FREMONT, California, Sept. 25, 2019 /PRNewswire/ -- According to a new market intelligence report by BIS Research, titled "Global AI-Enabled Medical Imaging Solutions Market – Analysis and Forecast, 2019-2029", the global AI-enabled medical imaging solutions market was valued at $404.0 million in 2018 and is anticipated to reach $9.61 billion by 2029. The global market is expected to grow at a CAGR of 30.95% during the forecast period from 2019 to 2029. This growth of the market is aided primarily by the expected launch of novel artificial intelligence (AI) algorithms for use in medical imaging.
The plenitude of medical imaging modalities available at present has increased the complexities of clinical decision-making. As a result, the integration of AI in medical imaging has become a crucial requirement. AI has the potential to transfigure the medical imaging industry in terms of both accuracy and productivity. In the field of medical imaging, the AI-based solutions are used for various applications including image analysis, detection, diagnosis and decision support, image acquisition, reporting and communication, triage, equipment maintenance, and predictive analysis and risk assessment, among others.
Moreover, the novel deep learning algorithms have paved the way for the expansion of the scope of application of AI in medical imaging. Owing to these advancements, numerous large-scale as well as small-scale manufacturers in the market are developing and offering innovative solutions for use in medical imaging. Hence, the market is expected to witness an exponential growth over the coming 10 years.
According to Manu Kaushik, Lead Analyst at BIS Research,"North America is the leading contributor in the global AI-enabled medical imaging solutions market and contributed approximately 53.81% to the global market value in 2018. This region is anticipated to grow at a double digit CAGR during the forecast period 2019-2029 and is expected to dominate the global market in 2029 as well. However, the Asia-Pacific region is projected to grow at the highest CAGR during the forecast period 2019-2029. The Europe region also contributed a significant share of 26.63% to the global market."
The specialty imaging segment is expected to witness a robust CAGR during the forecast period 2019-2029. Moreover, the oncology sub-segment under specialty imaging is also expected to witness an impressive growth during the forecast period 2019-2028.
The autonomous software providers are currently the largest shareholders in the global AI-enabled medical imaging solutions market. This market dominance is attributed to the presence of numerous established as well as emerging players.
This market intelligence report provides a multi-dimensional view of the global AI-enabled medical imaging solutions market in terms of market size and growth potential. This research report aims at answering various aspects of the global AI-enabled medical imaging solutions market with the help of key factors driving the market, restraints that can possibly inhibit the overall growth of the market, and the current growth opportunities that are going to shape the future trajectory of the market expansion.
Furthermore, the competitive landscape chapter in the report explicates the competitive nature of the global market and enables the reader to be acquainted with the recent market activities, such as product launches and approvals, partnerships, collaborations, business expansions, as well as mergers and acquisitions. The research report provides a comprehensive analysis of the product sales, manufacturers, service providers, and trend analysis by segment, and growth share analysis by region. Additionally, the report provides a comprehensive attractive analysis and opportunity analysis for the entire global AI-enabled medical imaging solutions market for 2018 and 2029.
This report is a meticulous compilation of research on more than 120 players in the market ecosystem and draws upon insights from in-depth interviews with the key opinion leaders of more than 15 leading companies, market participants, and vendors. The report includes 20 detailed company profiles including that of Aidoc, Arterys Inc., Beijing Infervision Technology Co., Ltd., Blackford Analysis Limited, ContextVision AB, EnvoyAI, Fujifilm Holdings Corporation, General Electric Company, iCAD, Inc., Koninklijke Philips N.V., Mirada Medical Limited, Nuance Communications, Inc., NVIDIA Corporation, Resonance Health Ltd., Samsung Electronics Co., Ltd., Siemens Healthineers AG, Synopsys Inc., Volpara Health Technologies Limited, Vuno Inc., and Zebra Medical Vision, Inc.
Key Questions Answered in the Report:
How much revenue was generated by the AI-enabled medical imaging solutions market in 2018, and how much revenue is expected to be generated by 2029?
Which factors are responsible for driving and challenging the growth of the market?
How is the role of AI in enhancing the treatment pathways expected to evolve in the future?
How are the industry players trying to overcome the challenges associated with the workflow integration of AI and availability of data?
How much revenue is expected to be generated by the different segments and sub-segments of the AI-enabled medical imaging solutions market during the forecast period 2019-2029:
on the basis of product, including software and hardware
on the basis of workflow, including image analysis, image acquisition, detection, reporting and communication, diagnosis and treatment decision support, predictive analysis and risk assessment, triage, and equipment maintenance
on the basis of therapeutic application, including specialty imaging and general imaging
on the basis of deployment model, including cloud- and web-based solutions and on-premise solutions
on the basis of modality, including computed tomography (CT), magnetic resonance (MR), ultrasound, X-ray, mammography, multimodality imaging systems, and other modalities
on the basis of region, including North America, Europe, Asia-Pacific, and Rest-of-the-World (RoW)
What is the strongest return on investment (RoI) driver bolstering the incorporation of AI in medical imaging?
What are the key strategies incorporated by the leading players of the global AI-enabled medical imaging solutions market to sustain the competition?
What is the contribution of each player in the growth of AI-enabled medical imaging solutions market?
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