Product ID: UCMIG35G2161
Report ID:
UCMIG35G2161 |
Region:
Global |
Published Date: Upcoming |
Pages:
165
| Tables: 55 | Figures: 60
The global artificial intelligence (AI) in ultrasound imaging market demonstrated robust growth, with an estimated value of USD 863.59 million in 2022. This upward trajectory is expected to continue as the market is projected to reach approximately USD 1,691.2 million by 2030, reflecting a compound annual growth rate (CAGR) of 8.76% during the forecast period spanning from 2022 to 2030. The surge in market value can be attributed to the increasing integration of AI technologies in ultrasound imaging processes, offering enhanced diagnostic accuracy, efficiency, and image analysis. This trend is driven by the rising demand for advanced medical imaging solutions, the pursuit of more precise diagnostics, and the pursuit of better patient outcomes. The market's evolution is expected to be fueled by ongoing research and development efforts in AI algorithms, machine learning techniques, and deep learning models tailored for ultrasound applications, further cementing AI's pivotal role in transforming the landscape of medical imaging.
This report is being written to illustrate the market opportunity by region and by segments, indicating opportunity areas for the vendors to tap upon. To estimate the opportunity, it was very important to understand the current market scenario and the way it will grow in future.
Production and consumption patterns are being carefully compared to forecast the market. Other factors considered to forecast the market are the growth of the adjacent market, revenue growth of the key market vendors, scenario-based analysis, and market segment growth.
The market size was determined by estimating the market through a top-down and bottom-up approach, which was further validated with industry interviews. Considering the nature of the market we derived the Health Care Technology by segment aggregation, the contribution of the Health Care Technology in Health Care Equipment & Services and vendor share.
To determine the growth of the market factors such as drivers, trends, restraints, and opportunities were identified, and the impact of these factors was analyzed to determine the market growth. To understand the market growth in detail, we have analyzed the year-on-year growth of the market. Also, historic growth rates were compared to determine growth patterns.
The Artificial Intelligence (AI) in Ultrasound Imaging Market is segmented by Solution, Application, Technology, Ultrasound Technology, End User, Geography. We are analyzing the market of these segments to identify which segment is the largest now and in the future, which segment has the highest growth rate, and the segment which offers the opportunity in the future.
Artificial Intelligence (AI) in Ultrasound Imaging Market is being analyzed by North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) regions. Key countries including the U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, and South Africa among others were analyzed considering various micro and macro trends.
SkyQuest's expert analysts have conducted a risk analysis to understand the impact of external extremities on Artificial Intelligence (AI) in Ultrasound Imaging Market. We analyzed how geopolitical influence, natural disasters, climate change, legal scenario, economic impact, trade & economic policies, social & ethnic concerns, and demographic changes might affect Artificial Intelligence (AI) in Ultrasound Imaging Market's supply chain, distribution, and total revenue growth.
To understand the competitive landscape, we are analyzing key Artificial Intelligence (AI) in Ultrasound Imaging Market vendors in the market. To understand the competitive rivalry, we are comparing the revenue, expenses, resources, product portfolio, region coverage, market share, key initiatives, product launches, and any news related to the Artificial Intelligence (AI) in Ultrasound Imaging Market.
To validate our hypothesis and validate our findings on the market ecosystem, we are also conducting a detailed porter's five forces analysis. Competitive Rivalry, Supplier Power, Buyer Power, Threat of Substitution, and Threat of New Entry each force is analyzed by various parameters governing those forces.
The Artificial Intelligence (AI) in Ultrasound Imaging Market is being analyzed by SkyQuest's analysts with the help of 20+ scheduled Primary interviews from both the demand and supply sides. We have already invested more than 250 hours on this report and are still refining our date to provide authenticated data to your readers and clients. Exhaustive primary and secondary research is conducted to collect information on the market, peer market, and parent market.
Our cross-industry experts and revenue-impact consultants at SkyQuest enable our clients to convert market intelligence into actionable, quantifiable results through personalized engagement.
Report Attribute | Details |
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The base year for estimation | 2021 |
Historical data | 2016 – 2022 |
Forecast period | 2022 – 2028 |
Report coverage | Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis |
Segments covered |
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Regional scope | North America, Europe, Asia-Pacific (APAC), Latin America (LATAM), Middle East & Africa (MEA) |
Country scope | U.S., Canada, Germany, France, UK, Italy, Spain, China, India, Japan, Brazil, GCC Countries, South Africa |
Key companies profiled |
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Customization scope | Free report customization (15% Free customization) with purchase. Addition or alteration to country, regional & segment scope. |
Pricing and purchase options | Reap the benefits of customized purchase options to fit your specific research requirements. |
Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
For the Artificial Intelligence (AI) in Ultrasound Imaging Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Artificial Intelligence (AI) in Ultrasound Imaging Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Artificial Intelligence (AI) in Ultrasound Imaging Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Artificial Intelligence (AI) in Ultrasound Imaging Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATIONThe global market for Artificial Intelligence (AI) in Ultrasound Imaging was estimated to be valued at US$ XX Mn in 2021.
The global Artificial Intelligence (AI) in Ultrasound Imaging Market is estimated to grow at a CAGR of XX% by 2028.
The global Artificial Intelligence (AI) in Ultrasound Imaging Market is segmented on the basis of Solution, Application, Technology, Ultrasound Technology, End User, Geography.
Based on region, the global Artificial Intelligence (AI) in Ultrasound Imaging Market is segmented into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
The key players operating in the global Artificial Intelligence (AI) in Ultrasound Imaging Market are sights, The global artificial intelligence (ai) in ultrasound imaging market size was estimated at USD 863.59 million in 2022 and is projected to hit around USD 1,691.2 million by 2030, growing at a CAGR of 8.76% during the forecast period from 2022 to 2030., Key Insights:, By solution, the software segment was dominated in 2021. , By application, the radiology segment dominated the market in 2021., By application, the obstetrics and gynecology segment is estimated to witness the highest CAGR from 2022 to 2030., By end user, the hospitals segment dominated the market in 2021, The North America dominated the market in 2021., Growth Factors, The demand for ultrasound imaging is significantly high in the healthcare units like hospitals and clinics as it is considered to be one of the safest, cheapest, and most effective medical diagnostic techniques across the globe. The integration of artificial intelligence technology in ultrasound imaging is expected to make the ultrasound imaging technique smarter and improve the efficiency of the technique to accurately examine the disease. The surging demand for imaging biomarkers and quantitative imaging is significantly driving the demand for AI in ultrasound imaging. Furthermore, the surging prevalence of various lifestyle and chronic diseases among the global population is boosting the demand for AI in ultrasound imaging to accurately diagnose the problem. As per the International Agency for Research on Cancer (IARC), in 2020, around 19.3 million new cancer cases were recorded. Around 10 million deaths were linked to cancer. The new cancer cases is expected to rise by 47% from 2020 to 2040. Moreover, around 32% of global deaths are caused due to cardiovascular diseases, as per the World Health Organization. According to the International Diabetes Federation, the total diabetic population is expected to reach around 783 million by 2045. Therefore, with the rising prevalence of chronic diseases and a growing number of hospital admissions, the pressure on hospitals is growing significantly to offer quick and effective treatment. The introduction of AI in ultrasound imaging will help healthcare and medical service providers to quickly and accurately examine diseases and offer quick care services to patients., Market Dynamics, Driver: The rising inclination of health professionals towards the AI technology, The recognition of the benefits of AI-based technologies and the growing applications of AI in diagnostic activities is boosting the adoption of AI in ultrasound imaging. AI is allowing health professionals to accurately and quickly diagnose and provide results at cheaper costs. The growing pressure on the healthcare units to quickly cater to the needs of the patients while achieving increased profitability is expected to boost the growth of the AI in the ultrasound imaging market during the forecast period., Restraint: High costs of the AI based devices and software, The costs of AI-based devices and software is high. Moreover, health professionals lack the technical knowledge of operating advanced AI technologies. Therefore, the demand for third-party service providers is increasing, which is further, boosting the costs for the healthcare units. Therefore, small and medium-sized clinics and hospitals restrict themselves to adopt the AI-based ultrasound imaging devices. This may hamper the market growth., Opportunity: Emerging nations is offering growth opportunities, Emerging economies like China, India, and Brazil are witnessing a rapid rise in the patient population owing to changing lifestyles and the growing prevalence of chronic diseases. The growing need for quickly and effectively providing care services to patients. This is boosting the adoption of AI in ultrasound imaging solutions. Moreover, the growing investments in the development of smart hospitals is another major driving factor of the market., Challenge: Lack of access to the healthcare and medical facilities, There is a lack of access to advanced healthcare facilities in the rural areas of developing and underdeveloped nations. The absence of proper healthcare infrastructure, high healthcare costs, and low income of the comers result in underdiagnosis and undertreatment of the patients. Therefore, the lack of healthcare infrastructure is a major challenge to the market players., Segments Insight, Solution Insights, Depending on the solution, the global AI in the ultrasound imaging market was dominated by the software segment. The software is the major contributor to the revenue growth of AI in the ultrasound imaging market. It generates recurring revenues for the market players. Moreover, the software is regularly updated and it enhances the performance and accuracy of ultrasound imaging. Moreover, the rising adoption of cloud-based services and rising penetration of the internet in the healthcare sector is further fueling the demand for AI in ultrasound imaging., Services is expected to be the fastest-growing segment during the forecast period. Operating AI-based equipment and software is a complex task and it requires specialized knowledge. There is a lack of specialized workers who can operate the AI-based technologies efficiently. Therefore, the demand for the AI services is expected to rise significantly. The healthcare professionals can focus on their core activities and the operating activities related to the AI-based hardware and software can be efficiently managed by the service providers. This will increase the pace of work and boost the efficiency and profitability of the hospitals., Application Insights, Based on application, the radiology segment dominated the global AI in the ultrasound imaging market in 2021. The growth is attributed to various factors such as the surging geriatric population and the growing prevalence of chronic diseases such as cancer, cardiovascular diseases, and respiratory diseases and their survivors. The survivors of cancer are needed to monitor themselves frequently to ensure that there is no cancer cells left behind. On the other hand, the obstetrics and gynecology segment is estimated to witness the highest CAGR during the forecast period. This can be attributed to the rising usage of ultrasound imaging during pregnancy. According to the NCBI, an average number of ultrasound imaging performed during pregnancy has spiked from 1.5 in 1995 to 2.7 in 2006, in US. The complications associated with pregnancy, reproductive system, and fertility needs to be diagnosed by ultrasound imaging. The AI in ultrasound imaging will enhance this process and boost the accuracy of the diagnosis., End User Insights, Based on the end user, the hospitals segment dominated the AI in the ultrasound market in 2021. The rising government and corporate investments in the development of smart hospitals is expected to drive the growth of the hospitals segment. The hospitals require ultrasound imaging solutions as it has a huge number of patients. Moreover, the rising demand for effective and efficient diagnostic solutions in hospitals has led to the dominance of hospitals in the global market. The growing prevalence of chronic diseases and rising demand for quick and accurate diagnostic results is significantly boosting the growth of the hospital segment. Research laboratories & diagnostic centers are expected to be the most opportunistic segment during the forecast period. The growing number of diagnostic centers across the globe especially in developing economies is expected to boost market growth significantly. The presence of a wider variety of equipment and diagnostics for various diseases is boosting the demand for medical diagnostics among patients., Regional Insights, North America dominated the global AI in ultrasound imaging market in 2021. The presence of leading pharma and biotechnology companies in the region coupled with the rising investments in the adoption of the latest novel technologies in the medical sector has led to the adoption of AI in ultrasound imaging. The increased prevalence of various chronic diseases and higher healthcare expenditure has led to a higher demand for ultrasound imaging among patients. The presence of advanced healthcare facilities and better access to it has led to the dominance of North America in the global AI in the ultrasound imaging market. The rising investments in research and development and the rising investments in the adoption of the latest medical devices and software is boosting the growth of the North America AI in the ultrasound imaging market. Asia Pacific is expected to be the fastest-growing AI in the ultrasound imaging market during the forecast period. Asia Pacific is one of the largest producers of ultrasound imaging devices at cheap costs owing to the presence of cheap factors of production. The rising prevalence of various diseases and growing demand for accurate diagnostic results is boosting the growth of AI in ultrasound imaging systems. The rising complications during pregnancy owing to late marriages and changing lifestyle of women has led to the increased demand for ultrasound imaging in obstetrics and gynecology applications. The surging government investments in the development of smart hospitals is expected to boost the growth of the Asia Pacific AI in the ultrasound imaging market during the forecast period. , Key Market Developments, In July 2020, Zebra Medical Vision entered into a strategic collaboration with TELUS Ventures. This strategy aimed at increasing the presence of Zebra Medical’s presence across North America to launch its AI solutions to the healthcare providers., KEY MARKET SEGMENTS, By Solution, Software tools, Services, Devices, By Application, Radiology, Cardiovascular, Gastroenterology, Obstetrics and Gynecology, By Technology, Machine Learning, Natural Language Processing, Context- Aware Computing, Computer Vision, By Ultrasound Technology, Diagnostic Imaging, Therapeutic, 2D, 3D/4D Ultrasound Imaging, High Intensity Focused Ultrasound, Extracorporeal Shockwave Lithotripsy, Doppler Ultrasound , By End User, Hospitals, Clinics, Research Labs and diagnostic centers, Others, By Geography, North America, Europe, Asia-Pacific, Latin America, Middle East & Africa (MEA), KEY MARKET PLAYERS, NVIDIA Corporation, Intel Corporation, IBM , EchoNous, Inc., Microsoft, General Vision Inc., GENERAL ELECTRIC COMPANY, Johnson & Johnson Services, Inc., Siemens Healthcare Private Limited, Medtronic , CloudMedx Inc. , Agfa-Gevaert Group, Butterfly Network, Inc. , Imagia Cybernetics Inc., Enlitic, Inc., Micron Technology, Inc., SAMSUNG.
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Product ID: UCMIG35G2161