Market Size and Overview:

In the year 2023, the worldwide market for diagnostic imaging utilizing AI-powered Computed Tomography reached a valuation of $1.89 billion. Projections indicate a substantial expansion, with an anticipated market size of $9.23 billion by the year 2030. The forecast spanning from 2024 to 2030 foresees a noteworthy growth trajectory, with a Compound Annual Growth Rate (CAGR) estimated at 25.4%.

Rephrased Market Overview:

The medical diagnostic imaging landscape has undergone a transformative shift with the integration of artificial intelligence (AI), offering heightened diagnostic precision and efficient treatment planning for medical professionals. This technological advancement has paved the way for innovative approaches to disease diagnosis and the assessment of medical images. The synergy between AI and the Internet of Things (IoT) has further propelled advancements in clinical trial outcomes and next-generation diagnostic methodologies. The introduction of novel AI software and its incorporation into routine diagnostics is poised to enhance accuracy and precision. These tools support physicians in image-capturing procedures and facilitate personalized treatment plans for individual patients. Researchers have successfully integrated AI to automatically identify intricate patterns and provide quantitative evaluations, making AI a pivotal force in processing numerous medical images. Consequently, the AI-powered Computed Tomography Diagnostic Imaging market is anticipated to experience growth throughout the forecast period.

Impact of COVID-19 on the Global AI-powered Computed Tomography Diagnostic Imaging Market:

The global outbreak of the coronavirus since late 2019 has had a profound impact on the medical imaging sector. AI, particularly leveraging deep learning technology, has demonstrated notable success in feature extraction from extensive datasets, particularly in identifying and distinguishing between bacterial and viral pneumonia. Efforts have been directed towards recognizing and diagnosing various imaging features of chest CT, leading to an increased adoption of AI-powered Computed Tomography Diagnostic Imaging amid the pandemic. The surge in COVID-19 cases worldwide has further accelerated the demand for AI imaging and telehealth, providing remote access to images and reports. This situation underscores the significance of expanding the application of AI and machine learning in imaging security with the aim of improvement.

Market Drivers:

Increasing Adoption of AI by Medical Professionals:

The growing inclination of medical practitioners towards AI technologies is a key driver of market growth. Recognition of the advantages offered by AI, coupled with its widespread utilization in healthcare, has led to collaborations between key players in the medical imaging market and leading AI technology providers. This collaboration aims to innovate AI-based solutions for healthcare applications, providing advanced and lucrative solutions to consumers. The rising demand for AI-based techniques is encouraging companies to develop more advanced products and technologies, presenting new opportunities in the AI-powered CT diagnostic imaging market.

Surge in Healthcare Sector Investments:

Rising awareness of the benefits of AI technologies in healthcare has prompted increased adoption, with healthcare facilities and hospitals favoring AI as an efficient solution for clinical use. Major companies in the AI in medical imaging market are making significant investments to capitalize on AI technologies, fostering collaborations with researchers to create effective AI-based platforms.

Market Restraints:

Lack of Awareness in Developing Countries:

Market growth is impeded in developing and underdeveloped nations due to lower health awareness levels. In these regions, people often neglect regular health check-ups, and limited knowledge about mild pains and associated complications prevails. Moreover, the implementation of advanced technologies like AI and ML requires expertise, and the scarcity of a skilled workforce in these regions hinders the profitability and growth of the AI-powered Computed Tomography diagnostic imaging devices market.

AI-powered Computed Tomography Diagnostic Imaging Market – Type:

The AI-powered computed tomography diagnostic imaging market is categorized into three segments based on type:

• Low Slice
• Medium Slice
• High Slice

These segments represent varying degrees of imaging capabilities.

The high slice, with more than 64 slices, dominates the market, accounting for a substantial revenue share of over 34.8% in 2023. The increased demand for precise diagnostic imaging solutions is a key factor driving this segment's dominance. Additionally, it emits 80% less radiation compared to mid-end slice technology with 64 slices, making it a preferred choice. Furthermore, high-slice devices excel in providing detailed images of obese patients.

AI-powered Computed Tomography Diagnostic Imaging Market – Solution:

The AI-powered computed tomography diagnostic imaging market's solution segment comprises two categories:

• Software Tools/Platforms
• Services (further divided into Integration and Deployment)

These categories encompass the technological aspects and implementation services associated with AI-powered diagnostic imaging solutions.

AI-powered Computed Tomography Diagnostic Imaging Market – Technology:

The technology segment of the AI-powered computed tomography diagnostic imaging market is divided into three categories:

• Deep Learning
• Computer Vision
• Others

These segments represent the diverse technological approaches employed in AI-powered diagnostic imaging solutions.

AI-powered Computed Tomography Diagnostic Imaging Market – Application:

The application segment is segmented into five categories:

• Oncology
• Neurology
• Cardiovascular
• Musculoskeletal
• Others

These segments highlight the varied medical fields where AI-powered computed tomography diagnostic imaging finds applications.

AI-powered Computed Tomography Diagnostic Imaging Market – By End User:

The end-user segment of the AI-powered Computed Tomography Diagnostic Imaging Market includes:

• Hospitals
• Clinics
• Diagnostic Centers
• R&D Centres
• Others

Among these, clinics hold dominance, constituting the largest revenue share of around 19% in 2023. Clinics are increasingly adopting advanced technologies like AI algorithms, machine learning algorithms, and IoT to enhance operational efficiency and cost-effectiveness.

AI-powered Computed Tomography Diagnostic Imaging Market – By Region:

The regional segmentation comprises five major regions:

• North America
• Europe
• Asia-Pacific
• South America
• Middle-East and Africa

North America leads with the largest market share, surpassing 38.12% in 2023, driven by the presence of numerous key players and a high incidence rate of diseases. Asia-Pacific, accounting for over 23% of the market share in 2023, is poised for substantial growth due to the region's ongoing technological transformation in the healthcare sector and increasing disposable income, particularly in countries such as India, China, and Japan.

AI-powered Computed Tomography Diagnostic Imaging Market – By Companies:

The AI-powered Computed Tomography Diagnostic Imaging Market is characterized by the involvement of several key companies, contributing to a highly fragmented and competitive landscape. The major players in this market include:

• Agfa Healthcare
• Ada Health GmbH
• Arterys
• Bay Labs, Inc. (Caption Health Inc.)
• Babylon
• BenevolentAI
• Butterfly Network, Inc.
• EchoNous, Inc.
• Enlitic, Inc.
• Gauss Surgical
• GE Healthcare
• IBM Corporation
• Lunit Inc.
• Microsoft Corporation
• NVIDIA Corporation
• Philips Healthcare
• OrCam
• Qure.ai
• Siemens Healthineers AG
• Zebra Medical Vision

The market is marked by constant research and development efforts and continuous technological innovation by these vendors, indicative of the dynamic nature of the industry.

Recent Industry Developments:

In June 2021, Perimeter Medical Imaging AI announced the successful technology transfer with Minnetronix Medical for the development of optical coherence tomography (OCT) imaging systems. This development exemplifies the ongoing advancements and collaborations within the industry, underscoring the commitment to technological progress and enhanced diagnostic capabilities.