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Top Growth Opportunities Transforming the AI-enabled Medical Imaging Industry

The medical imaging industry is undergoing a transformative shift as it grapples with escalating challenges such as radiologists’ increasing workload, complex diagnostic tasks, and a global shortage of trained staff. The surge in imaging exams, driven by advancements in medical technology and the complexity of medical cases, has placed a growing burden on radiologists and healthcare systems alike. Rising costs associated with advanced imaging techniques further intensify the pressure to deliver value without overdiagnosis or overtreatment. In response, there is a growing adoption of automation and artificial intelligence (AI) integration, offering a pathway to alleviate radiologists' workload, streamline workflows, and improve accuracy. This shift toward AI-driven solutions is not only enhancing operational efficiency but also enabling more patient-focused care.

Industry Snapshot

  • Competitors: 164 with revenue exceeding $0.5 million
  • End Users: Hospitals, Imaging Centers
  • Leading Competitors: Aidoc, Circle Cardiovascular Imaging Inc., Cleerly, Inc., HeartFlow, Inc., Elucid, Lunit, Inc., Qure.ai Technologies Private limited, iSchemaView, Inc. (Rapid AI), Siemens Healthineers AG, Viz.ai, Inc.
  • Revenue Share of Top 10 Competitors:5%
  • Notable Acquisitions and Mergers: Lunit, Inc. acquired Volpara Health; Tempus acquired Arterys; GE HealthCare acquired Caption Care (Caption Health)

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What strategic imperatives are impacting the growth in the AI-enabled Medical Imaging Industry?

Competitive Intensity

Expanding OEM vendor AI marketplaces to integrate third-party algorithms, enhancing AI application usability for healthcare providers.                                                                                             

Disruptive Technologies

Implementing remote scanning technologies and SaaS-based tele-radiology solutions to mitigate radiologist shortages and enable more flexible diagnostic workflows.

Transformative Megatrend

Deploying AI-based imaging solutions that reduce scan time and improve diagnostic accuracy, particularly in cancer detection and cardiac disease management.

Discover the growth opportunities in the AI-enabled Medical Imaging Industry by accessing Frost & Sullivan's latest analysis on the subject. Download now for comprehensive perspectives!

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