India artificial intelligence (AI) in medical Imaging market size was valued at $27 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 38.4% from 2022 to 2030 and will reach $367 Mn. The market is segmented by AI technology, solution, modality, application, and end User. Due to developments in AI and machine learning algorithms that are enabling the creation of more precise and effective medical imaging software, the India Artificial Intelligence (AI) in the Medical Imaging market will expand. Some of the key players in this market Niramai Health Analytix, Qure.ai, Predible Health, 4C Medical Technologies, Perfint Healthcare, GE Healthcare, Siemens Healthineers, Philips Healthcare, Fujifilm India and others.
Market Executive Summary
India artificial intelligence (AI) in medical Imaging market size was valued at $27 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 38.4% from 2022 to 2030 and will reach $ 367. India's healthcare industry has advanced significantly in recent years thanks to the adoption of artificial intelligence (AI) technologies, particularly in the field of medical imaging. Through the use of AI in medical imaging, it is now possible to improve patient outcomes, make more accurate diagnoses, and manage medical practises more successfully. India's government has aggressively promoted the development of AI technology in healthcare through policies and initiatives aimed at fostering collaboration between business, academia, and research organisations. The nation's fast growing economy, sizable population, and ageing population have created a significant need for cutting-edge healthcare solutions, including AI in medical imaging. As a result, numerous domestic and international companies are investing substantial sums of money in this industry in India, fostering the development of a thriving ecosystem of startups, academic institutions, and well-established organisations.
In the past, a physical exam was one of the few imaging diagnostic procedures available, but today there are several, including x-ray, CT, MRI, and (3D) ultrasound. The market for the technology is being driven by the use of AI in medical imaging to increase precision, speed up interpretation, and decrease repetition for radiologists.
There are several initiatives and projects underway in different parts of India to develop and deploy AI in medical imaging. For instance, the Indian Institute of Technology (IIT) Delhi has developed an AI-powered low-cost portable ultrasound machine for use in rural areas. Additionally, the All India Institute of Medical Sciences (AIIMS) in Delhi has partnered with a startup to develop an AI-powered tool for detecting diabetic retinopathy, a leading cause of blindness.
Moreover, researchers from the Indian Institute of Technology (IIT) Madras have developed an AI-powered system to detect lung cancer in its early stages. The government of Karnataka has launched an AI-based radiology diagnosis scheme in 42 government hospitals across the state. The Tata Memorial Centre in Mumbai has partnered with a startup to develop an AI-powered tool for detecting oral cancer. Throughout the projected period, India is anticipated to increase at a profitable pace. The frequency of illnesses and the growing population might be blamed for the rise. Additionally, the market is growing due to the rapidly modernizing healthcare infrastructure across the India.
Market Growth Drivers
January 2021: Researchers from IIT Kharagpur developed an AI system to detect diabetic retinopathy with an accuracy of up to 90%.
February 2021: Researchers from IIT Bombay developed an AI-based system to analyze chest X-rays and provide a diagnosis with an accuracy of up to 97%.
India does not currently have specific regulations governing the use of artificial intelligence (AI) in medical imaging. However, the government is in the process of developing a national strategy for AI, which is expected to include guidelines for the use of AI in healthcare. In addition, the Medical Council of India and the National Board of Examinations have issued guidelines for the use of AI in medical education and practice, which may have implications for the use of AI in medical imaging.
At present, medical devices and diagnostics are regulated by the Central Drugs Standard Control Organization (CDSCO) and the Medical Devices Rules, 2017. However, these regulations do not specifically address the use of AI in medical imaging. It is expected that as the use of AI in healthcare becomes more widespread in India, there will be a need for more specific regulations to govern its use, particularly in sensitive areas such as medical imaging.
1. Executive Summary
1.1 Digital Health Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Digital Health Policy in Country
1.6 Recent Developments in the Country
2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)
3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints
4. Competitive Landscape
4.1 Major Market Share
4.2 Key Company Profile (Check all Companies in the Summary Section)
184.108.40.206 Product Applications and Services
220.127.116.11 Recent Developments
18.104.22.168 Partnerships Ecosystem
22.214.171.124 Financials (Based on Availability)
5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Diagnosis
5.3 Reimbursement Process for Treatment
6. Methodology and Scope
By AI Technology
When compared to CT scans, magnetic resonance imaging can produce pictures that are free of imperfections. Due to its efficiency in obtaining details and better-quality pictures of soft tissues, the MRI is frequently seen as a superior alternative to X-rays. Utilizing optical coherence tomography, three-dimensional interactions between the retina and membranes are made possible in order to control the vitreoretinal disease.
The market is dominated by the digital pathology segment, which can be linked to pathologists' rising productivity. A validation tool for image analytics is provided by digital pathology, helping pathologists process more slides in less time. This facilitates early illness identification and quicker therapy initiation. AI and digital pathology also assist doctors in making patient-centered decisions. The oncology market is also expected to grow in popularity as more individuals become aware of cancer and its increased incidence in the public. Personalized therapy is made possible by artificial intelligence algorithms that identify and comprehend the nature of malignancies. The second section focUses on AI-driven diagnostic imaging for the heart, brain, breast, and mouth.
By End Use
The market is dominated by the healthcare sector. This is becaUse hospitals are widely dispersed and accessible; hence, many patients like hospitals. The market for medical imaging AI is also anticipated to benefit from favorable reimbursement regulations. During the anticipated time, diagnostic centers are anticipated to grow in popularity. This may be attributable to elements including rising patient awareness and a desire for diagnostic procedures and tests, all of which are fueling the market's expansion. Due to its ease in providing high-quality medical facilities in remote places, particularly rural ones, the ambulatory category is expected to develop at a quicker CAGR throughout the projection period. The availability of qualified surgeons and a surplAustralia of the necessary equipment are contributing to the expansion of the hospital market. Government assistance in emerging nations is likely to boost hospital infrastructure and technologies throughout the forecast period, which is anticipated to caUse the hospital segment to see growth.
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