AI-Powered Medical Imaging Set to Transform Healthcare with 27.5% CAGR Through 2032

According to the latest market research study published by P&S Intelligence, the global AI-based medical imaging market is experiencing unprecedented growth, projected to expand from USD 1.8 billion in 2024 to an impressive USD 12.5 billion by 2032, advancing at a remarkable CAGR of 27.5% during 2025–2032.

This exponential rise is being driven by a perfect convergence of factors: the increasing prevalence of chronic diseases, the surging demand for healthcare services for the aging population, and accelerating R&D investments in the medical technology sector. Continuous innovations in imaging technologies and supportive government initiatives are further fueling the adoption of AI solutions in healthcare worldwide.

AI at the Forefront of a Healthcare Revolution

Since the global pandemic, healthcare has undergone a digital transformation. With the rapid adoption of telemedicine, remote patient monitoring, and AI-driven diagnostics, the industry is now entering a new era of personalized medicine. AI-based medical imaging is proving vital in early disease detection, precision diagnostics, and patient-specific treatments, making it a cornerstone in the fight against lifestyle-related conditions such as diabetes and cardiovascular diseases.

Key Growth Drivers

• Technological Advancements: Cutting-edge innovations, including computer-aided diagnostics and deep learning algorithms, are enhancing accuracy, reliability, and speed in identifying abnormalities.
• Rising Physician Preference: Doctors are increasingly turning to AI-powered imaging tools for precise analysis of MRIs, CT scans, and X-rays, enabling earlier interventions and more targeted therapies.
• Strategic Collaborations: Industry leaders, hospitals, and research institutions are partnering to deliver robust AI-driven imaging platforms that improve diagnostic workflows and treatment planning.

Market Highlights

• Modality Leaders: CT dominates with a ~70% share in 2024, while MRI emerges as the fastest-growing category through 2032.
• Technology Insights: Deep learning holds the largest share (~40% in 2024) and is projected to expand at the fastest pace.
• End Users: Hospitals lead the market today, while diagnostic imaging centers are expected to grow the fastest in the coming years.
• Applications: Neurology remains both the largest and fastest-growing segment, driven by AI’s ability to process complex brain imaging data.

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Regional Outlook

• North America leads the global market, owing to advanced healthcare infrastructure, high AI adoption, and robust R&D investments.
• Asia-Pacific (APAC) is poised to witness the fastest growth, powered by expanding aging populations, government-backed AI initiatives, and rapid digitalization of healthcare in countries such as China and India.

Industry Consolidation & Innovation

The AI-based medical imaging market remains consolidated, with giants such as GE Healthcare, Siemens Healthineers, Canon Medical Systems, and Philips leading the way. These companies are actively acquiring startups, forging collaborations, and launching cutting-edge solutions to strengthen their portfolios.

Recent Developments:

• May 2024: Canon Medical Systems installed its Aquilion Serve SP CT scanner, featuring AI-driven workflow automation, in Las Vegas.
• Jan 2024: GE HealthCare acquired MIM Software, enhancing AI-based workflows in oncology, cardiology, and neurology.
• Nov 2023: GE HealthCare launched the MyBreastAI Suite, integrating advanced AI tools to optimize breast cancer detection and radiology workflows.

The Future of AI in Medical Imaging

As AI continues to reshape the healthcare landscape, its role in medical imaging will be transformative—ushering in faster, more accurate diagnoses, reducing clinician burnout, and making healthcare delivery more patient-centric. With its vast potential, AI-based medical imaging is not just an innovation—it is becoming the standard for the future of global healthcare.