The Global Radiomics Market Size is predicted to witness a 16.30% CAGR during the forecast period for 2024-2031.
Radiomics, which stands for the extraction of data that may be mined from diagnostic devices, has been used in chemotherapy to enhance diagnosis, prognosis, and clinical management support to provide precision medicine. Emerging nations are concentrating on combining their AI efforts, which will assist businesses in integrating AI with medical imaging to increase their revenue share significantly. The strategy calls for significant government financing and investments to accelerate businesses' adoption of AI technology, and this is likely to drive the radiomics market growth.
Accurate illness diagnosis and treatment are made possible by medical imaging, which is a crucial component of healthcare. Technology and digital data have revolutionized the photographic industry. As a result, the adoption of AI-based solutions in the healthcare industry has expanded over the past several years. In the future years, these factors are expected to propel the radiomics market expansion.
The adoption of AI technologies for medical purposes has increased due to increased awareness of the advantages of these technologies and their wide-ranging applications in the healthcare industry, supporting the market. However, the market is still developing, so some challenges may arise before AI becomes standard in this field.
Competitive Landscape:
Some of the radiomics market players are:
- io (Computational Imaging & Bioinformatics Lab)
- Radiomics Bio (Belgium)
- Health Innovation Ventures (HIV)
- SOPHiA GENETICS SA
- HealthMyne, Inc
- Oncoradiomics
- ptTheragnostic
Market Segmentation:
The radionics market is segmented on modality, image type, technology and application. Based on modality, the market is segregated into magnetic resonance imaging (MRI), computed tomography (CT), positron-emission-tomography (PET) and others. The radionics market is segmented into 2D and 3D based on image type. Based on the technology, the radionics market is segmented into engineered features, deep learning, and radionics. Based on application, the radionics market is segmented into nuclear medicine, medical imaging, precision medicine, oncology, etc.
Based On Technology, The Deep Learning Segment Is A Major Contributor To The Radiomics Market
The market's leading segment is deep learning. Numerous end-user sectors have implemented deep learning technology, which will advance much further in the ensuing years. A type of machine learning known as deep learning teaches computers to perform tasks that come effortlessly to people. The two worldwide deep-learning market trends fostering the sector's expansion are the expansion of big data and the increased adoption of cloud-based technologies. Numerous artificial intelligence (AI) apps and solutions rely on deep learning to enhance automation by completing manual and analytical activities without human participation.
The Medical Imaging Segment Witnessed Growth At A Rapid Rate
Medical imaging grabbed the highest revenue share, and it is anticipated that it will continue to hold that position during the anticipated time. With X-rays, CT scans, MRIs, and other imaging devices, medical imaging creates photographs of the body for diagnosis or treatment purposes. Due to the increased use of medical imaging in evaluating and treating illnesses and injuries, the market for medical imaging is expanding quickly. In addition, the introduction of technologically advanced gadgets and funding for healthcare infrastructure, particularly in developing nations like China and India, are a few significant factors projected to impact the market's growth significantly.
The North American Radionics Market Holds A Significant Revenue Share In The Region
The North American radiomics market position is expected to register the highest market share in revenue shortly. The presence of numerous industry players and the frequent introduction of new products are the main drivers of regional market expansion. Due to attractive reimbursement conditions and funding from market players, the region shows strong adoption of cutting-edge, high-end medical imaging equipment. In addition, Asia Pacific is projected to grow rapidly in the global radiomics market.
The above elements are anticipated to propel the regional market, along with the aging population, an increase in chronic disease instances, and a rising trend of preventative diagnostic techniques.
Radiomics Market Report Scope:
|
Report Attribute |
Specifications |
|
Growth rate CAGR |
CAGR of 16.3% from 2024 to 2031 |
|
Quantitative units |
Representation of revenue in US$ Billion, 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 statistics, growth prospects, and trends |
|
Segments Covered |
Modality, Image Type, Technology And Application |
|
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; France; Italy; Spain; South Korea; Southeast Asia |
|
Competitive Landscape |
Radiomics.io (Computational Imaging & Bioinformatics Lab), Radiomics Bio (Belgium), Health Innovation Ventures (HIV), SOPHiA GENETICS SA, HealthMyne, Inc., Oncoradiomics, ptTheragnostic. |
|
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. |
Corporate
Office :
Office No.5170, 5th Floor Marvel Fuego, Magarpatta Rd, Pune, 411028
info@insightaceanalytic.com
