Traditional Medical Imaging Market Rapidly Importing AI Technology

According to Fortune Business Insights, the global market capitalization of medical imaging will reach $37.97 billion in 2021 and is estimated to reach $56.53 billion by 2028, with a compound annual growth rate of 5.8%.[1]The global medical imaging industry is divided into X-ray, endoscopy, CT, MRI, and other medical imaging modalities. The global medical imaging industry is divided into six categories: X-ray, endoscopy, computed tomography (CT), magnetic resonance imaging (MRI), ultrasound, and molecular imaging (including PET/single photon computed tomography (SPECT)). Although medical imaging is a mature industry with slow growth, artificial intelligence (AI) and machine learning (ML) have been rapidly introduced into the medical imaging field in recent years, benefiting from advances in neural-like networks, deep machine learning, and massive data computing technologies. According to Global Market Insight[2]The global healthcare AI market is expected to reach $4.2 billion by 2020, with AI applications in medical imaging and diagnostics accounting for about a quarter of that amount. signify also estimates that the market value of medical imaging using AI will reach $1.2 billion by 2025, with an annual compound growth rate of 26%.[3]According to the estimation of Ji-Pu Industrial Research, the annual compounded growth rate of global medical imaging AI products reaches 25.8%.