According to a new report published by UnivDatos Markets Insights, Artificial Intelligence in Radiology Market was valued at ~ USD 1.7 billion in 2021 & is expected to grow at a CAGR of ~35.5% from 2022-2028. The analysis has been segmented into Radiology Type (Chest imaging, colonoscopy, mammography, head imaging) by technique (X-rays, magnetic resonance imaging, (MRI), computed tomography (CT), positron emission tomography (PET), ultrasound, others) by Application (Computer aided-diagnostic, computer aided-detection, quantitative analysis tools, and clinic detection support) and Region/Country
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The artificial intelligence in radiology market report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on artificial intelligence in the radiology market. The artificial intelligence in radiology market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates artificial intelligence the in radiology market at the global and regional levels.
Key Market Dynamics
The global artificial intelligence in radiology market is projected to expand significantly with a CAGR of ~35.5. This is due to the rising prevalence of the chronic disease has led to an increasing the demand for early diagnosis of disease. This has led to an increase in workload burden on the radiologist. Owing to this, the demand for the AI–based radiology has increased as these deliver timely results having high accuracy and efficacy. Additionally, rising government funding to accelerate research in AI healthcare technology is driving the market. For instance, according to the department of Health and Social Care U.K., 2023 report, around £123 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. Further, as per the above-mentioned source, Ibex has received over £1.5 million in funding to build an AI-driven system to screen for breast cancer. The system analyses photos of tissue samples, assisting pathologists in detecting cancer and completing diagnosis more swiftly. Its high accuracy rate may lessen the requirement for the biopsy process, giving consultants more time.
The global artificial intelligence in radiology market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
· Based on radiology type, the market is segmented into thoracic, colonoscopy, mammography and brain imaging. Amongst these, the brain-imaging segment is expected to witness significant growth during the forecasting period.
· Based on techniques, the market is segmented into x-rays, magnetic resonance imaging (MRI), computed tomography (CT), positron emission tomography (PET), ultrasound, and others. Amongst these, the x-ray segment dominates the market growth during the forecasting period.
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Assistance Devices for Vulnerable Groups Market Geographical Segmentation Includes:
· North America (U.S., Canada, and the Rest of North America)
· Europe (UK, Germany, France, Italy, Spain, Rest of Europe)
· Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific)
· Rest of the World
The Asia Pacific healthcare mobile clinic market is expected to grow with a higher CAGR rate in 2021 due to the presence of a patient pool in the region, rising disposable income supports the region’s market growth. Additionally, the government initiatives to provide robust healthcare infrastructure for patient diagnostics and treatment drives the market growth. For instance, According to invest India the hospital industry in India, accounting for 80% of the total healthcare market, is witnessing a huge investor demand from both global as well as domestic investors. These elements are anticipated to fuel market growth in the forecasting period.
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Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analyst’s sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the assistance devices for vulnerable groups market. The major players have been analyzed using research methodologies such as Porter’s Five Forces Analysis to get insight views on global competition.
Recent Developments:
· In July 2022, Exo a pioneering health information and medical devices company acquired Medo AI, a Canadian developer of AI technology to make ultrasound imaging faster and simpler to use.
· In August 2021, Paxera Health launched-, a new product paxexa ultima 8th generation an AI-based imaging platform at HIMSS21, Las Vegas. Paxexa ultima 8th generation provides cutting-edge AI algorithms for chest x-rays, mammography and brain CT and can detect 20 abnormalities.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in artificial intelligence in radiology the market?
• Which factors are influencing the artificial intelligence in radiology market over the forecast period?
• What are the global challenges, threats, and risks in artificial intelligence in the radiology market?
• Which factors are propelling and restraining the artificial intelligence in radiology market?
• What are the demanding global regions of artificial intelligence in the radiology market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
• What are the descriptive profiles of key companies along with their SWOT analysis?
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