Global Artificial Intelligence Radiology Market is Expected to Reach US$ 3,506.55 Million by 2027, Growing at an Estimated CAGR of 16.5% Over the Forecast Period as Adoption of Computed Tomography is on a Rise, Says Absolute Markets Insights
PUNE, India, July 10, 2019 /PRNewswire/ — In terms of revenue, global artificial intelligence radiology market was valued at US$ 187.61 million in 2018 and is anticipated to reach US$ 3506.55 million by 2027, growing at a CAGR of 16.5% over the forecast period. Advancements in image-recognition with deep learning algorithms has enabled to match and even surpass humans in task-specific applications. Artificial intelligence in radiology is used to identify the onset of disease in early stage enabling to plan their treatment for long term needs. The technology can be used to analyze medical imaging solutions to identify most effective solution for acute abnormalities across the body. Increase in usage of artificial intelligence for neuroradiology to diagnose abnormalities in head, brain, spine and neck is driving the market. Different services like machine learning, deep learning, cloud computing, analytics and others are being used by hospitals and clinics for treatment with efficiency and accuracy in a short span of time.
The detection of diseases in real time will change the scenario of treatment across the world. The detection of odds in the body can be done in no time and treatment can be planned accordingly, using the technology. The analysis part of deep learning will give an extra edge to doctors and clinicians to decide the stage of the disease. Image processing companies are developing best technologies for diagnosing diseases. Computer-aided detection will use artificial intelligence in detecting lesions and reduce the time of image interpretation which will help the radiologists to detect the ongoing problems.
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The detailed research study provides a qualitative and quantitative analysis of the artificial intelligence radiology market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply-side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
Global Artificial intelligence radiology Share in 2018, By Region
Key Findings of the Report:
- In terms of revenue, global artificial intelligence radiology market is expected to reach US$ 3,506.55 million by 2027 owing to advancement in algorithms for better image recognition, characterization and monitoring of disease.
- Computed Tomography Solution held the largest market share in 2018 and is expected to grow at a CAGR of 17.4% over the forecast period of 2019-2017 because of the integration of artificial intelligence with CT scan for faster processing and disease detection.
- North America region is expected to witness the highest CAGR over the forecast period owing to technological innovation along with improving infrastructure facilities for computed tomography (CT), magnetic resonance imaging (MRI) and positron emission tomography (PET).
- Some players of artificial intelligence radiology market operating in the artificial intelligence Behold.ai Technologies Limited, Enlitic,Inc., EnvoyAI, Freenome Inc., Gleamer LTD, IBM Corporation, amongst others.
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By Technique
- X-rays
- Computed Tomography (CT)
- Magnetic Resonance Imaging (MRI)
- Ultrasound
- Positron Emission Tomography (PET)
- Others
By Radiology Type
- Mammography
- Chest Imaging
- Neurology
- Colonography
- Cardiovascular
- Head CT Scan
- Rest of the body
By Application
- Computer-aided Diagnosis
- Clinical Decision Support
- Quantitative Analysis Tools
- Computer-aided Detection
By Geography
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Norway
- Sweden
- Benelux Union
- Belgium
- The Netherlands
- Luxemburg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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