Artificial Intelligence in Ultrasound Imaging Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)

Artificial Intelligence In Ultrasound Imaging Market Analysis

Artificial intelligence in the ultrasound imaging market is expected to register a CAGR of 9.6% over the forecast period.

The pandemic outbreak of the novel coronavirus disease highlighted the need to combine rapid, non-invasive, and widely accessible techniques with the lowest risk of patient cross-infection to enable successful early identification and surveillance of the sickness. The potential of lung ultrasound technology continues to develop in this area as it has proven beneficial in the differential diagnosis and follow-up of COVID-19 patients. For instance, as per the report published by the Journal of Imaging in March 2022, artificial intelligence (AI), particularly machine learning, was used as a critical tool that assists clinicians in lung ultrasound image reading and COVID-19 decision-making. This shows the key role of artificial intelligence in ultrasound imaging for the diagnosis of COVID-19, which had a significant impact on the market growth.

The major factors augmenting the growth of the market include a rise in chronic diseases and the geriatric population, a rising focus on reducing the workload of radiologists, and government initiatives to increase the adoption of AI-based technologies. One of the major driving factors is the rising burden of chronic diseases such as cardiovascular diseases and cancers. For instance, as per the updated report published by Macmillan Cancer Support in October 2022, around 3 million people were living with cancer in the United Kingdom in 2021, which is likely to rise to 3.5 million by 2025, 4 million by 2030, and 5.3 million by 2040. Thus, with the rise in the prevalence of cancer, the demand for diagnosis using artificial intelligence in ultrasound is likely to increase, which will help the market to grow over the forecast period.

Furthermore, the partnerships and collaborations of the major market players are also contributing to the market growth. For instance, in March 2022, Royal Philips and DiA Imaging Analysis Ltd., one of the leading providers of AI-powered applications for ultrasound, entered a strategic partnership to deliver automated solutions to clinicians at the point of care. Philips' ultrasound image quality combined with DiA's AI library of automated solutions helps to increase diagnostic confidence, operational efficiency, and access to care for point-of-care customers in and out of the hospital. These partnerships among the market players enable businesses to produce high-quality ultrasound images utilizing artificial intelligence. Thus, this is likely to create demand for the product, thereby contributing to the market growth over the forecast period.

However, high procurement costs and maintenance, along with reluctance among medical practitioners to adopt AI-based technologies, may restrain the growth of the market over the forecast period.

Artificial Intelligence In Ultrasound Imaging Market Trends

Cardiology Application is Expected to Record Highest CAGR Over the Forecast Period

Artificial Intelligence In Ultrasound Imaging Industry Segmentation

As per the scope of the report, Artificial intelligence (AI) in ultrasound imaging includes the incorporation of AI into imaging, which transforms medical images into high-throughput mineable data. AI-empowered ultrasonography has the potential to accelerate the use of medical ultrasound in various clinical settings with broad usage by medical personnel. The three main applications of artificial intelligence in ultrasonic image analysis include detection, diagnosis or classification, and image segmentation, which helps radiologists to analyze images more accurately. The Artificial Intelligence in Ultrasound Imaging Market is segmented by Solution (Hardware, Software, and Services), Technology (Machine Learning, Natural Language Processing, Context-Aware Computing, Computer Vision, and Other Technologies), Application (Cardiology, Obstetrics and Gynecology, Gastroenterology, Radiology, and Other Applications), End Users (Hospitals, Diagnostic Centers, and Other End Users) and Geography (North America, Europe, Asia-Pacific, and Rest of the World). The report offers the value (in USD million) for the above segments.