by The artificial intelligence in MRI market is currently witnessing strong growth globally, owing to growing need for automation in radiology and medical imaging solutions. Artificial intelligence helps optimize workflow and provide diagnosis support to radiologists by eliminating mundane image reading tasks. Major advantages include reducing errors and enhancing productivity. The global rise in chronic diseases is also driving demand for advanced medical imaging modalities like MRI scans.
The Global artificial intelligence in MRI market is estimated to be valued at US$ 5.80 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period from 2024 to 2031.
Key Takeaways
Artificial Intelligence In MRI Market Companies are GE Healthcare, Siemens Healthineers, Canon Medical Systems Corporation, Philips Healthcare, Hitachi Medical Corporation, Samsung Medison Co., Ltd., United Imaging Healthcare, Esaote S.p.A., Aspect Imaging, Subtle Medical, Inc., Arterys Inc., HeartVista, Olea Medical, Aidoc, DeepHealth, Inc., Zebra Medical Vision Ltd., TeraRecon, Inc., and IB Lab GmbH.
The key opportunities in the market include increased focus on imaging biomarkers and radiomics for precision diagnosis as well as adoption of deep learning algorithms for automatic segmentation in MRI scans. Integration of AI capabilities in MRI systems is also opening up new opportunities for market players.
Globally, the rising healthcare expenditures along with growing public-private investments in medical technologies across countries like China, India, Brazil and South Africa are fueling the adoption of artificial intelligence driven MRI systems. Partnerships between AI companies and diagnostic centers are also boosting the global expansion of artificial intelligence in MRI market.
Market drivers
The key driver for Artificial Intelligence in MRI Market growth is the need for improved efficiency and accuracy in diagnosis. AI assisted MRI imaging can reduce error rates, enable early disease detection, expedite report generation and improve clinician workflow. This enhances patient outcomes. Rising workload pressures on radiologists due to growing MRI scan volumes is also driving increased integration of AI into MRI systems.
PEST Analysis
ment initiatives and funding to promote development and adoption of artificial intelligence and machine learning technologies in the healthcare sector is driving growth of this market.
Economic: Increasing healthcare expenditure and growing economy of developing nations is positively impacting growth of artificial intelligence in MRI market.
Social: Growing awareness about early disease diagnosis and rising acceptance of AI-based medical technologies among patients and healthcare professionals is fueling demand.
Technological: Advancements in deep learning algorithms, compute capabilities, Big Data analytics capabilities and integration of these technologies with MRI systems is aiding market expansion. Integration of AI with MRI is improving diagnostic accuracy.
Geographical regions where market in terms of value is concentrated:
North America region holds the major share of artificial intelligence in MRI market due to large presence of market players, advanced healthcare infrastructure, growing cancer prevalence and high adoption of AI technologies among healthcare providers in the US and Canada.
Fastest growing region for this market:
Asia Pacific region is expected to witness the highest growth during the forecast period owing to increasing healthcare expenditures, large patient population, rising incidence of chronic diseases, growing medical tourism industry and focus of market players on expanding in emerging countries of China, India and Japan.
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