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Global AI in Digital Radiography Market by Current Industry Status, Growth Opportunities, Top Key Players, and Forecast for 2021-2029 - A Report by Absolute Markets Insights

Published On 13 Sep 2021 11:51 AM


Artificial intelligence (AI) is a branch of computer science that works to create intelligent machines. Today, its use is increasing in medical sector, particularly in radiology. In radiology, it is frequently used for identifying the onset of diseases at an early stage. This enable doctors to plan the treatment for long term needs and offer the most accurate medical treatment to the patient. AI is also used as clinical decision support and information management. It modifies the practice of radiology in processes that include detection & prioritization, monitoring & registration, image acquisition and reporting.

Based in Seattle, USA, Providence St. Joseph Health once used an AI-powered chatbot that not only screened and triaged more than 40,000 patients, but also categorized them by the level of care they needed. This reduced the workload of doctors and nurses and enabled them to focus on at-risk individuals. According to a 2019 study, the annual percentage increase in computed tomography (CT) imaging examinations was estimated to be 3.7% among adults in 2013-2016. Magnetic resonance imaging (MRI) exams for adults increased by 1.3% from 2007-2016. Technological advancements have brought software and computer applications such as CAD4TB for tuberculosis (TB) screening. They are expected to perform more efficiently if combined with AI. Companies in the recent times are incorporating AI-powered chest X-ray diagnostic solution for more accuracy, which showcases positive growth prospects for global AI in digital radiography market over the forecast period.

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The major factor driving the global AI in digital radiography market is the increasing investment in the healthcare ecosystem. The demand for AI in medical sector is increasing due to better speed, accuracy and quality of image interpretation along with the diagnosis in radiology, which is creating new revenue opportunities for the global AI in digital radiography market. Other important factors contributing to the growth of market include advancements in computing and rapid changes in medical industry accelerating innovations and research & developments (R&D). When combined with the ease of access to computational resources, the advances in algorithm development allow AI to be applied in radiological decision-making at a higher functional level. The growing awareness about the benefits offered by techniques based on AI and their wide application areas has led to the increased adoption of AI-based products and services in the healthcare market.

The growing demand from emerging markets is anticipated to contribute towards the growth of global AI in digital radiography market over the period of next eight years. The use of technology in the medical sector is gradually increasing in the developing countries whose economies are steadily growing and thus, these countries are not only demanding radiography in their medical sector, but they are also investing in artificial intelligence to increase work efficiency. The COVID-19 has also increased the need for digital radiography to a large extent. Due to China-originated coronavirus, the demand for imaging services has increased. Due to advancement in technology, it is possible and easy to share and transfer image files from one office or facility to another. Digital radiography also offers the advantage of lower radiation dose exposure to patients as well as technicians. AI is applied to X-ray and CT scans, as advanced imaging tools, which is helpful in the detection and follow-up of COVID-19. Hence, it helps to diagnose the presence of the infection more accurately.

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Key Findings of the Report:

  • The global AI in digital radiography market was valued over US$ 900 Mn in 2020 growing at a CAGR of 16.7% during the forecast period (2021 – 2029).
  • The AI-enabled hardware in global AI in digital radiography market held the larger market share in 2020. Healthcare organizations have been increasingly adopting AI-integrated digital radiography hardware, to ensure an efficient and accurate output for their procedures. The technologically integrated hardware have enabled healthcare facilities to streamline overall procedures, which has encouraged its adoption.
  • Computed tomography (CT) radiography type is gaining traction in the global AI in digital radiography market. AI-based deep learning reconstruction (DLR) and post-processing techniques improve diagnostic image quality at the lowest attainable dose across all patients and procedures and are more efficient than current reconstruction techniques. Thus, the potential for imaging organizations to optimize CT imaging programs via AI is huge
  • In 2020, positioning navigation segment occupied the largest market share. Due to technological advancement, AI is being used for positioning navigation with the help of a camera built into the collimator placed at X-ray room. The system can not only match the medical examination menu selected for proper patient positioning, but it can also check for expected anatomy and anatomy orientation prior to patient's exposure to X-Ray.
  • During the forecast period, small & medium size facilities are estimated to grow at the fastest rate in the global AI in digital radiography market. The market participants are increasingly investing in developing solutions and systems to specially cater the small and medium size facilities. Simultaneously, a significant increase in the establishment of small size facilities across semi-urban and urban areas is observed in the developing economies, which is contributing towards the segment’s growth in the global market.
  • In 2020, North America was the biggest regional market in the global AI in digital radiography market. Technological advancement in North America along with investments from startups are primarily driving the region’s growth in the global market. Presence of key market players and advanced medical sector are other factors contributing to the market growth in this region.
  • Some of the major players operating in the global AI in digital radiography market are Agfa-Gevaert Group, Canon Medical Systems, Enlitic Inc., Fujifilm Corporation, GE Healthcare, IBM Corporation, Nuance Communications Inc., Quantib B.V., Qure.ai, Samsung, Siemens Healthineers, and Therapixel amongst other market participants

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Global AI in Digital Radiography Market:

  • By Offering
    • Hardware
    • Software
    • Services
  • By Radiography Type
    • X-Ray
    • Computed Tomography (CT)
    • Magnetic Resonance Imaging (MRI)
    • Positron Emission Tomography (PET)
    • Mammography
    • Others
  • By Application
    • Positioning Navigation
    • Workflow Support
    • Region Recognition
    • Computer Aided Detection
    • Others
  • By Facility Size
    • Small and Medium Size Facilities
    • Large Size Facilities
  • By End Users
    • Hospitals
    • Clinics
    • Diagnostic Imaging Centers
    • Urgent Care Centers
    • Others
  • By Region
    • North America
      • U.S.
      • Canada
      • Mexico
      • Rest of North America
    • Europe
      • France
      • The UK
      • Spain
      • Germany
      • Italy
      • Nordic Countries
        • Denmark
        • Finland
        • Iceland
        • Sweden
        • Norway
      • Benelux Union
        • Belgium
        • The Netherlands
        • Luxembourg
      • Rest of Europe
    • Asia Pacific
      • China
      • Japan
      • India
      • New Zealand
      • Australia
      • South Korea
      • Southeast Asia
        • Indonesia
        • Thailand
        • Malaysia
        • Singapore
        • Rest of Southeast Asia
      • Rest of Asia Pacific
    • Middle East & Africa
      • Saudi Arabia
      • UAE
      • Egypt
      • Kuwait
      • South Africa
      • Rest of Middle East & Africa
    • Latin America
      • Brazil
      • Argentina
      • Rest of Latin America

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Press Release Provided By: Absolute Markets Insights