Artificial Intelligence (AI) in Ultrasound Imaging Market

Artificial Intelligence (AI) in Ultrasound Imaging Market size was valued at USD 917.11 Million in 2023 and is projected to reach USD 1,750 Million by 2030, growing at a CAGR of 9.67% from 2023 to 2030.

Artificial Intelligence (AI) in Ultrasound Imaging Market Overview

One of the best, safest, and most affordable medical diagnostic methods is ultrasound imaging. AI-powered solutions have improved efficacy and diagnostic precision. Imaging equipment is becoming smarter thanks to AI technologies, which also enable clinicians to concentrate more on the patient and conduct in-depth analyses of the issue.

One of the significant factors accelerating the growth and demand for artificial intelligence in the ultrasound imaging market is the increasing usage of imaging biomarkers and quantitative imaging in clinical practice. The rising prevalence of different lifestyles paired with chronic diseases like cancer and cardiovascular disorders, as well as the rising demand for advanced imaging solutions integrated with AI, is also boosting the global market during the course of the forecast period. The market is also expanding as a result of the growing demand to lower healthcare costs and the introduction of huge and complicated healthcare datasets. Additionally, one of the key factors driving the growth of artificial intelligence in the ultrasound imaging market is the growing desire to reduce healthcare expenses and the increasing significance of big data in healthcare. Precision medicine’s widespread use and the falling cost of hardware will ensure strong industry growth throughout the projection period.

Market Dynamics

Since ultrasound imaging is regarded as one of the safest, most affordable, and most reliable medical diagnostic modalities worldwide, demand for it is incredibly strong in healthcare facilities like hospitals and clinics. The adoption of artificial intelligence technologies in ultrasonic imaging is anticipated to enhance the technique’s intelligence and efficiency in accurately diagnosing disease. The demand for AI in ultrasound imaging is being greatly fueled by the rising demand for imaging biomarkers and quantitative imaging.

A further factor driving the demand for AI in ultrasound imaging is the rising prevalence of different lifestyle-related and chronic diseases among the world’s population. Around 19.3 million new cases of cancer were reported in 2020, according to the International Agency for Research on Cancer (IARC). Cancer-related deaths have been estimated at 10 million. From 2020 to 2040, there will be a 47% increase in new cancer cases. Additionally, according to the World Health Organization, cardiovascular disorders account for about 32% of all fatalities worldwide. By 2045, the overall number of diabetics is predicted by the International Diabetes Federation to be around 783 million. As a result, hospitals are under increasing pressure to provide prompt and efficient care as the frequency of chronic diseases rises and the number of hospital admissions rises.

However, the high cost of the method and the scarcity of trained AI workers would restrain the growth of artificial intelligence in the ultrasound imaging market. In contrast, the long regulatory approval procedure and growing privacy concerns could pose a threat to the industry’s expansion.

Market Segmentation

Segments Covered in the Report

By Solution

1. Software tools
2. Services
3. Devices

By Application

1. Radiology
2. Cardiovascular
3. Gastroenterology
4. Obstetrics and Gynecology
5. Others

By Technology

1. Machine Learning
2. Natural Language Processing
3. Context-Aware Computing
4. Computer Vision

By Ultrasound Technology

1. Diagnostic Imaging
2. Therapeutic
3. 2D, 3D/4D Ultrasound Imaging
4. High-Intensity Focused Ultrasound
5. Extracorporeal Shockwave Lithotripsy
6. Doppler Ultrasound

By End User

1. Hospitals
2. Clinics
3. Research Labs and diagnostic centers
4. Others

By Geography

1. North America
2. Europe
3. Asia-Pacific
4. Latin America
5. Middle East & Africa (MEA)

Regional Analysis

Artificial Intelligence (AI) in the Ultrasound Imaging market is studied across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

The adoption of AI in ultrasound imaging has been facilitated by the presence of major pharmaceutical and biotechnology businesses in the area, as well as growing investments in the adoption of cutting-edge innovative technologies in the medical field. Patients now want ultrasound imaging at higher rates due to the rising prevalence of numerous chronic conditions and rising healthcare costs. North America now holds a dominant position in the world’s ultrasound imaging market due to the availability of modern healthcare facilities and improved access to them. The growth of North American AI in the ultrasound imaging market is being aided by rising investments in R&D as well as the rising investments in the adoption of the newest medical equipment and software.

During the projected period, Asia Pacific is anticipated to have the ultrasound imaging market’s fastest-growing AI. Due to the availability of inexpensive production inputs, Asia Pacific is among the top producers of ultrasound imaging devices. The use of AI in ultrasonic imaging systems is expanding as a result of the increasing prevalence of various diseases and the rising demand for precise diagnostic outcomes. The demand for ultrasound imaging in obstetrics and gynecology applications has increased as a result of the rising problems during pregnancy brought on by late marriages and women’s changing lifestyles. During the forecast period, it is anticipated that rising government investments in the creation of smart hospitals will accelerate the growth of the Asia Pacific AI ultrasound imaging market.

Some of the Prominent Players:

1. NVIDIA Corporation
2. Intel Corporation
3. IBM
4. EchoNous, Inc.
5. Microsoft
6. General Vision Inc.
7. GENERAL ELECTRIC COMPANY
8. Johnson & Johnson Services, Inc.
9. Siemens Healthcare Private Limited
10. Medtronic
11. CloudMedx Inc.
12. Agfa-Gevaert Group
13. Butterfly Network, Inc.
14. Imagia Cybernetics Inc.
15. Enlitic, Inc.
16. Micron Technology, Inc.
17. SAMSUNG

Recent Development:

• A strategic partnership between Zebra Medical Vision and TELUS Ventures was established in July 2020. In order to introduce its AI solutions to healthcare providers, Zebra Medical used this technique to expand its presence across North America.

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What Sets Our ‘Artificial Intelligence (AI) in Ultrasound Imaging Market’ Report Apart?

Our ‘Artificial Intelligence (AI) in Ultrasound Imaging Market’ report distinguishes itself in the market through the following features:

• Comprehensive Market Analysis: The report presents in-depth market sizing and forecasts at a segment level for over 20 countries. It includes historical and forecast analysis spanning from 2023 to 2030, enabling comprehensive market assessment.
• Detailed Segmentation: It offers detailed segmentation by solution, Application, Technology, Ultrasound Technology, and end-user, providing a granular view of market dynamics.
• Value Chain Insights: The report includes a detailed value chain analysis that helps businesses identify areas for efficiency improvement, cost reduction, and enhancement of their competitive advantage.
• Technology and Regulatory Trends: We cover technology and regulatory trends, as well as challenging factors impacting the Artificial Intelligence (AI) in the Ultrasound Imaging market, giving you a holistic view of the market landscape.
• Growth Innovation Matrix: The report includes a growth innovation matrix that categorizes companies into four categories: flagbearers, contenders, specialists, and experimenters. This categorization aids value chain participants in understanding competition based on volume growth and R&D efforts.
• Competitive Profiling: Competitive profiling and benchmarking of key companies in the market provide a deeper understanding of industry competition, helping you formulate effective strategies.

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• Segmentation for Clarity: The report offers detailed segmentation by Solution, Application, Technology, Ultrasound Technology, and end-user for clarity and precision.
• Rich Visuals: With over 100 charts, the report provides an in-depth analysis of market size, forecasts, and supporting factors, tailored for an executive-level audience with enhanced presentation quality.
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