1. Market Research
  2. > Advanced IT Market Trends
AI in Medical Imaging Market Report - 2027

AI in Medical Imaging Market Report - 2027

  • March 2018
  • 128 pages
  • ID: 5376089
  • Format: PDF
  • EffeMarket

Summary

Table of Contents

Search Inside

Artificial Intelligence (AI) is a branch of science related to computer systems that can perform tasks that normally require human Intelligence. AI uses analytical models and digital inputs to gather large streams of data. AI models can then quickly process this data and react with human-like intelligence.

Some AI technology uses Deep Learning and Machine Learning to constantly learn and develop its knowledge. AI-driven technologies are expected to replace enterprise software. Currently, AI has impacted almost every industry sector. On the software side, there will soon be more sophisticated Artificial Intelligence-based platforms as technology trends towards platforms becoming open-sourced. Today’s Artificial Intelligence is called Narrow or Weak AI, since it can perform simple tasks (e.g., facial recognition, internet searches, or driving a car). Although AI technologies have not yet reached their full potential, Narrow AI is already present in cars, internet search engines, Amazon.com shopping suggestions, and many other devices.

All industries use some form of AI devices, but the healthcare industry is expected to use AI technology the most. AI healthcare is often used for things like patient care, drug discovery, and personalized treatment. Artificial Intelligence can review an image and identify potential findings within it by searching a patient’s history related to the particular anatomy scanned.

AI is unlikely to replace radiologists anytime soon, but it will increase the value they provide. In most countries there are not enough radiologists to meet the growing demand for imaging and diagnostic healthcare services. This shortage is expected to get worse in future: as imaging services grow, the population ages and chronic diseases grow faster than new radiologists are entering the field. AI algorithms read medical images by identifying patterns within the image the way radiologists do. AI systems are trained to recognize normal anatomy through typical scans from CT, magnetic resonance imaging (MRI), ultrasound or nuclear imaging. Knowledge regarding the automated analysis of medical images has spread rapidly, though the impact of AI on the radiology field will probably occur gradually.

The global Artificial Intelligence market is projected to reach approximately $139 billion by 2027. This would be an increase from $8.2 billion in 2013, at a growth rate of 40 percent from 2017 to 2027. Advancements in image and voice recognition technology are critical to offering enhanced drones, self-driving cars, and robotics, thus promoting the expansion of the Artificial Intelligence market.

Global investment for Artificial Intelligence has come from three different sources:
• direct investment by industrial and IT companies,
• acquisition and development of small, established AI companies
• venture capital funding of AI startups.

In 2016, the overall global investment in Artificial Intelligence was more than $5 billion an increase of more than 60 percent over 2015. In 2015, the investments are estimated to be roughly $3.1 billion, or 6 percent of total VC investments that totaled $55 billion in 2015.

In 2016, the global diagnostic imaging equipment market was valued at $22.7 billion at a growth rate of 2 percent. X-rays are the most common diagnostics imaging tool used worldwide, while PET and PET-CT scanning are widely considered the best. The medical imaging and diagnostics industry has become saturated with companies in recent years compared to other Artificial Intelligence application area in the healthcare industry. Nineteen out of the 24 imaging & diagnostics companies raised their first equity funding round since January 2015. (This includes seed or Series A rounds, as well as a first-round raised by stealth startup Imagen Technologies.)

Deep Learning (DL) is a subset of AI that is stimulated by the working of human brain. Deep Learning algorithms can help clinicians and radiologists diagnose diseases and plan treatments. Deep Learning is making rapid advances in diagnostic radiology. It is estimated that the total global computer-aided diagnostics software market could be worth $16 billion. In 2016 the market was valued at $1 billion, and the progression in medical software businesses and imaging device companies could average 20-35 percent growth rate per year. This will continue as Deep Learning improves their throughput and generates new products and services in coming decade.

The current business strategy among many large companies in diagnostic imaging is to leverage licensing agreements and work collaboratively with technology suppliers, rather than to acquire these companies outright. In order to make up for the lack of commercial funding available from traditional venture capital resources for imaging technology, most of the key imaging OEM’s have established corporate venture funds. For example, Siemens Venture Capital Healthcare, Philips Healthcare Incubator, and the GE Healthymagination Fund.

Philips is the most active assignee in the year 2017. Most of the patents of Philips during the year 2017 focus on the devices which can be used for medical imaging. Philips has the priority filing in USA in this year. Apart from Philips, Siemens has been the second most active assignee in the domain in the year 2017.

The growth of the global Artificial Intelligence market is directly correlated with prevailing economic conditions across the globe. The rising level of disposable income has propelled the spending trends on healthcare. In addition, the improving global economy is expected to take a step further in the years ahead and catalyze the growth of AI in healthcare industry. Artificial Intelligence technologies will be quickly assimilated into analytics practices, providing consumers exceptional access to powerful insights that drive action. To improve, the healthcare industry is currently in need of Artificial Intelligence to provide knowledgeable, actionable insights from large sets of patient data and to create a unified informatics architecture.

An important trend in diagnostic medical imaging is a growing interest in fusion and multimodality imaging. As the market for diagnostic imaging equipment matures, new opportunities are emerging for imaging modalities that can be used by mobile doctors or health-care workers in the field. Another major trend is the idea of smaller, portable imaging machineries. The global medical imaging market is facing increasing competition from refurbished systems due to the high cost of devices and installation in developing markets.

IBM/Merge, Philips, Agfa, and Siemens have already started incorporating AI into their medical imaging software systems. The implementation of AI technology into medical imaging has particular challenges:
• diagnoses are not always confirmed
• classifications and concepts are not always unanimous, nor are they eternal
• the structures of the human body present great variation in terms of normal dimensions and textures, and this variation potentially masks pathological conditions

Key Questions Answered by the Report:
The report provides detailed market analysis of the Artificial Intelligence market at global and regional levels, in addition to Artificial Intelligence in the healthcare market. The major regions covered are the US, Europe, Japan and Australia. The report also covers a detailed description of top Artificial Intelligence applications in the healthcare industry with market size information and a case study.
1. Global Artificial Intelligence market size; 2014-2027.
2. Global Artificial Intelligence market by investment; 2014-2017.
3. Global Artificial Intelligence market by M&A deals; 2014-2027.
4. Global Artificial Intelligence M&A deals share by country; 2016.
5. Global Artificial Intelligence market by technology; 2017.
6. Global Artificial Intelligence market by applications; 2014-2027.
7. Global Artificial Intelligence market by regions; 2027.
8. Global Artificial Intelligence in healthcare market; 2014-2027.
9. Global Artificial Intelligence in healthcare by application; 2014-2027.
10. Top 10 use cases of Artificial Intelligence in healthcare; 2027.
11. Global Artificial Intelligence in healthcare by companies; 2014-2027.
12. US Artificial Intelligence in healthcare market; 2013-2027.
13. US Artificial Intelligence in healthcare by application; 2017-2020.
14. Europe Artificial Intelligence in healthcare market; 2016-2027.
15. Australia Artificial Intelligence in healthcare market; 2016-2027.
16. Japan Artificial Intelligence in medical and welfare market size; 2015-2027.
17. Global Medical Imaging Market Value by Modality; 2007-2016
18. US Medical Imaging Market Value by Modality; 2008
19. Canada Diagnostic Imaging Equipment Market Growth Rate; 2008-2015
20. Canada Diagnostic Imaging Equipment Market Growth Rate; 2008-2015
21. Global Artificial Intelligence Market by Companies; 2010-2016
22. Global Artificial Intelligence in Medical Imaging by Application; 2010-2016
23. Global Artificial Intelligence in Medical Imaging by Funding; 2014-Q1 2017
24. Top 15 Most Funded Companies in Artificial Intelligence in Medical Imaging; 2014-Q1 2017
25. Global Computer Aided Diagnostic Market by Value; 2016-2022
26. Comparison of Deep Learning Results with Human Radiologist and Conventional Computer Vision System
27. Current healthcare regulations related to software in the European Union & US.
28. Overall IP Trends in Artificial Intelligence in Medical Imaging Market; 2012-2017.
20. Earliest Priority Country Filing Trend in Artificial Intelligence in Medical Imaging Market; 2012-2017
21. Artificial Intelligence in Medical Imaging Patent Trends by Focus Area; 2012-2017
22. Artificial Intelligence in Healthcare Patent Trends by Application; 2012-2017
23. Key Patents in Artificial Intelligence in Medical Imaging
24. Key Patent Holders in Artificial Intelligence in Medical Imaging Market; 2012-2017
25. Top Inventors in Artificial Intelligence in Medical Imaging Market; 2017
26. Top Active Inventors Associated with the Key Players in Artificial Intelligence in Medical Imaging Market
28. Competitive landscape of Artificial Intelligence players in Medical Imaging market.
29. Comprehensive product analysis of Artificial Intelligence in Medical Imaging market.
30. Detailed analysis of growth drivers, challenges and trends in Artificial Intelligence in Medical Imaging market.
31. Detailed company profiling of key market players: Microsoft, IBM, Google, iCarbonX, Deep Genomics, Nvidia, Butterfly Network, Flatiron Health, Welltok, BenevolentAI, Philips, Siemens and Zephyr Health.

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 150+ Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

ReportLinker may already be registered as a supplier with your company. If you want to Order by PO, check with us first and we'll let you know if we are a registered supplier and what the vendor number is. Otherwise, we'll provide you with the necessary information to register ReportLinker as a vendor.

Ahmad helps you find the right report:
Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

FAQ
  • How we can help
    • I am not sure if the report I am interested in will fulfill my needs. Can you help me?
    • Yes, of course. You can call us at +33(0) 4 37 65 17 03 or drop us an email at [email protected] to let us know more about your requirements.
    • We buy reports often - can ReportLinker get me any benefits?
    • Yes. Set up a call with a Senior Research Advisor to learn more - [email protected] or +33(0) 4 37 65 17 03.
    • I have had negative experiences with market research reports before. How can you avoid this from happening again?
    • We advise all clients to read the TOC and Summary and list your questions so that we can get more insight for you before you make any purchase decision. A research advisor will accompany you so that you can compare samples and reports from different sources, and choose the study that is right for you.

  • Report Delivery
    • How and when I will receive my Report?
    • Most reports are delivered right away in a pdf format, while others are accessed via a secure link and access codes. Do note that sometimes reports are sent within a 12 hour period, depending on the time zones. However, you can contact us to escalate this. Should you need a hard copy, you can check if this option is offered for the particular report, and pay the related fees.
  • Payment conditions
    • What payment methods do you accept?
      1. Credit card : VISA, American Express, Mastercard, or
      2. You can download an invoice to pay by wire transfer, check, or via a Purchase Order from your company, or
      3. You can pay via a Check made out in US Dollars, Euros, or British Pounds for the full amount made payable to ReportLinker
    • What are ReportLinker’s Payment Terms?
    • All payments must normally be submitted within 30 days. However, you can let us know if you need extended time.
    • Are Taxes and duties included?
    • All companies based in France must pay a 20% tax per report. The same applies to all individuals based in the EU. All EU companies must supply their VAT number when purchasing to avoid this charge.
    • I’m not satisfied. Can I be refunded?
    • No. Once your order has been processed and the publisher has received a notification to send you the report, we cannot issue any refund or cancel any order. As these are not ‘traditional’ products that can be returned, reports that are dispatched are considered to be ‘consumed’.
  • User license
    • The license that you should acquire depends on the number of persons that need to access the report. This can range from Single User (only one person will have the right to read or access the report), or Department License (up to 5 persons), to Site License (a group of persons based in the same company location), or Corporate License (the entire company personnel based worldwide). However, as publishers have different terms and conditions, we can look into this for you.
Purchase Reports From Reputable Market Research Publishers

NLP in Healthcare and Life Sciences Market by Component, NLP Type, Application, Organization Size, End User And Region - Global Forecast to 2026

  • € 6384
  • August 2021
  • 302 pages

The global NLP in healthcare and life sciences market size to grow from USD 1.8 billion in 2021 to USD 4.3 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 19.0% during the forecast period. ...

  • World
  • North America
  • Healthcare
  • Artificial Intelligence
  • Industry analysis
  • Medical Technology Density
  • Health Provider Density

ref:plp2018

Reportlinker.com © Copyright 2021. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.

Make sure you don’t miss any news and follow us on