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Philips and SyntheticMR’s collaboration pivotal in integration of AI in MR diagnostic imaging, says GlobalData

Press releases may be edited for formatting or style | March 12, 2024 Artificial Intelligence MRI
Philips recently announced a collaboration with SyntheticMR to develop quantitative brain imaging tools powered by artificial intelligence (AI) to diagnose disorders such as multiple sclerosis (MS), traumatic brain injury, and dementia. With the growing demand for early disease diagnosis and a transformative shift towards accuracy and efficiency in diagnostic imaging, Philips and SyntheticMR's collaboration represents a pivotal moment in the integration of AI in magnetic resonance imaging (MRI), contributing to the sector's increasingly crucial role in preventive healthcare and early disease detection, says GlobalData, a leading data and analytics company.

According to GlobalData, the AI in diagnostic imaging market is projected to hit $1.2 billion by 2027, highlighting a shift toward improved accuracy and patient care. With MRI systems growing from $6.2 billion in 2023 to $9.1 billion by 2030, the demand for early diagnosis and personalized medicine drives sector advancements.

Cynthia Stinchcombe, Medical Devices Analyst at GlobalData, comments: “The market for AI in MRI diagnostic imaging is witnessing significant growth and diversification. The growth of the market is supported primarily by the continuous increase in neurological diseases due to the aging population and changing lifestyles leading to an increase in chronic conditions.”
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GlobalData projects that with the continuous advancements in technology and the introduction of innovative therapies, the landscape of diagnostic imaging is set to transform, offering new hope to millions affected by neurological diseases.

Stinchcombe adds: “The advancements in diagnostic imaging, led by companies like Philips, signify a major step forward in the accurate and early detection of disorders such as MS and dementia. With the industry focusing on both established and emerging diagnosis options, the scope for MRI diagnostic imaging is widening, offering a brighter future for those affected by these conditions.”

GlobalData's analysis emphasizes a transformative shift towards more personalized and effective approaches to diagnostic imaging, propelled by technological innovations and a deeper understanding of the disease's mechanisms. As the market for diagnostic imaging continues to evolve, the importance of novel diagnosis methods becomes even more critical.

The collaboration between Philips and SyntheticMR unites their distinct strengths, promising to advance the diagnostic imaging market. Philips brings its diversified expertise in medical systems and consumer electronics, while SyntheticMR contributes its specialized knowledge in software solutions for MRI. This partnership leverages Philips' technological prowess in hardware and SyntheticMR's advanced software capabilities to introduce innovative, AI-driven quantitative brain imaging tools.

Stinchcombe concludes: “Amidst an aging population and the increasing prevalence of chronic conditions, the progress being made is not just promising; it is a beacon of hope for patients. The dynamic expansion of the diagnostic imaging market, driven by relentless innovation and research, marks a hopeful era for patients.”

About GlobalData
4,000 of the world’s largest companies, including over 70% of FTSE 100 and 60% of Fortune 100 companies, make more timely and better business decisions thanks to GlobalData’s unique data, expert analysis and innovative solutions, all in one platform. GlobalData’s mission is to help our clients decode the future to be more successful and innovative across a range of industries, including the healthcare, consumer, retail, financial, technology and professional services sectors.

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