Global AI in Ultrasound Imaging Market By Solution (Hardware, Software, Services), By Application (Neurology, Radiology, Cardiovascular, Gastroenterology, Obstetrics, Breast Screening, Gynecology), By Technology (Machine Learning, Deep Learning, Natural Language Processing, Context Aware Computing, Computer Vision), By End-User (Hospitals, Clinics), By Region and Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2024-2033.

Report Overview

The Global AI in Ultrasound Imaging Market size is expected to be worth around USD 2261.8 Million by 2033, from USD 964.2 Million in 2023, growing at a CAGR of 8.9% during the forecast period from 2024 to 2033.

With the scaling of diseases, the number  of diagnostic procedures also heightens, leading to the high demand of AI in ultrasound market. Offering early detection of diseases, better diagnosis, and indivisualized care, AI based ultrasound tools and solutions are highly adopted by healthcare professionals, resulting into precise outcomes.

The market further witness upward growth with the advance technologies integrated into ultrasound techniques. For instance, the creation of rtil software which is easily integrated into imaging devices is one of the advancement enabling automatic medical image processing. To further illustrate, the incorporation of artificial intelligence and smartphone technology in medical imaging allow healthcare providers to use a smartphone to do non invasive condition screening. Heavy investments are made by many industry players with the growing penetration of AI in medical imaging and healthcare sector aiming to deliver and manufacture new technologies.

• According to American Cancer Society, around 238,810 new cases of lung and bronchus cancer was estimated in 2023 in United States.
• In October 2022, a new solution, ‘Google Cloud’ unveiled Medical Imaging Suite, that makes healthcare imaging data more interoperable and accessible.

Key Takeaways

• Based on solution, software segment held an impressive market share of 61.3% in the year 2023.
• Owing to diverse applications in radiology area, deep learning segment amounted a hefty market portion.
• The heightened use of artificial intelligence powered tools and solutions in treatment various neurological disorders makes neurology segment a major leader.
• The rise in patient population makes hospital segment to adopt AI powered tools for early diagnosis and detection of diseases.
• Advancements in ultrasound imaging procedures paved a way for tremendous market reach in recent years.
• North America overshadow AI in ultrasound imaging market in the year 2023.

Solution Analysis

Software segment is a major leader in the market

Based on solution, the market for AI in ultrasound imaging is categorized into hardware, software and services segment. Amongst these, software segment leads the market capturing a laudable market share of 61.3% in the year 2023. Being a major contributor to the market growth, the segment generates recurring revenues for the market players. The demand for AI in ultrasound imaging is highly boosted by virtue of rising adoption of cloud based services and increasing penetration of internet in the healthcare sector.

On a contrary,owing to the dearth of specialized workers needed for operating AI based technologies, AI based services is expected to grow faster during the prophecy period.

Technology Analysis

Being a sophisticated platform, deep learning segment holds a large market portion

Machine Learning, Deep Learning, Natural Language Processing, Context Aware Computing, and Computer Vision are the various advance technology segments of AI in ultrasound imaging market. An impressive revenue share of 60.8% is held by deep learning segment in the year 2023. The segment has widespread applications in radiology for the purpose of object detection, image regeneration, image transformation and image segmentation.

Following closely, Natural Language Processing (NLP) segment is projected to grow fast during the foreseen days. This growth is highly attributed to the increased usage of NLP in well known fields of machine learning, and artificial intelligence. Emerging trends in NLP enables the healthcare providers to rely on various forms of scans and photos, thus obtaining quicker, precise insights from diagnosis, scans, and screenings.

Application Analysis

Growing cases of neurological diseases leads to high AI usage

With respect to analysis, the market is bifurcated into Neurology, Radiology, Cardiovascular, Gastroenterology, Obstetrics, breast screening and Gynecology segments. Amongst all these, a significant market share of 39.5% is withheld by neurology segment owing to enhanced use of artificial intelligence in neuro-oncology, neuro-vascular disease detection, neurosurgery and traumatic brain injury detection.

A fastest market growth is anticipated by breast screening segment by virtue of rise in breast cancer cases, assisting in appropriate diagnosis and treatment at the onset stage. In addition, the segment experiences a forward push due to supportive government initiatives enabling clinical interpretation and increased access to breast cancer screening technologies.

• Goa government initiated a program for 1 lakh women offering breast cancer screening free of cost, covering breast cancer screening at 35 health centres in Goa.

End User Analysis

High adoption of AI based solutions makes hospital segment dominating

Based on end use, the market is broadly fragmented into hospitals and clinics segments. Owing to the rising investments from government and corporate sectors, hospital segment dominates the AI in ultrasound imaging market in the year 2023. The burdening of patients in hospitals necessitates effective and efficient diagnostic solutions allowing hsopitals to adopt highly advanced AI powered imaging solutions. In addition, the heightening pervasiveness of chronic illnesses further boosts the growth of the hospital segment. All these facets leads the segment to occupy a commanding market share of 74.8% in the year 2023.

Key Market Segments

By Solution

• Hardware
• Software
• Services

By Technology

• Machine Learning
• Natural Language Processing
• Context Aware Computing
• Computer Vision

By Applications

• Radiology
• Cardiovascular
• Gastroenterology
• Obstetrics
• Breast screening
• Gynecology

By End User

• Hospitals
• Clinics

Market Driver

Technological advancements in AI

The capabilities of AI algorithms to automatically detect anomalies, patterns and features in ultrasound images has enabled radiologists and clinicians to conduct accurate diagnosis. The ongoing advancements in AI technology, particularly in computer vision and deep learning has further given an optimistic push leading to more sophisticated algorithms allowing easy handle of intricate medical imaging data. These advancements in artificial intelligence forms a significant factor ruling the AI in ultrasound imaging market in recent years.

Growing need due to demographic shifts

The demographic shifts such as rise in elderly population and up swinging healthcare demands necessitates an ultimatum for medical imaging including ultrasound. A burden is created on healthcare sector by virtue of rise in patient volume requiring advanced solutions, alleviating the burden by automatic image analysis. Thus, AI becomes a valuable tool for healthcare providers to give precise outcomes even in a overloaded situation, thus driving the market growth.

Market Restraints

Expensive AI based services

AI based devices and softwares being expensive forms a barrier for healthcare sector to adopt it on a high rate. In addition, many healthcare professional lack knowledge for operating advanced AI technologies, increasing dependencies on third party service providers. The penetration of third party service providers further up scale the cost creating financial burden on healthcare units. Thus, these high costs restricts small and medium sized hospitals and clinics to acquire highly advanced AI powered ultrasound imaging devices, causing impediment towards market expansion.

Opportunities

Improved accuracy in screening and diagnosis

The field of obstetric gains too much advantage owing to AI based ultrasound imaging as the platform detects complication at an early stage providing better maternal-fetal care. In addition, patients can be continuously monitored through AI enabling the healthcare providers to track real time disease progression, thus better treatment strategies can be conducted.

In addition, many a times the symptoms of disease remain unrecognized by healthcare professionals causing errors in treatment. This situation is sophistically overcome by AI powered tools and solutions, assisting the radiologists to highlight potential problems and carry accurate diagnosis. Thus, these benefitting factors surrounds opportunities around the market for AI in ultrasound imaging presenting growth pathway for the market players.

Impact of Macoeconomic Factors

Inflation Likely to Influence Market Growth

With the persisting inflation, the maket for AI in ultrasound imaging will be affected to a considerable extent. With the increase in costs, the production costs for various AI based devices will also soar. This will greatly influence customer behavior. In addition, with the increase in production costs, businesses will likely lower their investments in the research and development efforts. This impacts innovation in the market, which in turn will influence competition and by extension maket growth.

• Health report of Corporate India 2023, has highlighted on the health of India’s workforce and further reveals India as one of the highest medical inflated region in Asia by 14%.

Latest Trends

Telemedicine and remote monitoring

Monitoring and Interpretation of images at a remote distance has become possible by virtue of AI based ultrasound imaging, providing ease to healthcare professionals in remote locations. This becomes a valuable tool for remote communities where there is limited specialized healthare.

Incorporation with Ultrasound systems

Ultrasound systems have become highly advanced with the idea of integrating the systems with artificial intelligence technology, providing analysis in real time combined with making informed decisions.

Regional Analysis

North America is the Most Dominating Region in the AI in Ultrasound Imaging Market

North America stood upright in the global AI in ultrasound imaging market holding a major market share of 32.1% in comparison to other geographies. The supremacy owes to the fact of region accompanying a heavy healthcare spending coupled with rising pervasiveness of chronic disorders. The region is also associated with the increasing investments in adoption of novel technologies in healthcare sector leading to the adoption of AI powered ultrasound imaging technologies.

• According to US Centers for Disease Control and Prevention, by 2040 the number of elderly population aged over 65 years would reach 80.9 million and 94.8 million by 2060, associating at least one chronic disorder.

Asia-Pacific, on the flip side, is expected to occupy fastest growing AI in ultrasound market during the forecast period. The region maintains its significance due to rising ultimatum for precise diagnostic outcomes at comparatively minimum cost. The up scaling complication during pregnancy due to late marriages and altering lifestyle of women necessitates ultrasound imaging technologies in obstetrics and gynecology area, resulting into a greater need for advanced AI solutions

Key Regions and Countries

• North America
  • US
  • Canada
• Europe
  • Germany
  • France
  • The UK
  • Spain
  • Italy
  • Russia
  • Netherland
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • South Korea
  • India
  • New Zealand
  • Singapore
  • Thailand
  • Vietnam
  • Rest of APAC
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of MEA

Key Players Analysis

Developing key players are concentrated on various strategies to develop their particular companies in foreign markets. Several AI in ultrasound imaging market companies are concentrating on growing their R&D facilities and existing operations. Furthermore, businesses in the AI in ultrasound imaging market are developing a portfolio and new product expansion strategies through mergers, investments, and acquisitions. In addition, numerous key players are now concentrating on different marketing strategies, such as increasing awareness about advanced features, which is expanding the growth of target products.

With many local and regional players, the market for global AI in Ultrasound Imaging is fragmented. Market players are subject to intense competition from top market players, particularly those with strong brand recognition and high distribution networks. Companies have gained various expansion strategies, such as partnerships and product launches, to stay on top of the market. Listed below are some of the most prominent AI in Ultrasound Imaging market players:

Market Key Players

• Intel Corporation
• EchoNous, Inc.
• General Vision, Inc.
• Micron Technology, Inc.
• Samsung
• Imagia Cybernetics, Inc.
• CloudMedX, Inc.
• GENERAL ELECTRIC COMPANY
• Microsoft
• Butterfly Network, Inc.

Recent Developments

• In October 2022: A new medical suite was unveiled by Google Cloud that makes healthcare imaging data more interoperable and accessible.
• In May 2021: A collaboration was established between ThinkCyte (AI based medical imaging company) and Sysmex Corporation with the aim to ameliorate diagnosis and enhance treatment.
• In January 2024: Butterfly Network, Inc. received FDA 510(k) clearance for its Butterfly iQ+ ultrasound device, integrating new AI applications for assessing liver fibrosis.
• In December 2023: Microsoft and Philips announced a partnership to combine Microsoft Azure cloud services with Philips’ ultrasound systems, enhancing them with AI-driven analysis and workflow features.
• In October 2023: Samsung Electronics unveiled the RS80A ultrasound system, featuring cutting-edge AI enhancements for real-time procedural guidance and automated image optimization.
• In July 2023: General Electric Company (GE Healthcare) enhanced its medical imaging AI portfolio by acquiring Caption Health, a leader in AI-based ultrasound image analysis.

Report Scope