasting period. A.I. has the potential to significantly reduce patient radiation dosage in computed tomography (C.T.) by automating and optimizing data acquisition procedures such as patient placement and acquisition parameter settings. Market participants are making innovations to meet the growing demand for CT scans in the research industry. For instance, In August 2022, Xoran Techechnolgies announced FDA 510(k) approval for For TRON, a full-body fluoroscopy computed tomography system designed to provide safe, ultra-high resolution, low-dose imaging in traditional settings such as ICU rooms.

“Amongst applications, the computer-aided- diagnostics dominates the market in 2021”
By application, the market is segmented into computer-aided-diagnostic, computer-aided-detection, quantitative analysis tool and clinical detection support. Amongst this computer-aided –diagnostics dominates the market. Owing to the integration of artificial intelligence and rapid advancement in healthcare technology such as advance bio-electronics, biomechanics etc. Additionally, AI-induced system delivers rapid results with high accuracy and precision.

“North America dominated the artificial intelligence in radiology market in 2021”
North America dominate the region this is due to the region's well-established healthcare infrastructure, which enables the deployment of innovative technologies. Additionally, companies in AI are attracting the greatest investment attention, and the sector in North America is expected to develop rapidly. For instance, in 2022, Vara, an AI breast cancer screening startup, berlin scored USD 4.81 million in an extension to its Series a funding. This round raises the total Series an investment to USD 11.76 million. Thus, the above-mentioned factor is anticipated to fuel the market growth during the forecasting period.

Reasons to buy this report:
• The study includes market sizing and forecasting analysis validated by authenticated key industry experts.
• The report presents a quick review of overall industry performance at one glance.
• The report covers an in-depth analysis of prominent industry peers with a primary focus on key business financials, product portfolios, expansion strategies, and recent developments.
• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry.
• The study comprehensively covers the market across different segments.
• Deep dive regional level analysis of the industry.

Customization Options:
The global artificial intelligence in the radiology market can further be customized as per the requirement or any other market segment. Besides this, UMI understands that you may have your own business needs, hence feel free to connect with us to get a report that completely suits your requirements.

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