The Artificial Intelligence In Magnetic Resonance Imaging (MRI) Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Artificial Intelligence In Magnetic Resonance Imaging (MRI) Global Market Report 2024, The artificial intelligence in magnetic resonance imaging (mri) market size has grown strongly in recent years. It will grow from $5.65 billion in 2023 to $6.12 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to data volume expansion, clinical demand for accuracy, rise of deep learning algorithms, research and development investments, diagnostic imaging innovations.
The artificial intelligence in magnetic resonance imaging (mri) market size is expected to see strong growth in the next few years. It will grow to $8.11 billion in 2028 at a compound annual growth rate (CAGR) of 7.3%. The growth in the forecast period can be attributed to ai-enhanced image reconstruction, personalized mri imaging, ai for lesion detection and classification, increased mri automation, ai-guided mri protocols. Major trends in the forecast period include quantitative imaging with ai, ai in functional mri (fmri), explainable ai in diagnostic interpretation, real-time ai analysis, ai-based image enhancement:.
The increased number of diagnostic procedures is expected to propel the growth of artificial intelligence in magnetic resonance imaging (MRI) market. Diagnostic procedures refer to medical tests, examinations, or techniques conducted to identify, evaluate, or confirm the presence of a disease, medical condition, or abnormality in a patient. Artificial intelligence is employed in MRI diagnostic procedures to improve accuracy and efficiency in detecting and characterizing abnormalities, leading to more precise and timely diagnoses for better patient outcomes in less time. For instance, in March 2023, according to the National Health Service (NHS), an England-based publicly funded healthcare system, approximately 1,628,300 patients were awaiting critical diagnostic tests in England, representing a 59,400-patient increase from March 2022. Additionally, in March 2023, a total of 2,302,400 diagnostic tests were performed. This is the case, with 223,100 more than in March 2022. Therefore, the increased number of diagnostic procedures is driving the growth of artificial intelligence in magnetic resonance imaging (MRI) market.
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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
Technology advancement has emerged as a key trend gaining popularity in artificial intelligence in magnetic resonance imaging (MRI) market. Major companies operating in artificial intelligence in magnetic resonance imaging (MRI) market are focused on advancements in AI (artificial intelligence) technology to meet specific demands and sustain their position in the market. For instance, in June 2023, GE HealthCare Technologies Inc., a US-based manufacturing company, introduced Sonic DL, an FDA-cleared AI deep learning technology for faster MRI. This technology acquires high-quality magnetic resonance images up to 12 times faster than conventional methods, enabling cardiac imaging within a single heartbeat. It extends access to patients with arrhythmias and breath-holding challenges, ensuring swift, consistent, and more comfortable exams with up to an 83% reduction in scan time for rapid, high-quality MRI.
The artificial intelligence in magnetic resonance imaging (mri) market report table of contents includes:
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