by The adoption of AI in Ultrasound Imaging Market is witnessing high growth on account of the ability of AI systems to automate diagnosis and improve workflow efficiency. Ultrasound imaging uses high-frequency sound waves to produce anatomical images of organs in the body and has wide applications across various clinical areas like cardiology, obstetrics & gynecology and radiology. Artificial intelligence is bringing intelligent automation features like automatic measurement, anatomical recognization and diagnostic assistance to enhance both accuracy and productivity of ultrasound exams.
The Global AI in Ultrasound Imaging Market is estimated to be valued at US$ 972.1 Mn in 2024 and is expected to exhibit a CAGR of 9.9% over the forecast period from 2024 to 2031.
AI is finding increasing utility in ultrasound due to the large volume of ultrasound images that can be analyzed to train algorithms and derive diagnostic insights. This is reducing reliance on radiologists for routine tasks while improving early detection of diseases. Automated measurement tools enabled by AI further aid clinicians in fast evaluation of organ size, blood flow and other metrics during ultrasound-guided procedures.
Key Takeaways
Key players operating in the Artificial Intelligence in Ultrasound Imaging are 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., and SAMSUNG.
The AI in Ultrasound Imaging Market Forecasts for AI-enabled ultrasound devices across hospitals and diagnostic centers is driving the artificial intelligence in ultrasound imaging market. AI algorithms can analyze huge volumes of ultrasound images thus enhancing disease detection capabilities of doctors.
Geographically, North America dominates the artificial intelligence in ultrasound imaging market due to large research activities and adoption of AI systems by healthcare providers in the region. However, Asia Pacific is witnessed to offer high growth opportunities owing to rising medical infrastructure and focus of regional governments on implementing digital healthcare programs.
Market Key Trends
Deep learning algorithms are gaining increased focus in artificial intelligence for ultrasound imaging applications. Deep learning models like convolutional neural networks can learn complex patterns from ultrasound images and aid radiologists with tasks like anatomical structure recognition, abnormality detection and disease diagnosis. Researchers are actively working on large, labeled ultrasound datasets to advance the capabilities of AI models.
Porter’s Analysis
Threat of new entrants: The Artificial Intelligence in Ultrasound Imaging Market Analysis is consolidated with high capital costs and technology requirements to enter hence threat is low.
Bargaining power of buyers: Individual buyers have low bargaining power due to dependency on ultrasound technology but healthcare institutions have moderate power.
Bargaining power of suppliers: Suppliers of AI software and ultrasound machines have moderate bargaining power due to differentiation in technology.
Threat of new substitutes: No close substitutes currently exist for AI enhanced ultrasound imaging giving it less threat from substitutes.
Competitive rivalry: The market is growing rapidly attracting new players leading to high competitive rivalry.
Geographical Regions
In terms of value, North America accounts for the largest share in the global Artificial Intelligence In Ultrasound Imaging market owing to increasing adoption of advanced healthcare technologies and presence of leading players.
The Asia Pacific region is expected to witness the fastest growth over the forecast period driven by improving healthcare infrastructure, growing medical tourism industry and rising incidence of chronic diseases. Countries like China and India are emerging as highly lucrative markets.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
