AI in Medical Imaging Market Expected to Reach USD 19.9 Billion by 2032

The global AI in Medical Imaging Market size will expand significantly through 2032. Improved diagnostic accuracy and treatment planning provided by AI in medical imaging are expected to generate lucrative opportunities for industry growth. AI algorithms can rapidly process and analyze large volumes of medical images, significantly reducing the time required for image interpretation. This expedites the diagnostic process, allowing healthcare professionals to make timely decisions and initiate appropriate treatment plans, favoring market growth.

The overall AI in medical imaging market is divided based on modality, application, end-use, and region.

Based on the modality, the industry size from the computed tomography (CT) segment reached over USD 261 million in 2022. Improved accuracy and precision of AI-based computed tomography images have increased their demand. AI algorithms can quickly analyze large volumes of CT images and provide automated measurements, annotations, and quantitative data. This expedites the diagnostic workflow, allowing radiologists to review and interpret CT scans more efficiently, supporting segment growth.

Based on the application, industry share from the lung imaging segment will grow at a notable CAGR from 2023 to 2032. Growing focus on early diagnosis of lung diseases has increased the demand for AI-based medical imaging systems. AI algorithms can analyze medical imaging data, such as chest X-rays or CT scans, to identify early signs of lung disorders. By detecting subtle abnormalities or patterns indicative of lung diseases, AI systems can aid in early diagnosis, allowing for timely interventions and improved patient outcomes, fostering product adoption.

Based on the end-use, industry value from the diagnostic centers segment will amass significant gains through 2032. High availability of advanced AI-based medical cameras in diagnostic centers is contributing to segment growth. Moreover, the growing demand for routine diagnostic procedures, in line with rising patient awareness about advanced AI-based imaging modalities, is further generating lucrative opportunities for segment growth. Growing number of diagnostic centers has further increased the frequency of AI-based medical image acquisitions.

From the regional standpoint, Asia Pacific AI in medical imaging market share will grow at over 31% CAGR from 2023 to 2032. Growing digitalization coupled with rapidly expanding healthcare infrastructure is contributing to regional growth. As per IBEF, India's MedTech industry has the potential to reach USD 50 billion by 2030. Surging prevalence of lung cancer has further bolstered the demand for AI-based medical imaging modalities in the region for early disease diagnosis.