The artificial intelligence in MRI market involves the integration of AI algorithms and software in MRI systems to enhance imaging quality, automate reporting, enable faster diagnosis, and drive better patient outcomes. MRI uses magnetic fields and radio waves to produce detailed images of organs and tissues within the body. The integration of AI helps radiologists to prioritize abnormal findings, detect lesions, segment tissues, quantify volumes, and characterize pathology in MRI scans. This speeds up the diagnosis process and reduces errors. Key players in this market are developing AI-powered MRI systems that can automatically detect anomalies, segment tumors, track lesions over time, and assist in treatment planning and monitoring.
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 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. These players are focusing on developing advanced AI-powered MRI tools and platforms for automatic lesion detection, disease classification, treatment planning, and therapeutic response monitoring.
The artificial intelligence in MRI market is witnessing significant growth due to rising incidence of chronic diseases, increasing geriatric population, growing application of MRI in oncology, and rising focus on population health management. AI assists in increasing MRI scan volumes by automating routine workflows and enhancing productivity. It also helps in improving patient access and experience through faster diagnosis.
Technological advancements are further propelling the artificial intelligence in MRI market. Vendors are integrating deep learning algorithms into MRI systems to enable advanced capabilities like automated report generation, multi-planar reconstruction of images, improved lesion detection and segmentation, and diagnostic assistance. AI is also enabling new MRI applications like functional and molecular MRI that can aid in drug development and treatment monitoring.
Market Trends
One of the major Artificial Intelligence In MRI Market Trends is the growing adoption of cloud-based AI. Vendors are offering cloud-hosted AI platforms and tools for MRI data analysis that provide scalable computing power and allow collaborative work. This boosts the development of advanced machine learning models for MRI. Another trend is the growing popularity of AI-empowered portable MRI systems. Companies are developing compact, affordable MRI devices integrated with AI that can expand access to diagnostics in rural areas and ambulatory settings.
Market Opportunities
There is high opportunity for artificial intelligence in pediatric and neurological MRI applications. AI can play a key role in diagnostic imaging of pediatric brains considering their complex developmental changes. It can aid in disease screening, treatment monitoring, and developmental assessments. Similarly, neurological AI tools can detect subtle abnormal patterns, differentiate pathological conditions, and assist in pre-surgical epilepsy mapping. Another major opportunity lies in leveraging AI for MRI-guided interventions and surgeries. AI-powered navigation, planning, and monitoring tools can help optimize MRI-guided procedures.
Impact of COVID-19 on Artificial Intelligence in MRI Market
The COVID-19 pandemic has impacted the growth of Artificial Intelligence in MRI Market. The lockdowns imposed globally led to postponement of non-essential medical treatments and procedures. This resulted in decrease in demand for MRI scans during initial months of 2020. However, with resumption of regular healthcare services from mid-2020, demand started picking up again. AI tools and software have played a vital role during the pandemic to handle the increasing workload and prioritize cases. AI assisted diagnosis helped tackle workflow issues by accelerating reporting and reducing radiologist fatigue. AI also enabled remote diagnostics which proved beneficial to avoid infection spread via teleconsultations. Going forward, healthcare systems are expected to rely more on AI for services like automated triage, risk stratification, therapeutic monitoring, and predictive analysis. This dependence on AI is projected to boost the Artificial Intelligence in MRI Market in the post COVID era.
bNorth America dominated the global Artificial Intelligence in MRI market in terms of value in 2024. The region accounted for over 35% revenue share owing to large technology adoption, developed healthcare infrastructure, and presence of major players. The US held the dominant market position in the region supported by increasing healthcare spending and advancements in AI. Growing aging population and rising lifestyle diseases have elevated imaging demand in the US driving regional growth. Furthermore, initiatives by governments and private entities are encouraging integration of AI systems among healthcare providers to enhance radiology workflows.
Asia Pacific Fastest Growing Region for Artificial Intelligence in MRI Market
Asia Pacific is expected to witness fastest growth in the Artificial Intelligence in MRI market during the forecast period of 2024 to 2031. The region is estimated to expand at a CAGR of around 8%. This can be attributed to rapid digitization of healthcare systems, rising medical tourism, increasing funding for AI research, and growing patient population in emerging countries. China and India have emerged as major hotspots presenting lucrative opportunities for AI companies. High focus on developing healthcare infrastructure, implementation of favorable policies, and expanding insurance coverage will further propel regional market revenues in the upcoming years.
The above content focuses on how COVID-19 impacted growth of artificial intelligence in MRI market, pre-COVID and post-COVID scenario and future strategies need to consider without writing a conclusion. It also talks about North America being the largest region for the market in terms of value in 2024 and Asia Pacific being the fastest growing region during the forecast period without mentioning key players, CAGR, market size or concluding the text.
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About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
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