Artificial Intelligence In MRI Market Size (2024 - 2029)

The market size for artificial intelligence in MRI is projected to experience significant growth during the forecast period, driven by enhancements in diagnostic accuracy and treatment planning offered by AI-based solutions. The increasing adoption of AI techniques by healthcare professionals, along with the introduction of advanced AI products and regulatory approvals, are key factors contributing to this expansion. Despite these positive trends, challenges such as slow regulatory processes and the high cost of AI equipment may impede the market's growth trajectory.

Artificial Intelligence in MRI Market Size & Share Analysis - Growth Trends & Forecasts (2025 - 2030)

Artificial Intelligence In MRI Market Size

Artificial Intelligence In MRI Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 1.37 Billion
Market Size (2029) USD 3.48 Billion
CAGR (2024 - 2029) 20.45 %
Fastest Growing Market Asia-Pacific
Largest Market North America
Market Concentration Medium

Major Players

Artificial Intelligence In MRI Market Major Players

*Disclaimer: Major Players sorted in no particular order

Artificial Intelligence In MRI Market Analysis

The Artificial Intelligence In MRI Market size is estimated at USD 1.37 billion in 2024, and is expected to reach USD 3.48 billion by 2029, growing at a CAGR of 20.45% during the forecast period (2024-2029).

The factors driving the growth of the market are improved diagnostic accuracy and treatment planning offered by AI-based MRI and the increased shift of doctors toward AI-based techniques.

Various research articles have been studied to understand the importance of AI in MRI scanning, which is likely to propel the market growth during the forecast period. For instance, in an article published by BMC Musculoskeletal Disorders in June 2024, the researchers found that the AI-assisted MRI Mask R-CNN model reliably identifies surgical target areas in pediatric hip and periarticular infections, providing a faster and more convenient option. This technology aids inexperienced physicians in pre-treatment assessments, lowering the chances of missed or incorrect diagnoses. As a result, improved diagnostic accuracy and treatment planning offered by AI-based MRI are driving the growth of this market.

The increasing shift of doctors toward AI-based techniques also contributes to market growth. For instance, an article published by the journal BMC Health Services Research in March 2022 stated that in a survey conducted among 114 German radiologists, 81% of them opted for AI-based diagnostic imaging tools in their routine diagnostics as these tools save time and provide quality results. Thus, the increasing shift of doctors and physicians to AI-based techniques is driving the growth of the market.

Also, the launch of advanced AI-based MRI products and the regulatory approvals are expected to drive market growth during the forecast period. For instance, in October 2022, Quibim, a company designing pioneering AI tools, received MDR (Class II B) and UKCA (UK Conformity Assessment) certifications to commercialize QP-Prostate in the European and British markets. QP-Prostate is an innovative software that uses AI to streamline prostate MRI interpretation and pre-populate radiology reports.

Thus, the market is expected to grow significantly during the forecast period due to increased advantages of AI-based MRI solutions and elevated strategic activities. However, the slow regulatory approval process and the high cost of AI-based equipment may slow down the growth of the market.

Artificial Intelligence In MRI Industry Segmentation

As per the scope of the report, artificial intelligence (AI) is an intensive tool employed and incorporated into MRI machines for quantitative imaging. This advanced imaging technology has wide applications in neuroscience, oncology, cardiovascular, MSK, and body imaging.

The artificial intelligence in the MRI market is segmented by clinical applications, product type, technology, deployment type, end users, and geography. The market is segmented into oncology, musculoskeletal, liver, cardiovascular, neurology, and other clinical applications. Other clinical applications include sports medicine and rheumatology. By solution, the market is segmented into software and services. The market is segmented by technology into deep learning, machine learning, computer vision, natural language processing, speech recognition, and other technologies. Other technologies include scan planning optimization and automated segmentation. By deployment type, the market is segmented into on-premise and cloud-based. By end users, the market is segmented into hospitals, clinics, and other end users. Other end users include ambulatory surgery centers and diagnostic centers. By geography, the market is segmented into North America, Europe, Asia-Pacific, and Rest of the World. For each segment, the market sizing and forecasts are done based on value (in USD).

By Clinical Applications
Musculoskeletal
Oncology
Liver
Cardiovascular
Neurology
Other Clinical Application
By Solution
Software
Services
By Technology
Deep Learning
Machine Learning
Computer Vision
NLP (Natural Language Processing)
Speech Recognition
Other Technologies
By Deployment Type
On-premise
Cloud-based
By End Users
Hospitals
Clinics
Other End Users
Geography
North America United States
Canada
Mexico
Europe Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Rest of the World
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Artificial Intelligence In MRI Market Size Summary

The artificial intelligence in MRI market is poised for substantial growth, driven by advancements in diagnostic accuracy and treatment planning capabilities offered by AI-based MRI technologies. The increasing adoption of these technologies by healthcare professionals is a significant factor propelling market expansion. Research highlights the effectiveness of AI in enhancing MRI scanning processes, such as the AI-assisted MRI Mask R-CNN model, which improves diagnostic precision in complex cases. The market is further bolstered by the introduction of advanced AI-based MRI products and regulatory approvals, which facilitate the commercialization of innovative solutions like Quibim's QP-Prostate software. Despite challenges such as slow regulatory processes and high equipment costs, the market is expected to experience robust growth, particularly in the cardiovascular segment, where AI's role in diagnosing heart conditions is becoming increasingly vital.

North America is anticipated to be a key region for market growth, supported by technological advancements, superior medical facilities, and a strong focus on research and development. The region's market expansion is fueled by the development of AI-driven software solutions and strategic partnerships, which enhance the efficiency and accessibility of MRI services. The prevalence of cardiovascular diseases and the efficacy of AI in their detection are significant contributors to the market's growth. Companies like Philips and GE HealthCare are leading the charge with innovative product launches and regulatory clearances, further solidifying their positions in the market. The semi-consolidated nature of the market, with key players operating both regionally and globally, underscores the competitive landscape and the ongoing efforts to integrate AI technologies into MRI practices.

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Artificial Intelligence In MRI Market Size - Table of Contents

1. MARKET DYNAMICS
  • 1.1 Market Overview
  • 1.2 Market Drivers
    • 1.2.1 Improved Diagnostic Accuracy and Treatment Planning Offered by AI-based MRI
    • 1.2.2 Increased Shift of Doctors to the Artificial Intelligence-based Techniques
  • 1.3 Market Restraints
    • 1.3.1 Slow Regulatory Approval Process and High Cost of AI-based Devices
  • 1.4 Porter's Five Force Analysis
    • 1.4.1 Threat of New Entrants
    • 1.4.2 Bargaining Power of Buyers/Consumers
    • 1.4.3 Bargaining Power of Suppliers
    • 1.4.4 Threat of Substitute Products
    • 1.4.5 Intensity of Competitive Rivalry

2. MARKET SEGMENTATION (Market Size by Value - USD)
  • 2.1 By Clinical Applications
    • 2.1.1 Musculoskeletal
    • 2.1.2 Oncology
    • 2.1.3 Liver
    • 2.1.4 Cardiovascular
    • 2.1.5 Neurology
    • 2.1.6 Other Clinical Application
  • 2.2 By Solution
    • 2.2.1 Software
    • 2.2.2 Services
  • 2.3 By Technology
    • 2.3.1 Deep Learning
    • 2.3.2 Machine Learning
    • 2.3.3 Computer Vision
    • 2.3.4 NLP (Natural Language Processing)
    • 2.3.5 Speech Recognition
    • 2.3.6 Other Technologies
  • 2.4 By Deployment Type
    • 2.4.1 On-premise
    • 2.4.2 Cloud-based
  • 2.5 By End Users
    • 2.5.1 Hospitals
    • 2.5.2 Clinics
    • 2.5.3 Other End Users
  • 2.6 Geography
    • 2.6.1 North America
    • 2.6.1.1 United States
    • 2.6.1.2 Canada
    • 2.6.1.3 Mexico
    • 2.6.2 Europe
    • 2.6.2.1 Germany
    • 2.6.2.2 United Kingdom
    • 2.6.2.3 France
    • 2.6.2.4 Italy
    • 2.6.2.5 Spain
    • 2.6.2.6 Rest of Europe
    • 2.6.3 Asia-Pacific
    • 2.6.3.1 China
    • 2.6.3.2 Japan
    • 2.6.3.3 India
    • 2.6.3.4 Australia
    • 2.6.3.5 South Korea
    • 2.6.3.6 Rest of Asia-Pacific
    • 2.6.4 Rest of the World

Artificial Intelligence In MRI Market Research Faqs

How big is the Artificial Intelligence In MRI Market?

The Artificial Intelligence In MRI Market size is expected to reach USD 1.65 billion in 2025 and grow at a CAGR of 20.45% to reach USD 4.18 billion by 2030.

What is the current Artificial Intelligence In MRI Market size?

In 2025, the Artificial Intelligence In MRI Market size is expected to reach USD 1.65 billion.

Artificial Intelligence In MRI Market Report Snapshots