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The AI-Enabled X-Ray Imaging Solutions Market Size is valued at USD 158.16 Million in 2023 and is predicted to reach USD 601.70 Million by the year 2031 at a 18.27 % CAGR during the forecast period for 2024-2031.
Key Industry Insights & Findings from the Report:
- The market expansion is due to the growing spectrum of applications of artificial intelligence, increased funding activities, and the growing complexity of clinical decision-making.
- The growing complexity of clinical decision-making. AI-enabled solutions offer valuable decision support by analyzing large volumes of imaging data quickly & accurately, which is essential in managing complex cases and improving workflow efficiency
- North America dominated the market and accounted for a global revenue share in 2023.
- The use of AI in medical diagnostics raises legal issues related to liability. In cases of misdiagnosis or incorrect treatment recommendations made by AI systems, determining liability can be complex.
X-Ray Imaging Solutions have been a crucial part of the healthcare industry across the world over the past decades and they are expected to be crucial aspects over the coming years as well. The increasing digitization of the healthcare industry and rising technological advancements are expected to be prominent factors driving the adoption of AI-Enabled X-Ray Imaging Solutions on a global scale. Increasing demand for technologically advanced products and the rising popularity of AI in the global landscape will also act in favor of AI-Enabled X-Ray Imaging Solutions market growth through 2031.
Increasing demand for better imaging solutions by patients and healthcare professionals is expected to prominently drive AI-Enabled X-Ray Imaging Solutions market growth over the forecast period. The increasing prevalence of chronic diseases, rising geriatric population, and increasing investments in research and development of imaging systems will also propel AI-Enabled X-Ray Imaging Solutions market growth through 2031.
However, the high costs of AI-Enabled X-Ray Imaging Solutions and the lack of skilled professionals to operate the same will have a hindering effect on the global growth potential across the forecast period. Increasing demand for radiology diagnostics will also aid market growth.
Competitive Landscape
Some Major Key Players In The AI-Enabled X-Ray Imaging Solutions Market:
- Agfa-Gevaert NV,
- Arterys, Inc,
- AI Technologies Limited,
- Carestream Health, Inc,
- Enlitic, Inc,
- General Electric Company,
- Imagen Technologies, Inc.,
- Infervision Medical Technology Co. Ltd.,
- Konica Minolta, Inc.,
- Lunit, Inc.,
- Quibim, S.L.,
- ai Technologies Pvt. Ltd.,
- Siemens Healthineers AG,
- Vuno Co., Ltd.,
- Zebra Medical Vision, Inc.,
- Other Prominent Players.
Market Segmentation:
The AI-Enabled X-Ray Imaging Solutions market is segmented on the basis of products, mode of deployment, workflow and application. On the basis of products, the market is segmented as software and hardware. Based on mode of deployment, the market is segmented into Cloud-Based and Web-Based Solutions and On-Premises Solutions. By application, the market is segmented into General Radiology and Specialty Radiology. By workflow, the market is segmented into Detection, Image Acquisition, Image Analysis, Diagnosis and Treatment Decision Support, Triage, Predictive Analysis and Risk Assessment, Reporting and Communication.
Based On Product, The Hardware Segment To See Good Growth
It is projected that the hardware segment would dominate the market in terms of both revenue and volume share. Increasing demand for new hardware components for advanced AI systems will drive growth in this segment. On the other hand, growing advancements in software technologies will create lucrative opportunities for the software segment over the forecast period.
Detection To Be The Key Workflow
AI-Enabled X-Ray Imaging Solutions are mainly deployed for diagnostic procedures and are primarily used for the same across the world. This creates a major scope of growth for the detection segment as it is the crucial step in diagnosis and treatment procedures and is the initial step to determine the cause and nature of the ailment. Image acquisition and image analysis services are expected to see high demand as the complexity of these new AI enable images increases with increasing parameters to analyze.
In The Region, The North America AI-Enabled X-Ray Imaging Solutions Market Holds A Dominant Outlook.
North America accounted for a major market share in the global AI-Enabled X-Ray Imaging Solutions market landscape and is projected to uphold this stance over the forecast period as well. The presence of developed healthcare infrastructure, rapid adoption of advanced technologies, increasing demand for radiology diagnostics procedures, and high healthcare spending potential are anticipated to be significant factors governing the AI-Enabled X-Ray Imaging Solutions market potential in this region over the forecast period. The rising prevalence of cancer and the high availability of AI-Enabled X-Ray Imaging Solutions are other factors that guide AI-Enabled X-Ray Imaging Solution market growth through 2030 in the United States, which is expected to be the major market in this region in the coming years.
Recent Developments:
- In January 2024, Lunit Inc., a pioneer in artificial intelligence-driven cancer treatment and diagnostics technologies signed a three-year supply agreement with Samsung Electronics (Samsung Healthcare). The cooperation focuses on enhancing the precision and quickness of chest screening by incorporating Lunit's AI technology into Samsung's high-end X-ray equipment.
AI-Enabled X-Ray Imaging Solutions Market Report Scope
|
Report Attribute |
Specifications |
|
Market Size Value In 2023 |
USD 158.16 Million |
|
Revenue Forecast In 2031 |
USD 601.70 Million |
|
Growth Rate CAGR |
CAGR of 18.27 % from 2024 to 2031 |
|
Quantitative Units |
Representation of revenue in US$ Million and CAGR from 2024 to 2031 |
|
Historic Year |
2019 to 2023 |
|
Forecast Year |
2024-2031 |
|
Report Coverage |
The forecast of revenue, the position of the company, the competitive market structure, growth prospects, and trends |
|
Segments Covered |
By Mode of Deployment, By Application, By Workflow |
|
Regional Scope |
North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
|
Country Scope |
U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico ;The UK; France; Italy; Spain; China; Japan; India; South Korea; South East Asia; South Korea; South East Asia |
|
Competitive Landscape |
Agfa-Gevaert NV, Arterys, Inc, Behold.AI Technologies Limited, Carestream Health, Inc, Enlitic, Inc, General Electric Company, Imagen Technologies, Inc., Infervision Medical Technology Co. Ltd., Konica Minolta, Inc., Lunit, Inc., Quibim, S.L., Qure.ai Technologies Pvt. Ltd., Siemens Healthineers AG, Vuno Co., Ltd., Zebra Medical Vision, Inc., Other Prominent Players. |
|
Customization Scope |
Free customization report with the procurement of the report, Modifications to the regional and segment scope. Particular Geographic competitive landscape. |
|
Pricing And Available Payment Methods |
Explore pricing alternatives that are customized to your particular study requirements. |
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