AI-Based Medical Imaging Expected to Generate $2 billion by 2023

Artificial intelligence (AI) will soon become common place in radiology, and the rise of algorithm-driven technology in the medical imaging industry is poised to generate $2 billion annually by 2023, according to a report from Signify Research, a United Kingdom-based healthcare data research firm.

AI has slowly been transforming the imaging market with advanced methods in assisting physicians with disease detection and diagnosis and quantification processes. At last year’s Radiological Society of North America, the spotlight was on AI, and various software platforms showed off their deep learning-based technologies.

Signify estimates that by 2023, 15 percent of AI tech will be integrated into breast imaging, 14 percent will be assigned to lung issues, 23 percent will be used to image neurological conditions, and 21 percent will be used in cardiovascular applications.

According to one of the report’s researchers, Simon Harris, the continuous development of deep learning software and affordable cloud storage is encouraging the production of AI-based medical image analysis programs.

“At the same time, there are emerging clinical applications where the use of AI has been shown to both improve clinical outcomes and deliver a return on investment for healthcare providers,” said Harris. “Examples include software to detect and diagnose strokes, and analysis tools to measure blood flow in non-invasive coronary exams.”