Skip to main content

Increase Expected in Approved AI-Based Medical Imaging Products

Medically reviewed by Carmen Pope, BPharm. Last updated on Nov 7, 2023.

By Lori Solomon HealthDay Reporter

TUESDAY, Nov. 7, 2023 -- The number of U.S. Food and Drug Administration (FDA)-approved artificial intelligence (AI) products is expected to increase from 69 in 2022 to 350 in 2035, according to a study published online Oct. 16 in the Journal of the American College of Radiology.

Nicole K. McNabb, from ACR Data Science Institute in Reston, Virginia, and colleagues attempted to estimate the number of new medical AI imaging products based on the association between historical funding (Rock Health; 2013 to 2022) and FDA-approved AI products (2008 to 2022).

The researchers found 11.33 new AI products for every $1 billion in funding, assuming a six-year lag between funding and product approval. There were 69 new FDA-approved products in 2022, which were associated with $4.8 billion in funding; this was up from 13 in 2018. Product-year funding is projected to reach $30.8 billion in 2035, resulting in 350 new products that year.

"AI is likely to change the practice of diagnostic radiology over time as new products are developed and integrated into practice," the authors write. "Furthermore, as AI products are integrated into practice, it may incentivize increased investment for future AI products."

Abstract/Full Text (subscription or payment may be required)

Disclaimer: Statistical data in medical articles provide general trends and do not pertain to individuals. Individual factors can vary greatly. Always seek personalized medical advice for individual healthcare decisions.

© 2024 HealthDay. All rights reserved.

Posted November 2023

Read this next

AI-Assisted Contours Superior to Cognitively Defined Prostate Cancer Contours

WEDNESDAY, July 3, 2024 -- Artificial intelligence (AI)-assisted definition of prostate cancer contours reduces underestimation of the extent of prostate cancer, according to a...

Mean Cost of Bringing New Drug to U.S. Market Is $879.3 Million

TUESDAY, July 2, 2024 -- The mean cost of developing a new drug for the U.S. market is estimated to be $879.3 million when both drug development failure and capital costs are...

Patient–Primary Care Provider Language Concordance Tied to Better Outcomes

TUESDAY, July 2, 2024 -- Patient-family physician language concordance is associated with a lower risk for adverse outcomes, according to a study published online June 3...

More news resources

Subscribe to our newsletter

Whatever your topic of interest, subscribe to our newsletters to get the best of Drugs.com in your inbox.