Circle Square Digital Health Trends – July-August 2022

6th September 2022 – Contribution by Sanjay Parekh – Featured in Circle Square Digital Health Trends Newsletter.

Medical imaging AI market is set to reach $1.4b by 2016

The medical imaging AI world market has surged past pre-pandemic levels and was estimated to be more than $400m in 2021, up $60m YOY. This market remains in development, and despite several major barriers that need greater attention, the market is forecast to reach almost $1.4 billion by 2026, with a growth rate (CAGR) of 26.7% (2020-2026).

Radiology AI adoption is on the cusp of ‘crossing the chasm’ towards widespread use.

Vendors are also evolving their offerings from single-point algorithms to AI solutions in several ways.

• Comprehensive solutions (e.g., chest x-ray solutions from Annalise.ai, Qure.ai, Oxipit),
• End-to-end solutions for time-critical use cases (e.g., stroke imaging AI solutions from Viz.ai, RapidAI, Aidoc), or
• Workflow suites (e.g., Arterys’ body area suites or Agfa HealthCare’s RUBEE workflow packages

73% of solutions available in the market are stand-alone AI solutions, expected to grow to 88% by 2026.