Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market
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Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
The market size for artificial intelligence in magnetic resonance imaging (MRI) has seen robust growth over the last few years. The market is projected to expand from $5.98 billion in 2024 to $6.41 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%. Factors contributing to this growth during the historical period include an increase in data volume, a clinical demand for precision, the emergence of deep learning algorithms, investments in research and development, and advances in diagnostic imaging.
Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market Size Forecast: What’s the Projected Valuation by 2029?
Over the next few years, the artificial intelligence in the magnetic resonance imaging (MRI) market is projected to witness substantial growth. The market is set to increase to $8.92 billion by 2029, demonstrating a Compound Annual Growth Rate (CAGR) of 8.6%. The predicted expansion during the forecasted period is correlated with AI-assisted image restoration, personalised MRI scans, the application of AI for detecting and classifying lesions, amplified MRI automation, and AI-driven MRI protocols. The period also sees key trends such as quantitative imaging using AI, the incorporation of AI in functional MRI (fMRI), explainable AI in diagonistic interpretation, real-time AI examination, and AI-powered image enhancement.
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What Are the Drivers Transforming the Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market?
The growth of the artificial intelligence in the magnetic resonance imaging (MRI) market is expected to be driven by the rise in the number of diagnostic procedures. These procedures, which may be medical tests, exams, or techniques, are carried out to detect, assess, or confirm the existence of a disease, illness or irregularity in a patient. Artificial intelligence is utilized in MRI diagnostic processes to enhance the detection and characterization of irregularities, thereby achieving more accurate and timely diagnoses for improved patient results in a shorter time span. For example, the National Health Service (NHS), a publicly funded healthcare system based in England, reported in March 2023 that around 1,628,300 patients were on the waiting list for crucial diagnostic tests in England. This number marked a rise by 59,400 patients compared to March 2022. Furthermore, a total of 2,302,400 diagnostic tests were carried out in March 2023, witnessing an upsurge of 223,100 compared to March the previous year. Therefore, the surge in the number of diagnostic procedures is contributing to the expansion of the artificial intelligence in the MRI market.
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What Long-Term Trends Will Define the Future of the Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market?
The rise of technological innovation is becoming a prominent trend in the AI in MRI market. Leading businesses in this sector are concentrating their efforts on improving their AI technology in order to cater to unique requirements and secure their presence within the market. For instance, GE HealthCare Technologies Inc., an American manufacturing company, released Sonic DL, an FDA-approved AI deep learning system for swifter MRIs, in June 2023. This technology can capture superior quality MRI images up to 12 times more quickly than traditional techniques. It allows for cardiac imaging within a singular heartbeat, broadens services to patients with irregular heart rhythms and difficulty holding their breath, and promises efficient, uniform, and more patient-friendly exams by reducing scanning time by as much as 83% for swift, high-quality MRIs.
Which Segments in the Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market Offer the Most Profit Potential?
The artificial intelligence in magnetic resonance imaging (MRI) market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Technology: Deep Learning, Machine Learning, Computer Vision, NLP (Natural Language Processing), Speech Recognition, Querying Method, Other Technologies
3) By Deployment Type: On-Premise, Cloud
4) By Clinical Applications: Musculoskeletal, Colon, Prostate, Liver, Cardiovascular, Neurology, Lung, Breast, Other Clinical Applications
5) By End-User: Clinics, Research And Laboratories, Other End Users
Subsegments:
1) By Hardware: AI-Enabled MRI Scanners, Image Processing Units, Data Storage Devices
2) By Software: Image Analysis Software, Diagnostic Software, Workflow Optimization Tools
3) By Services: AI Integration Services, Maintenance And Support Services, Training And Consulting Services
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Which Firms Dominate the Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market by Market Share and Revenue in 2025?
Major companies operating in the artificial intelligence in magnetic resonance imaging (MRI) market include Intel Corporation, International Business Machines Corporation, Bayer AG, Toshiba Corporation, NVIDIA Corporation, Siemens Healthcare GmbH, Fujifilm Holdings Corporation, Koninklijke Philips N.V., GE HealthCare Technologies Inc., Nuance Communications Inc., Esaote SPA, Paige AI Inc., Orcam Inc., Aidoc Medical, Lunit Inc., Viz.ai Inc., Digital Diagnostics Inc., Owkin Inc., Aurora Imaging Technologies Inc., Quibim SL, Mirada Medical Ltd., Arterys Inc., Imbio LLC, QMENTA, Voxel Technology, Sanrad Medical Systems Pvt ltd, EchoNous Inc., Enlitic Inc., InformAI LLC, Nano X Imaging Ltd.
Which Regions Offer the Highest Growth Potential in the Artificial Intelligence In Magnetic Resonance Imaging (MRI) Market?
North America was the largest region in the artificial intelligence in magnetic resonance imaging (MRI) market in 2024. The regions covered in the artificial intelligence in magnetic resonance imaging (MRI) market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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