Pune, Oct. 16, 2024 (GLOBE NEWSWIRE) — According to SNS Insider, The Artificial intelligence in the ultrasound market The size was estimated at USD 889.1 million in 2023 and is expected to reach USD 2047.7 million in 2032, growing at a CAGR of 8.7% over the global forecast period of 2024 to 2032.
The increasing integration of advanced technologies in ultrasound, coupled with the demand for better accuracy in diagnostics, is driving this growth in the market. The rapidly rising incidence of chronic diseases, along with the increasing demand for effective diagnostic solutions, are helping to accelerate the market growth.
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Market overview
The artificial intelligence market in ultrasound has witnessed tremendous growth as the demand for efficient and accurate diagnostic imaging solutions increases. The healthcare industry’s increasing adoption of AI-related technologies and their need to develop fast and accurate diagnostics is rewriting the landscape of ultrasound. AI-based solutions enable healthcare professionals to process large amounts of imaging data at a much faster pace to improve patient care. The increasing incidence of chronic diseases and the need to detect them at an early stage or even initiate treatment are also driving the demand for AI-based ultrasound devices. Supply-side innovations include improvements in machine learning, natural language processing and computer vision. Thus, the market is shifting toward AI-integrated ultrasound systems that can markedly increase diagnostic accuracy and streamline healthcare workflows.
Key Players in the Artificial Intelligence in Ultrasound Imaging Market:
- IBM
- Nvidia company
- Intel Corporation
- Microsoft
- Samsung
- Butterfly network
- GE company
- Siemens healthcare
- General vision
- Echo Nous, Inc.
- CloudMedx Inc.
- Agfa-Gevaert group
- Imagia Cybernetics Inc.
- Enlitic, Inc.
- Micron Technology, Inc. and others.
Scope of the Artificial Intelligence in Ultrasound Market Report:
| Report features | Details |
| Market size in 2023 | $889.1 million |
| Market size in 2032 | $2047.7 million |
| CAGR | CAGR of 8.7% from 2024 to 2032 |
| Basic year | 2023 |
| Forecast period | 2024-2032 |
| Historical data | 2020-2022 |
| Important regional coverage | North America (USA, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe]Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, rest of Asia Pacific), Middle East and Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East]), Africa [Nigeria, South Africa, Rest of Africa]Latin America (Brazil, Argentina, Colombia Rest of Latin America) |
Segment analysis
Through technology
The technology segments of the AI ultrasound market include machine learning, computer vision, natural language processing, and others. This pie chart further divides image analysis into three broad areas: machine learning, computer vision, and deep learning. The market leadership is held by machine learning, which will maintain a 36.2% share in 2023, as the amounts of image data they can analyze allow images to be diagnosed more accurately over time, especially for predictive analytics and pattern recognition in imaging. The siled knowledge structure created by such data-driven insights has spread beyond medical decision-making and is valued by radiologists and healthcare professionals around the world.
By application
Radiology had the largest share of 27.6 in 2023, mainly due to the large number of diagnostic procedures, including any form of cancer and analysis of organs. AI-based ultrasound increases accuracy and reduces time for interpretation. For radiologists it is invaluable. However, the fastest growing area is cardiovascular diagnostics, which is emerging as a result of the increasing incidence of cardiovascular diseases, coupled with a strong need for good early diagnosis. AI-enabled ultrasound systems provide clear images of the heart and blood vessels, improving care for cardiovascular patients.
Per end user:
The end-user segmentation of the ultrasound market includes hospitals, patients, healthcare payers, and others. In 2023, the market was dominated by hospitals with a share of 35.0%, as they are the main providers of advanced diagnostic imaging services. These imaging departments in hospitals help streamline workflow and improve diagnostic capabilities, and it is the most desirable option among healthcare providers.
Artificial Intelligence in Ultrasound Market Segmentation:
Through technology
- Machine learning
- Computer vision
- Natural language processing
- Others
By application
- Radiology
- Obstetrics
- Gynecology
- Cardiovascular
- Others
By end user
- Hospitals
- Patients
- Healthcare payers
- Others
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Regional analysis
By 2023, North America emerged as the largest shareholder in the ultrasound artificial intelligence market, with a share of approximately 40% of the total market. Growth in this region is mainly driven by the countries with leading technology companies and healthcare organizations focusing on AI-based integration into ultrasound machines. Organizations such as IBM and Medtronic are leaders in the development of AI-driven ultrasound solutions that improve diagnosis. North America’s market dominance is also strengthened by a robust healthcare infrastructure and high adoption rates of technologies and their advanced forms.
The Asia Pacific market is growing at the highest CAGR during the forecast period 2024-2032. Incremental investments in healthcare and the need for next-generation imaging products are the main growth driver in this regard. Substantial R&D and partnerships exist between key players such as companies associated with Nvidia and Siemens Healthcare in countries such as China and India, driving innovations for new ultrasound imaging solutions. Growing healthcare expenditure and rise in chronic diseases are expected to create opportunities for market growth.
Recent developments
- Butterfly Network, Inc. launched the Butterfly iQ+ ultrasound device in June 2024. Equipped with advanced AI algorithms, the device will help in improved diagnostic capabilities.
- GE HealthCare launched its AI-driven ultrasound product, the Versana Balance, in August 2024 to provide more accurate diagnostics for OB-GYN-related applications.
- Nvidia Corporation announced in July 2024 that it is partnering with Siemens Healthcare to produce AI-based ultrasound software to evaluate data in real time.
Important Take-A-Ways
- The artificial intelligence in ultrasound market is expected to grow at an incredibly fast pace in the coming years due to technological advancements and the rapidly increasing need for accurate diagnostics.
- Machine learning is the dominant technology segment, followed by computer vision as the fastest growing.
- North America currently leads the market, while Asia Pacific has the most growth potential.
- The latest product releases from leading vendors underscore how AI-powered ultrasound products continue to evolve.
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Table of Contents – Important Key Points
1. Introduction
2. Summary
3. Research methodology
4. Impact analysis of market dynamics
5. Statistical insights and trend reporting
- Incidence and prevalence (2023)
- Recipe Trends, (2023), by region
- Device volume, by region (2020-2032)
- Healthcare expenditure, by region, (government, commercial, private, deductible), 2023
6. Competitive landscape
7. Artificial Intelligence Market Segmentation in Ultrasound, by Technology
8. Artificial Intelligence in Ultrasound Market Segmentation, by Application
9. Market segmentation of artificial intelligence in ultrasound, by end user
10. Regional analysis
11. Company profiles
12. Use cases and best practices
13. Conclusion
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