Artificial Intelligence in MRI Market Size, Growth, In-depth Analysis, Research Report Forecast up to 2028: NVIDIA Corporation and IBM Watson Health are key players.

Key determinants contributing to the global market expansion for artificial intelligence in MRI include the increasing incidences of chronic disease and the growing elderly population. In addition, the growing demand for cloud-based healthcare solutions is also positively contributing to the market prospects. Moreover, technological progress, increasing healthcare expenditure, and favorable government policies are anticipated to contribute to the growth of the global market during the analysis period.

However, high price and scarcity of skilled workforce coupled with a lack of knowledge, particularly in emerging economies, is hindering the growth of the global market for AI in MRI during the analysis period.

According to the study, the growing incidence rate of chronic diseases is bolstering artificial intelligence in MRI market expansion.

Artificial intelligence is being increasingly deployed in MRI machines to enhance the quality of diagnostic images, increase precision and shorten processing time. Studies have shown that AI algorithms can scan and process MRI images in a shorter time than conventional methods, which can be useful in planning radiation therapy and surgeries. In addition, the increasing prevalence of chronic diseases such as tumors and cardiovascular disorders and the rising geriatric population have also increased the demand for MRI imaging. This has expanded the demand for AI-driven MRI machines. According to the NIH, 42 million MRI tests were done in the US in 2017 compared to 10.5 million in 2000.

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The global market for artificial intelligence in MRI is segmented into type of solution, end user, and geographical region.

Based on the type of solution, the market is segmented into Software and Services. The software segment is expected to hold a significant market share among the abovementioned ones. AI-driven software is uploaded to the MRI machines, which helps enhance the resolution of the diagnostic image, providing clear and high-quality images faster. Growing demand for cloud-based healthcare solutions is driving the growth of this segment.

Based on the end user, the market classification has been done into Hospitals, Clinics, and Diagnostic Centers. Out of all these types, the hospital segment is expected to hold a significant market share during the analysis period. People are more inclined to go to hospitals for treatment than clinics, which drives segment growth. According to the American Hospital Association's 2020 annual study, hospitals employ AI-based imaging equipment more frequently than diagnostic centers.

Out of all the geographical regions North American region is expected to hold a significant market share in the global artificial intelligence in MRI market. The market in this region is expanding quickly because of a well-established healthcare industry in countries such as the USA and Canada. In addition, healthcare expenditure and favorable government policies are also supporting the growth of the regional market during the analysis period. The North American AI-driven MRI market is also predicted to rise significantly due to the presence of prominent market players in the region. In addition, the high adoption rate of advanced technologies such as AI, ML, and IoT also supports regional market growth.

Asia Pacific's artificial intelligence MRI market's expansion is due to fast industrialization and increased healthcare investments in countries such as China, Japan, and India.

As a part of the report, the major players operating in the global artificial intelligence in MRI market that have been covered are Siemens Healthineers AG, GE Healthcare, IBM Watson Health, Philips Healthcare, NVIDIA Corporation, Oxipit.ai, and Quibim.

The Artificial Intelligence in MRI market has been analyzed into the following segments:

• By Solution

o Software
o Services

• By End-User

o Hospitals
o Clinics
o Diagnostic Centers

• By Geography

o North America

• United States
• Canada
• Mexico

o South America

• Brazil
• Argentina
• Others

o Europe

• United Kingdom
• Germany
• France
• Spain
• Others

o Middle East and Africa

• UAE
• Israel
• Saudi Arabia
• Others

o Asia Pacific

• Japan
• China
• India
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others

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